Advit Jewels IPO to Open on June 23, 2026: Fresh Issue Targets Working Capital and Debt Reduction

Mumbai, June 12: Advit Jewels Ltd. is set to launch its initial public offering on June 23, 2026, opening a book-built issue that will remain available for subscription until June 25, 2026. The company plans to list its shares on both the BSE and NSE, with the tentative listing date scheduled for July 1, 2026. 

The IPO consists entirely of a fresh issue of 1.20 crore equity shares, meaning the proceeds will flow directly to the company rather than existing shareholders. According to the offer documents, the fundraising is aimed at supporting business expansion through additional working capital, reducing debt obligations, and meeting general corporate requirements. 

The issue arrives at a time when organized jewellery manufacturers are increasingly looking to strengthen their balance sheets and expand distribution networks amid growing demand for branded jewellery products across India. 

Fresh Issue Structure and Offer Details 

Advit Jewels has structured the IPO entirely as a fresh issue, with no offer-for-sale component included in the public offering. 

The company will issue 1,19,68,000 equity shares, resulting in an increase in post-issue share capital. Since no existing investors are selling shares through the offer, the capital raised will be available for deployment toward the company’s stated objectives. 

The final issue size in rupee terms and the price band had not been disclosed at the time of the offer schedule announcement. 

As a book-built IPO, investors will be able to place bids within the specified price range once the company announces the price band. 

Subscription Timeline and Listing Schedule 

The public issue will open on June 23, 2026, and close on June 25, 2026. 

The tentative IPO timetable is as follows: 

• IPO Opens: June 23, 2026 

• IPO Closes: June 25, 2026 

• Basis of Allotment: June 29, 2026 

• Refund Initiation: June 30, 2026 

• Credit of Shares: June 30, 2026 

• Listing on BSE and NSE: July 1, 2026 

These dates are subject to regulatory approvals and completion of exchange procedures. 

Allocation Reserved Across Investor Categories 

The company has allocated the issue among institutional, non-institutional and retail investors in accordance with prevailing regulations. 

Of the total issue: 

• Qualified Institutional Buyers (QIBs): 49.98% 

• Non-Institutional Investors (NIIs): 15.01% 

• Retail Investors: 35.01% 

Within the institutional category, 35.89 lakh shares have been reserved for anchor investors ahead of the public subscription period. 

Such allocations are designed to ensure balanced participation from institutional investors, high-net-worth individuals and retail applicants. 

Capital Raise Focused on Working Capital and Debt Repayment 

The company intends to utilize the IPO proceeds primarily to strengthen its financial position and support business operations. 

According to the prospectus, the key objectives include: 

• Funding incremental working capital requirements 

• Repayment or prepayment of certain outstanding borrowings 

• General corporate purposes 

A significant portion of the proceeds has been earmarked for working capital needs, reflecting the inventory-intensive nature of the jewellery business. Another major allocation is intended for reducing debt, which could improve financial flexibility and lower interest costs over time. 

Jaipur-Based Jewellery Manufacturer 

Incorporated in 2019, Advit Jewels operates from Jaipur and specializes in handcrafted fine jewellery under the “Rambhajo” brand. 

The company focuses on traditional Indian jewellery categories, including Kundan, Polki, diamond-studded and gold jewellery, while blending heritage craftsmanship with contemporary design aesthetics. 

Its product portfolio includes necklaces, earrings, rings, bangles and customized jewellery pieces crafted in 14-carat and 18-carat gold, often featuring diamonds and coloured gemstones. 

The company serves both wholesale and retail customers, with a business model that combines B2B distribution through dealers and retailers alongside direct-to-customer bespoke jewellery offerings. 

Handmade Craftsmanship Remains a Core Differentiator 

Advit Jewels positions itself within the premium handcrafted jewellery segment. 

Unlike large-scale mass manufacturers, the company relies on skilled artisans and traditional jewellery-making techniques that have been passed down through generations. This approach allows the business to cater to customers seeking customized and intricate jewellery designs. 

The company’s emphasis on handcrafted production has helped establish its presence in niche jewellery categories where craftsmanship and design play a significant role in purchasing decisions. 

Financial Performance Shows Strong Scale-Up 

Advit Jewels has reported substantial growth over the last few financial years. 

For the period ended December 31, 2025, the company reported: 

• Total Income: ₹123.80 crore 

• Profit After Tax: ₹25.44 crore 

• EBITDA: ₹36.68 crore 

• Net Worth: ₹83.65 crore 

• Total Assets: ₹164.20 crore 

The financial statements indicate a significant expansion compared with earlier years, supported by higher revenue generation and improved profitability. 

At the same time, the company continues to carry borrowings of approximately ₹64.92 crore, one of the reasons debt repayment remains a key objective of the public issue. 

Key Financial Ratios Ahead of the IPO 

As disclosed in the offer documents, Advit Jewels reported several notable performance indicators. 

For the period ended December 31, 2025: 

• Return on Equity (ROE): 35.89% 

• Return on Capital Employed (ROCE): 24.09% 

• Return on Net Worth (RoNW): 30.41% 

• PAT Margin: 20.55% 

• EBITDA Margin: 29.63% 

The company reported a debt-to-equity ratio of 1.29, highlighting the importance of balance sheet strengthening through the proposed fundraising. 

Promoter shareholding stood at 94.59% prior to the issue and will decline following the fresh issuance of shares. 

Lead Managers and Registrar 

The IPO is being managed by Holani Consultants Private Limited, which has been appointed as the book-running lead manager. 

Bigshare Services Private Limited will act as the registrar to the issue and handle investor applications, allotment processing and share transfer-related activities. 

With subscriptions opening on June 23, market participants will closely monitor investor interest in the jewellery manufacturer, particularly given its focus on handcrafted premium jewellery and its plans to improve liquidity and reduce leverage through the IPO proceeds. 

Source: 

• https://www.sebi.gov.in/filings/public-issues/oct-2025/advit-jewels-limited_97123.html