Advit Jewels Summary
The business activity refers to the specialization in the manufacture of handcrafted fine jewelry specializing in Kundan, Polki, Diamond, and Studded jewelry under the brand label "Rambhajo". Advit Jewels combines traditional craftsmanship with contemporary designs, creating unique products that reflect a blend of classic and modern aspects. The product range offered by the company includes necklaces, earrings, rings, bracelets, and custom-made jewelry, which are made using 14k and 18k gold, diamonds, and gemstones. The company's operations revolve around the Business to Business model as it supplies jewelry to dealers, showrooms, and retail outlets; however, it also caters to customers in the business-to-customer category. For FY 2025, it received 81.63% of its revenues from the B2B segment while 18.37% came from the B2C segment. Every item in the jewelry range is 100% hand-made by experts who specialize in this artistry and are highly skilled and trained for generations.
As far as the processes involved in running a business are concerned, the firm carries out all of its processes using the manufacturing unit located in Jaipur (6,450 sq. ft.) and which has modern equipment such as 3D printers and casting units, making it possible for the firm to carry out all its processes on its own, from melting gold till quality checks and polishing. It is quite evident that efficiency and quality check can only be achieved if everything is done internally. For orders which require customization and are high in value, it takes about 25-30 days to fulfill these orders. The company serves all kinds of clients including dealers, showrooms, retailers as well as consumers for customized jewellery. However, there would not be any difficulty in maintaining the inflow of revenue because the firm has diversified offerings, solid operational strategies, quality checks, excellent management, pan India presence (revenue earned from various states of India include Maharashtra, Haryana, Gujarat, Delhi, Punjab, Rajasthan, West Bengal, Uttar Pradesh, and Telangana).
The BSE, NSE book-built issue by Advit Jewels Limited, wherein face value is ₹10 per share with the price band of ₹130.00–₹138.00 per share. Issue size of ₹165.16 Cr, out of which the new issue is of ₹165.16 Cr (entirely fresh issue). Issue is bifurcated between QIBs including Anchor, NII, and Retail Investors, and tentative listing of the stock will be on BSE and NSE on 1st July 2026.
Advit Jewels IPO Details:
Advit Jewels Limited Issue Management:
Holani Consultants Pvt.Ltd. acts as the book-running lead manager for Advit Jewels BSE IPO, managing underwriting and compliance.
Advit Jewels Limited IPO RTA (Registrar) Details:
Bigshare Services Pvt.Ltd. handles allotment, refunds, and demat credits - contact at +91-22-6263 8200 or ipo@bigshareonline.com.
Advit Jewels Limited IPO Allotment Status:
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Advit Jewels IPO totals ₹165.16 Cr, comprising a fresh issue of ₹165.16 Cr (entirely new issue). The face value is ₹10 per share and the price band is ₹130.00–₹138.00 per share (book-built issue on BSE and NSE).
Advit Jewels Limited IPO proceeds from the fresh issue will be deployed towards:
Advit Jewels IPO offers 1,19,68,000 equity shares (total issue ₹165.16 Cr).
The anchor bidding for Advit Jewels Limited IPO is scheduled one working day before the issue opens on 23rd June 2026 (i.e., 22nd June 2026), and anchor investors will be allotted shares from the QIB portion (within the overall QIB tranche, as per IPO structure). As per the IPO reservation details, the QIB portion (including anchor) accounts for about 49.98% of the total issue size, with anchor investors getting 29.99% of total issue (35,88,700 shares) and the remainder QIB (ex-anchor) getting 19.99% (23,92,600 shares). The NII (HNI) portion is 15.01% (with bNII > ₹10L getting 10.01% and sNII < ₹10L getting 5.00%) and the Retail portion is 35.01%.
Lock-in: The anchor allocation follows standard IPO norms, where 50% of the anchor shares are locked in for 30 days and the remaining 50% for 90 days from the listing date. The issue is scheduled to list on 1st July 2026 on BSE and NSE.
The anchor allocation details and investor list will be disclosed in the anchor book before the IPO opening. Holani Consultants Pvt.Ltd. is the Book Running Lead Manager (BRLM) to the issue, and the registrar for the IPO is Bigshare Services Pvt.Ltd.
Earnings made by Advit Jewels Ltd. come from the production and selling of exquisite jewelry such as Kundan, Polki, Diamond, and Studded jewelry under the brand Rambhajo, necklaces, earrings, rings, bracelets, custom jewelry made out of 14K and 18K gold along with diamonds and colored gemstones. The earnings of the firm come from the sale of jewelry items to dealers, showrooms, and retailers (B2B segment – 81.63% of revenue for FY25) and B2C consumers as custom jewelry (18.37% of revenue for FY25).
With regard to the performance aspect in connection with finance, the organization has been growing tremendously, as seen in the increased total income, which rose from ₹46.60 crores in FY23 to ₹69.45 crores in FY24 to ₹124.94 crores in FY25 to ₹123.80 crores as of December 2025. Further, the firm's profit after tax has risen from ₹10.39 crores in FY23 to ₹14.71 crores in FY24 to ₹25.37 crores in FY25 to ₹25.44 crores as of December 2025. With regards to EBITDA, it has risen from ₹12.77 crores in FY23 to ₹18.95 crores in FY24 to ₹37.15 crores in FY25 to ₹36.68 crores as of December 2025. It must be noted that the margins were favorable because the margins for EBITDA and PAT were 29.63% and 20.55%, respectively, as of December 2025. The ROE and ROCE of the company have been 35.89% and 24.09%, respectively, as of December 2025. With regards to the net worth of the organization, it has been rising from ₹18.08 crores in FY23 to ₹32.80 crore in FY24, to ₹58.13 crore in FY25, and ₹83.65 crore (Dec 2025).
Action Links:
To apply for Advit Jewels Limited IPO, open a demat account here
Advit Jewels Limited IPO Subscription Status: Check live subscription here
Advit Jewels Limited IPO GMP Update: Check latest grey market premium here
Advit Jewels Key Highlights:
Advit Jewels Ltd is involved in the production of high-quality jewellery, offering its range of services through custom-made designs of Kundan, Polki, Diamonds, and Studded jewellery under the brand title “Rambhajo”. Advit produces a variety of jewellery items including necklaces, earrings, rings, bangles, and bespoke jewellery in 14K and 18K gold with diamonds and gemstones. The company operates through a B2B process catering to dealers, showrooms, and retail outlets, as well as serving individual customers for bespoke custom orders. All 100% handcrafted jewellery created by master artisans of their craft.
The strengths of Advit Jewels Ltd include organized production process (under one roof at Jaipur, 6,450 sq. feet, having 3D printers and casting machines), diverse products range for all customers (necklace, earrings, rings, bangles, personalized jewelry pieces), strong internal systems and risk management approach, experienced management team with ability to execute plans, firm quality policy along with Quality Control team, and PAN India operation having income from Maharashtra, Haryana, Gujarat, Delhi, Punjab, Rajasthan, West Bengal, Uttar Pradesh, and Telangana.
There has been exemplary performance by the company on the financial front with Total Income of ₹46.60 crore in FY23, ₹69.45 crore in FY24, ₹124.94 crore in FY25, and ₹123.80 crore (Dec 2025). PAT margin has grown from ₹10.39 crore in FY23 to ₹14.71 crore in FY24 to ₹25.37 crore in FY25, and ₹25.44 crore (Dec 2025). There is an increase in EBITDA from ₹12.77 crore in FY23 to ₹18.95 crore in FY24, to ₹37.15 crore in FY25, and ₹36.68 crore (Dec 2025). The EBITDA margins have touched 29.63% and PAT margins have been 20.55% (Dec 2025). There is also extreme ROE and ROCE margins with ROE of 35.89% and ROCE of 24.09% respectively (Dec 2025). Net worth has shown a significant rise from ₹18.08 crore in FY23 to ₹32.80 crore in FY24, to ₹58.13 crore in FY25, and ₹83.65 crore (Dec 2025).
Advit Jewels Risk Factors:
The risks of Advit Jewels Limited IPO are mentioned below:
Dependence on Gem & Jewellery Business: Dependent on the orders placed by the dealers, retail showrooms, and customers. Reduction in orders for jewellery could harm the bottom line.
Market Volatility of Major Raw Materials: Dependency on the major raw materials of gold, diamonds, and coloured stones required for making jewellery. Any changes in the prices of the major raw material, i.e., gold and precious stones, can have a considerable impact on the profits.
Compliance with Regulations: Manufacturing process requires meeting the requirements of regulatory guidelines; failure to comply poses risks.
Listing of Shares and Liquidity Risks: Listing of shares on stock exchanges, such as BSE and NSE, and issue of shares worth ₹165.16 Cr and the market capitalisation is ₹632.18 Cr.
High Borrowings: The level of borrowings stands at ₹64.92 crore as of December 2025 (₹74.80 crore FY25, ₹19.70 crore FY24, and ₹5.84 crore FY23).
Dilution Risk to Promoters Shareholding: The stake of the promoters in the business post-IPO will decline by 24.71% from the existing level of 94.59% to 69.88%.
Risk Associated with Working Capital Requirements: The use of ₹65.00 Cr in the funding of additional working capital requirement suggests a significant requirement of operational capital.
Customer Concentration Risk: Dependence on B2B dealers, showrooms, and retailers (81.63% of income); delayed payment or order cancellation can affect revenues.
Presence of Competitors in the Jewellery Industry: The presence of other firms in the business of gems, jewellery, and watches may affect our market share.
Advit Jewels Expert Analysis:
Advit Jewels' IPO (BSE, NSE) is a book-built issue with a price band of ₹130.00–₹138.00 per share (face value ₹10). The total issue size is ₹165.16 Cr, comprising entirely a fresh issue of ₹165.16 Cr. The IPO is structured for QIB (49.98% including anchor with anchor getting 29.99% and QIB ex-anchor getting 19.99%), NII (15.01% with bNII > ₹10L getting 10.01% and sNII < ₹10L getting 5.00%), and Retail (35.01%) investors, with the tentative listing on BSE and NSE on 1st July 2026.
Basic details of the IPO:
Type of IPO: Book-built IPO (BSE, NSE)
Uses of funds: Working capital requirements (₹65.00 Cr), Repayment of outstanding borrowings (₹65.00 Cr), General corporate purposes (₹35.16 Cr)
Anchor bidding: 22nd June 2026 | Opens 23rd June 2026 | Closes 25th June 2026 | Allotment 29th June 2026 | Listing 1st July 2026 (BSE, NSE).
Lead Manager: Holani Consultants Pvt.Ltd. | Registrar: Bigshare Services Pvt.Ltd.
Expert View on the IPO:
This specific entity deals in creating exclusive handcrafted fine jewelry comprising of Kundan, Polki, Diamond, and Studded jewelry brands under "Rambhajo" trademark, necklaces, earrings, rings, bangles, and customized jewelry in 14K and 18K gold with diamonds and colored gems. This product line demonstrates good financial performance and has exhibited an impressive increase in profitability (PAT of ₹25.44 Cr by Dec 2025 vs ₹10.39 Cr in FY23; growth rate ~2.45X in 2 years). Furthermore, the stock exhibits a favorable PE ratio of 18.41x pre-IPO and 18.64x post-IPO valuation, as well as a P/B Valuation ratio of 7.60x. Return on Net Worth (RoNW) of this enterprise is outstanding being 43.64% (as Mar 2025). Conversely, in terms of sector rivals, such as Radhika Jeweltech Limited (PE = 11.1x and RoNW = 18.63%), RBZ Jewellers Limited (PE = 12.86x and RoNW = 15.83%), and Bluestone Jewellery and Lifestyle (-24% RoNW), Advit Jewels offers excellent financial results in terms of return on net worth (43.64% RoNW vs 18.63%, 15.83%, and -24%). Nonetheless, several problems of this corporation include high gearing of ₹64.92 Cr, substantial promoter dilution (from 94.59% to 69.88%),
Should you invest in Advit Jewels?
An investor looking for a jewellery manufacturing company listed on BSE and NSE, with exceptional growth trajectory (~2.45x PAT growth in 2 years from ₹10.39 Cr in FY23 to ₹25.44 Cr in Dec 2025), very high ROE (35.89%) and RoNW (43.64%), and exposure to India's gems and jewellery sector might find the IPO of Advit Jewels interesting provided that he can handle gold price volatility, regulatory compliance, high debt burden, and promoter dilution.
Consider investing when:
An exposure to manufacturing of fine handcrafted jewellery (Kundan, Polki, Diamond, studded items, necklaces, earrings, rings, bangles, customised jewellery) using 14K and 18K gold with diamonds and colour stones for dealer, showrooms and retail clients (B2B – 81.63% revenue) as well as B2C (18.37% revenue) with high ROE (35.89%) and RoNW (43.64%) is needed.
There are no concerns regarding any risks because of gold price fluctuation, volatility in raw materials (gold, diamonds, coloured stones), regulatory issues, high level of debts (₹64.92 Crore) and extensive promoter dilution (24.71%).
There is no doubt at all that the funds raised through IPO will be used towards the working capital requirement (₹65.00 Crore) and payment of outstanding borrowings (₹65.00 Crore).
High growth prospects are anticipated due to the increasing demand for jewellery and jewellery sales during festivals, and rapid growth of gems and jewellery industry in India.
Do not invest when:
It would be ideal to consider investing in companies from the jewellery sector, having diversified raw material hedging strategy, several production plants, and fewer liabilities.
Regarding risks, you will be afraid of gold price risk, raw material price risk (gold, diamonds, colored stones), regulation compliance risk, higher borrowing costs (₹64.92 Crore), and promoters dilution risk.
Higher promoters dilution risk (94.59% to 69.88% post-IPO), working capital requirements risk, and customer dependency risks (dealers, showrooms, retail outlets) are not good for you.
The type of business entities which would attract your attention should be those companies with low valuation levels (P/E<18), lower debt-equity ratio, or sound market positioning.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is for informative purposes and not investment advice.
Action Links:
To apply for Advit Jewels Limited IPO, open a demat account here
Advit Jewels Limited IPO Subscription Status: Check live subscription here
Advit Jewels Limited IPO GMP Update: Check latest grey market premium here
1. What is the Advit Jewels Limited IPO open and close date?
Advit Jewels IPO opens on 23rd June 2026 and closes on 25th June 2026. The tentative listing date on BSE and NSE is 1st July 2026.
Track Advit Jewels Limited IPO subscription status live here from Finnpick.
2. What is the Advit Jewels Limited IPO price band and lot size?
The IPO is a book-built issue with a price band of ₹130.00–₹138.00 per share (face value ₹10). The minimum bid for retail investors is 100 shares (1 lot), with subsequent bids in multiples thereof. Minimum investment is ₹13,800.
3. What is Advit Jewels Limited IPO total size?
The total issue size is ₹165.16 Cr, comprising entirely a fresh issue of ₹165.16 Cr. The total shares offered are 1,19,68,000 (59,81,300 to QIB including 35,88,700 anchor, 17,96,700 to NII, 41,90,000 to Retail).
4. How to apply for the Advit Jewels Limited IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or apply ASBA by June 25, 4 PM. Monitor Advit Jewels Limited IPO subscription tracker here. Ensure your demat account is active and UPI mandate is approved before the closing time.
5. How to check Advit Jewels Limited IPO Allotment Status?
The allotment date is on June 29th and can be checked on Bigshare Services Pvt.Ltd. RTA portal using PAN/DP ID.
6. What is Advit Jewels Limited IPO GMP today and subscription status?
Current Grey Market Premium (GMP) stands at ₹86 as of June 15, indicating listing at the price range of ₹224 - check daily updates of Advit Jewels Limited IPO GMP trends here and live subscription status here from June 23rd opening only on Finnpick.
7. What does Advit Jewels Limited specialize in?
Advit Jewels is engaged in manufacturing handcrafted fine jewellery, specializing in Kundan, Polki, Diamond, and Studded pieces under the brand name "Rambhajo". Products include necklaces, earrings, rings, bangles, and customized jewellery, crafted in 14K and 18K gold with diamonds and coloured stones. The company primarily works on a B2B model (81.63% of revenue in FY25) supplying dealers, showrooms, and retailers, but also serves B2C customers (18.37% of revenue) for exclusive made-to-order jewellery. The manufacturing unit is in Jaipur (6,450 sq. ft.) with 3D printers and casting units, ensuring 100% handmade jewellery by skilled artisans. The company has PAN India presence with revenue from Maharashtra, Haryana, Gujarat, Delhi, Punjab, Rajasthan, West Bengal, Uttar Pradesh, and Telangana.
8. When is the Advit Jewels Limited IPO listing date?
The IPO is scheduled to list on BSE and NSE on 1st July 2026, subject to final confirmation from the exchanges. Basis of allotment is tentatively on 29th June 2026, with refunds and demat credits around 30th June 2026.
9. What are the Advit Jewels Limited IPO proceeds utilization details?
The IPO proceeds will primarily be utilized towards: Funding incremental working capital requirements: ₹65.00 Cr, Repayment/pre-payment of outstanding borrowings: ₹65.00 Cr, General corporate purposes: ₹35.16 Cr
10. Who are the promoters of Advit Jewels Limited?
The promoters of Advit Jewels Limited are Mr. Nitin Gilara, Mr. Prateek Gilara, Mr. Vipul Gilara, and Mr. Krishna Vardhan Gilara. Pre-IPO promoter holding is 94.59%, which will dilute to 69.88% post-IPO (24.71% dilution).
11. Should I apply for the Advit Jewels IPO?
You may consider applying if you are comfortable with a jewellery manufacturing business (handcrafted fine jewellery, Kundan, Polki, Diamond, Studded pieces, necklaces, earrings, rings, bangles, customized jewellery in 14K/18K gold) with exceptional growth trajectory (~2.45x PAT growth from ₹10.39 Cr in FY23 to ₹25.44 Cr in Dec 2025), very high ROE (35.89%) and RoNW (43.64%), and exposure to India's gems and jewellery sector. Avoid if you are risk-averse to gold price volatility, raw material price fluctuations (gold, diamonds, coloured stones), regulatory compliance risks, high borrowings (₹64.92 Crore), significant promoter dilution (24.71%), and working capital requirements risk (₹65.00 Crore). This is for informational purposes only and not investment advice; read the RHP/DRHP and consult a SEBI-registered advisor before investing.
