Advit Jewels, a Jaipur-based handcrafted fine jewellery company, opened its initial public offering (IPO) for public subscription on June 23. The fresh issue comprises 1,19,68,000 shares aimed at raising ₹165 crore. The company plans to use the net proceeds primarily to meet its working capital requirements, according to livemint.com.
The IPO is a book-built issue, and the grey market premium (GMP) indicates a nearly 50% listing pop, reflecting strong investor interest ahead of the subscription. The company’s focus on handcrafted fine jewellery has attracted attention, with institutional investors also expected to participate in the offering. The issue price band and other subscription details were released prior to the opening date.
This IPO comes at a time when the jewellery sector is witnessing renewed investor enthusiasm, driven by rising demand for premium and artisanal products. Comparable recent IPOs in the jewellery space have seen varied investor responses, but Advit Jewels’ nearly 50% GMP suggests robust market confidence. The ₹165 crore target positions the company to strengthen its financial base amid competitive pressures in the sector.
The subscription window for Advit Jewels’ IPO closes on June 25. Market participants will closely watch the subscription numbers and listing performance to gauge investor appetite for artisanal jewellery firms in the current market environment.