Advit Jewels Lists at ₹187, Up 29.71%

Advit Jewels Ltd, incorporated in 2019 as a Jaipur-based jewellery company specializing in handcrafted fine jewellery with expertise in Kundan, Polki, Diamond and Studded pieces under brand name "Rambhajo" blending traditional techniques with modern designs offering 100% handmade products including necklaces, earrings, rings, bangles, and customized jewellery crafted in 14K and 18K gold with diamonds and coloured stones, made a strong debut on BSE and NSE on Wednesday, July 1, 2026. The Advit Jewels share price opened at ₹187.00 representing premium of 35.51% from issue price of ₹138.00, touched high of ₹190.00 before settling at ₹179.00 (up 29.71%).

Advit Jewels Listing Details

Advit Jewels launched its mainboard IPO at ₹130-138 per share with minimum investment of 100 shares costing ₹13,800 raising ₹165.16 crore as entirely fresh issue including ₹49.52 crore from anchor investors. The IPO received exceptional response with subscription of 212.63 times - NII exceptionally strong at 536.38 times, QIB at 174.98 times, retail at 95.30 times.

First-Day Trading Performance

Listing Price: Advit Jewels stock price opened at ₹187.00 representing premium of 35.51% from issue price, touched high of ₹190.00 (up 37.68%) before profit booking pushed stock to ₹179.00 (still up 29.71%), with VWAP at ₹183.21. The strong listing delivered substantial gains for IPO investors with turnover of ₹11.85 crore, traded volume of 6.47 lakh shares, delivery of 100%, and market capitalisation of ₹822.29 crore against pre-IPO market cap of ₹632.18 crore.

Growth Drivers and Challenges

Growth Drivers:

Strong Revenue Growth: Revenue growing from ₹46.60 crore in FY23 to ₹124.94 crore in FY25 (168% growth over 2 years), PAT expanding from ₹10.39 crore to ₹25.37 crore.

High Margin Business: EBITDA margin of 29.63% and PAT margin of 20.55% with ROE of 35.89% and ROCE of 24.09% demonstrating premium positioning in Kundan, Polki, and Diamond jewellery segment.

Challenges:

High Leverage: Debt/equity of 1.29 with total borrowings of ₹64.92 crore; IPO proceeds of ₹65 crore allocated towards debt repayment to strengthen balance sheet.

B2B Concentration: 81.63% revenue from B2B segment dependent on dealers, showrooms, and retailers; any slowdown in discretionary spending could impact demand.

Working Capital Intensive: Jewellery business requires significant inventory holding; ₹65 crore from IPO proceeds earmarked for incremental working capital requirements.

Utilisation of IPO Proceeds

Working Capital: ₹65.00 crore for funding incremental working capital requirements.

Debt Repayment: ₹65.00 crore for repayment/prepayment of outstanding borrowings from scheduled commercial banks.

General Corporate Purposes: Residual amounts.

Financial Performance

Revenue: ₹123.80 crore for 9 months end

ed December 2025 (99% of full FY25), ₹124.94 crore for FY25, growth from ₹69.45 crore in FY24 and ₹46.60 crore in FY23.

Net Profit: ₹25.44 crore for 9 months FY26 (100% of full FY25), ₹25.37 crore in FY25, growth from ₹14.71 crore in FY24 and ₹10.39 crore in FY23, with post-IPO EPS of ₹7.41 and P/E of 18.64x. Investors tracking Advit Jewels share price should note exceptional 213x subscription with 32.04 lakh applications, strong NII participation at 536x reflecting robust demand for handcrafted jewellery company, 30% listing gains despite intraday profit booking, and debt repayment focus from IPO proceeds to strengthen balance sheet.