Advit Jewels IPO: Issue booked 213 times on Day 03; NII, QIB portions see huge demand, GMP signals 38% premium

Advit Jewels IPO was oversubscribed 213 times on the final day of bidding, with the NII portion booked 536 times and the QIB segment at 175 times, while retail subscription reached 95.3 times. The 165.16-crore fresh issue, priced at 130-138 per share, saw a grey market premium of 52 per share, indicating an estimated listing premium of around 38%. The Jaipur-based jewellery maker plans to deploy 65 crore each towards working capital and repayment of outstanding borrowings, with the remainder for general corporate purposes.