Advit Jewels' initial public offering opened to robust demand on its first day of bidding, securing an overall subscription of 11.28 times the issue size.
The Jaipur-based jewellery manufacturer's ₹165.16 crore fresh issue attracted bids for 9.45 crore shares on June 23, signaling strong investor appetite in the consumer discretionary sector.
Retail investors were the primary drivers of the initial interest, with the retail segment receiving bids 27 times the available shares.
Non-institutional investors also contributed significantly to the opening day totals, while institutional participation remained to be seen as the book remains open.
The strong retail response suggests confidence in the company's brand positioning and growth trajectory in the organized jewellery market.
The IPO is priced within a band of ₹130 to ₹138 per share, with the bidding window scheduled to close on June 25.