AJC Jewel IPO
Open SmeCurrent GMP
₹4 (+4.21%)
Price Band
₹ 90 – 95
Lot Size
1200
Issue Size
₹15.39 Cr
Minimum Investment
₹228000 (2400 Shares)
Listing Date
01 July 2025
Subscription
2.91x
About the Company
Established in 2018, AJC Jewel Manufacturers is a gold jewellery manufacturing company specializing in wholesale production.
Promoters:
- Mr. Ashraf P (Managing key business operations)
- Mr. Kunhimohamed P
- Ms. Fathima Jasna Kottekkattu
Business Activities
AJC Jewel Manufacturers Limited specializes in the design and wholesale manufacturing of gold jewellery, catering to dealers, showrooms, corporates, and small jewellery shops. The company focuses on three main product categories:
- Plain Gold Jewellery – 33.45% of revenue (as of Dec 31, 2024)
- Studded Gold Jewellery (with Cubic Zirconia or colored stones) – 42.12%
- Named Jewellery (customized with names) – 6.34%
Jewellery is available in 22K and 18K gold, including yellow gold, rose gold, and personalized designs. The company serves men, women, and children, offering a wide range of products such as:
- Anklets, Bangles, Bracelets
- Earrings, Necklaces, Nose Pins
- Pendants, Rings
- Custom name jewellery (e.g., Name Bracelets, Pendants)
Operations & Facility
- Location: Manufacturing facility at Inkel Greens Edu City, Malappuram
- Area: 21,780.76 sq. ft. (leased)
- Infrastructure: Equipped with 3D printers, casting machines, wax injectors, and polishing equipment
- Design Team: In-house CAD designers and freelance designers
- Quality Control: 4-person QC/QA team ensures quality across the production chain
Sales & Distribution
- Operates on a wholesale model across PAN India
- Dedicated sales manager and customer relationship executives manage dealer relationships and marketing
- Sales are largely B2B, with rare retail orders being hallmarked via authorized centers
Procurement & Materials
- Procures raw gold (bullion) from DGFT-nominated agencies (e.g., Axis Bank, HDFC Bank) and local bullion dealers
- Occasionally procures used gold from individuals
- Also sells raw gold and services, though infrequently, and classifies it under manufacturing income
Key Strengths
- Strong in-house design capabilities and customization
- Diverse portfolio serving multiple market segments (mid and value)
- Quality assurance at every production stage
- Ability to handle bulk orders for wholesale clients
Promoters
- Mr. Ashraf P
- Mr. Kunhimohamed P
- Ms. Fathima Jasna Kottekattu
Promoters Holding
Holding Pre Issue
76.85%
Holding Post Issue
56.33%
Objects of the Issue
The Company AJC Jewel IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
- Funding of capital expenditure requirements for purchase of new Equipment by the Company
- Repayment/prepayment of all or certain of the borrowings availed of by the Company
- General corporate purposes
Address / Contact Info
AJC Jewel Manufacturers Limited
38/227-Z, Inkel Greens Edu City,
Karathode-Konampara Road, Panakkad Village,
Pattarkadavu, Malappuram, Ernad,
Malappuram, Kerala, 676519
Phone: +91 9567916106
Email: investors@ajcjewel.com
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Monday, 23 June 2025
IPO Close Date
Thursday, 26 June 2025
Basis of Allotment
Friday, 27 June 2025
Initiation of Refunds
Monday, 30 June 2025
Credit of Shares to Demat
Monday, 30 June 2025
Listing Date
Tuesday, 01 July 2025 — NSE & BSE
Important Dates
Open Date
23 June 2025
Close Date
26 June 2025
Basis Of Allotment
27 June 2025
Listing Date
01 July 2025
Financial Performance (₹ in Crores)
| Particular | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 34.28 | 36.73 | 36 | 16.42 |
| Revenue | 175.53 | 246.84 | 194.25 | 127.4 |
| Profit After Tax | 1.85 | 3.32 | 2.04 | 1.26 |
| Net Worth | 13.9 | 12.04 | 7.12 | 5.08 |
| Reserve & Surplus | 9.45 | 7.6 | 4.28 | 2.24 |
| Total Borrowings | 18.41 | 22.48 | 26.23 | 6.61 |
EPS Pre
7.46%
EPS Post
4.07%
P/E Pre
12.73
P/E (Post Issue)
23.33x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI as of Sun, Mar 31, 2024. |
|---|---|
| ROE % | 34.64 |
| ROCE % | 17.47 |
| Debt / Equity | 1.87 |
| RoNW % | 27.56 |
| PbW | 0 |
| Pat Margin % | 1.35 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 303600 | 28.02 | 0 |
| Non-Institutional | 237600 | 21.93 | 0 |
| Retail Investors | 542400 | 50.07 | 0 |
| Total | 1083600 | 100 | 0 |
Subscription Status ( Thu, 26 Jun 25 01:27 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 303600 | 1083600 | 3.57x |
| Non-Institutional | 237600 | 510000 | 2.15x |
| Retail Investors | 542400 | 1555200 | 2.87x |
| Total | 1083600 | 3148800 | 2.91x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 228,000.00 |
| Retail (Max) | 2 | 2,400 | 228,000.00 |
| S-HNI (Min) | 3 | 3,600 | 342,000.00 |
Registrar
Bigshare Services Pvt Ltd
91-22-6263 8200
investor@bigshareonline.com
https://www.bigshareonline.com
Book Running Lead Managers
- Smart Horizon Capital Advisors Private Limited
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
AJC Jewel IPO is a Book-building IPO worth ₹15.39 crores. The price band is ₹90 to 95 per share. The IPO opens on Mon, Jun 23, 2025 and closes on Thu, Jun 26, 2025. It will be listed on BSE and NSE. Bigshare Services Pvt Ltd is the registrar.
The AJC Jewel IPO opens on Mon, Jun 23, 2025 and closes on Thu, Jun 26, 2025
AJC Jewel IPO Price Band is ₹90 to 95.
AJC Jewel IPO lot size is 1200, and the minimum amount required for application is ₹228000.
The minimum investment for AJC Jewel IPO is approximately ₹228000 based on the upper price band.
To apply for the AJC Jewel IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Thu, Jun 26, 2025. After submission, funds are blocked until the basis of allotment of AJC Jewel IPO is finalised.
AJC Jewel IPO issue size is ₹15.39 crores.
AJC Jewel IPO allotment date is Sat, Jun 27, 2026.
The registrar for AJC Jewel IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website for IPO allotment status, refund processing, and other queries related to AJC Jewel IPO through their official website or helpline.
The AJC Jewel IPO GMP (Grey Market Premium) is ₹4 as of Tue, Jul 1, 2025. Based on the upper price band of ₹95 per share, the estimated AJC Jewel IPO listing price is ₹99, indicating a potential listing gain of approximately 31% over the issue price.