Advit Jewels IPO opens June 23: Check issue details, objectives and key dates

Jaipur-based jewellery company Advit Jewels' initial public offering will open for subscription on June 23. The issue will conclude on June 25. The price band has not been announced yet.

The initial share sale is exclusively a fresh issuance of 1,19,68,000 shares, with no offer for sale (OFS) component, according to the red herring prospectus (RHP).

The net issue proceeds will be used for funding incremental working capital requirements, repayment of certain outstanding borrowings availed by the company from scheduled commercial banks and general corporate purposes.

Holani Consultants Pvt Ltd is the issue's book-running lead manager, while Bigshare Services is the registrar.

The company's shares will be listed on the National Stock Exchange (NSE) and the BSE.

Half of the net issue will be set aside for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors.

Advit Jewels IPO: Key dates

• Subscription period: June 23 to June 25
• Allotment: June 29
• Credit of Shares: June 30
• Refund: June 30
• Listing: July 1

Advit Jewels makes and sells traditional and contemporary handcrafted fine jewellery, specialising in polki, kundan, diamond and studded pieces. The company, which operated under the brand name 'Rambhajo', crafts jewellery using handmade techniques, but it also incorporates modern design elements, ensuring that each item is not just beautiful but also reflects a rich cultural heritage.

Its offerings include earrings, rings, necklaces, bangles and customised jewellery pieces. It largely operates on a business-to-business model, serving showrooms, dealers and jewellery retailers.

"Our jewellery is a 100% handmade jewellery. Our artisans are also trained since generations to create jewellery that we manufacture. Our forte of blending artwork is only possible due to these skilful artisans who know how to amalgamate different art forms following our aesthetical designs. These artisans, well-trained in traditional and modern techniques, form the backbone of our production," the RHP said.

Despite the hike in the gold prices in 2025, the company has managed to boost its revenue in quantitative terms by achieving an overall volume growth of 38.92% in the financial year 2024-25 compared with FY23.