Advit Jewels opens Rs 165 cr IPO at Rs 130-138 band, eyes bridal Polki/Kundan dominance
Jaipur-based luxury jeweller behind Rambhajo's launches three-day IPO June 23-25, pricing at 25.1x FY25 P/E for a Rs 632 cr market cap. Fresh issue of 1.2 cr shares funds expansion in Polki/Kundan/Jadau bridal segment. Anand Rathi flags aggressive valuation and 199-day inventory cycle but recommends long-term subscribe.
Jaipur-based luxury jewellery maker Advit Jewels (Rambhajo's brand) opens Rs 165 crore IPO June 23-25 at Rs 130-138 band, focused on Polki/Kundan/Jadau bridal segment. Anand Rathi rates 'Subscribe for Long Term' despite aggressive valuation.
Why this matters
Advit Jewels' IPO launch follows Rs 49.5 cr anchor commitment and a 47% grey market premium, signalling strong pre-listing demand for the Polki/Kundan bridal specialist behind Rambhajo's.
Retail-company signals steady at 3,472 over 90 days, reflecting sustained IPO and expansion activity.