The company has fixed the price band at Rs 130-138 per share, with investors required to bid for a minimum lot of 100 shares and in multiples thereof
Jaipur: Advit Jewels Limited is all set to launch of its initial public offering (IPO), marking a key milestone in the company’s growth journey. The public issue will open for subscription on June 23, 2026, and close on June 25, 2026.
The book-built issue is valued at Rs 165.16 crore and comprises a fresh issue of up to 1,19,68,000 equity shares. The company has fixed the price band at Rs 130-138 per share, with investors required to bid for a minimum lot of 100 shares and in multiples thereof.
Advit Jewels had filed its draft red herring prospectus (DRHP) in September 2025 and plans to list its shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The company has received in-principle approvals from both exchanges for the proposed listing. Advit Jewels is promoted by Nitin Gilara, Prateek Gilara, Vipul Gilara and Krishna Vardhan Gilara.
According to the company, the net proceeds from the issue will be utilized towards meeting incremental working capital requirements, reducing debt obligations and supporting general corporate purposes. Of the total amount proposed to be raised, Rs 65 crore has been earmarked for working capital requirements and another Rs 65 crore for repayment or pre-payment of certain outstanding borrowings.
Prior to the IPO, the company completed a pre-IPO placement of 18.32 lakh equity shares at Rs 125 per share, raising Rs 22.90 crore. Following the placement, the size of the public issue was reduced from 1.38 crore equity shares to 1.20 crore equity shares.
The company’s portfolio includes necklaces, earrings, rings, bangles and customized jewellery crafted in 14kt and 18kt gold, featuring diamonds and coloured gemstones. It primarily serves dealers, showrooms and jewellery retailers across India, while also undertaking made-to-order projects for individual customers. The company focuses on developing original designs that blend traditional craftsmanship with contemporary aesthetics.
Advit Jewels operates a manufacturing facility in Jaipur equipped with modern production infrastructure, including 3D printers, casting units and polishing machines. Key manufacturing processes, including melting, stone setting, polishing and quality inspection, are carried out in-house.
The company has reported strong financial growth over the past three fiscal years. Revenue increased from Rs 46.60 crore in FY2023 to Rs 69.44 crore in FY2024 and further to Rs 124.94 crore in FY2025. Net profit rose from Rs 10.39 crore in FY2023 to Rs 14.71 crore in FY2024 before reaching Rs 25.37 crore in FY2025.
Holani Consultants Private Limited is acting as the book-running lead manager to the issue, while Bigshare Services Private Limited has been appointed registrar. The basis of allotment is expected to be finalised on June 29, 2026, with the company’s shares tentatively scheduled to list on July 1, 2026.
Headquartered in Jaipur, Advit Jewels is engaged in the design, manufacture and sale of handcrafted fine jewellery. While the company was incorporated in 2019, it was established to carry forward the legacy of the Rambhajo brand, whose origins date back to a jewellery business founded in Jaipur in 1921. Over the decades, Rambhajo has built a reputation for handcrafted Kundan, Polki, Meena and Jadau jewellery, supported by generations of artisans and customers.
As it enters the public markets, Advit Jewels aims to build on this heritage. The company stated that the IPO represents the next phase of its growth journey and reflects the confidence placed in the business by its customers, partners and stakeholders as it seeks to expand its presence in the Indian jewellery market.
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