Advit Jewels IPO: Files Papers with SEBI

New Delhi, Oct 6 (PTI) Advit Jewels has filed draft papers with capital markets regulator Sebi to mobilise funds through its maiden public offering.

The Jaipur-based company's proposed IPO is a completely fresh issue of 1.38 crore equity shares with no Offer For Sale (OFS) component.

Proceeds from the public issue worth Rs 65 crore will be utilised for working capital requirements of the company, another Rs 65 crore for payment of debt and the rest for general corporate purposes, according to the Draft Red Herring Prospectus (DRHP) dated September 30.

Incorporated in 2019, the company is a manufacturer and seller of traditional and contemporary handcrafted fine jewellery, specialising in Kundan, Polki, diamond and studded pieces. Its brand name is Rambhajo.

The company's revenue from operations was Rs 125 crore and its net profit of Rs 25.36 crore during FY25.

To assist the public offering, Holani Consultants has been appointed as the book-running lead manager. The equity shares are proposed to be listed on BSE and NSE.