Advit Jewels IPO Day 2: GMP signals 41% listing gains; should you subscribe?

Advit Jewels IPO received a strong response on Day 1, with the issue subscribed 11.18 times overall. The Rs 165.16 crore fresh issue, with a price band of Rs 130-138 per share, saw retail and NII segments lead the demand at 11.55x and 23.73x subscription respectively, while QIBs subscribed a modest 1.11x. Grey market premium of around 41% signals an estimated listing price of about Rs 194 against the upper band of Rs 138.