Jaipur-based Advit Jewels Ltd.has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO).
The offer, with a face value of Rs 10 per equity share, comprises a fresh issue of up to 1.38 crore equity shares. The proceeds from the fresh issuance will be utilized as follows — Rs 65 crore for funding incremental working capital requirements, Rs 65 crore for repayment or pre-payment, in full or in part, of certain outstanding borrowings availed from scheduled commercial banks, and the balance for general corporate purposes.
The issue will be made through the book-building process, in accordance with SEBI ICDR Regulations, with up to 50% reserved for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and at least 35% for Retail Individual Investors (RIIs).
The company, in consultation with the book-running lead managers, may consider a pre-IPO placement of up to 18.32 lakh shares. If such placement is completed, the size of the fresh issue will be reduced accordingly.
Incorporated in 2019, the company is located in the heart of India’s gemstone and jewellery hub, Jaipur, Rajasthan. It is engaged in the manufacturing and selling of traditional and contemporary handcrafted fine jewellery under the brand name Rambhajo, specializing in Kundan, Polki, diamond, and studded pieces. With deep-rooted expertise in craftsmanship and an understanding of evolving customer tastes, the company combines traditional methods with contemporary designs to create jewellery that is both timeless and relevant.
Advit Jewels’ core strength lies in design innovation and customization, offering clients the flexibility to tailor jewellery to their preferences, cultural significance, and market trends. Its offerings include necklaces, earrings, rings, bangles, and customized jewellery pieces crafted primarily in gold, diamonds, and coloured stones. The company is particularly renowned for its Kundan and Polki work.
The company continuously innovates by blending various art forms from across the world. Each design is unique and not repeated, created in either 14-carat or 18-carat gold based on customer preference. It primarily operates on a B2B model, catering to dealers, showrooms, and jewellery retailers, while also serving B2C customers with exclusive, made-to-order pieces.
Its manufacturing unit, located in Jaipur with a built-up area of 6,450 sq. ft., operates on leased premises maintained by the company. The facility follows strict safety standards and is equipped with modern machinery such as 3D printers, casting units, and polishing machines. The setup is designed to handle the complete production cycle under one roof, from raw gold processing to final finishing, ensuring operational efficiency, quality control, and shorter lead times.
The entire jewellery-making process, including melting, sheet and chain making, stone setting, polishing, and quality inspection, is conducted in-house by skilled artisans trained over generations. The typical turnaround time for customized or high-value orders ranges from 25 to 30 days. The company takes pride in producing 100% handmade jewellery, with artisans who expertly blend diverse art forms to create masterpieces.
A dedicated team of four personnel oversees quality control, monitoring parameters such as design accuracy, gold purity, polish, and product dimensions. Each piece undergoes multiple levels of inspection and is dispatched only after approval from the QC supervisor. This stringent process ensures the company consistently meets and exceeds client expectations, upholding its reputation for exceptional craftsmanship. The company has a pan-India presence.
During FY25, Advit Jewels reported revenue from operations of Rs 124.9 crore, compared to Rs 46.6 crore in FY23. Its net profit stood at Rs 25.36 crore in FY25, against Rs 10.38 crore in FY23.
Holani Consultants Private Limited is the Book Running Lead Manager to the issue, and Bigshare Services Private Limited is the registrar. The equity shares are proposed to be listed on the BSE and NSE.
