Jaipur-based Advit Jewels has fixed the price band of its initial public offering at Rs 130 to Rs 138 per share. The Rs 165.16 crore issue will open for subscription on June 23 and close on June 25, while bidding for anchor investors is scheduled for June 22.

The initial share sale is entirely a fresh issue of 1,19,68,000  shares, with no offer-for-sale (OFS) component. According to the red herring prospectus (RHP), Rs 65 crore from the proceeds will be used for incremental working capital needs, ₹65 crore for debt repayment, and the remaining amount for general corporate purposes.

One lot comprises 100 shares and multiples thereof. Of the net issue, 50 per cent has been reserved for qualified institutional buyers, 35 per cent for retail individual investors, and 15 per cent for non-institutional investors. Holani Consultants is the sole book-running lead manager to the issue, and Bigshare Services is the registrar.

Incorporated in 2019, Advit Jewels manufactures and sells traditional and contemporary handcrafted fine jewellery under the brand name Rambhajo. It specialises in Polki, Kundan, diamond and studded jewellery, and offers rings, necklaces, earrings, bangles and customised pieces. The company mainly follows a business-to-business model, serving dealers, showrooms and jewellery retailers.

The company said its shares are scheduled to be listed on both the BSE and the National Stock Exchange on July 1, Wednesday. Last heard, it was commanding a grey market premium of 90-95 apiece, suggesting a listing pop of Rs 65-68 per cent for the investors.

Advit Jewels reported a net profit of Rs 25.44 crore with an income of Rs 123.80 for the period ended on December 31, 2025. The company's net profit came in at Rs  25.37 crore with a revenue of Rs 124.94 crore for the financial year 2024-25. At the current valuations, it is commanding a market capitalization of little more than 630 crore.