Advit Jewels trims IPO to 1.19 crore shares, opens June 23
Jaipur-based handcrafted jewellery maker Advit Jewels, owner of the Rambhajo brand specialising in Kundan, Polki and diamond pieces, launches a downsized fresh-issue IPO June 23-25 with anchor allocation June 22. Proceeds earmarked for Rs 65 crore working capital and Rs 65 crore debt repayment.
Jaipur-based handcrafted jewellery maker Advit Jewels (brand Rambhajo, specialising in Kundan, Polki and diamond pieces) opens a reduced fresh-issue IPO of 1.19 crore shares June 23-25, with proceeds funding working capital and debt repayment.
Why this matters
Advit Jewels, owner of the Rambhajo handcrafted jewellery brand, scales back its IPO ambitions while pursuing capital to fund working capital needs and reduce debt on its balance sheet.
Retail-company signals steady at 2,795 over the last 90 days.