Advit Jewels IPO GMP Today, Review, Price Band, Subscription & Allotment Status

Advit Jewels Limited is launching its mainboard IPO on BSE and NSE with a price band of Rs 130 to Rs 138 per share. The issue opens on June 23, 2026, and closes on June 25, 2026. The total issue size is Rs 165.16 crore, entirely a fresh issue with no offer for sale component.

The grey market premium (GMP) for Advit Jewels IPO today stands at Rs 77, pointing to an estimated listing price of Rs 215 and a potential listing gain of approximately 55.80% over the upper price band.

The company operates under the heritage brand name "Rambhajo" and is based in Jaipur, Rajasthan. It specializes in handcrafted Kundan, Polki, and fine gold jewelry, serving both wholesale distributors and direct bridal clients across nine Indian states.

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Advit Jewels IPO Key Details

Advit Jewels IPO GMP Today

The Advit Jewels IPO GMP today is Rs 77, as of June 15, 2026. Based on this GMP, the estimated listing price works out to Rs 215, which is approximately 55.80% above the upper price band of Rs 138.

For a retail applicant receiving one lot of 100 shares, the estimated listing gain at current GMP works out to approximately Rs 7,700 per lot.

A rising GMP reflects positive early sentiment, but it should not be treated as a guarantee of listing gains. GMP is an unregulated, informal market indicator and can shift quickly based on subscription trends, market conditions, and anchor investor response.

Advit Jewels IPO GMP Trend

The GMP climbed sharply from zero to Rs 91 between June 11 and June 14, before easing slightly to Rs 77 on June 15. The mild pullback likely reflects traders waiting for anchor investor disclosures before the subscription window opens. The overall trend remains strongly positive.

For live GMP updates across all active IPOs, track the IPOwiz Live GMP Tracker.

Advit Jewels IPO Date and Timeline

Advit Jewels IPO Lot Size and Minimum Investment

The minimum retail investment of Rs 13,800 is one of the more accessible entry points among mainboard IPOs, which should support broad retail participation and healthy oversubscription in the retail category.

Advit Jewels IPO Subscription Status

Subscription data will be updated here once bidding opens on June 23, 2026.

For real-time subscription updates during the bidding window, follow the IPOwiz Telegram channel.

Advit Jewels IPO Reservation Structure

The retail quota of 41,90,000 shares allows for up to 41,900 unique retail allottees at the minimum lot size of 100 shares. Given the strong GMP, retail oversubscription is likely to be significant, which will reduce individual allotment probability through a computerized lottery.

About Advit Jewels (Rambhajo)

Advit Jewels Limited was incorporated in 2019 and operates under the brand name "Rambhajo," a heritage jewelry label based in Jaipur, Rajasthan. The company specializes in handcrafted fine jewelry across three core product categories:

• Kundan Work: Setting refined 24K gold foil around uncut stones to create the characteristic glassy reflection associated with traditional North Indian bridal jewelry.
• Polki Jewelry: Incorporating raw, uncut diamonds in their natural form without industrial faceting, a format popular in premium bridal trousseaus and heritage collections.
• Studded Fine Gold: Crafting complex daily wear and bridal sets in 14K and 18K gold alloy frames set with diamonds and precious colored gemstones.

Every piece is handmade by skilled artisans (karigars) whose families have practiced these techniques for generations. This reliance on human artistry allows the company to command premium design and manufacturing charges that mass-produced jewelry cannot replicate.

The company operates in both B2B and B2C segments. Wholesale distribution to national retail showrooms, dealers, and regional boutiques across nine Indian states accounted for 81.63% of FY25 revenues. The remaining 18.37% came from direct bridal commissions through appointment-only studios catering to high-net-worth clients.

Advit Jewels Manufacturing Facility

The company's primary manufacturing operations are handled from a 6,450 sq. ft. facility in Jaipur. The facility manages the full production cycle in-house, including gold melting and wire drawing, 3D printing and design prototyping, vacuum casting and stone setting, and multi-tier quality auditing before dispatch.

Production cycles for customized high-value orders typically range between 25 to 30 days from client confirmation to final dispatch. This relatively long cycle is a function of the handcrafted nature of the product and is standard for the premium Kundan and Polki segment.

Advit Jewels IPO Financial Performance

The company has delivered consistent revenue and profit growth over three full financial years.

Revenue grew from Rs 46.60 crore in FY23 to Rs 124.94 crore in FY25, nearly tripling in two years. The 9-month FY26 figure of Rs 123.80 crore already matches the full FY25 revenue, placing the company on track to cross Rs 160 crore on an annualized basis. Net profit for the 9-month period ending December 2025 has already surpassed the full FY25 figure at Rs 25.44 crore, reflecting strong operating leverage as the business scales.

Advit Jewels IPO Key Financial Ratios

• PAT Margin: 20.31% (FY25) | 20.55% (9M FY26)
• EBITDA Margin: 29.73% (FY25) | 29.63% (9M FY26)
• ROE: 35.89% (FY25)
• RoNW: 30.41% (FY25)
• ROCE: 24.09% (FY25)
• Debt-to-Equity (post-IPO): 0.78x

PAT margins above 20% are exceptional for the jewelry sector, where most listed peers operate at single-digit net margins. The EBITDA margin of nearly 30% reflects the premium pricing power that the Rambhajo brand commands in the Kundan and Polki segment.

Advit Jewels IPO Debt Position

The company's borrowings increased significantly between FY23 and FY25 as it scaled operations.

Borrowings peaked at Rs 74.80 crore in FY25 and have already started declining. Importantly, Rs 65.00 crore of the IPO proceeds is earmarked specifically for debt repayment. Post-IPO, the debt-to-equity ratio is expected to drop from a pre-IPO high of 1.29x to approximately 0.78x, which will directly reduce annual interest expenses and support net profit growth.

Advit Jewels IPO Valuation & Peer Comparison

Advit Jewels IPO Peer Comparison

At 18.64x post-issue P/E, Advit Jewels is priced at a premium to listed peers like Radhika Jeweltech (11.1x) and RBZ Jewellers (12.8x). However, the premium appears justified when looking at the return profile. Advit's RoNW of 43.64% is more than double that of its closest listed comparable, and its PAT margin of 20.55% significantly outperforms traditional jewelry sector averages. The valuation is not cheap, but it is not stretched either, given the financial metrics on offer.

Objects of the Advit Jewels IPO

The Rs 165.16 crore fresh issue proceeds will be deployed as follows:

The equal split between working capital and debt repayment is a balanced and credible capital allocation plan. The debt repayment component is particularly significant for investors, as it directly reduces interest costs and improves the net profit trajectory post-listing.

Advit Jewels IPO Risks

• Working Capital Intensity: Manufacturing luxury fine jewelry requires holding large inventories of 24K gold bars, loose diamonds, and precious gemstones. This creates continuous liquidity pressure and makes the business sensitive to any tightening of credit lines.
• Bullion Price Volatility: Gold prices are sensitive to global macroeconomic conditions, interest rate cycles, and currency movements. A sharp correction in gold prices can cause inventory write-downs and compress margins in the near term.
• Fragmented and Competitive Sector: The fine jewelry market includes unorganized local artisans, large national retail chains, and international luxury brands. Sustaining premium pricing over the long term requires continuous design innovation and brand investment.
• Concentration in Bridal and Wedding Segment: A significant portion of revenues is tied to bridal jewelry demand, which is seasonal and linked to wedding cycles. Any disruption to wedding seasons, such as economic slowdowns or extended inauspicious periods in the Hindu calendar, can affect quarterly revenue patterns.
• Debt Remains Meaningful Pre-Listing: While the IPO proceeds will reduce debt significantly, the company enters the listing with Rs 64.92 crore in borrowings as of December 2025. Until the repayment is completed post-listing, interest servicing remains a cost.

Advit Jewels IPO Review: Should You Apply?

Advit Jewels presents one of the more compelling mainboard IPO stories in the June 2026 pipeline. The financials are strong across every key metric: PAT margins above 20%, EBITDA margins near 30%, RoNW of 43.64%, and revenue that has nearly tripled in two years.

The 100% fresh issue structure means no promoter is using this IPO as an exit. The equal allocation of proceeds between working capital and debt repayment is a credible and balanced plan. Post-IPO, the balance sheet will be meaningfully cleaner. The post-issue P/E of 18.64x is a premium to listed peers, but the return ratios justify it. The GMP of Rs 77 reflects strong pre-subscription sentiment, though the slight pullback from the Rs 91 peak on June 14 is worth monitoring.

For listing gain seekers: The current GMP suggests strong listing day potential. Monitor Day 1 and Day 2 subscription data, particularly QIB participation, before the final day. A heavily subscribed QIB book will be a strong confirmation signal.

For long-term investors: The brand, margins, and growth trajectory are genuinely attractive. The key risk to watch is whether revenue growth can sustain post the debt repayment phase and whether the company can expand its B2C presence to reduce wholesale dependence. Conservative investors may prefer to wait for post-listing price discovery before taking a position, particularly given the premium valuation relative to listed peers.

How to Check Advit Jewels IPO Allotment Status & Chances

The basis of allotment for Advit Jewels IPO is expected to be finalized on June 29, 2026. Refunds will be initiated and shares will be credited to demat accounts on June 30, 2026.

Advit Jewels IPO Allotment Chances

Allotment probability analysis will be updated here once Day 3 subscription data is available on June 25, 2026. Key factors that will determine allotment chances include the total retail applications received, retail category oversubscription multiple, and whether QIB and NII categories are fully subscribed by Day 2.

Given the strong GMP and accessible minimum investment of Rs 13,800, retail participation is expected to be high. In heavily oversubscribed mainboard IPOs, retail allotment is determined by a computerized lottery, and the probability of allotment per application decreases as the oversubscription multiple rises. Applying from multiple family accounts, where eligible, is a common strategy to improve overall allotment probability.

Frequently Asked Questions: Advit Jewels IPO