AJC Jewel IPO Opens On June 23: Offer Size, Price Band, GMP And Other Key Details
Investors can bid for shares of AJC Jewel Manufacturers Ltd. during the IPO subscription from June 23 to June 26.
Jewellery maker AJC Jewel Manufacturers Ltd is scheduled to launch its initial public offering (IPO) next week to raise over Rs 14 crore from the primary market.
The BSE SME issue will open for subscription on June 23.
Investors should check the key details about the AJC Jewel IPO before applying for shares.
AJC Jewel IPO: Offer Size, Price Band And Other Key Details
The AJC Jewel IPO is a book-building issue worth Rs 14.59 crore. The SME public offer comprises only a fresh issue of 15.36 lakh shares.
The price band for the IPO has been fixed between Rs 90 and Rs 95 per share.
Retail investors can invest in the IPO by bidding for at least two lots of 2,400 shares, amounting to a minimum investment of Rs 2,28,000. For High Net-Worth Individuals (HNI), the minimum application size is three lots, or 3,600 shares, aggregating to an investment of Rs 3,42,000.
The company has set aside 3,03,600 (18.74%) shares for the Qualified Institutional Buyers (QIBs) and 2,37,600 (14.67%) shares for the Non-Institutional Investors (NIIs). The retail quota of the IPO comprises 5,42,400 (33.48%) shares. The company allocated 4,52,400 (27.93%) shares to anchor investors. The market maker portion of the IPO comprised 84,000 (5.19%) shares.
Smart Horizon Capital Advisors Pvt. is the book-running lead manager of the AJC Jewel IPO. Bigshare Services Pvt. is the issue registrar and Rikhav Securities Ltd. is the market maker.
AJC Jewel IPO Dates
AJC Jewel IPO subscription will remain open from June 23 to June 26. The allotment of shares is scheduled to be finalised on June 27. The company is expected to transfer the shares to the Demat accounts and process refunds on June 30.
The AJC Jewel IPO listing date has been tentatively scheduled for July 1. Shares of the company will be listed on the BSE SME platform.
AJC Jewel IPO GMP Today
The grey market premium for the AJC Jewel IPO was Rs 9 as of 9:01 a.m. on June 21, according to InvestorGain. Shares of the company are expected to be listed at Rs 104 apiece at a premium of 9.47% compared to the upper limit of the price band, as per the latest GMP.
Note: GMP does not represent official data and is based on speculation.
AJC Jewel Business And Financials
The company manufactures jewellery such as bracelets, earrings and necklaces, among others. The Kerala-based company was incorporated in 2018. AJC Jewel also manufactures plain gold, studded gold and rose gold jewellery.
Use Of Proceeds
The company has proposed to use proceeds from the IPO to buy new equipment, repay borrowings and for general corporate purposes.
Financials
The company reported a 62.7% year-on-year rise in profit after tax (PAT) to Rs 3.32 crore in FY24 from Rs 2.04 crore in FY23. Total revenue increased 27% YoY to Rs 246.84 crore in FY24 from Rs 194.25 crore in FY23.
For the period ended Dec. 31, 2024, PAT stood at Rs 1.85 crore and total revenue at Rs 175.53 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
