Advit Jewels IPO: Issue received solid response on Day 01, booked 11.3 times; GMP signals bumper listing

Advit Jewels IPO received a solid response on Day 1, getting subscribed 11.28 times with bids for 9.45 crore shares against 83.79 lakh shares on offer. The retail portion was subscribed 27 times while NII segment attracted 24 times subscription, and the QIB portion was fully subscribed. The 165.16-crore IPO, entirely a fresh issue, has a grey market premium of around 64 per share, indicating an estimated listing price of about 202 per share, a nearly 47 percent premium over the upper price band of 138.