Advit Jewels' initial public offering closed with a final subscription multiple of 213 times, marking a sharp acceleration in investor appetite on the last day of bidding.
The issue, which was fully booked on its first day, saw demand swell from 149 times earlier in the final session to the closing figure, driven by robust participation across all investor categories.
Market sentiment ahead of listing appears bullish, with the grey market premium (GMP) indicating a potential 38% premium over the issue price.
The offering comprises 1.20 crore shares priced in the band of ₹130 to ₹138, aiming to raise ₹165.16 crore.
Proceeds are earmarked for working capital requirements and the repayment of existing debt.
The surge in subscriptions was particularly pronounced in the Qualified Institutional Buyer (QIB) and Non-Institutional Investor (NII) portions, signaling broad-based confidence in the jeweler's market positioning.
Market sentiment ahead of listing appears bullish, with the grey market premium (GMP) indicating a potential 38% premium over the issue price.