The initial public offering (IPO) of Advit Jewels Ltd witnessed robust investor demand, with the issue being subscribed 212.63 times by the close of bidding on Thursday, according to stock exchange data.

The IPO received bids for 1,78,16,51,400 equity shares against the 83,79,300 shares on offer.

The Non-Institutional Investor (NII) category attracted the strongest response, garnering subscriptions of 536.38 times. The Qualified Institutional Buyers (QIBs) portion was subscribed 174.98 times, while the retail investor segment was subscribed 95.30 times.

Advit Jewels is engaged in the manufacturing and distribution of handcrafted jewellery under its Rambhajo brand. Based in Jaipur, Rajasthan, a key hub for India's gemstone and jewellery industry, the company specialises in traditional and contemporary jewellery, including Kundan, Polki, diamond and studded jewellery.

The company combines traditional craftsmanship with modern design aesthetics to cater to evolving consumer preferences. Its products are created using age-old jewellery-making techniques while incorporating contemporary elements, enabling it to offer designs that blend heritage with modern appeal.

Advit Jewels' portfolio is aimed at customers seeking handcrafted jewellery that reflects Indian cultural traditions while aligning with current fashion trends.

Listing timeline

Shares of Advit Jewels are scheduled to be listed on the stock exchanges on July 1, 2026.

Latest GMP

In the grey market, Advit Jewels's grey market premium (GMP) was reported at Rs 56 per share on the IPO's opening day (Tuesday), which declined to Rs 52 on Wednesday and climbed again to Rs 56 on Thursday. Based on the upper price band of Rs 138, the latest GMP suggests a potential listing gain of around 40.58 per cent.