Jaipur-based jewellery company Advit Jewels made a strong debut in the stock market on Tuesday, delivering impressive returns to investors on the very first day of trading.
The company’s shares were listed at a huge premium compared to their IPO price, reflecting strong investor confidence and massive demand during the subscription period.
Advit Jewels Shares List at a Bumper Premium
Advit Jewels shares were listed on the BSE at Rs 187, which is 35.50% higher than the IPO issue price of Rs 138 per share. On the NSE, the stock opened even higher at Rs 188.90, giving investors a listing gain of 36.88%.
Following the strong listing, the company’s market capitalization reached Rs 814.27 crore.
IPO Received Massive Investor Response
The Advit Jewels IPO was open for subscription from June 23 to June 25 and received an overwhelming response from investors.
The IPO was subscribed a massive 212.63 times on the final day of bidding. Investors from all categories showed strong interest, making it one of the most talked-about IPOs in recent times.
The non-institutional investor (NII) category saw the highest demand, with subscriptions reaching 536.38 times.
The qualified institutional buyer (QIB) portion was subscribed 174.98 times, while retail investors subscribed their quota 95.30 times.
Notably, the IPO was fully subscribed on the very first day itself.
IPO Details and Share Allotment
Advit Jewels raised Rs 165 crore through its initial public offering. The company had fixed the price band between Rs 130 and Rs 138 per share.
Retail investors could apply for a minimum lot size of 100 shares. The share allotment process was completed on June 29.
How Will the Company Use the IPO Funds?
The Advit Jewels IPO consisted entirely of fresh shares, with no Offer for Sale (OFS) component.
The company plans to use around Rs 65 crore from the IPO proceeds to repay existing debt.
Another Rs 65 crore will be used to meet working capital requirements, while the remaining amount will be utilized for general corporate purposes.
