AJC Jewel Manufacturers IPO Day 3: Retail Portion Oversubscribed, Overall Subscription at 0.75 Times
By Ankur Chandra | Published at: Jun 25, 2025 06:06 PM IST
Mumbai, June 25, 2025 : The AJC Jewel Manufacturers IPO continued to see strong retail interest on Day 3, as the retail category was fully subscribed with an overall issue coverage of 0.75 times. The ₹11.09 crore issue, comprising 11,67,600 equity shares, opened on June 23 and will close on June 26, 2025.
IPO Snapshot
| Detail | Information |
|---|---|
| Security Type | Equity |
| Symbol | AJCJEWEL |
| Issue Period | June 23 – June 26, 2025 |
| Issue Size | 11,67,600 Equity Shares |
| Price Band | ₹90 – ₹95 per share |
| Face Value | ₹10 per share |
| Market Lot | 1,200 shares |
| Minimum Bid Quantity | 2,400 shares |
| Maximum Bid (QIB) | 10,83,600 shares |
| Maximum Bid (NII) | 7,80,000 shares |
| Tick Size | ₹1 |
| Eligible Categories | FI, IC, MF, FII, OTH, CO, IND, NOH |
| UPI Enabled For | IND |
| Listing Platform | BSE SME |
Day 3 Subscription Status (as of 5:00 PM, June 25)
| Investor Category | Shares Offered | Bids Received | Subscription (x) |
|---|---|---|---|
| Qualified Institutional Buyers | 3,03,600 | – | 0.00 |
| Non-Institutional Investors | 3,21,600 | 1,29,600 | 0.26 |
| Retail Individual Investors | 5,42,400 | 6,84,000 | 1.26 |
| Total | 10,83,600 | 8,13,600 | 0.75 |
The retail category, backed by strong demand, exceeded its reserved quota, while QIB participation remains absent as of Day 3. The NII portion showed moderate activity.
Price-Wise Bid Distribution
| Bid Price (₹) | Shares Bid For |
|---|---|
| 90.00 | 8,13,600 |
| 92.00 | 7,84,800 |
| 93.00 | 7,77,600 |
| 94.00 | 7,75,200 |
| 95.00 | 7,72,800 |
The majority of the bids are concentrated at the floor price of ₹90, highlighting cautious investor sentiment.
Lead Manager and Registrar
- Book Running Lead Manager: Smart Horizon Capital Advisors Pvt Ltd
- Registrar: Bigshare Services Pvt Ltd
Outlook: With one day left in the bidding window, the final subscription push particularly from institutional investors will be critical. The full picture will emerge by the close on June 26, determining whether the issue clears comfortably or remains undersubscribed in key segments.
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