Advit Jewels SME IPO booked 44x on Day 2; GMP at Rs 40 signals strong listing pop
Advit Jewels' SME IPO drew 44x subscription by Day 2 on robust retail and NII demand. A grey market premium of Rs 40 points to bullish listing expectations. Proceeds will shore up working capital and general corporate needs for the jewellery retailer.
Advit Jewels' SME IPO subscribed 44 times on day two, with strong retail and NII demand. Grey market premium at Rs 40 signals positive listing expectations. Proceeds will fund working capital and general corporate needs for the jewellery company.
Why this matters
Subscription momentum has accelerated sharply, jumping from 14x and 16.66x earlier on Day 2 to 44x, even as DRChoksey flagged a cautious subscribe call on the Rs 165 crore issue.
Retail-company signals remain steady with 3,666 logged in the last 90 days.
Also reported by
- Moneycontrol — Same time