Advit Jewels
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
Day-wise premium · 7 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 01 Jul 2026 | ₹49.5 | +35.87% | ₹3,800 | ₹187.5 | ₹4,950 |
| 30 Jun 2026 | ₹49.5 | +35.87% | ₹3,800 | ₹187.5 | ₹4,950 |
| 29 Jun 2026 | ₹50 | +36.23% | ₹3,800 | ₹188 | ₹5,000 |
| 28 Jun 2026 | ₹49 | +35.51% | ₹3,700 | ₹187 | ₹4,900 |
| 27 Jun 2026 | ₹49 | +35.51% | ₹3,700 | ₹187 | ₹4,900 |
| 26 Jun 2026 | ₹46 | +33.33% | ₹3,500 | ₹184 | ₹4,600 |
| 25 Jun 2026 | ₹46 | +33.33% | ₹3,500 | ₹184 | ₹4,600 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 23 Jun 2026 – 25 Jun 2026
- Listing date
- 01 Jul 2026
- Face value
- ₹10 per share
- Price band
- ₹138
- Issue price
- ₹138 per share
- Lot size
- 100 shares
- Total issue size
- ₹165 Cr
- Market cap at offer price
- ₹632 Cr
- Promoter holding
- 94.59% → 69.88% pre-issue → post-issue
- ISIN
- INE1SJO01012
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Holani Consultants Pvt.Ltd.
- Registered office
- Flat No.301, Pearl Premier, Plot No.4, Jamna Lal Bajaj Marg, C-Scheme, Rajasthan
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 35,88,700 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 100 shares per lot, in multiples, at ₹138
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 100 | ₹13,800 |
| Retail (max) | 14 | 1,400 | ₹1,93,200 |
| S-HNI (min) | 15 | 1,500 | ₹2,07,000 |
| S-HNI (max) | 72 | 7,200 | ₹9,93,600 |
| B-HNI (min) | 73 | 7,300 | ₹10,07,400 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹138 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 7.50 | 7.41 |
| P/E (×) | 18.40 | 18.62 |
| Price to book (×) | 7.60 | — |
| Market cap | — | ₹632 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 43.64%
- ROCE
- 27.48%
- Debt / equity
- 1.29
- PAT margin
- 20.30%
- EBITDA margin
- 29.73%
- NAV per share
- ₹18.16
- Price to book
- 7.60
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Advit Jewels
Advit Jewels Limited is a manufacturer and seller of traditional and contemporary handcrafted fine jewellery, specializing in Kundan, Polki, Diamond and Studded pieces including necklaces, earrings, rings, bangles and customized jewellery pieces. The company works primarily with gold, diamonds, and colored stones in both 14 Carat and 18 Carat gold. Operating on a B2B model serving dealers, showrooms and jewellery retailers, as well as B2C customers for exclusive made-to-order pieces, Advit generates revenue across 24 states in India and select international markets. The company's operations comprise Cut setted Diamond jewellery with Polki and Gold Kundan Meena Polki Jadau Jewellery, with manufacturing facilities located in Jaipur, Rajasthan.
Company Analysis
from RHPAdvit Jewels Limited is a manufacturer and seller of handcrafted fine jewellery specializing in Kundan, Polki, Diamond and Studded pieces, operating in the gems and jewellery industry.
Advit Jewels Limited is a manufacturer and seller of traditional and contemporary handcrafted fine jewellery, specializing in Kundan, Polki, Diamond and Studded pieces including necklaces, earrings, rings, bangles and customized jewellery pieces. The company works primarily with gold, diamonds, and colored stones in both 14 Carat and 18 Carat gold. Operating on a B2B model serving dealers, showrooms and jewellery retailers, as well as B2C customers for exclusive made-to-order pieces, Advit generates revenue across 24 states in India and select international markets. The company's operations comprise Cut setted Diamond jewellery with Polki and Gold Kundan Meena Polki Jadau Jewellery, with manufacturing facilities located in Jaipur, Rajasthan.
Objects of the Issue
- Funding incremental working capital requirements ₹ 6,500.00 Lakhs p.3
- Repayment/pre-payment of certain outstanding borrowings availed by our Company from scheduled commercial banks ₹ 6,500.00 Lakhs p.4
- General Corporate Purpose p.4
Issue Structure
- Face Value
- ₹ 10
Business Model
Advit operates primarily on a B2B model, serving dealers, showrooms and jewellery retailers with handcrafted fine jewellery products. The company also caters to B2C customers for exclusive, made-to-order pieces. Revenue is generated through the sale of traditional and contemporary handcrafted jewellery pieces made from gold, diamonds, and colored stones.
Business Segments
SWOT Analysis
- • Organized manufacturing with integrated operations merging tradition and technology(p.2)
- • Diversified product portfolio across customer segments with design innovation capability(p.2)
- • Experienced leadership with 26 years, 18 years, and 14+ years of jewellery sector experience(p.3)
- • Strong profitability with PAT margin of 20.55% and EBITDA margin of 29.63%(p.6)
- • Geographic reach across 24 states in India with presence in select international markets(p.1)
- • Robust operational systems and risk mitigation framework(p.2)
- • Strong specialization in Kundan and Polki jewellery craftsmanship(p.1)
- • Extreme revenue concentration with top 5 customers generating 66.88% of revenue in FY2023(p.1)
- • Massive inventory buildup from ₹1,041.67 Lakhs (FY2023) to ₹10,723.91 Lakhs (FY2025) exposing working capital risk(p.6)
- • High attrition rate of 50% in FY25, significantly above industry average(p.7)
- • Extreme supplier concentration with 88.27% of raw materials from top 5 suppliers(p.7)
- • Geographic concentration with entire manufacturing operations based in Jaipur City(p.7)
- • Brand trademark registration incomplete; pending approval for TM-P assignment and applications(p.7)
- • Inventory holding days increased to 199 days in FY2025 while payable days compressed to 7 days, creating liquidity strain(p.7)
- • History of negative cash flows from operating and investing activities(p.7)
- • Promoter litigation with 2 criminal proceedings and 2 civil litigations involving ₹340.04 Lakhs(p.8)
- • Expand financial capabilities through IPO proceeds to fund business expansion(p.2)
- • Geographic expansion across India as strategic priority(p.2)
- • Strong domestic demand driven by weddings, festivals, and rising disposable income(p.2)
- • India processes 75% of world's polished diamonds, creating export opportunity(p.2)
- • Government support through PLI schemes, 100% FDI, and export promotion measures(p.2)
- • Growing adoption of modern manufacturing technologies and contemporary jewellery designs(p.2)
- • Focus on creative designs as strategic priority for product differentiation(p.2)
- • Raw material costs comprise 99.85% of product costs with exposure to gold and diamond price volatility(p.6)
- • Absence of long-term supplier contracts increases vulnerability to cost and availability shocks(p.6)
- • Business subject to seasonal fluctuations with revenue concentration in peak seasons(p.7)
- • Regional disruption risk in Jaipur City could halt manufacturing and supply chain(p.7)
- • Global economic uncertainties and changing consumer preferences pose sector headwinds(p.2)
- • Recently availed working capital facilities may not yield anticipated benefits and expose to refinancing risk(p.7)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Nitin Gilara | Promoter | 23.55% | — |
| Prateek Gilara | Promoter | 23.55% | — |
| Vipul Gilara | Promoter | 46.53% | — |
| Krishna Vardhan Gilara | Promoter | 0.66% | — |
| Kiran Gilara | Promoter Group | 0.10% | — |
| Rachna Gilara | Promoter Group | 0.10% | — |
| Swati Gilara | Promoter Group | 0.10% | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.