Advit Jewels made a strong stock market debut with its shares listing at a premium of approximately 37% over the IPO price
Shares of Advit Jewels Limited, a handcrafted jewelry manufacturer, officially began trading on major domestic stock exchanges today, July 1, 2026. The stock made a strong public market entry, opening at ₹188.90 per share on the National Stock Exchange. This opening price represents a substantial premium of 36.88% over its upper initial public offering price band of ₹138.
This strong market debut instantly boosted the company’s total market capitalization to approximately ₹865 crore in the initial trading hours. The public issue, whose bidding cycle ended last week, had a price band of ₹130 to ₹138 per equity share. The successful listing reflects positive investor sentiment and strong demand generated during the initial subscription phase.
The company’s IPO consisted entirely of a fresh issue of 12 million equity shares, raising a total of ₹165.16 crore from the primary market. Notably, the transaction did not include an offer-for-sale component, meaning all generated funds will go directly to the company’s balance sheet to support business infrastructure.
The bidding window for the issue opened on June 23, 2026, and closed on June 25, 2026, witnessing strong interest across all bidding categories. By the close of the three-day subscription window, the entire public issue was subscribed 212.63 times. High-net-worth individuals led the way, with bookings in their reserved category exceeding 534.91 times.
Meanwhile, the institutional investor quota was filled 174.98 times, while individual retail investors subscribed 91.81 times their allocated portion. Bidders applied for a minimum lot size of 100 shares, requiring a baseline retail investment of ₹13,800 at the upper price limit. Following the significant oversubscription, the base share allotment was successfully finalized on June 29, 2026.
The Jaipur-based jewelry company intends to deploy the capital raised on specific strategic avenues. According to the prospectus, the firm will inject ₹650 million to meet its growing working capital requirements. The remaining ₹650 million will be earmarked for partial or full repayment of existing bank loans, while the remaining proceeds will fund general corporate operational expenses.
The company operates a mixed commercial model, primarily focusing on business-to-business distribution by supplying to regional showrooms and wholesale dealers across nine states. Financially, the company has shown rapid upward growth, with total operating income increasing from ₹46.60 crore in fiscal year 2023 to ₹124.94 crore by the end of March 2025.
Profit after tax for the same period also increased similarly, from ₹10.39 crore to ₹25.37 crore. With the successful completion of its listing on the NSE under the trading symbol ‘RAMBHAJO’, market analysts indicate that the post-listing price-to-earnings multiple has increased to 25.51 times. Investors are now monitoring how efficiently the company expands its operating scale to maintain these high market valuations.
Incorporated in 2019, Advit Jewels specializes in fine heritage pieces, including Kundan, Polki, and diamond-studded jewelry. The company conducts its design and manufacturing operations from a centralized 6,450-square-foot facility in Jaipur. This setup combines traditional manufacturing techniques with modern technology, including a high-tech casting unit and 3D printers.
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