The ā¹165.16 crore Advit Jewels IPO has attracted significant investor attention due to its strong financial growth, established heritage brand "Rambhajo," healthy profitability, and robust Grey Market Premium (GMP). With the issue opening on June 23, 2026, investors are closely tracking whether the IPO can deliver substantial listing gains.
Advit Jewels IPO GMP and Potential Listing
The grey market premium (GMP) of Advit Jewels IPO stood at approximately ā¹64 on June 23, according to market sources. Based on the upper price band of ā¹138 per share, the estimated listing price works out to around ā¹202, indicating a potential premium of 46.38%.
While a strong GMP reflects positive market sentiment towards the issue, investors should note that grey market trading is unofficial and unregulated. GMP should be considered only as one of several factors while evaluating an IPO.
Know more about Advit Jewels IPO
Advit Jewels Reports Strong Financial Growth
Advit Jewels has demonstrated significant growth in revenue, profitability, and net worth over the last three financial years.
Advit Jewels IPO Financial Performance (ā¹ Crore)
|
Particulars |
Dec 2025 |
FY25 |
FY24 |
FY23 |
|
Assets |
164.20 |
140.85 |
67.21 |
29.01 |
|
Revenue |
123.80 |
124.94 |
69.45 |
46.60 |
|
EBITDA |
36.68 |
37.15 |
18.95 |
12.77 |
|
Profit After Tax |
25.44 |
25.37 |
14.71 |
10.39 |
|
Net Worth |
83.65 |
58.13 |
32.80 |
18.08 |
The company's revenue increased by nearly 80% from ā¹69.45 crore in FY24 to ā¹124.94 crore in FY25. During the same period, profit after tax grew from ā¹14.71 crore to ā¹25.37 crore, highlighting the company's ability to scale operations while maintaining profitability.
The asset base also expanded substantially, rising from ā¹29.01 crore in FY23 to ā¹140.85 crore in FY25, reflecting business growth and increased operational capacity.
Advit Jewels KPIs
Advit Jewels has maintained strong margins and return ratios, indicating efficient utilization of capital and healthy operational performance.
Key Performance Indicators
|
KPI |
Dec 2025 |
FY25 |
|
ROE |
35.89% |
55.79% |
|
ROCE |
24.09% |
27.48% |
|
RoNW |
30.41% |
43.64% |
|
PAT Margin |
20.55% |
20.30% |
|
EBITDA Margin |
29.63% |
29.73% |
The company reported an EBITDA margin of nearly 30% and a PAT margin above 20%, reflecting strong profitability compared to many businesses in the jewellery manufacturing segment.
Advit Jewels IPO Valuation at the Upper Price Band
At the upper price band of ā¹138 per share, Advit Jewels is valued at a post-issue market capitalization of approximately ā¹632.18 crore.
Valuation Metrics
|
Particulars |
Value |
|
EPS (Pre-IPO) |
ā¹7.50 |
|
EPS (Post-IPO) |
ā¹7.41 |
|
P/E Ratio |
18.64x |
|
Price to Book Value |
7.60x |
|
Market Capitalization |
ā¹632.18 Crore |
The IPO is priced at a post-issue P/E multiple of 18.64x, while the company's strong earnings growth and profitability metrics may be considered by investors while assessing the valuation.
Advit Jewels IPO Objects of the Issue
The IPO consists entirely of a fresh issue, with no offer-for-sale component. The company intends to utilise the proceeds for strengthening its business operations and financial position.
Objects of the Issue
- Funding incremental working capital requirements.
- Repayment or prepayment of certain outstanding borrowings.
- General corporate purposes.
The proposed debt repayment is expected to reduce finance costs, while additional working capital may support future business growth.
Advit Jewels IPO Anchor Investors
Ahead of the public issue, Advit Jewels raised ā¹49.52 crore through its anchor book.
The company allotted 35.88 lakh shares to anchor investors at ā¹138 per share.
Notable anchor investors include:
- Holani Venture Capital Fund-I
- Mint Focused Growth Fund PCC – Cell 1
- Taurus Mutual Fund
- Venus Investment VCC – Venus Stellar Fund
The participation of institutional investors in the anchor round reflects interest from professional investors before the IPO opening.
Advit Jewels Promoters
Advit Jewels's promoters:
- Nitin Gilara
- Prateek Gilara
- Vipul Gilara
- Krishna Vardhan Gilara
Following the issue, promoter shareholding is expected to reduce from 94.59% to 69.88%, while the promoters will continue to retain majority ownership and management control.
