Advit Jewels IPO 2026: ₹165 Cr Issue, Debt-Free Plan

IPO launch and what the company is aiming for

Advit Jewels Limited, a Jaipur-based jewellery manufacturer, is preparing to enter the public markets with a fresh issue IPO focused on balance sheet strengthening and retail expansion. The company has positioned the offer as a step toward becoming debt-free and building a larger consumer-facing footprint. Chairman and Managing Director Nitin Gilara said the intent is to clear liabilities and then pursue aggressive growth in the company’s B2C business. The brand at the centre of this push is Rambhajo.

The company currently operates largely in a business-to-business model, supplying jewellery to retailers and dealers. The IPO proceeds are intended to support a strategic shift toward direct consumer sales through branded outlets. Alongside planned stores, the company is also building a flagship retail store in Jaipur.

IPO dates, price band, and listing plan

The Advit Jewels IPO opens for subscription on June 23, 2026 and closes on June 25, 2026. The price band has been set at ₹130 to ₹138 per equity share. The shares are proposed to be listed on both BSE and NSE.

The offer is described as a book-built issue and is 100% fresh issue, meaning the entire proceeds go to the company and there is no offer for sale (OFS) by existing shareholders. The issue size is stated at ₹165.16 crore, with the fresh issue comprising about 1.19-1.20 crore equity shares.

Issue structure, lot size, and minimum retail application

For retail investors, the IPO application lot size is 100 shares. Based on the upper end of the price band, the minimum retail investment amount works out to ₹13,800 (100 shares x ₹138).

As per details shared around the issue, the allotment is expected to be finalised on June 29, 2026, with a tentative listing date of July 1, 2026.

Where the ₹165.16 crore will be used

The company has outlined multiple uses for the net proceeds, with debt repayment being a key priority. From the stated plan, about ₹65 crore is earmarked for repayment or prepayment of certain outstanding borrowings from scheduled commercial banks. Nitin Gilara indicated that after settling debts, the company expects to operate without liabilities.

The remaining proceeds are intended to support expansion and operations, including incremental working capital requirements and general corporate purposes. In the company’s stated utilisation plan, working capital funding is also mentioned at ₹65 crore, along with general corporate purposes (up to 25% of gross proceeds), which may include business development, brand building, and marketing for Rambhajo.

Rambhajo expansion plan: 30 outlets in three years

A central element of Advit Jewels’ IPO narrative is the ramp-up of its consumer business under the Rambhajo brand. The company plans to open around 30 Rambhajo-branded outlets over the next three years. The route being highlighted is franchise partnerships, with a focus on major urban markets and tier-II cities.

The company has also stated that it is building a flagship retail store in Jaipur to support its direct-to-consumer strategy. The expansion is positioned around the ultra-premium wedding jewellery segment.

Business profile and product focus

Advit Jewels is described as a manufacturer of fine jewellery based in Jaipur, Rajasthan. The product positioning mentioned around the IPO includes handcrafted jewellery such as Jadau, Kundan, Polki, and diamond-studded designs, with a focus on premium wedding demand. The company’s fine jewellery focus includes gold jewellery with diamond polki (uncut or rose-cut diamonds) and precious or semi-precious gemstones.

The company has been associated with the Rambhajo brand, which it aims to scale in the B2C channel while continuing its B2B roots.

Capital expenditure and capacity additions referenced in filings

The company has cited capacity expansion already undertaken, with equipment acquisition described at ₹1.82 crore (₹182 lakh). The expansion is also reflected in the reported rise in property, plant and equipment (PPE) values: from ₹2.10 crore (March 2024) to ₹14.79 crore (March 2025) and ₹20.03 crore (December 2025), as mentioned in the provided details.

These figures are being used to show that operational capacity has been scaled ahead of a planned push in branded retail.

Pre-IPO placement and pricing context

Ahead of the IPO, the company completed a pre-IPO placement of 18,32,000 equity shares at ₹125 per share on May 13, 2026, raising ₹22.90 crore. The placement involved 49 investors, and it is cited as a recent pricing reference point ahead of the IPO’s price band of ₹130-₹138.

Key issue partners and intermediaries

As per the details provided, Holani Consultants Private Limited is the book-running lead manager for the issue. Bigshare Services Private Limited is the registrar.

These intermediaries handle core processes such as book-building, allotment processing, and investor servicing for the public issue.

Key facts table

Market impact and what investors will track

The IPO positions Advit Jewels at the intersection of manufacturing-led jewellery supply and the faster-growing branded retail opportunity. For investors, the key watchpoints from the stated plan are the pace of debt reduction, deployment of working capital, and the execution of the Rambhajo franchise rollout. The company has also pointed to operating profitability, citing EBITDA margins of around 29% in the provided context.

Another factor to track is how quickly the Jaipur flagship store and the proposed franchise network convert into a stable B2C revenue stream, given the company’s existing B2B orientation. Since the issue is entirely fresh, the outcome of the fund deployment will be central to how the market evaluates the post-IPO strategy.

Conclusion

Advit Jewels’ ₹165.16 crore IPO, opening June 23, 2026, is structured as a fresh issue aimed at becoming debt-free and scaling the Rambhajo brand into a wider B2C retail network. The company has outlined debt repayment, working capital support, and general corporate purposes as the primary uses of proceeds. With plans for around 30 franchise outlets over three years and a flagship store under construction in Jaipur, investors will focus on execution against the stated expansion timeline and the company’s ability to balance B2B continuity with a larger consumer push.