Jaipur-based Advit Jewels has opened its SME IPO for subscription today, offering shares at a fixed price of Rs 138 each. The IPO will remain open until June 25, with the shares expected to list on the BSE SME platform on July 1. The company aims to raise approximately Rs 165 crore through this fresh issue of 1.19 crore shares.
The jewellery manufacturer, known for its handcrafted Kundan, Polki, diamond, and studded jewellery under the "Rambhajo" brand, plans to utilize the IPO proceeds for working capital requirements, debt reduction, and general corporate purposes. Holani Consultants is the lead manager for the issue, while Bigshare Services is acting as the registrar.
Advit Jewels has shown robust financial performance, with revenue increasing from Rs 69.4 crore in FY24 to Rs 124.9 crore in FY25. The company's profit after tax also rose from Rs 14.7 crore to Rs 25.4 crore during the same period. For the nine months ended December FY26, the company reported revenue of Rs 123.8 crore and a profit after tax of Rs 25.4 crore, indicating sustained business momentum.
Research firm Equivision has given a "Subscribe" rating to the IPO, highlighting Advit Jewels' strong revenue growth, improving profitability, and established market presence. The firm has benefited from expanding its product offerings and increasing customer demand, although risks such as dependence on gold and diamond prices and customer concentration remain.
With a grey market premium of 40%, the IPO is drawing significant interest from investors seeking listing gains. Subscription trends over the next few days will provide further insights into institutional and retail demand.
Background
Advit Jewels has been a prominent player in the organized jewellery market, leveraging its participation in major exhibitions to enhance brand visibility. As the company aims to expand its presence in Tier-1 and Tier-2 cities, the IPO proceeds are expected to support these growth initiatives.
As Advit Jewels' IPO progresses, investors will be closely monitoring subscription levels and market reactions. The company's strategic plans for growth and debt reduction will be key factors influencing its post-listing performance.
