Advit Jewels' initial public offering (IPO) was oversubscribed 212.63 times during its three-day subscription period from June 23 to 25, according to livemint.com. The company set the price band at ₹130-138 per equity share. The stock is scheduled to debut on the BSE and NSE on July 1, with the grey market premium suggesting a possible listing price of ₹184 per share.
The IPO attracted significant investor interest, leading to the high oversubscription rate. The price band was fixed between ₹130 and ₹138, and the strong demand was reflected in the grey market premium (GMP), which signals investor optimism about the stock's listing performance. The company completed its subscription process successfully and is now preparing for the public market debut on Wednesday.
This oversubscription places Advit Jewels among the most sought-after IPOs in recent times, highlighting robust investor appetite in the Indian equity market. The grey market premium of ₹184 per share indicates expectations of a strong listing gain. Such demand underscores the company's market positioning and investor confidence, which could set a benchmark for upcoming IPOs in the sector.
Advit Jewels will officially list on the Bombay Stock Exchange and National Stock Exchange on July 1, marking a key milestone for the company and its investors. The GMP of ₹184 per share provides a concrete indicator of market sentiment ahead of the debut.