Advit Jewels' initial public offering (IPO) opened on June 23 with strong investor interest, receiving bids for 9.45 crore shares against an offer of 83.79 lakh shares. This resulted in an overall subscription of 11.28 times on the first day, with the retail segment attracting 27 times the bids, according to livemint.com.
The IPO, valued at ₹165.16 crore, will remain open for subscription until June 25. The high demand on the opening day reflects robust investor appetite, particularly from retail and non-institutional investors. The grey market premium (GMP) also signals a positive listing outcome for Advit Jewels, indicating expectations of a strong debut in the stock market.
Advit Jewels enters the market alongside listed peers such as Bluestone Jewellery and Lifestyle, RBZ Jewellers, and Radhika Jeweltech. The strong subscription levels highlight the growing investor interest in the jewellery retail sector, which has seen increased activity in public listings recently. This IPO adds to the momentum in the sector, which is attracting capital amid rising consumer demand.
The subscription period for Advit Jewels' IPO closes on June 25, after which allotment and listing details will be finalized. The company’s performance in the public markets will be closely watched as it seeks to capitalize on the positive investor response recorded on the first day.