Advit Jewels Shines with Upcoming IPO to Fund Expansion
Advit Jewels, a Jaipur-based jeweller, plans its first IPO, offering 1.38 crore fresh equity shares. The proceeds aim to raise Rs 130 crore for working capital, debt payment, and corporate purposes. Specialized in Kundan and Polki jewellery, the company's revenue hit Rs 125 crore in FY25.
- Country:
- India
Advit Jewels is gearing up for its debut in the capital market with a proposed Initial Public Offering (IPO). The Jaipur-based jewellery manufacturer and retailer has filed a draft with the capital markets regulator Sebi, seeking to mobilize funds through this fresh public offering.
The IPO will consist solely of a fresh issue of 1.38 crore equity shares, without any Offer For Sale (OFS) component. According to the Draft Red Herring Prospectus dated September 30, the raised funds are earmarked for Rs 65 crore towards working capital, another Rs 65 crore for debt repayment, and the remaining for general corporate purposes.
Established in 2019, Advit Jewels specialises in traditional and modern handcrafted jewellery under the brand name Rambhajo. The company reported a revenue of Rs 125 crore and a net profit of Rs 25.36 crore in FY25. Holani Consultants will act as the book-running lead manager for the IPO, with plans to list the equity shares on BSE and NSE.
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