AJC Jewel IPO
GMP, Subscription, Price, Dates & Financial Details
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 PMs. Fathima Jasna KottekkattuBusiness ActivitiesAJC Jewel Manufacturers Limited…
Open Date
Mon, 23 Jun 2025
Close Date
Thu, 26 Jun 2025
Price Band
₹ 90 – 95
Lot Size
1200
Issue Size
₹ 15.39 Cr
Minimum Investment
₹ 228,000 (2400 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
AJC Jewel IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹15.39 Crore, comprising a fresh issue of 16.20 Lakh equity shares aggregating to ₹15.39 Crore.
The AJC Jewel IPO remained open for subscription from June 23, 2025, to June 26, 2025. The basis of allotment was finalized on June 27, 2025, and the company's shares were listed on BSE SME Platform on July 01, 2025.
The company had fixed the price band at ₹90 to ₹95 per share, with a lot size of 1200 shares. Retail investors were required to make a minimum investment of ₹228,000 (based on the upper price band) to apply for one lot.
Bigshare Services Pvt Ltd served as the registrar to the issue. Smart Horizon Capital Advisors Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, AJC Jewel Manufacturers Limited is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
AJC Jewel IPO Timeline (Tentative)
- IPO Open Date
- Mon, 23 Jun 25
- IPO Close Date
- Thu, 26 Jun 25
- Basis of Allotment
- Fri, 27 Jun 25
- Initiation of Refunds
- Mon, 30 Jun 25
- Credit of Shares to Demat
- Mon, 30 Jun 25
- Listing Date
- Tue, 01 Jul 25 — NSE & BSE
Open Date
23 June 2025
Close Date
26 June 2025
Basis Of Allotment
27 June 2025
Listing Date
01 July 2025
IPO Subscription
Check Live Subscription →The AJC Jewel IPO has received bids for 31,48,800 shares against 10,83,600 shares offered, resulting in an overall subscription of 2.91x. the NII category is subscribed 2.15x, Retail Investors 2.87x, and QIBs 3.57x.
QIB
3.57x
NII
2.15x
RII
2.87x
Total
2.91x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 5,42,400 shares, representing 50.07% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 3,03,600 shares (28.02%), while Non-Institutional Investors (NIIs) receive 2,37,600 shares (21.93%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 303,600 | 28.02% |
| Non-Institutional | 237,600 | 21.93% |
| Retail Investors | 542,400 | 50.07% |
| Total | 1,083,600 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
AJC Jewel Manufacturers Limited KPI Information
| Particular | KPI as of Sun, Mar 31, 2024. |
|---|---|
| ROE % | 34.64 |
| ROCE % | 17.47 |
| Debt / Equity | 1.87 |
| RoNW % | 27.56 |
| Pat Margin % | 1.35 |
Peers Comparison
No Peer Comparision Available
About AJC Jewel Manufacturers Limited
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
AJC Jewel IPO Promoters
- Mr. Ashraf P
- Mr. Kunhimohamed P
- Ms. Fathima Jasna Kottekattu
Promoters Holding
Holding Pre Issue
76.85%
Holding Post Issue
56.33%
AJC Jewel IPO Objective
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
AJC Jewel Manufacturers Limited Address / Contact Details
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
AJC Jewel IPO Lot Size
The AJC Jewel IPO has a lot size of 1,200 shares. Retail investors require a minimum investment of ₹2,28,000 by applying for 2 lot (2,400 shares). The maximum application allowed for the retail category is 2 lots (2,400 shares), requiring an investment of ₹2,28,000.
| 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 |
Issue Reservation
- QIB — 28.02%
- NII — 21.93%
- RII — 50.07%
Book Running Lead Managers
- Smart Horizon Capital Advisors Private Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the AJC Jewel IPO?
AJC Jewel IPO is a Book-building IPO with a total issue size of ₹15.39 crore. The AJC Jewel IPO price band is ₹90 to 95 per share. The AJC Jewel IPO subscription opens on Mon, Jun 23, 2025, and closes on Thu, Jun 26, 2025. The AJC Jewel IPO will be listed on the BSE. Bigshare Services Pvt Ltd is the registrar for the AJC Jewel IPO.
When will the AJC Jewel IPO open for subscription?
The AJC Jewel IPO opens on Mon, Jun 23, 2025 and closes on Thu, Jun 26, 2025
What is AJC Jewel IPO Price Band?
AJC Jewel IPO Price Band is ₹90 to 95 per share.
What is AJC Jewel IPO Lot Size?
AJC Jewel IPO lot size is 1200 shares, Retail investors need a minimum investment of ₹228000 based on the upper price band
What is the minimum investment for AJC Jewel IPO?
The minimum investment for AJC Jewel IPO is ₹228000, based on one lot of 1200 shares at the upper price band of ₹95 per share.
How to apply for AJC Jewel IPO?
Investors can apply for the AJC Jewel IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Thu, Jun 26, 2025. The application amount remains blocked until the AJC Jewel IPO allotment is finalized.
What is AJC Jewel IPO Issue Size?
AJC Jewel IPO issue size is ₹15.39 crores.
What is the AJC Jewel IPO Allotment Date?
AJC Jewel IPO allotment date is Fri, Jun 27, 2025.
Who is the AJC Jewel IPO Registrar?
The registrar for AJC Jewel IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website to check AJC Jewel IPO allotment status, refund processing, and other IPO-related information.
What is the AJC Jewel IPO GMP?
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 4.21% over the issue price.
Who is the AJC Jewel IPO Lead Manager?
The book-running lead managers (BRLMs) for the AJC Jewel IPO are Smart Horizon Capital Advisors Private Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the AJC Jewel IPO Red Herring Prospectus (RHP).