Advit Jewels IPO oversubscribed 212 times before BSE, NSE listings
Business
Advit Jewels just pulled off a massive IPO win, oversubscribed by 212 times!
Investors were seriously excited, with NIIs leading at 536 times, QIBs at 175 times, and retail folks jumping in at over 95 times.
The company is set to list on BSE and NSE.
Advit shares priced ₹130-₹138, GMP ₹190
Shares were priced between ₹130 and ₹138, and retail investors needed at least ₹13,800 for a lot of 100 shares.
Advit Jewels plans to use the money mainly for working capital and paying down debt.
The gray market premium suggested a possible listing price of ₹190, about 38% higher than the top price band, so there's plenty of buzz around its growth potential in the jewelry space.