Advit Jewels IPO subscribed 2.85x on day one as Jaipur jeweller eyes 30-store B2C push
The Rs 165 crore issue (price band Rs 130-138) drew 2.85x bids on day one with GMP at Rs 64, signalling a healthy retail-investor appetite. Proceeds fund Rs 65 crore debt repayment and franchise-led expansion of the Rambhajo brand to 30 stores, marking the Jaipur maker's pivot from B2B to consumer retail.
Jaipur jewellery maker Advit Jewels' Rs 165 crore IPO opened June 23, subscribed 2.85x on day one with GMP at Rs 64. Proceeds fund debt repayment and B2C expansion of Rambhajo brand with 30 franchise stores planned.