Advit Jewels’ initial public offering has attracted intense investor interest, with the issue subscribed 44.16 times by the close of the third and final day of bidding.
The surge in demand was led by qualified institutional buyers (QIBs), who drove the oversubscription ratio significantly higher than the 20.24 times recorded at the end of the previous session.
Market participants are now eyeing a potential listing gain, with grey market premiums (GMP) hinting at a 38% pop on debut.
The Jaipur-based jewellery manufacturer priced its equity shares in a band of ₹130 to ₹138 for the ₹165.20 crore fresh issue.
Market participants are now eyeing a potential listing gain, with grey market premiums (GMP) hinting at a 38% pop on debut.
This pricing signal suggests strong aftermarket confidence, although actual listing performance will depend on final allotment ratios and broader market sentiment on the listing date.
The IPO, which opened on June 23, is scheduled to list on the stock exchanges on July 1.