Advit Jewels IPO closes 53.87x subscribed; Rs 52 GMP signals 38% listing pop
Jaipur-based jewellery maker Advit Jewels wraps its Rs 165.16 crore IPO at 53.87x subscription with grey-market premium of Rs 52 over the Rs 130-138 band, implying ~37.68% listing gain. Proceeds fund Rs 65 crore debt repayment and a 30-store Rambhajo B2C rollout across metros and tier-II cities over three years.
Jaipur-based jewellery manufacturer Advit Jewels closes its Rs 165 crore IPO with 53.87x subscription and Rs 52 GMP. Proceeds fund debt repayment and B2C expansion via 30 Rambhajo franchisee stores across metros and tier-II cities over three years.