Advit Jewels Ltd IPO
Diamond, Gems and Jewellery
Price Band
₹130 – ₹138
Lot Size
100
Minimum Bid Quantity
100
Minimum Investment
₹13800
Issue Size
₹165.16Cr
Opens
2026-06-23
Closes
2026-06-25
Listing
01-07-2026
Subscription Status
Qualified Institutional Buyers
174.98 x
Non-Institutional Investor
534.91 x
Retail Individual Investor
91.81 x
Total
210.57 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE1SJO01012
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Advit Jewels Limited is engaged in the manufacturing and sale of handcrafted gold jewellery. The company specialises in Kundan, Polki, diamond-studded, and other fine jewellery products, catering primarily to dealers, showrooms, jewellery retailers, and select individual customers. Its product portfolio includes necklaces, earrings, rings, bangles, pendant sets, bracelets, and customised jewellery pieces made using gold, polki diamonds, and coloured stones. The company operates a manufacturing facility in Jaipur, Rajasthan, with a built-up area of approximately 6,450 sq. ft. on leased premises. The facility is equipped with machinery such as 3D printers, casting units, and polishing machines, enabling the company to undertake the entire jewellery production process in-house, from raw material processing to final finishing. Advit Jewels also operates under the “Rambhajo” brand and has a display centre in Jaipur for showcasing its jewellery designs and products.
Pros
- • The company claims to operate an integrated jewellery manufacturing facility in Jaipur, Rajasthan, where the entire production process is carried out in-house. Its facility, spread across approximately 6,450 sq. ft., is equipped with machinery such as 3D printers, casting units, laser cutting and engraving systems, enabling it to undertake manufacturing from design development to final finishing under one roof.
- • Advit Jewels specialises in handcrafted Kundan and Polki jewellery and claims to have a portfolio of over 2,000 jewellery designs as of March 31, 2025. The company follows a customised manufacturing approach, allowing products to be tailored according to customer preferences rather than relying on standardised collections.
- • The company derives its business from the “Rambhajo” brand, which traces its roots to a jewellery business established in Jaipur in 1921. This provides it with a long operating legacy in the Kundan, Polki, and bridal jewellery segment.
Cons
- • The company’s cost of material consumption is heavily concentrated in gold, diamond polki, and precious & semi-precious stones, which together accounted for 99.85%, 99.66%, 99.95%, and 99.76% of total material costs for the period ended December 31, 2025, and FY25, FY24, and FY23, respectively. Gold alone contributed Rs 61.79 crore, Rs 109.73 crore, Rs 55.63 crore, and Rs 27.59 crore to raw material consumption during these periods. Non-availability of these raw materials, large fluctuations in their prices, or the inability to procure them on favourable terms could adversely affect its production schedules, profit margins, and overall financial performance. The risk is further heightened as the company procures raw materials largely on a spot basis and does not have long-term supply agreements with its suppliers.
- • The company has witnessed a sharp increase in inventory levels, which rose from Rs 10.42 crore in FY23 to Rs 44.92 crore in FY24 and further to Rs 107.24 crore in FY25. Inventory holding days increased from 91 days in FY23 to 199 days in FY25. Any inability to efficiently manage these high inventory levels could lead to increased carrying costs, inventory write-downs, working capital pressures, and liquidity constraints. The company also faces the risk of slow-moving or obsolete inventory due to changing jewellery design trends, fluctuations in gold and gemstone prices, and errors in demand forecasting, which could adversely affect its profitability and financial condition.
- • The company’s operations are highly concentrated in Jaipur, Rajasthan, where its sole manufacturing facility is located. Additionally, suppliers based in Jaipur accounted for 80.56%, 77.32%, 73.09%, and 18.18% of total raw material purchases in FY23, FY24, FY25, and the period ended December 31, 2025, respectively, while Jaipur accounted for 42.00%, 19.44%, 27.29%, and 35.55% of revenue from operations during the same periods. Any adverse political, economic, social, or natural developments in Jaipur or surrounding regions could negatively impact the company’s manufacturing operations, raw material procurement, and sales. Since the company does not have an alternative manufacturing facility outside Jaipur, any prolonged disruption could result in production delays, higher costs, supply chain disruptions, and loss of business opportunities, adversely affecting its financial performance.
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