New Delhi, 23 June (H.S.): The Rs 165.16-crore initial public offering (IPO) of Advit Jewels Limited, a jewellery manufacturer operating under the Rambhajo brand, opened for subscription on Monday. Investors can bid for the issue until June 25. Following the closure of the issue, share allotment is scheduled for June 29, while the allotted shares are expected to be credited to investors' demat accounts on June 30. The company's shares are likely to be listed on the BSE and the NSE on July 1.
The IPO has been priced in a band of Rs 130 to Rs 138 per share, with a lot size of 100 shares. Retail investors can bid for a minimum of one lot comprising 100 shares, requiring a minimum investment of Rs 13,800. They may apply for a maximum of 14 lots, or 1,400 shares, with an investment of up to Rs 1,93,200. Under the issue, the company is offering a total of 1,19,68,000 fresh equity shares with a face value of Rs 10 each.
Under the IPO structure, 49.98 per cent of the issue has been reserved for Qualified Institutional Buyers (QIBs), 35.01 per cent for retail investors, and 15.01 per cent for Non-Institutional Investors (NIIs). Holani Consultants Private Limited has been appointed as the Book Running Lead Manager for the issue, while Bigshare Services Private Limited is serving as the registrar.
According to the Draft Red Herring Prospectus (DRHP) filed with capital markets regulator the Securities and Exchange Board of India (SEBI), Advit Jewels has consistently strengthened its financial position over the past few years. The company reported a net profit of Rs 10.39 crore in FY 2022–23, which increased to Rs 14.71 crore in FY 2023–24 and further surged to Rs 25.37 crore in FY 2024–25. During the first nine months of FY 2025–26 (April 1 to December 31, 2025), the company had already posted a net profit of Rs 25.44 crore.
The company's revenue also recorded consistent growth during the period. Total revenue rose from Rs 46.60 crore in FY 2022–23 to Rs 69.45 crore in FY 2023–24, before jumping to Rs 124.94 crore in FY 2024–25. During the first nine months of FY 2025–26 (April 1 to December 31, 2025), the company had already generated revenue of Rs 123.80 crore.
During the same period, the company's debt burden increased steadily. Outstanding debt stood at Rs 5.84 crore at the end of FY 2022–23, rose to Rs 19.70 crore in FY 2023–24, and further surged to Rs 74.80 crore in FY 2024–25. However, during the first nine months of FY 2025–26, the company's debt declined to Rs 64.92 crore as of December 31, 2025.
The company's net worth also improved consistently. It increased from Rs 18.08 crore in FY 2022–23 to Rs 32.80 crore in FY 2023–24, and further rose to Rs 58.13 crore in FY 2024–25. During the first nine months of FY 2025–26, net worth climbed to Rs 83.65 crore.
Similarly, the company's reserves and surplus witnessed steady growth. They stood at Rs 18.07 crore in FY 2022–23, increased to Rs 32.79 crore in FY 2023–24, and further rose to Rs 58.12 crore in FY 2024–25. During the first nine months of FY 2025–26, reserves and surplus stood at Rs 51.64 crore.
The company's EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) also recorded consistent growth. EBITDA stood at Rs 12.77 crore in FY 2022–23, increased to Rs 18.95 crore in FY 2023–24, and further rose to Rs 37.15 crore in FY 2024–25. During the first nine months of FY 2025–26 (April 1 to December 31, 2025), EBITDA stood at Rs 36.68 crore.
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Hindusthan Samachar / Jun Sarkar
