Advit Jewels IPO Listing 2026: 37% Premium Debut Day

Strong debut for Jaipur-based jewellery maker

Advit Jewels, a Jaipur-based jewellery maker that owns the 'Rambhajo' brand, listed on Wednesday, July 1, 2026, after completing its IPO that raised ₹165.16 crore. The stock opened well above its issue price of ₹138, reflecting strong demand carried over from the subscription period and the grey market.

The company’s shares started trading at a sizeable premium on both major exchanges, giving IPO investors an immediate listing gain. But the session also saw selling pressure later in the day, with the stock hitting a 5% lower circuit on both the NSE and BSE.

Listing prices on NSE and BSE

On the NSE, Advit Jewels opened at ₹188.90 per share, which translates into a premium of ₹50.90 per share, or 36.88%, over the IPO issue price of ₹138. On the BSE, the stock debuted at ₹187, a 35.51% gain compared with the issue price.

The listing performance was closely watched because it came after a period of strong grey market signals. Multiple market trackers had indicated a premium that broadly pointed to a listing in the high-₹180s to around ₹190.

Early trade and intraday pressure

Despite the strong opening, the stock came under pressure after listing. Reports from the session indicated the share price was locked in a 5% lower circuit at ₹179.46 on the NSE and ₹177.65 on the BSE.

At 10:12 IST, the stock was reported trading at ₹178 on the BSE, still above the IPO price. Even after the drop, the stock remained meaningfully higher than the offer price, with figures cited at 30.04% above issue price on the NSE and 28.73% above issue price on the BSE.

IPO pricing, size, and key terms

The IPO price band was fixed at ₹130 to ₹138 per share, and the offering was also described as a fixed price issue at ₹138 per share. The lot size was 100 shares, implying a minimum application amount of ₹13,800 at the upper end.

The shares were listed on both the BSE and NSE, with references also noting listing on the BSE SME platform. The IPO carried a face value of ₹10 per share.

Subscription window and demand indicators

The IPO opened for subscription on June 23, 2026 and closed on June 25, 2026. During the bidding period, the issue was reported to be subscribed 17.09 times by 10:35 AM on Day 2, pointing to strong interest across investor categories.

The basis of allotment was expected to be finalised on June 29, and the listing date was July 1, 2026. These milestones were part of the standard IPO timeline followed for the issue.

Grey market premium and expectations ahead of listing

The listing was described as outperforming Street expectations, as reflected in the grey market premium (GMP) tracking. A GMP figure of ₹49.50 per share was cited, implying a likely listing around ₹187.50, or a premium of 35.87% to the offer price.

Another data point noted a GMP of +52, which, when applied to the upper end of the band, indicated an estimated listing price of about ₹190 per share, or roughly 37.68% above ₹138. Reports also stated the minimum GMP was ₹0.00 and the maximum GMP was ₹91, underscoring how wide unofficial market readings can be.

What the company said it would use the money for

The ₹165.16 crore issue was positioned as funding for balance sheet strengthening and operational needs. Uses of proceeds cited included working capital requirements, debt repayment, and business expansion.

These stated objectives are commonly monitored by public market investors post-listing because they influence near-term cash flows and the company’s capital structure.

Market view and expert comment

Shivani Nyati, Head of Wealth at Swastika Investmart Ltd., said the company delivered a strong stock market debut, listing at ₹188.90 on the NSE and ₹187 on the BSE, translating into gains of more than 35% over its IPO price of ₹138.

Separately, coverage around the offer also noted that SBI Securities had recommended a 'Subscribe' rating, amid strong grey market interest ahead of the opening.

Key facts table

Why the listing matters for investors

Advit Jewels’ debut shows how IPO demand and grey market indicators can translate into a strong opening print, even when the stock faces immediate profit-taking. The move from a 35% plus listing gain to a lower circuit on the same day highlights the volatility that can accompany newly listed stocks.

For IPO participants, the key takeaways were the gap between the issue price and the opening price, and the quick shift in price action after the initial surge. For secondary market buyers, the session underlined the importance of tracking liquidity, circuit limits, and the price behaviour after listing rather than only the opening premium.

Conclusion

Advit Jewels listed on July 1, 2026 at ₹188.90 on the NSE and ₹187 on the BSE, delivering listing gains of more than 35% over its ₹138 IPO price, before slipping to 5% lower circuit levels. The IPO raised ₹165.16 crore and was positioned to support working capital, debt repayment, and expansion, with the basis of allotment expected on June 29 as part of the issue timeline.