IPO-bound Advit Jewels plans 30 retail showrooms under the Rambhajo brand in 3 years

Advit Jewels Ltd has announced plans to expand its business-to-consumer (B2C) presence by opening 30 retail showrooms under the ‘Rambhajo’ brand over the next three years, funded partly through proceeds from its upcoming initial public offering (IPO). Jaipur-based company’s maiden IPO opens for subscription on June 23 and closes on June 25.

The company has fixed a price band of Rs 130-138 per share for the public offer. The IPO comprises an entirely fresh issue of 1.19 crore shares, aggregating to Rs 165.15 crore. This expansion, under the ‘Rambhajo’ brand, will be partly funded by the company’s upcoming initial public offering. The first showroom is expected to open in Jaipur by October-November.

“Without disturbing our B2B presence, we plan to expand our consumer-facing business with 30 retail showrooms across India in the next three years,” Chairman and Managing Director Nitin Gilara said at a press conference”. Without disturbing our B2B presence, we plan to expand our consumer-facing business with 30 retail showrooms across India in the next three years,” said Chairman and Managing Director Nitin Gilara.