Advit Jewels files draft papers with SEBI for IPO
The company's proposed IPO is a completely fresh issue of 1.38 crore equity shares with no OFS component
Advit Jewels has filed draft papers with capital markets regulator Securities and Exchange Board of India (SEBI) to mobilise funds through its maiden public offering. The 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. 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.
Advit Jewels 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.
