Advit Jewels shares list at 37% premium over IPO price on NSE, BSE

Shares of Jaipur-based handcrafted jewellery maker Advit Jewels made a blockbuster debut on Wednesday, listing at a premium of up to 36% over their issue price. The stock opened at Rs 188.90 apiece on the NSE, a 36.8% premium over the issue price of Rs 138. On the BSE, it debuted at Rs 187, marking a 35.5% premium over the IPO price.

The listing was in line with unlisted market expectations. The grey market premium (GMP) on the stock hovered around Rs 50 ahead of the listing, implying a premium of nearly 36% over the upper issue price.

Advit Jewels' IPO received an overwhelming response across investor categories, with the issue being subscribed 212.63 times against the 83.97 lakh shares on offer.


Demand was particularly strong among institutional and high-net-worth investors. The Non-Institutional Investor (NII) category was subscribed 536.38 times, while Qualified Institutional Buyers (QIBs) bid 174.98 times the shares reserved for them. Retail investors also showed significant interest, with their quota subscribed 95.30 times.

Fresh Issue to Fund Growth and Debt Reduction

The Rs 165.16 crore IPO comprises a fresh issue of 1.20 crore equity shares, with no Offer for Sale (OFS) component, ensuring that the entire proceeds will flow directly to the company. The shares were offered in a price band of Rs 130–138 apiece.

Advit Jewels plans to deploy the funds to strengthen its balance sheet and accelerate business growth. Around Rs 65 crore will be used to meet incremental working capital requirements, supporting day-to-day operations and expansion initiatives.

Another Rs 65 crore has been earmarked for the repayment or prepayment of existing borrowings, a move expected to reduce debt and improve the company's financial health. The remaining proceeds will be utilised for general corporate purposes, providing greater operational flexibility and supporting future strategic initiatives.

Company Profile

Headquartered in Jaipur, Rajasthan, one of India's leading jewellery manufacturing hubs, Advit Jewels operates under the Rambhajo brand and specialises in handcrafted fine jewellery.

Its portfolio includes a wide range of traditional and contemporary designs, featuring Kundan, Polki, diamond-studded, and gemstone jewellery. The company offers necklaces, earrings, rings, bangles, and customised pieces crafted in 14-carat and 18-carat gold, blending traditional craftsmanship with modern design aesthetics.

While Advit Jewels primarily operates through a business-to-business (B2B) model, supplying wholesalers, retailers, and jewellery showrooms, it also caters to select retail customers with bespoke, made-to-order jewellery. Its emphasis on personalisation and customisation has helped the company carve out a niche in India's evolving jewellery market.

The company operates a fully integrated manufacturing facility in Jaipur spanning approximately 6,450 square feet. Equipped with advanced technologies such as 3D printers, casting systems, and polishing machines, the facility handles the complete production cycle in-house—from gold processing and stone setting to polishing and final quality inspection.

A skilled workforce of artisans supports the manufacturing process, with every jewellery piece undergoing multiple quality checks before reaching customers.

Financial Recap

Advit Jewels has reported steady growth in both revenue and profitability. For the nine months ended December 31, 2025, the company recorded revenue from operations of Rs 123.79 crore and net profit of Rs 25.44 crore, reflecting strong demand for its products and improving operational efficiency.

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