Advit Jewels makes stellar debut; shares list at ₹188.90, a premium of 36.88% from IPO price

Advit Jewels made a strong market debut on July 1, listing at Rs 188.90 on NSE, a premium of 36.88% over the issue price of Rs 138, and at Rs 187 on BSE, up 35.51%. The IPO was subscribed 212.63 times overall, led by the NII segment at 536.38 times, followed by QIBs at 174.98 times and retail at 95.30 times. The Rs 138-crore fresh issue (1.20 crore shares, no OFS) proceeds are earmarked for working capital (Rs 65 crore), debt repayment (Rs 65 crore) and general corporate purposes.