Advit Jewels Debuts 37% Above IPO Price After 212x Subscription
Jaipur jeweller Advit Jewels opened at Rs 188.90 on NSE versus its Rs 138 issue price after a 212.63x oversubscribed IPO. It plans to turn debt-free via Rs 65 crore repayment and open 30 franchisee Rambhajo stores across metros and tier-II cities over three years.
Jaipur-based jeweller Advit Jewels debuted 37% above its Rs 138 issue price after 212x subscription. It plans to go debt-free and open 30 franchisee Rambhajo-branded stores across metros and tier-II cities over three years.
Why this matters
Advit Jewels' strong debut confirms the earlier reports of a 37% listing premium at Rs 188.90 over the Rs 138 IPO after a 212x-subscribed issue, contrasting Cordelia Cruise's 16% discount debut.
Retail-company signals are accelerating, up 464400% QoQ.