Advit Jewels is scheduled to finalize the basis of allotment of its shares soon. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate by the weekend or latest by Monday, June 29. The niche jewellery maker saw a strong response from the investors.

The IPO of Advit Jewels was open for bidding between June 23 and June 25. It had offered its shares in the price band of Rs 130-138 per share with a lot size of 100 shares. The company raised a total of Rs 165 crore from its IPO, which was entirely a fresh share sale of 1,19,68,000 equity shares.

The issue was overall subscribed 212.63 times, attracting bids worth over Rs 24,500 crore via over 32 lakh applications. The quota for non-institutional investors (NIIs) was subscribed a whopping 174.98 times, while the allocation for retail investors was subscribed 536.38 times. The portion for qualified institutional bidders (QIBs) was booked only 95.30 times.

Based on the bidding, here are the odds of allotment for IPO of Advit Jewels:

• Big HNI category: 1 investor out of 110 investors will get 1,500 shares (Probability: 0.91 per cent)
• Small HNI category: 1 investor out of 470 investors will get 1,500 shares (Probability: 0.21 per cent)
• Retail category: 1 investor out of 70 investors will get 100 shares. (Probability: 1.43 per cent)

Incorporated in 2019, Advit Jewels is a Jaipur-based jewellery company, specializing in handcrafted fine jewellery, with expertise in Kundan, Polki, Diamond and Studded pieces under the brand name 'Rambhajo'. It blends traditional techniques with modern designs to create unique pieces that are both timeless and contemporary.

The grey market premium (GMP) of Advit Jewels has seen sudden and sharp corrections, even strong bidding amid mixed market sentiments. Last heard, the company was commanding a grey market premium (GMP) of Rs 44 apeice, suggesting a listing of 32 per cent for the investors. However, its GMP stood around Rs 60-65 on the first day of the bidding.

Holani Consultants is the book running lead manager of Advit Jewels IPO and Bigshare Services is the registrar of the issue. Credit of shares and/or initiation of refund shall be done on Tuesday, June 30. Shares of the company shall be listed on both BSE and NSE with Wednesday, July 01 as the date of listing.

Investors, who had bid for the issue of Advit Jewels IPO, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Advit Jewels Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also. 

• Visit https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘RAMBHAJO’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of Bigshare Services Limited (https://ipo.bigshareonline.com/IPO_Status.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

• Go to the web portal of Bigshare Services Private Limited
• Select the IPO in dropbox whose name will be populated only if the allotment is finalized
• You shall be required to select either one of the three modes: Application number/CAF No, Beneficiary ID, or PAN ID.
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit Search to know your allotment status.