Advit Jewels IPO

Advit Jewels Ltd. filed its DRHP with SEBI on September 30, 2025, for a 100% book-built IPO. The IPO size comprises a fresh issue of up to 1,38,00,000 equity shares with a face value of ₹10 each (containing no Offer for Sale (OFS) component), so all proceeds will flow directly into the company for debt repayment and working capital.

As the company is currently in the pre-listing stage, the price band, official opening and closing dates and the expected listing date have yet to be announced. For this IPO, Holani Consultants Private Ltd. is serving as the Book Running Lead Manager (BRLM), as Bigshare Services Private Ltd. has been appointed as the Registrar for the issue.

Company Background

Advit Jewels Ltd. was originally incorporated as a private ltd. company on November 4, 2020, under the name "Advit Jewels Private Ltd." In 2024, the company underwent a conversion into a public ltd. company to facilitate its growth and the Advit Jewels Ltd. IPO. Their current corporate structure (business structure) is relatively young, but the business has maintained the deep-rooted heritage of the jewellery industry in Jaipur, Rajasthan.

Headquarter of the company is located in Jaipur, Rajasthan. A perfect spot for this kind of company expansion, as Jaipur is a city globally renowned as a hub for gemstone and jewellery craftsmanship. From the birth of the business, they only focused on the manufacturing and wholesale of exquisite jewellery, evolving from a local player into a supplier that serves a broad network of retailers and wholesalers across India.

Operations and Product Range

The core operations of this company revolve around the precision manufacturing of high-value jewellery. The company’s product portfolio is diverse, catering to varying consumer tastes and price points. The primary offerings provided by the Advit jewels include gold jewellery, diamond-studded pieces and the traditional Polki (uncut diamond) jewellery that is highly in demand, especially in the Indian wedding and festive markets.

The company functions primarily as a B2B (Business-to-Business) entity. Their target customers aren’t individuals; in reality, their target customers are established retail showrooms and large-scale wholesalers. By focusing on the wholesale segment, the company manages to achieve significant volume while maintaining specialised design standards that are characteristic of the North Indian jewellery tradition.

Facilities and Capacity

Advit Jewels Ltd. operates a manufacturing facility in Jaipur, Rajasthan (which is their headquarters as well). This facility comes into reality with the help of modern machinery and traditional handcrafted stations, which allow the company to blend technology with artisanal skill. The combination of these methods is essential for creating the adorable designs required for Polki and diamond-embedded sets.

Now, the facility Advit Jwels provides has an annual installed capacity to process approx 1,200 kg of gold jewellery and 50,000 carats of diamond and Polki jewellery. In the season of these fab jewels company needs to meet the rising demand and enhance production efficiency, so they have outlined plans within the Advit Jewels IPO framework to utilise a portion of the proceeds for purchasing additional machinery and equipment, which will increase their efficiency and then they will be able to meet the requirements.

Brands and Market Presence

The market presence of Advit Jewels Ltd. is strongest in the northern and western regions of India, as those states' cultural designs are closely relatable to the custom-made designs of this company. Advit Jewels serves a wide range of clients in India. The "Advit" name is associated with quality craftsmanship in the wholesale circles of the industry.

Their business is mainly domestic and the most revenue they generate comes from the border of India. By focusing on the domestic market, the company easly manage to explore the massive industry of India and it remains a primary driver for gold and diamond consumption. The company maintains various industry-standard certifications for the purity of its metals and the authenticity of its stones, which are critical for maintaining trust in the wholesale jewellery market.

Revenue Streams and Business Model

The primary revenue stream for Advit Jewels is the sales of finished jewellery products and the custom designs they make as per the requirements of the clients. The business model is built on high-value transactions with recurring wholesale clients. From their centralised manufacturing hub in Jaipur and a lean distribution model, they aim to optimise their operating margins.

The company has shown a consistent growth financially and in revenue from operations increased from ₹ 8,564.21 lakhs in Fiscal 2022 to ₹ 15,432.10 lakhs in Fiscal 2024. This growth reflects the surge in the client base of the company, with an increase in the volume of precious metals processed. For the financial year 2024, the company reported a net PAT of ₹ 1,120.45 lakhs, indicating a stable upward trajectory in its bottom line.

Management and Shareholding

Promoters and Shareholding

The promoters of the company are Mr Nitin Gilara and Mr Abhishek Gilara. They have been the base in the company’s growth since its incorporation, bringing significant experience in the jewellery trade. Before the Advit Jewels IPO, the company’s promoter and promoter group held the entire stake of the company. Following the issue, their percentage of holding will be diluted to accommodate the new public shareholders, though they will continue to retain majority control.

Board and Key Management

The Board of Directors is led by Mr Nitin Gilara, who serves as the Managing Director. The board also includes executive directors and a team of independent directors who provide oversight on corporate governance, audit committees and remuneration policies. The management team of this company is supported by professionals in production, design and finance to oversee daily operations.