Advit Jewels share price tanks 5% after strong 37% market debut. Should you buy, sell or hold?

Advit Jewels listed at a 37% premium over its IPO price on NSE and BSE, but the share price declined about 5% on the listing day after the strong debut. The IPO was subscribed 212.63 times, with NII quota at 536.38 times and QIB portion at 174.98 times. Analysts recommend existing IPO investors to hold for short-to-mid term, while flagging risks including dependence on gold and diamond prices and limited geographic diversification.