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AJC Jewel Manufacturers IPO

  • Status: Closed
  • RHP:
  • ₹ 108,000 / 1200 shares

    Minimum Investment

IPO Details

  • Open Date

    23 Jun 2025

  • Close Date

    26 Jun 2025

  • Listing Date

    01 Jul 2025

  • IPO Price Range

    ₹ 90 to ₹95

  • IPO Size

    ₹ 14.59 Cr

  • Listing Exchange

    BSE SME

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Timeline Subscription Status Financials SWOT FAQ Contacts

IPO Timeline

AJC Jewel Manufacturers IPO Subscription Status

Last Updated: 26 June 2025 6:05 PM by 5paisa

Incorporated in 2018, AJC Jewel Manufacturers Limited is a jewellery manufacturing company specialising in creating bracelets, bangles, rings, earrings, necklaces, and anklets for men, women, and children. The company manufactures finished gold jewellery from raw bullion and consumables, offering both plain and designer collections, including studded, rose gold, and named gold jewellery in 22K and 18K varieties.
Operating from a 21,780.76 sq. ft. leased facility in Malappuram, AJC Jewel leverages advanced production equipment like 3D printers, casting, and polishing machinery. Their clientele includes dealers, showrooms, corporate buyers, and small retailers across India.

Established in: 2018
Managing Director: Mr. Ashraf P

Peers

Sky Gold Ltd
Patdiam Jewellery Ltd
 

Objectives

The company plans to utilise the net IPO proceeds towards:

Funding capital expenditure for the purchase of new equipment
Repayment/prepayment of existing borrowings
General corporate purposes
 

AJC Jewel Manufacturers IPO Size

Types Size
Total IPO Size ₹14.59 Cr
Offer For Sale -
Fresh Issue ₹14.59 Cr

 

AJC Jewel Manufacturers IPO Lot Size

Application Lots Shares Amount
Retail (Min) 2 2,400 ₹2,16,000
Retail (Max) 2 2,400 ₹2,16,000
HNI (Min) 3 3,600 ₹3,24,000

AJC Jewel Manufacturers IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)*
QIB 3.57 3,03,600 10,83,600 10.294
NII (HNI) 1.79 2,37,600 4,26,000 4.047
Retail 2.86 5,42,400 15,50,400 14.729
Total** 2.82 10,83,600 30,60,000     29.070

 

*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY22 FY23 FY24
Revenue 127.40 194.25 246.84
EBITDA 2.14 3.94 5.40
PAT 1.26 2.04 3.32
Particulars (in Rs. Crores)] FY22 FY23 FY24
Total Assets 6.61 26.23 22.48
Share Capital 2.84 2.84 4.45
Total Borrowings 16.42 36.00 36.73
Particulars (in Rs. Crores FY22 FY23 FY24
Net Cash Generated From / (used in) operating activities -3.97 -15.64 5.52
Net Cash Generated From / (used in) investing activities -0.13 -2.52 -0.67
Net Cash Generated From / (used in) financing activities 3.86 18.71 -3.73
Net Increase (Decrease) In Cash And Cash Equivalents -0.24 0.55 1.12


Strengths

1. Extensive product range covering men, women, and children
2. Advanced design and manufacturing capabilities under one roof
3. Experienced promoters and skilled workforce
4. Long-standing relationships with reputed jewellery dealers


 

Weaknesses

1. Increasing borrowings, although partially being addressed through IPO proceeds
2. High working capital requirements are typical of the jewellery segment
3. Relatively young company with evolving market positioning
4. Regulatory and Compliance Issues


 

Opportunities

1. Rising demand for branded and customised gold jewellery
2. Scope for expansion into new domestic markets
3. Possibility to launch direct-to-consumer sales channels
4. Favourable trends in gifting culture and festive demand
 

Threats

1. Fluctuating gold prices are affecting margins
2. Regulatory changes in gold import and hallmarking standards
3. Competitive pressure from organised and unorganised players
4. Macroeconomic volatility impacting discretionary spending
 

1. Niche player in the gold jewellery manufacturing sector with growing revenues
2. Fully integrated and organised production facility with skilled personnel
3. Transparent IPO structure with a fresh issue-only model
4. Strategic utilisation of proceeds to reduce debt and scale operations
5. Anchor investor confidence adds strength to issue outlook
 

1. The Indian jewellery market continues to grow steadily, driven by rising disposable income and cultural demand.
2. Increasing trend towards branded, certified, and contemporary designs.
3. Technology-led manufacturing provides an edge in quality and efficiency.
4. Expanding e-commerce presence and tier-2/3 market penetration further support growth.
 

Will You Apply for AJC Jewel Manufacturers IPO?

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FAQs

AJC Jewel IPO opens on June 23, 2025 and closes on June 26, 2025.
 

AJC Jewel’s IPO size is ₹14.59 crores via a fresh issue of 15.36 lakh shares.
 

 AJC Jewel’s IPO price band is fixed between ₹90 and ₹95 per share.
 

To apply for AJC Jewel IPO, follow the steps given below:

  • Login to your 5paisa account and select the issue in the current IPO section.
  • Enter the number of lots and the price at which you wish to apply for the AJC Jewel IPO.
  • Enter your UPI ID and click on submit. Your bid will be placed with the exchange.

You will receive a mandate request in your UPI app to block funds.
 

The minimum lot size AJC Jewel IPO of is 1,200 shares, with a minimum investment of ₹1,08,000.
 

The allotment date of AJC Jewel IPO is expected to be finalised on June 27, 2025.
 

The tentative listing date of AJC Jewel IPO is July 1, 2025, on the BSE SME platform.
 

Smart Horizon Capital Advisors Private Limited is the book-running lead manager. 
 

AJC Jewel intends to utilise the IPO proceeds towards:

Purchase of new machinery for capital expansion
Repayment of existing borrowings
General corporate purposes