NII Portion Subscribed 23.73 Times on Day 1

Mumbai: The Initial Public Offering of Advit Jewels Limited was subscribed 11.18 times on the first day of bidding, demonstrating strong demand from qualified institutional buyers (QIB), retail and non-institutional investors for this IPO.

The issue received bids of 9,36,73,100 equity shares against the offered 83,79,300 equity shares, according to data available on the stock exchanges.

Retail Portion and Non-institutional portion were subscribed 11.55 and 23.73 times, respectively. Qualified Institutional Buyers was subscribed 1.11 times.

The issue kicked off for subscription on Tuesday, June 23, 2026, and will close for subscription on Thursday, June 25, 2026.

A day before the opening of the issue, Advit Jewels Limited had raised Rs 49.52 crore from anchor investors.

Leading brokerage firms like Anand Rathi, Marwadi Financial Services, SBI Securities and SMIFS Limited have given their “Subscribe” recommendation to Advit Jewels Limited, which is a Jaipur-based manufacturer and seller of traditional and contemporary handcrafted fine jewellery, specializing in Kundan, Polki, diamond and studded pieces.

SBI Securities highlights the company’s product collection includes antique, bridal, traditional, contemporary, and fusion styles, spanning various price ranges, occasions, and age groups.

On the valuation front, the IPO at the upper price band is valued at an annualized 9MFY26 P/E multiple of 18.6 times. Although, this multiple is higher than its peers, it is in line when adjusted for higher growth across revenue and profitability. It recommends a Subscribe to the issue.