Advit Jewels IPO Day 3: Issue subscribed 44.16x so far. GMP hints 38% listing pop. Should you apply or not?
Awaiting price reaction for this filing.
Advit Jewels IPO was subscribed 44.16 times on day 2 of bidding, with the retail portion booked 35.46x, NIIs at 121.16x and QIBs at 1.56x. Grey market premium of around 52 indicates an estimated listing price of about 190 per share, a 37.68% premium over the issue price of 138. The company, which operates the Rambhajo brand in handcrafted Kundan, Polki and diamond jewellery, reported revenue of 1,238 crore and net profit of 254.4 crore for the nine months ended December 2025. Brokerages including Canara Bank Securities, Swastika Investmart and HDFC Securities have recommended subscribing, citing strong margins, a 43.6% RoNW and growth potential. Shares are tentatively scheduled to list on 1 July 2026.