Advit Jewels IPO: Strong Growth, Healthy Margins and Robust GMP Draw Investor Attention

23 Jun 2026 , 11:29 AM

Advit Jewels IPO opened for subscription on June 23, 2026, and will remain open until June 25, 2026. The Jaipur-based jewellery manufacturer is looking to raise ₹165.16 crore through a fresh issue of 1.19 crore shares. With a strong grey market premium (GMP), impressive financial growth, and plans to reduce debt, the IPO has generated considerable interest among investors.

Advit Jewels IPO Details

The company has fixed the price band at ₹130-₹138 per share, with a minimum lot size of 100 shares. Retail investors need to invest at least ₹13,800 at the upper price band.

Key Dates

• IPO Opens: June 23, 2026
• IPO Closes: June 25, 2026
• Allotment Date: June 29, 2026
• Listing Date: July 1, 2026
• Listing Exchanges: NSE and BSE

The issue is entirely a fresh issue, meaning all funds raised will go directly to the company for growth and debt reduction.

About Advit Jewels

Founded in 2019, Advit Jewels is a Jaipur-based jewellery company known for handcrafted Kundan, Polki, Diamond, and Studded jewellery marketed under the “Rambhajo” brand.

The company operates primarily through a B2B model, supplying dealers, retailers, and showrooms across India. It also caters to premium B2C customers through customized and made-to-order jewellery.

Advit Jewels derives over 81% of its revenue from B2B operations while the remaining revenue comes from direct consumer sales.

Strong Financial Performance

The company’s financial growth has been impressive over the last three fiscal years.

Financial Year	Total Income (₹ Cr)	PAT (₹ Cr)
FY23	46.60	10.39
FY24	69.45	14.71
FY25	124.94	25.37
9M FY26	123.80	25.44

Revenue has nearly tripled since FY23, while profit has more than doubled during the same period.

The company has also maintained healthy profitability:

• PAT Margin: 20.55%
• EBITDA Margin: 29.63%
• ROE: 35.89%
• RoNW: 30.41%

These numbers indicate efficient operations and strong earnings generation.

Manufacturing Strength and Competitive Edge

Advit Jewels operates a 6,450-square-foot manufacturing facility in Jaipur equipped with modern machinery, including 3D printers and casting units.

Its key strengths include:

• Fully integrated manufacturing operations
• Skilled artisan workforce
• Diverse jewellery portfolio
• Strong quality control systems
• Pan-India customer base
• Experienced management team

The company employs 111 people and serves customers across Maharashtra, Gujarat, Delhi, Rajasthan, Punjab, Telangana, Uttar Pradesh, Haryana, and West Bengal.

Utilization of IPO Proceeds

The company plans to use the IPO proceeds for:

• ₹65 crore towards working capital requirements
• ₹65 crore towards repayment or prepayment of borrowings
• Remaining funds for general corporate purposes

The debt reduction plan is expected to strengthen the balance sheet and improve financial flexibility.

GMP Signals Strong Listing Sentiment

Advit Jewels IPO is currently commanding a grey market premium of around ₹64.

Based on the upper price band of ₹138, the estimated listing price stands at approximately ₹202 per share, implying a potential listing gain of about 46%.

While GMP is not an official indicator and may change before listing, it reflects strong investor sentiment ahead of the share debut.

Risks Investors Should Consider

Despite the strong growth story, investors should remain aware of certain risks:

• The IPO valuation appears relatively aggressive compared with historical earnings.
• Jewellery businesses are exposed to fluctuations in gold prices.
• Working capital requirements remain high in the jewellery sector.
• Return ratios such as RoCE have moderated over the past few years.
• Peer comparisons cited in the offer document may not be directly comparable.

 

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