Advit Jewels Chairman and Managing Director Nitin Gilara

Jaipur-based manufacturer of handcrafted jewellery Advit Jewels, which is planning to raise around ₹165 crore through its Initial Public Offering next week, is looking to expand its B2C business and enter overseas markets, especially the UK and the US.

The IPO, scheduled to open on June 23 for subscription, consists of fresh issue of up to around 1.19 crore equity shares of face value of ₹10 each. The company has fixed the price band at ₹130- ₹138 per equity share.

“Currently, we are doing B2B business. That is around 80 per cent of our turnover. Now, we will be approaching the B2C customer also, and we will be expanding on that side,” Advit Jewels Chairman and Managing Director Nitin Gilara told businessline.

The company, which has the brand name Rambhajo, is a manufacturer and seller of traditional and contemporary handcrafted fine jewellery, specializing in Kundan, Polki, diamond and studded pieces. The proceeds from its fresh issue worth ₹65 crore will be for funding incremental working capital requirements of the company, ₹65 crore for repayment/pre-payment, in full or in part, of certain outstanding borrowings availed, and general corporate purposes.

debt free

“We have decided that we will pay the total debt, and the company will become totally debt free. The balance money will be used for working capital, which is needed for jewelry business and Polki business, Some money will be used for expanding the company geographically. We will be adding new showrooms across the country,” Gilara said.

Its revenue from operations for the nine-months ended December 31, 2025 was ₹123.79 crore and its net profit was ₹25.44 crore.

Holani Consultants is the book-running lead manager, and Bigshare Services is the registrar of the offer. The offer is being made through the book-building process, wherein not more than 50 per cent of the net offer is allocated to qualified institutional buyers, and not less than 15 per cent and 35 per cent of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.

Published on June 18, 2026