Advit Jewels IPO Opens June 23, Plans 30 Rambhajo Stores In 3 Years Across India

New Delhi: Advit Jewels Ltd has announced plans to strengthen its retail business by opening 30 showrooms under its Rambhajo brand over the next three years.

The Jaipur-based jewellery company said the expansion will help increase its presence in the fast-growing consumer jewellery market.

The retail expansion will be partly funded through proceeds from the company’s upcoming initial public offering (IPO).

IPO Opens On June 23

Advit Jewels’ maiden IPO will open for subscription on June 23 and close on June 25.

The company has fixed a price band of Rs 130 to Rs 138 per share.

The public issue consists entirely of a fresh issue of 1.19 crore shares, aiming to raise around Rs 165.15 crore.

The company said the IPO proceeds will support future expansion and strengthen its balance sheet.

Funds To Be Used For Growth

Out of the total IPO proceeds, Rs 65 crore will be used for debt repayment.

Another Rs 65 crore will be used for working capital requirements.

The remaining funds will be used for opening new retail showrooms across India.

The company believes this investment will support long-term growth.

Focus On Young Consumers

Chairman and Managing Director Nitin Gilara said the company will initially focus on northern India before expanding to southern markets.

Its first flagship store in Jaipur is expected to open by October-November 2026.

Future stores will mainly follow a franchise model.

The retail business will target millennials and Gen Z consumers, especially those looking for lightweight jewellery.

Strong Financial Performance

Advit Jewels manufactures traditional and modern jewellery, including Kundan, Polki, diamond and studded jewellery.

For the nine months ended December 2025, the company reported revenue of Rs 123.79 crore and net profit of Rs 25.44 crore.

After listing, promoters are expected to retain around 70 percent stake in the company.