Glittering Debut: AJC Jewel Manufacturers IPO Opens for Subscription with Strong Anchor Backing

Unknown Apr 02, 2026 1,000 Views

AJC Jewel Manufacturers Ltd, a Kerala-based gold jewellery manufacturer, opened its much-anticipated SME IPO for public subscription today, June 23, 2025. The issue aims to raise up to ₹15.39 crore through a wholly fresh issue of 16.20 lakh equity shares, with a price band set at ₹90–₹95 per share. The IPO will remain open until June 26, with allotment finalization expected on June 27 and listing scheduled for July 1 on the BSE SME platform.

IPO Details:

Issue Size: ₹15.39 crore (16.20 lakh shares, fully fresh issue)
Price Band: ₹90–₹95 per share
Lot Size: 1,200 shares (retail investment: ₹1,08,000–₹1,14,000)
Subscription Window: June 23–26, 2025
Listing Date: July 1, 2025 (BSE SME)

Investor Interest:

Anchor investors have already committed ₹4.30 crore, subscribing to 4.52 lakh shares ahead of the IPO.
Grey Market Premium (GMP) stands at ₹9, indicating a ~9% premium over the upper band, with an expected listing price around ₹104.

Share Allocation:

Retail Investors: 33.48% (5.42 lakh shares)
QIBs: 18.74% (3.03 lakh shares)
NIIs: 14.67% (2.37 lakh shares)
Anchor Investors: 27.93% (4.52 lakh shares)
Market Maker: 5.19% (84,000 shares)

Company Profile:

Established in 2018, AJC Jewel designs and manufactures a wide range of gold jewellery, including bangles, rings, earrings, bracelets, and necklaces in both 22K and 18K variants.

FY24 financials: Revenue of ₹246.84 crore, net profit of ₹3.32 crore.

Use of Proceeds:

Purchase of new equipment (₹2.63 crore)
Debt repayment (₹8.90 crore)
General corporate purposes
Lead Manager & Registrar:
Smart Horizon Capital Advisors (Lead Manager)
Bigshare Services (Registrar)
Rikhav Securities (Market Maker)

Why This IPO Stands Out

AJC Jewel’s IPO is attracting attention due to its robust anchor backing, healthy financials, and a reasonable premium in the grey market. The company’s strong presence in the gold jewellery segment and clear use of funds for expansion and debt reduction position it as a notable SME listing this week.

Source: The Economic Times, NDTV Profit, Finowings, Goodreturns, Moneycontrol

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