AJC Jewel Manufacturers IPO

AJC Jewel Manufacturers Limited is a jewellery manufacturing company known for its craftsmanship and quality. AJC Jewel Manufacturers Limited designs and manufactures a wide range of gold jewellery for dealers, showrooms, and small-scale retailers. Its 21,780.76 sq. ft. leased facility at Inkel Greens Edu City, Malappuram, is equipped with modern machinery like 3D printers, wax injectors, and casting machines. The company offers plain gold, studded gold with Cubic Zircon or coloured stones, and named gold customised with engravings. Jewellery is crafted in 22K (91.67% pure) and 18K (75% pure) gold, with Rose Gold available exclusively in 18K. AJC caters to both bulk and personalised orders, focusing on quality and design precision.

AJC Jewel Manufacturers Limited IPO Overview

AJC Jewel IPO is a book-built issue worth ₹14.59 crores, comprising a fresh issue of 15.36 lakh equity shares. The IPO opens for subscription on June 23, 2025, and will close on June 26, 2025. The allotment of shares is likely to be finalised on June 27, 2025, with the tentative listing date on the BSE SME platform scheduled for July 1, 2025. The price band for the IPO is set between ₹90 to ₹95 per share.

Retail investors are required to apply for a minimum lot size of 1,200 shares, translating to an investment of ₹1,08,000. However, to increase the chances of allotment in case of oversubscription, it is advisable to bid at the cutoff price, which amounts to approximately ₹2,28,000. For HNIs, the minimum investment is 3 lots (3,600 shares), which totals ₹3,42,000.

Smart Horizon Capital Advisors Private Limited is the book-running lead manager for the IPO, while Bigshare Services Pvt Ltd will act as the registrar. Rikhav Securities Limited has been appointed as the market maker for this issue.

AJC Jewel Manufacturers Limited IPO Details

Particulars	Details
IPO Date	23 June 2025 to 26 June 2025
Listing Date	1 July 2025
Face Value	₹10 per share
Issue Price Band	₹90 to ₹95 per share
Lot Size	1200 Shares
Total Issue Size	15,36,000 shares (aggregating up to ₹14.59 Cr)
Fresh Issue	15,36,000 shares (aggregating up to ₹14.59 Cr)
Offer for Sale	NA
Issue Type	Bookbuilding IPO
Listing At	BSE SME
Share Holding Pre Issue	44,48,360 shares
Share Holding Post Issue	59,84,360 shares
Market Maker Portion	84,000 shares

AJC Jewel Manufacturers Limited IPO Reservation

• Total Shares Offered: 16,20,000 shares (100%)

• Market Maker Shares Offered: 84,000 shares (5.19%)

• Qualified Institutional Buyers (QIB): 7,56,000 shares (46.67%)

• Anchor Investors: 4,52,400 shares (27.93%)

• QIB (Excluding Anchor): 3,03,600 shares (18.74%)

• Non-Institutional Investors (NII/HNI): 2,37,600 shares (14.67%)

• Retail Individual Investors (RII): 5,42,400 shares (33.48%)

AJC Jewel IPO Anchor Investors Details

• Anchor Portion Size: ₹4.30 crore

• Anchor Shares Offered: 4,52,400

• Anchor Bid Date: June 20, 2025

• Lock-in Period End Date for 50% Shares (30 Days): July 27, 2025
• Lock-in Period End Date for Remaining Shares (90 Days): September 25, 2025

 AJC Jewel Manufacturers Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	2400	₹2,28,000
Retail (Max)	2	2400	₹2,28,000
HNI (Min)	3	3600	₹3,42,000

AJC Jewel Manufacturers Limited IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	76.85
Post-Issue	56.33

AJC Jewel Manufacturers Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	8.24
Price/Earnings (P/E) Ratio	TBD
Return on Net Worth (RoNW)	27.56%
Net Asset Value (NAV)	29.88
Return on Equity	34.64%
Return on Capital Employed (ROCE)	17.47%
EBITDA Margin	2.19%
PAT Margin	1.35%
Debt to Equity Ratio	1.87

Objectives of the Proceeds

• Funding of capital expenditure requirements for purchase of new Equipment by our Company, ₹262.55 lakhs

• Repayment/prepayment of all or certain of our borrowings availed of by our Company ₹890.00 lakhs

• Meet general corporate expenses

Key Financials (in ₹ lakhs)

Particulars	31 Dec 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	3428.35	3672.71	3599.92	1642.33
Revenue	17,504.76	24,588.99	19,418.14	12,739.10
Profit After Tax	249.67	442.39	285.68	174.89
Reserves and Surplus	944.90	759.58	427.64	223.75
Total Borrowings	1841.40	2248.30	2623.39	660.61