Advit Jewels IPO

About the company

Advit Jewels is a Jaipur-based company engaged in the manufacturing and sale of traditional as well as contemporary handcrafted fine jewellery. Its products include kundan, polki, diamond and studded jewellery. The company has operated under its long-established brand, "Rambhajo", since 1921. The company combines more than 100 years of jewellery craftsmanship and business heritage with modern manufacturing capabilities. The company offers a broad range of jewellery products, including necklace sets, chick sets, bracelets, bangles, earrings, pendant sets, rings, pendants, and traditional accessories such as nath, tika and mathapatti. It mainly works with 14-carat and 18-carat gold, diamond polki and coloured gemstones. The business focuses on the B2B segment, which supplies jewellery to dealers, jewellery showrooms and retailers across India. It also serves select B2C customers through customised and made-to-order jewellery pieces. The B2B segment has grown significantly over the years. Currently, it contributed 82.4% of total revenue in 9MFY26, which was 63.01% in FY24. The B2C segment accounted for 17.39% during the same period. Among all product categories, necklace sets emerged as the largest contributor, accounting for 47.59% of revenue during 9MFY26, compared with ~31% in both FY25 and FY24. The company’s manufacturing unit operates from leased premises with a built-up area of 6,450 sq. ft., located in Jaipur. The facility has modern machinery and equipment such as laser cutting and engraving machines, casting units, 3D printers, progressive and hydraulic press dies, vacuum machines and CVD testing equipment. The entire manufacturing process is carried out in-house. The installed production capacity of the facility is 400 kg per annum. Actual production stood at 183.44 kg in FY25 and 172.07 kg in FY24, with a capacity utilisation of approximately 45.86% and 43.02%, respectively. During 9MFY26, production was 86.31 kg, and capacity utilisation of 21.58%. The key raw materials used by the company are gold, polki diamonds, precious stones and semi-precious stones. Rajasthan was the company's primary sourcing market that contributed 80.9% of total purchases in FY23 and 77.7% in FY24. During 9MFY26, Rajasthan's contribution decreased to 21.1%, while suppliers from other states contributed for 78.9% of total purchases. The company serves customers across 18 to 21 states in India and has recently started exporting its products. During 9MFY26, domestic sales contributed 98.7% of total revenue, amounting to ₹122.18 crore, while exports to the USA and Hong Kong made up revenue of ₹1.60 crore, which is 1.28% of total sales. Rajasthan remained the largest revenue-generating state, contributing 35.76% of total revenue, followed by Delhi at 20.75% and Maharashtra at 11.16%. The sales volume increased from 141.15 kg in FY23 to 239.63 kg in FY25, which resulted in a volume growth of 38.92% over the period despite higher gold prices. Its customer base expanded from 96 customers in FY23 to ~258–260 customers during FY24 and FY25. Revenue generated per customer also improved from ₹48.55 lakhs in FY23 to ₹63.16 lakhs during 9MFY26. The company widened its product offering from 8 SKUs in FY23 to 21 SKUs in FY25. The gems and jewellery business is well-known internationally for its excellent designs, extensive processing capacities, and diversified export range that includes diamonds, jewellery made of gold and silver, colored stones, and artificial stones. Almost 75% of global polished diamond production occurs in India, and the country is among the top exporters to the international market. It leads in exports of cut and polished diamonds, exporting goods worth $13.70 billion with 25% global market share. India is ranked third when it comes to the export of gold jewellery, with exports of USD $11.10 billion accounting for a market share of 9.1%, whereas it is ranked second when it comes to the export of silver jewellery, with exports worth $1.17 billion representing 14.2% of the global market share. Domestic demand in India has been low due to its deep cultural roots in the country, especially at weddings and other festivals. Bridal jewellery forms 50-55% of the total annual consumption of gold. Recently, demand has also been impacted by changing consumer preferences towards lighter and everyday-wear jewellery. Also, competition is increasing from lab-grown diamonds. Gold jewellery consumption is expected to recover to ~800 tonnes by FY27, supported by rising disposable incomes, a growing middle-class population, mandatory hallmarking that is improving consumer confidence, and continued government efforts to formalise and modernise the sector. The company is planning to set up a retail showroom to reduce dependence on credit-based wholesale sales and improve cash generation. Also, it intends to expand through a franchise-led model. The company also plans to participate in international trade fairs to improve brand visibility and expand its export business. Now, Advit Jewels Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹165 crore only. Its shares will be listed on the NSE and BSE. ### **How to pre-apply for Advit Jewels IPO?** You can pre-apply for Advit Jewels IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription. Follow these steps to pre-apply for the IPO: - Login to your Upstox account, using your six-digit PIN - After successfully logging in, click on ‘Discover’ - On the Discover tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘Advit Jewels IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Pre-Apply’ - Accept the mandate on your UPI app ### **How to apply for Advit Jewels IPO?** If you are interested in this investment opportunity but unsure how to apply for Advit Jewels IPO, here are the steps that you need to follow. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for Advit Jewels IPO on Upstox: - Log in to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘Advit Jewels IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Apply’ - Accept the mandate on your UPI app ### **How to check the Advit Jewels IPO allotment status? ** When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes. Here’s a step-by-step guide on how to check the Advit Jewels IPO allotment status: - Login to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ page, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, you will find the ‘View all’ option - Once you click on ‘View all’, you will be directed to the ‘IPO’ tab - In the ‘IPO’ tab, click on ‘My applications’ - In ‘My applications’, under the History section, your Advit Jewels IPO allotment status will be mentioned

GMP trend (Grey Market Premium by date)

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   23 Jun 2026

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   25 Jun 2026

   Last day to place your bid

3. Basis of Allotment

   Completed
   29 Jun 2026

   Share allotment finalised

4. Refund Initiation

   Completed
   30 Jun 2026

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   30 Jun 2026

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   01 Jul 2026

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.