Overview
- The company launched a fresh issue of about Rs 165.16 crore with a price band of Rs 130–138 and raised Rs 49.52 crore from anchor investors at Rs 138 before the public offer.
- The IPO closed Thursday after three days of bidding with reported oversubscriptions ranging into the double and triple digits, with some exchange data and outlets reporting final multiples up to about 212 times.
- Unlisted shares traded at a grey‑market premium of roughly 40–47% during the offer period, signaling market expectations of a significant first‑day listing gain on the tentative July 1 listing date.
- Advit said it will use about Rs 65 crore of IPO proceeds to repay borrowings and about Rs 65 crore for working capital, a move brokers say could strengthen the balance sheet but not remove operational risks.
- Analysts note the company’s fast revenue and profit growth and its niche in handcrafted bridal jewellery, but they warn of risks from gold and diamond price swings, heavy Jaipur concentration, inventory and supplier exposure, and seasonal demand.