IPO
Advit Jewels’ Rs.165-Cr IPO booked 212.6 times
Jaipur-based Advit Jewels ’ initial public offering (IPO) was subscribed 212.63 times on the third and final day of bidding on Thursday. The INR 165.16 crore IPO received bids for over 178 crore shares against 83.79 lakh shares on offer.The non-institutional investors' category was subscribed 536.38 times, while the retail investors' portion was booked 95.30 times. The Qualified Institutional Buyers (QIBs) segment received 174.98 times subscription. The company had earlier raised INR 49.52 crore from anchor investors.Proceeds from the issue will be used for repayment of borrowings amounting to INR 65 crore and for funding working capital requirements of INR 65 crore.Advit Jewels is engaged in the manufacture and sale of traditional and contemporary handcrafted fine jewellery. The company sells its products under the 'Rambhajo' brand and specialises in customised Kundan, Polki, diamond and studded jewellery.
For FY25, Advit Jewels had reported about INR 125 Cr in Operating Income and about INR 25 Cr in PAT.
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