Advit Jewels, a Jaipur-based manufacturer of Kundan, Polki, diamond and studded jewellery, has fixed the price band for its initial public offering (IPO) at Rs 130-138 per share. The public issue will open for subscription on June 23 and close on June 25. Investors can bid for a minimum of 100 shares and in multiples thereafter.
The IPO comprises a fresh issue of 1.19 crore equity shares. At the upper end of the price band, the company is looking to raise about Rs 165 crore.
According to the company, the proceeds from the issue will be used towards funding working capital requirements, repayment or prepayment of certain borrowings and general corporate purposes.
Advit Jewels operates under the "Rambhajo" brand and manufactures traditional as well as contemporary handcrafted jewellery. The company specialises in Kundan, Polki, diamond and studded jewellery and caters to both business-to-business (B2B) and business-to-consumer (B2C) customers.
The company said its strength lies in design innovation and customisation, offering products tailored to customer preferences, cultural requirements and market trends. Its portfolio includes necklaces, earrings, rings, bangles and customised jewellery pieces crafted primarily using gold, diamonds and coloured stones.
Advit Jewels manufactures its products at a facility in Jaipur spread across about 6,450 square feet. The unit is equipped with machinery such as 3D printers, casting units and polishing machines, allowing the company to undertake the entire jewellery production process in-house, from raw gold processing to final finishing.
The company is also constructing a flagship retail store in Jaipur as it looks to expand its presence and cater to growing demand.
According to the company, all key manufacturing activities, including melting, chain making, stone setting, polishing and quality inspection, are carried out internally, helping it maintain quality standards and reduce turnaround times.
For the nine months ended December 31, 2025, Advit Jewels reported revenue from operations of Rs 1,237.9 crore and a net profit of Rs 254.4 crore.
Holani Consultants is the book-running lead manager to the issue, while Bigshare Services is the registrar.
