Jaipur-based jewellery manufacturer Advit Jewels Limited has set its initial public offering price band at Rs 130 to Rs 138 per share, aiming to raise Rs 165.16 crore. The fresh issue opens June 23, 2026, with proceeds earmarked to fund working capital and debt reduction for its "Rambhajo" brand operations.
JAIPUR, India — Advit Jewels Limited, a prominent manufacturer of handcrafted fine jewellery, has formally announced the price band for its upcoming initial public offering (IPO). The Jaipur-based company, widely recognized for its operations under the luxury brand name "Rambhajo," will open its public issue for subscription on Tuesday, June 23, 2026, marking a significant entry into the mainboard primary capital markets.
The strategic initial public offering comes at a time when India’s organized jewellery retail and manufacturing sectors are experiencing substantial consolidation and a shift toward formal, institutional structures. By filing its final prospectus, the enterprise aims to transition into a publicly traded corporate entity, capitalizing on strong domestic consumption cycles and expanding its manufacturing footprints.
Price Band Details and Capital Structure
According to corporate disclosures finalized on June 15, 2026, Advit Jewels has fixed its IPO price band at Rs 130 to Rs 138 per equity share, with each share holding a face value of Rs 10. The entire public offering is structured strictly as a fresh issue of 1.19 crore (11,968,000) equity shares, meaning there is zero offer-for-sale (OFS) component by existing promoters or institutional backers.
At the upper boundary of the specified price band, the initial share sale is valued at approximately Rs 165.16 crore. Investors can submit bids for a minimum lot size of 100 equity shares, requiring a base investment of Rs 13,800 per retail application. The institutional and retail quota allocations are clearly partitioned, with up to 50% reserved for Qualified Institutional Buyers (QIBs), 35% for retail individual investors, and the remaining 15% allocated to Non-Institutional Investors (NIIs).
Strategic Allocation of Capital Proceeds
According to the red herring prospectus (RHP) submitted to market regulators, the net asset generation from the public equity float will be directed into multiple strategic avenues to reinforce company fundamentals. The company has earmarked Rs 65 crore specifically to meet its incremental working capital requirements. Given the high-value nature of raw gold, diamond, and precious stone inventories required for handcrafted bridal and luxury lines, access to liquid working capital remains vital to support scaling production.
Furthermore, an additional Rs 65 crore will be deployed to repay or pre-pay outstanding financial borrowings from scheduled commercial banks. Parings of corporate liabilities are expected to lower total interest costs significantly and optimize the company's debt-to-equity ratios, which stood at 1.29 by the end of fiscal year 2025. The remaining balance of the fresh issuance will be utilized for general corporate purposes and brand development initiatives.
Operations, Portfolio, and Financial Position
Founded in 2019, Advit Jewels manages its core manufacturing operations within a specialized 6,450-square-foot facility in Jaipur. The industrial unit houses in-house fabrication technologies, including 3D printers, precision casting machinery, and automated polishing installations. This complete vertical integration enables the group to manage the entire processing cycle internally—from gold melting and raw gemstone setting to final structural inspection.
The jewellery maker specializes in handcrafted traditional and contemporary statement lines, specifically focusing on Kundan, Polki, diamond-studded, and customized high-value couture pieces sold under the "Rambhajo" brand footprint. While approximately 81.63% of the firm's top-line revenue is driven by a business-to-business (B2B) model supplying national showrooms and regional retailers, the firm is expanding its business-to-consumer (B2C) footprint via a flagship retail showroom currently under construction in Jaipur.
Financially, the firm has posted consistent upward trajectories. For the nine-month period ending December 31, 2025, Advit Jewels recorded revenue from operations of Rs 1,237.9 crore, yielding an operational net profit after tax (PAT) of Rs 254.4 crore.
Official Sources Section
All specific details regarding capital allocation, the underwriting structure, and corporate operational timelines have been sourced directly from the Red Herring Prospectus (RHP) filed with the Securities and Exchange Board of India (SEBI). Market notifications regarding the formal price bands were distributed to the investor relations counters at BSE Limited and the National Stock Exchange of India Limited.
Quote Section
According to official administrative statements included in the red herring prospectus and public notifications issued by the company:
"The proceeds from its fresh issue worth Rs 65 crore will be for funding incremental working capital requirements of the company, Rs 65 crore for repayment/pre-payment, in full or in part, of certain outstanding borrowings availed, and general corporate purposes."
Why It Matters
The public listing of Advit Jewels offers retail investors a direct opportunity to participate in India’s shifting luxury retail market, where market share is steadily moving away from unorganized family operations toward standardized, corporate brands.
For institutional market observers, the financial performance of this issue will serve as a key indicator of liquidity and risk appetite within consumer retail stocks. Successful capital generation will enable the brand to reduce interest expenses and optimize its capital structure, placing it in a stronger position to compete against listed industry peers like RBZ Jewellers and Radhika Jeweltech.
Key Facts at a Glance
Price Band Allocation: Fixed at a range of Rs 130 to Rs 138 per equity share.
Total Issue Valuation: Targets an overall capital raise of Rs 165.16 crore solely through a fresh issue.
Subscription Window: Bidding opens to the public on June 23, 2026, and concludes on June 25, 2026.
Debt Optimization Plan: Rs 65 crore of the total proceeds will be directed toward bank loan repayments to lower structural leverage.
Anchor Allotment Window: Bidding protocols for institutional anchor networks are scheduled to open on June 22, 2026.
FAQ Section
What is the exact price band for the Advit Jewels IPO?
The price band has been officially fixed between Rs 130 and Rs 138 per equity share, featuring a face value of Rs 10 per share.
How does the company intend to utilize the capital raised from the public issue?
The capital will be divided equally, with Rs 65 crore allocated to fund working capital requirements and another Rs 65 crore dedicated to paring down outstanding bank loans, with the remaining balance covering general corporate costs.
Is there an offer-for-sale (OFS) segment in this public issue?
No. The public offer is structured entirely as a fresh issue of 1.19 crore shares, meaning all proceeds flow directly to the company's balance sheet rather than exiting promoters.
Which entities are managing the public offering?
Holani Consultants Private Limited is serving as the sole book-running lead manager for the transaction, while Bigshare Services Private Limited has been appointed as the official registrar.
Source: Official Red Herring Prospectus (RHP) and listing notifications filed by Advit Jewels Limited with the Securities and Exchange Board of India and public exchange boards.
