An IPO is being launched on the BSE SME platform, aiming to raise funds through a book-built issue. The offering includes up to 16.50 lakh equity shares of face value ₹10 each.
🏭 Company Overview
Operating in the wholesale and manufacturing of gold jewellery sector, the business specializes in plain, studded, rose gold, and customized jewellery designs.
The journey began in 1999 as a retail outlet, later expanding into a full-fledged manufacturing operation by 2014, and formally incorporated in 2018.
The modern 15,000 sq. ft. factory located in Kerala employs over 100 skilled workers. Products include a variety of gold jewellery set with cubic zirconia and coloured stones, supplied to dealers, retailers, corporates, and small businesses.
Lot Size & Investment Details
| Appy as | Price Band | Lot Size | Share | Appy Upto |
| Retail (Min) | ₹90 – ₹95 | 1 lot | 1,200 shares | ₹1,14,000 |
| Retail (Max) | ₹90 – ₹95 | 1 lot | 1,200 shares | ₹1,14,000 (Retail limit) |
| S-HNI (Min) | ₹90 – ₹95 | 2 lot | 2,400 shares | ₹2,28,000 |
📊 Financial Highlights
| Financial Year | Revenue (₹ Cr) | Net Profit (₹ Cr) |
|---|---|---|
| FY 2022–23 | 194.25 | 1.99 |
| FY 2023–24 | 246.84 | 3.24 |
📦 Issue Structure
- Equity Offer: Up to 16.50 lakh equity shares of face value ₹10 each
- Market Maker Reservation: A portion of shares reserved to ensure trading liquidity
- Price Band: To be finalized in consultation with the Book Running Lead Manager (BRLM) (not yet disclosed)
- Issue Type: Book-built SME IPO on BSE SME
- BRLM: Smart Horizon Capital Advisors Pvt Ltd
- Registrar: Bigshare Services Private Limited
⚠️ Risks
- Pricing & allotment uncertainty, as price band and lot size are yet undisclosed
- SME IPO constraints: potential post-listing volatility and lower liquidity
- Jewel sector cycles: susceptible to gold price fluctuations and discretionary consumer demand
📝 Summary
AJC Jewel’s IPO is a SME book-built offering aimed at funding expansion, debt repayment, and working capital. With a legacy rooted in craftsmanship and a growing revenue trajectory, it offers a structured entry into manufacturing-focused small caps — subject to careful evaluation of final pricing and market demand.
