Advit Jewels IPO Allotment Date: Will You Get Shares After Massive 212x Subscription? Check Latest GMP

Advit Jewels IPO allotment is the next big thing investors are waiting for after the public issue received an overwhelming response in the market.

The Advit Jewels IPO, which closed for subscription on June 25 was subscribed over 212 times overall, and became one of the most successful mainboard IPOs of the month.

Now that the bidding process is over, investors are now looking forward to the Advit Jewels IPO allotment status given the Advit Jewels IPO GMP today crossed Rs. 45. Advit Jewels IPO listing is scheduled for next month and the expected listing gains is around 32%. The Jaipur-based jewellery company, which operates under the Rambhajo brand, is looking to raise Rs. 165.16 crore through its public issue.

Advit Jewels IPO Allotment Date

The Advit Jewels IPO allotment is expected to be finalised on June 29th. Investors who applied for the Advit Jewels IPO will be able to check their IPO allotment status after the basis of allotment is completed. In case shares are not allotted, refunds and fund unblocking are expected on June 30 while successful applicants are likely to receive shares in their demat accounts the same day. The Advit Jewels IPO listing date has been fixed as July 1st.

Advit Jewels IPO Subscription Status

The Advit Jewels IPO subscription status is highlighted currently. By the close of bidding on Day 3, the Advit Jewels IPO was subscribed more than 212 times across all investor categories.The IPO received healthy demand from retail investors who booked it 95.3 times, the non-institutional investors and qualified institutional buyers subscribed the IPO 536.38 & 174.98 times, respectively.

Advit Jewels IPO GMP Today

The Advit Jewels IPO GMP today is strong in the grey market. According to Investorgain, the Grey Market Premium (GMP) is currently around Rs. 45 per share, although it had climbed to nearly Rs. 64-Rs.65 during the subscription period. Based on the current Advit Jewels IPO GMP, the stock is expected to list at a premium of around 32.61% over its issue price.

Advit Jewels IPO Price Band and Issue Size

The Advit Jewels IPO price band was fixed at Rs. 130 to Rs.138 per equity share. The company is raising Rs. 165.16 crore entirely through a fresh issue. The minimum lot size for the Advit Jewels IPO was 100 shares, requiring a minimum retail investment of Rs. 13,800 at the upper end of the price band.

Bigshare Services Pvt. Ltd. is the official registrar for the Advit Jewels IPO.

About Advit Jewels

Advit Jewels Limited is a Jaipur-based jewellery manufacturer known for its premium handcrafted jewellery sold under the Rambhajo brand. The company designs and manufactures kundan jewellery, polki jewellery, diamond jewellery and studded jewellery, serving customers across India. The company's registered office is located in Jaipur, Rajasthan.

According to the company's DRHP, the proceeds from the Advit Jewels IPO will primarily be used to improve its business operations. Around Rs. 65 crore will be utilised to meet working capital requirements, another Rs. 65 crore will be used for repayment or prepayment of borrowings, while the remaining proceeds will be allocated towards general corporate purposes.