Advit Jewels IPO subscribed 14x on Day 2; Rambhajo to add 30 franchise stores
Jaipur-based Advit Jewels' Rs 165.16 crore IPO drew 14.09x bids by Day 2 with GMP at Rs 56 over the Rs 130-138 band. Anchor book raised Rs 49.52 crore. Proceeds fund Rs 65 crore debt repayment and B2C build-out of Rambhajo-branded Kundan/Polki outlets—30 franchise stores planned across metros and tier-II cities.
Jaipur-based jewellery maker Advit Jewels' Rs 165 crore IPO subscribed 14x on Day 2. Proceeds will repay Rs 65 crore debt and fund B2C expansion of Rambhajo-branded Kundan/Polki stores—30 franchise outlets planned across metros and tier-II cities.
Why this matters
Day 2 subscription tracks prior reads of 16.66x and 20.49x as retail demand stays strong; follows Day 1 close at 11.3x with retail at 27x. GMP holds in the 40-47% listing-pop range.
Retail-company signals steady at 3,610 over the last 90 days.