Advit Jewels’ initial public offering has closed with overwhelming investor demand, ending its three-day subscription window oversubscribed 212.63 times.
The Jaipur-based jewellery manufacturer priced the issue at a band of ₹130-138 per share, with the company set to debut on Indian stock exchanges on July 1.
Grey market premiums (GMP) are signaling a strong listing day, suggesting the shares will open well above the upper price band.
This speculative pricing reflects the intense appetite for the issue, which saw a surge in interest from qualified institutional buyers and retail investors alike during the bidding period from June 23 to 25.
The final subscription figure of 212.63 times represents a significant escalation from earlier reports, which had placed the oversubscription at 44.16 times by the close of the third day.
This late-stage surge indicates that retail and high-net-worth investors were particularly active in the final hours of bidding, driving up the demand multiple.