Advit Jewels IPO GMP Day 2: Grey Market Premium at ₹64, Expected Listing at ₹202 (46% Gain)

The Advit Jewels IPO GMP on Day 2 of the subscription period stands at ₹64 per share, one of the strongest grey market premiums among current IPOs. At a GMP of ₹64 on the upper price band of ₹138, the Advit Jewels IPO GMP implies an expected listing price of approximately ₹202 per share — representing a potential gain of around 46% over the issue price. This is reinforced by strong Day 1 subscription momentum: the issue was subscribed 1.43 times as of Day 1 morning, with retail demand outpacing supply early. The Advit Jewels IPO is a mainboard issue on BSE and NSE raising ₹165.16 crore entirely through a fresh issue at a price band of ₹130 to ₹138 per share, with a minimum retail lot of 100 shares at ₹13,800.

Advit Jewels Limited, incorporated in 2019 and based in Jaipur, Rajasthan, manufactures and retails handcrafted fine jewellery under the “Rambhajo” brand, specialising in Kundan, Polki, Diamond, and Studded jewellery in 14K and 18K gold. The company operates through a B2B model (81.63% of FY25 revenue) supplying dealers, showrooms, and retailers, while also serving B2C customers for custom-made pieces. The company raised ₹49.52 crore from anchor investors including Taurus Mutual Fund and Holani Venture Capital Fund ahead of the subscription. Kunal Singla, Associate Director at Univest notes that the strong Advit Jewels IPO GMP is supported by the company’s 80% revenue growth from FY24 to FY25, strong institutional interest at the anchor stage, and the favourable tailwinds in India’s premium handcrafted jewellery market.

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Advit Jewels IPO GMP: Complete Snapshot

Parameter	Details
Issue Type	Book Built Issue — Mainboard (BSE + NSE)
Price Band	₹130 to ₹138 per share
Lot Size	100 shares (min retail: 1 lot = 100 shares)
Minimum Investment	₹13,800 (at upper price band)
Issue Size	₹165.16 Crore (100% fresh issue, no OFS)
GMP Today	₹64 (46.4% premium over upper band)
Expected Listing Price	~₹202 per share
Expected Listing Gain	~46%
Day 1 Subscription	1.43x (as of Day 1 morning)
Exchange	BSE + NSE (Mainboard)
Registrar	Bigshare Services Pvt. Ltd.
Lead Manager	Holani Consultants Pvt. Ltd.

Why is Advit Jewels IPO GMP So Strong?

The Advit Jewels IPO GMP of ₹64 is among the highest for recent mainboard issues and reflects several converging factors. First, institutional anchor backing from mutual funds provides credibility. Second, the company’s revenue nearly doubled from ₹69.45 crore in FY24 to ₹124.94 crore in FY25, while PAT rose from ₹14.71 crore to ₹25.37 crore — a compelling growth narrative. Third, the Rambhajo brand operates in the premium handcrafted jewellery segment, which benefits from India’s rising aspirational spending and festive demand cycles. Fourth, the IPO is 100% fresh issue with no OFS, meaning proceeds go entirely to the company rather than to selling shareholders. Finally, the minimum investment of just ₹13,800 for one lot lowers the entry barrier for retail investors, widening the potential demand base. However, investors should note the Advit Jewels IPO GMP is unofficial and unregulated, and actual listing may differ significantly.

About Advit Jewels Limited

Advit Jewels Limited manufactures handcrafted jewellery including necklaces, earrings, rings, and bangles in 14K and 18K gold with diamonds and coloured stones under the “Rambhajo” brand. Its manufacturing facility in Jaipur (6,450 sq. ft.) is equipped with 3D printers, casting machines, CAD design systems, and a quality control team. The company primarily caters to dealers, showrooms, and retailers across Maharashtra, Haryana, Gujarat, Delhi, Punjab, Rajasthan, West Bengal, Uttar Pradesh, and Telangana. It had 111 employees as of April 2026 and offers over 2,000 jewellery designs.

Advit Jewels IPO: Key Financials

Revenue grew from ₹69.45 crore (FY24) to ₹124.94 crore (FY25), an increase of approximately 80%. PAT grew from ₹14.71 crore to ₹25.37 crore. EBITDA improved from ₹18.95 crore to ₹37.15 crore. For the nine months ended December 2025, the company reported revenue of ₹123.80 crore, PAT of ₹25.44 crore, and EBITDA of ₹36.68 crore — already near-matching full-year FY25 figures in just three quarters, suggesting continued strong growth momentum.

Should You Apply for Advit Jewels IPO?

Track Advit Jewels IPO GMP and Live Subscription on Univest Screener

With an Advit Jewels IPO GMP of ₹64 implying 46% listing gains and a Day 1 subscription of 1.43x, investor sentiment is clearly positive. The jewellery sector in India has strong structural tailwinds, and Rambhajo’s handcrafted positioning in the premium Kundan-Polki segment differentiates it from commodity gold jewellery players. However, risks include gold price volatility directly impacting input costs, seasonal demand concentration, geographic concentration of manufacturing in Jaipur, and the fact that the issue is priced at relatively full valuations given peers. Allotment will depend on final oversubscription ratios. Consult a SEBI-registered financial advisor before making an investment decision based on the Advit Jewels IPO GMP.

Conclusion

The Advit Jewels IPO GMP on Day 2 stands at ₹64, implying an expected listing of ₹202 — a 46% potential gain over the issue price. With strong Day 1 subscription at 1.43x, institutional anchor backing, and 80% revenue growth in FY25, the Advit Jewels IPO GMP reflects robust investor interest. Track the live Advit Jewels IPO GMP and subscription data on Univest. Consult a SEBI-registered financial advisor before investing.

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Frequently Asked Questions

What is the Advit Jewels IPO GMP today?

Ans. The Advit Jewels IPO GMP on Day 2 is ₹64 per share, implying an expected listing price of approximately ₹202 (₹138 upper band + ₹64 GMP). This represents a potential listing gain of around 46% over the issue price of ₹138. The Advit Jewels IPO GMP is one of the strongest for mainboard issues in the current IPO batch.

What is the Advit Jewels IPO price band?

Ans. The Advit Jewels IPO price band is ₹130 to ₹138 per share. The lot size is 100 shares with a minimum investment of ₹13,800 for retail investors. The maximum retail application is 14 lots (1,400 shares) at ₹1,93,200. The Advit Jewels IPO GMP reflects the current grey market sentiment for this issue.

What does Advit Jewels do?

Ans. Advit Jewels Limited is a Jaipur-based jewellery manufacturer under the Rambhajo brand, specialising in handcrafted Kundan, Polki, Diamond, and Studded jewellery in 14K and 18K gold. Products include necklaces, earrings, rings, bangles, and custom pieces. It operates a B2B model (81.63% revenue) supplying dealers and showrooms, while also serving B2C customers for exclusive made-to-order jewellery.

What was Advit Jewels IPO Day 1 subscription?

Ans. The Advit Jewels IPO was subscribed 1.43 times as of 10:30 AM on Day 1 of the subscription period, indicating strong opening demand. The retail category was particularly active given the low minimum investment of ₹13,800 per lot. Final subscription ratios will be known after the subscription period closes.

What are Advit Jewels IPO financials?

Ans. Revenue grew from ₹69.45 crore in FY24 to ₹124.94 crore in FY25 (approximately 80% growth). PAT grew from ₹14.71 crore to ₹25.37 crore. For 9M FY26 (April-December 2025), revenue was ₹123.80 crore and PAT was ₹25.44 crore — already near FY25 full-year levels in three quarters. EBITDA was ₹36.68 crore for 9M FY26.

Is Advit Jewels IPO a good investment?

Ans. The Advit Jewels IPO GMP of ₹64 (46% implied gain) and strong anchor backing suggest positive listing expectations. The company’s 80% revenue growth, strong EBITDA improvement, and premium handcrafted jewellery positioning are compelling. However, risks include gold price volatility, concentrated manufacturing in Jaipur, seasonal demand, and relatively high valuation. Consult a SEBI-registered financial advisor before investing.

What is the Advit Jewels IPO issue size?

Ans. The Advit Jewels IPO issue size is ₹165.16 crore, comprising 1,19,68,000 equity shares at ₹138 (upper band). It is 100% a fresh issue with no offer-for-sale component, meaning all proceeds go to Advit Jewels for working capital, debt repayment, and general corporate purposes.

When is Advit Jewels IPO allotment?

Ans. Advit Jewels IPO allotment is expected to be finalised within a few business days after the subscription window closes. Shares will be credited to allottees’ demat accounts, with refunds for unsuccessful applicants processed around the same time. Check allotment status on the Bigshare Services website using your PAN or application number.