AJC Jewel Manufacturers IPO sees muted start; subscription at 10%, GMP 9%

AJC Jewel Manufacturers IPO Day 1 update: The SME issue received bids for 93,600 shares compared to 10,83,600 shares on offer

AJC Jewel Manufacturers IPO Day 1 update, subscription status: The initial public offering (IPO) of jewellery manufacturer AJC Jewel has received a muted response from investors on the first day of its subscription. 

 

According to data available on the National Stock Exchange (NSE), the AJC Jewel IPO received bids for 93,600 shares compared to 10,83,600 shares on offer, resulting in a subscription rate of only 9 per cent till 2:30 PM on Monday, June 23, 2025. 

AJC Jewel Manufacturers grey market premium (GMP)

On Monday, the unlisted shares of AJC Jewel were trading at ₹104, commanding a grey market premium (GMP) of ₹9 or 9.5 per cent compared to the upper price band of ₹95, according to sources tracking unofficial market activities. 

AJC Jewel Manufacturer IPO details

The four-day bidding window will close on Thursday, June 26, 2025. The basis of allotment of shares is likely to be finalised on Friday, June 27, 2025. Shares of AJC Jewel Manufacturer will be listed on the BSE SME platform tentatively on Tuesday, July 1, 2025.

 

The price band for AJC Jewel IPO is set in the range of ₹90 to ₹95 per equity share. Retail investors would require a minimum investment amount of ₹2,28,000 to bid for one lot comprising 1,200 shares (taking into consideration the upper price band). The minimum investment required for high net-worth individuals (HNIs) is 3 lots (3,600 shares) amounting to ₹3,42,000.

 

Bigshare Services is the registrar for the issue. Smart Horizon Capital Advisors is the sole book-running lead manager. 

 

According to the red herring prospectus (RHP), the company plans to use the net issue proceeds to purchase new equipment and repayment or prepayment of all or certain of the borrowings availed by the company. The remaining funds will be used for general corporate purposes. 

About AJC Jewel Manufacturers

AJB Jewel Manufacturers is engaged in the business of manufacturing and designing a wide range of wholesale Gold Jewelleries which includes plain gold, studded and named jewelleries available in 22 karat and 18 karat. It manufactures the finished gold jewellery from the raw gold i.e. bullions and required consumables and sells it to dealers, showrooms, corporates and small jewellery shops in wholesale quantities. The company has a gold jewellery manufacturing facility situated at Inkel Greens Edu City, Malappuram.