Advit Jewels Ltd has seen its initial public offering subscription surge to 20.24 times the issue size by the close of the second day of bidding.
The Jaipur-based jewellery manufacturer, which priced its shares between ₹130 and ₹138, is tracking for a significant oversubscription as the three-day window closes on 25 June.
The momentum marks a sharp acceleration from the first day, when the issue was fully subscribed with an overall subscription of 11.28 times.
The rapid uptake across investor categories suggests robust retail and institutional interest in the ₹165.20 crore fresh issue.
Market participants are closely watching the final subscription figures to gauge the potential listing gain.
Shares are expected to list on 1 July, providing a near-term catalyst for the company's valuation.