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15 Jan, 2026
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.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Advit Jewels IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Advit Jewels IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹10 per Equity Share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Issue (No Offer for Sale) |
| Total Issue Size | Up to 1,38,00,000 Equity Shares |
| Fresh Issue(Ex Market Maker) | Up to 1,38,00,000 Equity Shares |
| Offer for Sale | [.] |
| Issue Type | 100% Book Built Issue |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 3,20,10,000 shares |
| Share Holding Post Issue | 4,58,10,000 shares |
Advit Jewels IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | 5:00 p.m. on the Bid/Issue Closing Date |
Advit Jewels IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | - | ~₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | - | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | - | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | - | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | - | Over ₹10,00,000 |
Advit Jewels IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 100% |
| Promoter Holding Post Issue | [.] |
Competitive Strength:
- • Diversified Product Portfolio under brand "Rambhajo" specializing in high-value handcrafted Kundan, Polki, and diamond-studded traditional and contemporary jewellery.
- • Established B2B Network serving marquee clients like Novel Jewels (Aditya Birla) with 81% revenue from dealer and showroom partnerships.
Advit Jewels IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 140.85 | 124.94 | 25.37 | 58.13 | 58.12 | 74.80 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 67.21 | 69.45 | 14.71 | 32.80 | 32.79 | 19.70 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 29.01 | 46.60 | 10.39 | 18.08 | 18.07 | 5.84 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 55.79% |
| ROCE | 27.48% |
| Debt/Equity | 1.29x |
| RoNW | 43.64% |
| PAT Margin | 20.30% |
| EBITDA Margin | 29.73% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 7.92 | [.] |
| P/E (x) | [.] | [.] |
IPO Objectives
The company has planned to use funds from the Advit Jewels IPO for the following purposes:
- • A significant portion of the funds will be used to meet the increased working capital requirements.
- • Investment in new machinery and equipment to modernise the manufacturing facility and increase production capacity.
- • General Corporate Purposes
Conclusion
Advit Jewels Ltd. has glued the position in the market as a focused player in the competitive Indian jewellery landscape. By utilising its Jaipur-based manufacturing strengths and focusing on the growing demand for gold and Polki (uncut diamonds) jewellery, the company has demonstrated a clear path of revenue growth over the last 3 years.
The Advit Jewels IPO is designed to provide the necessary capital to scale its operations and formalise its corporate structure. As the company looks to expand its capacity and strengthen its balance sheet, its focus remains on executing its B2B strategy within the domestic market.
IPO DRHP Status
| # | Description | Date | File |
|---|---|---|---|
| 1 | Filed with SEBI/Exchange | 30-09-2025 | View DRHP |
| 2 | SEBI/Exchange approval received | - | - |
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Frequently asked Questions (FAQs )
-
What is the total size of the Advit Jewels Limited IPO?
The issue consists of a Fresh Issue of up to 1,38,00,000 equity shares. The final monetary value will be determined once the price band is finalized.
-
What type of jewellery does the company manufacture?
The company specializes in gold jewellery, diamond-studded jewellery, and traditional Polki (uncut diamond) jewellery.
-
Where is the company's manufacturing facility located?
The manufacturing operations are centrally located in Jaipur, Rajasthan, which is a major hub for the Indian jewellery industry.
-
How does the company plan to use the Advit Jewels Limited IPO proceeds?
The funds are primarily intended for working capital needs, purchasing new machinery for the factory, and general corporate purposes.
-
Who are the lead managers and registrars for the Advit Jewels Limited IPO?
GYR Capital Advisors Private Limited is the Book Running Lead Manager (BRLM), and Bigshare Services Private Limited is the Registrar for the issue.
-
Is there an Offer for Sale (OFS) in this IPO?
No, the current DRHP indicates that the Advit Jewels Limited IPO is entirely a Fresh Issue, meaning the money raised will go directly to the company rather than to selling shareholders.
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