Advit Jewels Ltd shares opened sharply higher on Indian exchanges on Tuesday, listing at ₹188.90 on the National Stock Exchange (NSE) and ₹187 on the Bombay Stock Exchange (BSE).
The debut prices represent a premium of roughly 37% over the issue price, reflecting intense investor interest in the company's initial public offering.
The surge in demand was led by qualified institutional buyers, with the issue subscribed 44.16 times by the close of the third and final day of bidding.
This level of oversubscription underscores the market's confidence in the jeweler's growth prospects and brand positioning within India's fragmented jewelry sector.
The successful listing highlights the continued strength of India's IPO market, particularly for consumer-facing companies with established retail networks.
Investors are closely watching how the premium holds in subsequent trading sessions as the stock finds its fair value in the secondary market.