Advit Jewels India IPO GMP, Price Band, Dates & Review

Advit Jewels IPO - Company Analysis

Advit Jewels IPO under the Mainboard IPO category is a book-built issue of Rs. 165.16 Cr by Advit Jewels Limited. The company is engaged in the design, manufacturing, and sale of handcrafted fine jewellery under its flagship brand "Rambhajo". It specializes in Kundan, Polki, Diamond, and Studded jewellery, combining traditional craftsmanship with contemporary designs to create elegant and timeless pieces.

The company's product portfolio includes necklaces, earrings, rings, bangles, bracelets, and customized jewellery crafted in 14K and 18K gold, adorned with diamonds and precious or semi-precious stones.

Advit Jewels primarily operates through a Business-to-Business (B2B) model, supplying jewellery to retailers, dealers, and showrooms across India. The company also serves Business-to-Consumer (B2C) customers by offering customized and exclusive jewellery pieces. Its products are handcrafted by highly skilled artisans, preserving traditional jewellery-making techniques passed down through generations. During FY 2025, the company generated 81.63% of its revenue from the B2B segment and 18.37% from the B2C segment.

Advit Jewels IPO Details

The Advit Jewels IPO opens for subscription on 23 June 2026 and closes on 25 June 2026. The IPO allotment is expected to be finalized on 29 June 2026, while refunds and share credit to demat accounts are scheduled for 30 June 2026.

The company aims to raise Rs. 165.16 crore through this Mainboard IPO, which consists entirely of a fresh issue of 1.20 crore equity shares.

The tentative Advit Jewels IPO listing date is 1 July 2026, and the shares are proposed to be listed on both BSE and NSE.

The Advit Jewels IPO price band has been fixed at Rs. 130 to Rs. 138 per equity share.

IPO Timetable (Tentative)

Industry Overview

Company Financials 

(Amount in Cr)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	140.85	67.21	29.01
Total Income	124.94	69.45	46.60
Profit After Tax	25.37	14.71	10.39
EBITDA	37.15	18.95	12.77
NET Worth	58.13	32.80	18.08
Reserves	58.12	32.79	18.07
Total Borrowing	74.80	19.70	5.84

Cash Flows

(Amount in lac)

Revenue Bifurcation

                                                                (Source: RHP)

The Objective of the Issue

The company proposes to utilize the net proceeds from the IPO for the following purposes:

• Funding the incremental working capital requirements of the Company aggregating to approximately Rs. 65 crore.

• Repayment and/or pre-payment, in full or in part, of certain outstanding borrowings availed by the Company from scheduled commercial banks aggregating to approximately Rs. 65 crore.

• Meeting general corporate purposes.
  

Listed Peers of Advit Jewels Ltd. 

Valuation

Evaluation of P/E Ratio

Based on the FY 2025 earnings, Advit Jewels reported an EPS (Earnings Per Share) of Rs. 7.92. Considering the upper price band of Rs. 138 per share, the IPO is priced at a P/E ratio of 17.42x, which appears reasonably valued compared to peers operating in the jewellery and luxury goods segment.

Advit Jewels IPO Review

Advit Jewels Limited has established itself as a reputed player in the handcrafted jewellery industry through its strong brand presence, skilled artisan network, and diversified product portfolio. The company caters to both B2B and B2C customers and has demonstrated steady growth in its operations. Investors may consider the company's financial performance, market position, and growth prospects before making an investment decision.

IPO Strengths

• Established brand presence through the "Rambhajo" jewellery brand.

• Strong expertise in handcrafted Kundan, Polki, Diamond, and Studded jewellery.

• Diversified product portfolio catering to multiple customer segments.

• Long-standing relationships with retailers, dealers, and showroom partners.

• Experienced management team with extensive industry knowledge.

• Combination of traditional craftsmanship and contemporary jewellery designs.

IPO Weaknesses

• High dependence on gold, diamond, and precious stone prices.

• Business is exposed to fluctuations in consumer demand and discretionary spending.

• Significant revenue concentration from the B2B segment.

• Intense competition from organized and unorganized jewellery players.

• Working capital-intensive nature of operations.

• Exposure to regulatory and compliance risks related to the jewellery industry.

Advit Jewels IPO GMP (Grey Market Premium)

Advit Jewels IPO GMP today is Rs. ₹78 as of 16 June 2026 at the time of writing. Based on the upper price band of Rs. 138, the estimated listing price is around Rs. 224 per share, indicating a potential listing gain of approximately 62.32%.

Note: Grey Market Premium (GMP) is unofficial and changes frequently based on market sentiment. Investors should not rely solely on GMP while making investment decisions.

Advit Jewels IPO Summary

IPO Lot Details 

Advit Jewels IPO Allotment Status

Investors can check the Advit Jewels IPO Allotment Status online once the allotment process is completed. The allotment status will be available on the official website of the IPO Registrar as well as on the BSE website.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Advit Jewels Ltd.

• Mr. Nitin Gilara

• Mr. Prateek Gilara

• Mr. Vipul Gilara 

• Mr. Krishna Vardhan Gilara.
  
  

IPO Lead Managers

• Holani Consultants Pvt. Ltd.
  

Dividend Policy

Advit Jewels Limited has not declared or paid any dividend to its shareholders during the last three financial years. The company has primarily retained its earnings to support business growth, working capital requirements, and expansion initiatives.

Future dividend declarations, if any, will depend on various factors such as profitability, cash flows, financial position, working capital needs, capital expenditure plans, and overall business requirements. There can be no assurance that the company will declare dividends in the future.

Conclusion

Advit Jewels IPO provides investors with an opportunity to participate in a well-established handcrafted jewellery business operating under the renowned "Rambhajo" brand. The company has demonstrated strong financial growth, healthy profitability, and a diversified product portfolio catering to both B2B and B2C customers. Its experienced management team, extensive industry expertise, and focus on premium jewellery segments position it well for future growth.

However, investors should also consider factors such as fluctuations in gold and diamond prices, intense industry competition, and the working capital-intensive nature of the business before making an investment decision. Overall, the IPO may be suitable for investors seeking exposure to India's growing branded jewellery market with a medium- to long-term investment horizon.

Click Here to Download the Advit Jewels DRHP

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