Advit Jewels launches ₹165.20cr IPO priced ₹130-₹138, retail minimum 35%
Advit Jewels, known for making and selling jewelry, just kicked off its initial public offering (IPO) to raise ₹165.20 crore.
The offer is open from Tuesday to Thursday, with shares priced between ₹130-₹138 each.
Investors can buy in through three categories: big institutions can get up to 50%, non-institutional investors get not less than 15%, and regular retail buyers get not less than 35%.
₹49.52cr raised from anchor investors
Before the IPO launched, Advit Jewels raised ₹49.52 crore from anchor investors like Holani Venture Capital Fund and Taurus Mutual Fund.
Most of the funds will go toward working capital and paying off loans (each getting ₹65 crore), with some set aside for general corporate needs.
Financially, things are looking up: PAT grew at a CAGR of 56.3% over FY23-25, and revenue CAGR was 63.7% over FY23-25, reflecting strong growth prospects.