Advit Jewels IPO Day 2: Should You Apply? Know GMP, Price, Lot Size, Recommendation

Advit Jewels IPO GMP: The initial public offering of Advit Jewels Ltd, which was opened for public subscription on June 23, is witnessing its second day of bidding today, Wednesday, June 24. The IPO has so far received a stellar response from investors. Till 12:35 pm today, the Rs 165.16-crore mainboard IPO received a strong 25.55x subscription, garnering bids for 21,40,65,500 shares as against the 83,79,300 shares on offer.

Its retail category has received a 23.43x subscription so far, while the qualified institutional buyer (QIB) quota has received a muted 1.16x subscription. The non-institutional investor (NII) category received a 62.97x subscription.

The IPO will be closed tomorrow, June 25, at around 5:00 pm. Its listing is scheduled to take

place on both NSE and BSE on July 1, 2026.

Advit Jewels IPO Price

The company has set the IPO price band at Rs 130 to Rs 138 per share.

Advit Jewels IPO Lot Size

Investors can bid for a minimum of 100 shares, requiring Rs 13,800 at the upper price band. The minimum investment is Rs 2.07 lakh for small NIIs (15 lots) and Rs 10.07 lakh for big NIIs (73 lots).

NIIs (non-institutional investors) include high-net-worth individuals (HNIs), trusts, corporates, and other investors applying for more than Rs 2 lakh worth of shares in an IPO.

Advit Jewels IPO GMP

According to market observers, unlisted shares of Advit Jewels Ltd were trading at Rs 193 apiece in the grey market, which is 39.86 per cent grey market premium (GMP) over the upper IPO price of Rs 138. It indicates strong listing gains for investors on July 1.

The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Advit Jewels IPO: Should You Subscribe?

Brokerage firm Anand Rathi has assigned a ‘Subscribe for Long Term’ rating to the Advit Jewels IPO. The brokerage said the company has carved out a niche in the premium handcrafted jewellery segment through its focus on Polki, Kundan, Jadau and Meenakari jewellery under the century-old Rambhajo’s brand.

According to Anand Rathi, Advit Jewels benefits from specialised design capabilities, an established artisan network, integrated manufacturing operations in Jaipur and a strong presence in the wholesale jewellery market. The brokerage noted that the company’s emphasis on craftsmanship-led jewellery allows it to generate value beyond the underlying gold content.

On valuation, Anand Rathi said the issue appears expensive. “While the issue appears aggressively priced, the company’s strong growth prospects, scalable business model, and favourable industry outlook support its long-term potential. Accordingly, we assign a ‘Subscribe for Long Term’ rating to the IPO,” the brokerage said.

At the upper price band, the IPO is valued at a price-to-earnings (P/E) multiple of 25.1 times FY25 earnings and 19.7 times annualised FY26 earnings, according to the brokerage.

Advit Jewels IPO: More Details

The IPO comprises a fresh issue of 1.20 crore equity shares with no offer-for-sale component. Proceeds from the issue will be utilised towards the repayment of borrowings worth Rs 65 crore, funding working capital requirements of Rs 65 crore, and general corporate purposes.

Advit Jewels is engaged in the manufacturing and sale of traditional and contemporary handcrafted fine jewellery. The company markets its products under the ‘Rambhajo’ brand and specialises in customised Kundan, Polki, diamond and studded jewellery.

The equity shares of the company are proposed to be listed on the BSE and the NSE.