Advit Jewels IPO Soars to 2.68x Subscription on Day 1, Driven by Strong Non-Institutional Interest
The Advit Jewels IPO has debuted on June 23, 2026, with an overall subscription of 2.68 times reported by 11:20 AM on the first day of bidding. Significant participation was noted from non-institutional investors (NII), who subscribed 5.05 times, and retail investors, who contributed 3.2 times. In contrast, the qualified institutional buyer (QIB) segment remains sparsely filled, a common trend during early stages of an IPO. The Jaipur-based jewellery maker aims to raise ₹165.16 crore through this fresh issue, with the price band set between ₹130 and ₹138 per share. The IPO will remain open until June 25, 2026, with allotment scheduled for June 29, 2026, and listing expected on July 1, 2026, on both the BSE and NSE.
The demand dynamic indicates a strong interest from retail and non-institutional segments even as institutional backing is yet to materialize. The total bids of approximately ₹310.30 crore were made for a net offer of 83,79,300 shares (post-anchor allocation). Within the NII category, small NII investors showed particularly robust interest, with a subscription rate of 8.03 times. With the institutional segment traditionally participating later in the bidding process, it is crucial to monitor the evolving trends as the IPO progresses towards its closing date.
In the grey market, Advit Jewels is trading at a premium of around ₹64, indicating a 46% uptick over the upper price band. Brokerages such as SMIFS and Marwadi Financial Services have advised investors to “Subscribe,” citing the company’s strong manufacturing capabilities and extensive design catalogue as positive indicators. The financials reflect a significant growth trajectory, with the company reporting a revenue increase from ₹69.45 crore in FY24 to ₹124.94 crore in FY25, along with a profit after tax hike from ₹14.71 crore to ₹25.37 crore. This growing recognition may position Advit Jewels favorably within the premium handcrafted jewellery market, making it a noteworthy consideration for investors in India’s IPO landscape.
Source: The Economic Times
(Expert Note: This report was prepared by the Wealthova IPO team.)