Advit Jewels Aims to Raise ₹130 Crore in Maiden IPO
Jaipur-based Advit Jewels has filed draft papers with SEBI for an IPO to raise ₹130 crore through a fresh issue of 1.38 crore equity shares. The company, known for its Rambhajo brand of handcrafted jewellery, plans to allocate ₹65 crore each for working capital requirements and debt payment. Incorporated in 2019, Advit Jewels specializes in Kundan, Polki, Diamond, and Studded jewellery. The company reported revenue from operations of ₹125 crore and a net profit of ₹25.36 crore. The IPO will be managed by Holani Consultants, with listings planned on both BSE and NSE.
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Jaipur-based Advit Jewels has taken a significant step towards going public by filing draft papers with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The company, known for its traditional and contemporary handcrafted fine jewellery under the brand name Rambhajo, is looking to raise ₹130 crore through a fresh issue of 1.38 crore equity shares.
IPO Details
| Particulars | Details |
|---|---|
| Issue Type | Fresh Issue |
| Number of Shares | 1.38 crore equity shares |
| Total Fund Raise | ₹130 crore |
| Offer For Sale | None |
| Lead Manager | Holani Consultants |
| Listing | BSE and NSE |
Fund Allocation
The funds raised through the IPO are earmarked for specific purposes:
| Purpose | Amount (in ₹ crore) |
|---|---|
| Working Capital Requirements | 65.00 |
| Debt Payment | 65.00 |
| General Corporate Purposes | Remaining balance |
Company Overview
Advit Jewels, incorporated in 2019, has quickly established itself in the jewellery market. The company specializes in manufacturing and selling a range of jewellery pieces:
- Kundan
- Polki
- Diamond
- Studded jewellery
Financial Performance
Advit Jewels reported the following financial results:
| Metric | Amount (in ₹ crore) |
|---|---|
| Revenue from Operations | 125.00 |
| Net Profit | 25.36 |
This financial performance demonstrates the company's strong position in the market and its potential for growth.
Market Impact
The entry of Advit Jewels into the public market is likely to attract attention from investors interested in the jewellery sector. As a relatively young company with a focus on both traditional and contemporary designs, Advit Jewels represents an interesting opportunity in the luxury goods market.
Investors and market watchers will be keen to see how the company utilizes the funds raised from the IPO, particularly in terms of expanding its working capital and reducing debt. These strategic moves could potentially strengthen the company's market position and fuel future growth.
As the IPO process moves forward, potential investors should carefully review the company's prospectus and financial statements to make informed decisions. The jewellery market in India is competitive and subject to changing consumer preferences, making it essential for companies like Advit Jewels to maintain innovation and market relevance.
With its listing on both BSE and NSE, Advit Jewels is set to gain broader market exposure, which could enhance its brand visibility and potentially open up new avenues for growth in the dynamic Indian jewellery market.
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