Advit Jewels' initial public offering (IPO) was oversubscribed 213 times on its third day of bidding, continuing strong investor interest since its opening. The issue comprises 1.20 crore shares priced between ₹130 and ₹138 each, aiming to raise ₹165.16 crore for working capital and debt repayment, according to livemint.com.
The IPO was fully booked on the first day and saw robust participation across all investor categories, including non-institutional investors (NII) and qualified institutional buyers (QIB). The strong demand was reflected in the grey market premium (GMP), which stood at ₹52 per share as of the third day. This premium signals expectations of a listing price significantly above the issue price, highlighting market confidence in the company’s prospects.
The oversubscription of Advit Jewels’ IPO by over 200 times marks one of the strongest responses in the recent jewellery sector listings. The company plans to use the funds primarily for working capital and to repay debt, which may improve its financial health and operational capacity. The robust demand across investor categories underscores the continued appetite for consumer-focused firms in India’s capital markets.
Advit Jewels’ IPO subscription figures and GMP indicate a likely premium listing. The final subscription data and allotment details will be disclosed after the close of the issue, with the listing expected to take place shortly thereafter, as per the company’s regulatory filings.