Advit Jewels IPO Day 2: GMP Indicates 41% Listing Gains—Is It a Buy?

Advit Jewels, a Jaipur-based handcrafted jewellery brand, has entered the second day of its IPO bidding, which has garnered significant market excitement. The initial public offering (IPO) consists entirely of a fresh issue amounting to ₹165.16 crore, with 1.20 crore equity shares available for subscription. Investors have shown strong interest, with the IPO being subscribed 11.18 times overall, particularly notable in the retail segment, which was subscribed 11.55 times. The price band for the IPO has been set between ₹130 and ₹138 per share, and subscriptions will remain open until June 25, 2026, with the listing set to occur on July 1, 2026, subject to regulatory approvals.

The grey market sentiment surrounding Advit Jewels’ IPO is highly positive, reflecting a grey market premium (GMP) of approximately 41%. Based on the upper price band of ₹138, this translates to an expected listing price of around ₹194, indicating strong expectations among market participants. While this premium suggests optimism for listing-day performance, it is important for investors to remember that GMP is an unofficial market indicator and should not be seen as a guaranteed predictor of future performance.

For Indian investors, Advit Jewels’ strong subscription numbers and positive grey market sentiment could present an attractive investment opportunity. Analysts from SBI Securities and Equivision have both recommended a “Subscribe” rating, citing the company’s robust growth trajectory, improving profitability, and superior operating margins compared to peers. However, potential investors should also weigh the risks, including dependence on gold and gemstone price volatility, as well as customer concentration issues. Overall, the IPO not only showcases a premium handcrafted jewellery brand but also signals a continuing trend of strong demand in the Indian IPO market.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)