About Advit Jewels IPO
Advit Jewels Limited is set to launch its IPO for public subscription on June 23, 2026, and will remain open until June 25, 2026.
The price band of the Advit Jewels IPO is set between ₹130 and ₹138 per share. The allotment is expected to be finalised on June 29, 2026.
This IPO will list on both the BSE and NSE on July 1, 2026.
The Advit Jewels IPO is a 100% fresh issue of up to 1,19,68,000 equity shares with a face value of ₹10 each. Unlike OFS-based IPOs, the company will directly receive the proceeds from this IPO to fund its business growth.
Business Overview of Advit Jewels
Advit Jewels Limited, incorporated in 2019 and headquartered in Jaipur, Rajasthan, is a manufacturer and seller of traditional and contemporary handcrafted fine jewellery under the heritage brand name "Rambhajo" (since 1921). The company specialises in Kundan, Polki, diamond, and studded jewellery pieces.
The company's product portfolio includes necklaces, earrings, rings, bangles, and customised bridal and occasion-led jewellery pieces. It works primarily with gold, diamonds, and coloured stones.
Advit Jewels operates predominantly through a B2B model, supplying to dealers, showrooms, and jewellery retailers across India.
The company operates an integrated manufacturing facility in Jaipur (6,450 sq. ft.) equipped with advanced machinery, including
- 3D printers and casters
- Enabling end-to-end in-house production – from gold melting and casting to polishing and quality testing.
Any sort of customised or high-value jewellery is typically delivered within 25–30 days.
Advit Jewels has a pan-India presence, generating revenue from states including Maharashtra, Haryana, Gujarat, Delhi, Punjab, Rajasthan, West Bengal, Uttar Pradesh, and Telangana. As of April 30, 2026, the company had 111 employees on its payroll.
Advit Jewels IPO Date, Price, and Other Details
The following are the details of the upcoming IPO of Advit Jewels.
Particulars | Details |
IPO Size | Fresh issue of up to 1,19,68,000 equity shares |
Offer Type | 100% Fresh Issue (no OFS) |
Total Number of Equity Shares | 1,19,68,000 shares |
Price Band | ₹130 to ₹138 per share |
Issue Dates | Opens: Jun 23, 2026 · Closes: Jun 25, 2026 |
Minimum Bid Lot | 1 lot of 100 shares |
Minimum Investment (Retail) | ₹13,800 (100 shares) |
Allotment Date | Jun 29, 2026 |
Credit to Demat | Jun 30, 2026 |
Listing Date | Jul 1, 2026 |
Face Value | ₹10 per share |
Lead Manager (BRLM) | Holani Consultants Pvt. Ltd. |
Registrar | Bigshare Services Pvt. Ltd. |
Listing Exchanges | National Stock Exchange of India (NSE) & Bombay Stock Exchange (BSE) |
Advit Jewels IPO Reservation: Who Can Apply?
The Advit Jewels IPO has the following investor category reservation:
Investor Category | (%) of Shares Offered |
QIB Shares Offered | Not more than 50% |
Retail Shares Offered | Not less than 35% |
NII Shares Offered | Not less than 15% |
Strengths and Risks of Advit Jewels IPO
With every business owning its strengths and risks, even the Advit Jewels IPO has its potential plus points and downsides to be aware of.
Here is a brief business analysis (as per RHP) below:
Strengths
- Heritage brand "Rambhajo" with roots tracing back to 1921, giving the company a legacy brand recall in traditional jewellery.
- Revenue grew from ₹46.60 crore (FY23) to ₹124.94 crore (FY25) with a CAGR of ~64% over two years.
- The PAT margins remained in the 20–22% range across all three reported fiscals.
- Integrated in-house manufacturing with advanced tech (3D printers, casters) for end-to-end quality control.
- Diversified product range spanning Kundan, Polki, diamond, and studded jewellery across necklaces, rings, earrings, and bangles.
- Pan-India B2B distribution across 9+ states with national and regional jewellery retailers.
Risks
- Although the business is long, it is a relatively young company (incorporated in 2019) with a limited operating track record.
- Heavy dependence on the B2B segment (81.63% of FY25 revenue). Any loss of key dealer/retailer relationships could impact sales.
- It is a capital-intensive business where gold procurement requires immediate cash. However, customer sales operate on credit cycles.
- Negative operating cash flows in FY25 indicate ₹36.98 crore cash is locked in inventory and receivables.
- Exposed to gold and precious stone price volatility, which directly impacts raw material costs and margins.
- Small scale relative to established listed jewellery peers.
Future Plans/Strategies
- Fund incremental working capital to support a higher inventory of gold, diamond polki, coloured stones, and finished jewellery.
- Repay/prepay outstanding borrowings to reduce debt servicing costs and improve the debt-equity profile.
- Expand the design portfolio and service larger order volumes from B2B customers.
- Strengthen brand presence through listing on BSE and NSE.
- Explore growth in the B2C segment alongside the existing B2B model.
Advit Jewels IPO Objectives – How Will the Funds Be Used?
The Advit Jewels IPO is a 100% fresh issue. The company will directly receive the proceeds from this IPO. Unlike OFS-based IPOs, the raised capital will be deployed into the business.
The key objectives of the offer, as stated in the RHP, include:
Objective | Amount (₹ crore) |
Incremental working capital requirements | 65.00 |
Repayment/prepayment of outstanding borrowings from banks | 65.00 |
General corporate purposes | Remaining amount |
Promoter Shareholding of Advit Jewels IPO
The promoter group of Advit Jewels Limited comprises the Gilara family. The promoters include Nitin Gilara, Prateek Gilara, Vipul Gilara, and Krishna Vardhan Gilara.
Promoter | Pre-Issue Holding |
Vipul Gilara | 46.53% |
Nitin Gilara | 23.55% |
Prateek Gilara | 23.55% |
Krishna Vardhan Gilara | 0.66% |
Promotors (A) | 99.70% |
Others (Kiran Gilara, Rachna Gilara, & Swati Gilara) | 0.30% (0.1% each) |
Total (A + B) | 100% |
Financial Performance (₹ in crores) of Advit Jewels IPO
Here's the table outlining the financial performance of Advit Jewels Limited from FY 2023 to FY 2025 and up to 31st December, 2025.
Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
Assets | 164.20 | 140.85 | 67.21 | 29.01 |
Total Income | 123.80 | 124.94 | 69.45 | 46.60 |
Profit After Tax | 25.44 | 25.37 | 14.71 | 10.39 |
EBITDA | 36.68 | 37.15 | 18.95 | 12.77 |
NET Worth | 83.65 | 58.13 | 32.80 | 18.08 |
Reserves and Surplus | 51.64 | 58.12 | 32.79 | 18.07 |
Total Borrowing | 64.92 | 74.80 | 19.70 | 5.84 |
Key Performance Metrics of Advit Jewels
Based on the financials available in the RHP, the following key performance metrics of Advit Jewels Limited can be considered.
KPI | As of Dec 31, 2025 | Values (as of FY 2024-25) |
Return on Equity (ROE) | 35.89% | 55.79% |
Net Asset Value (NAV) | 26.13 | 18.16 |
Price/Earnings (P/E) Ratio | - | |
Earnings Per Share (EPS - Diluted) | 7.95 | 7.92 |
EBITDA Margin (%) | 29.63% | 29.73% |
PAT Margin (%) | 20.55% | 20.30% |
Debt to Equity Ratio | 0.78 | 1.29 |
(Note: P/E, market capitalisation, and post-IPO NAV are subject to final pricing and allotment. Refer to the RHP for complete details.)
Registrar of Advit Jewels IPO
The Registrar of Advit Jewels IPO is Bigshare Services Pvt. Ltd.
Phone: +91 22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com
Lead Manager of Advit Jewels IPO
Holani Consultants Pvt. Ltd is the lead manager handling the IPO process of Advit Jewels Limited.
How To Apply for the Advit Jewels IPO?
You can apply for the Advit Jewels IPO on any financial platform by following these simple steps:
Step 1: Open a Demat and trading account with a broker
Step 2: Log in and go to the IPO section
Step 3: Select Advit Jewels IPO
Step 4: Enter the lot size (minimum 100 shares) and bid price (₹130–₹138)
Step 5: Approve the UPI mandate to block funds
Step 6: Submit your application
Once applied, you can track the Advit Jewels IPO allotment status, and if allotted, shares will be credited to your Demat account before listing.
