Image Source: Bazaar Gyaan
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:
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Issue Size: ₹15.39 crore (16.20 lakh shares, fully fresh issue)
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Price Band: ₹90–₹95 per share
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Lot Size: 1,200 shares (retail investment: ₹1,08,000–₹1,14,000)
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Subscription Window: June 23–26, 2025
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Listing Date: July 1, 2025 (BSE SME)
Investor Interest:
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Anchor investors have already committed ₹4.30 crore, subscribing to 4.52 lakh shares ahead of the IPO.
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Grey Market Premium (GMP) stands at ₹9, indicating a ~9% premium over the upper band, with an expected listing price around ₹104.
Share Allocation:
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Retail Investors: 33.48% (5.42 lakh shares)
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QIBs: 18.74% (3.03 lakh shares)
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NIIs: 14.67% (2.37 lakh shares)
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Anchor Investors: 27.93% (4.52 lakh shares)
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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:
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Purchase of new equipment (₹2.63 crore)
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Debt repayment (₹8.90 crore)
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General corporate purposes
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Lead Manager & Registrar:
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Smart Horizon Capital Advisors (Lead Manager)
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Bigshare Services (Registrar)
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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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