Advit Jewels IPO 2.3x subscribed on Day 1; GMP signals 47% listing gains. Should you subscribe?

Jaipur’s Advit Jewels IPO is off to a flying start, oversubscribed 2.3 times on Day 1, with strong retail investor interest. The grey market signals a potential 47% listing gain. The Rs 165 crore issue will fund working capital and debt repayment. The handcrafted jewellery maker, operating under the Rambhajo brand, aims for a July 1 stock market debut.