IPO
Handcrafted jewellery maker Advit to raise Rs.165-Cr via IPO
Jaipur-based Advit Jewels plans to raise Rs.165-Cr through a fresh issue of shares in an initial public offering (IPO), which is scheduled to open for subscription from June 23 to June 25. The company has set a price band of INR 130-138 per equity share.Founded as a jewellery manufacturer, the firm specializes in handcrafted Kundan, Polki, diamond, and studded jewellery, catering primarily to the ultra-premium wedding market. The company intends to use Rs.65-Cr from the IPO proceeds for debt repayment. The rest of the funds will be used for the expansion of its business-to-consumer (B2C) operations.The company plans to set up 30 retail stores under the Rambhajo brand through a franchisee model across metropolitan centers and tier-II cities over the next three years. For the nine months ended December 2025, the firm reported revenue from operations of Rs.123.79 Cr and a net profit of Rs.25.44 Cr.
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