Ravelcare IPO booked 7x on Day 1; strong retail demand, GMP at 40%

Ravelcare IPO received bids for 9.22 million equity shares compared to the issue size of 1.32 million shares

Ravelcare IPO subscription status Day 1: The initial public offering (IPO) of digital-first beauty and personal care (BPC) brand Ravelcare opened for subscription on Monday, December 1, 2025. The SME public issue is receiving an overwhelming response from investors, as the issue was fully subscribed within a few hours after opening. The issue was subscribed around 6.94 times at 2:15 PM on Monday, according to data from the BSE. 

 

The issue received bids for 9.22 million equity shares compared to the issue size of 1.32 million shares. The demand was primarily driven by retail investors who subscribed to the allotted quota by 8.7 times, followed by non-institutional buyers (NIIs) at 7.32 times. However, the qualified institutional buyers' (QIBs) portion was booked around 3.5 times.  

 

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Ravelcare IPO GMP

On Monday, the unlisted shares of Ravelcare were trading at ₹182, commanding a premium of ₹52 or 40 per cent compared to the upper end of the price band of ₹123 to ₹130, according to sources tracking unofficial markets.

Ravelcare IPO details

The three-day subscription window for the maiden public offering will close on Wednesday, December 3, 2025. The basis of allotment of shares is likely to be finalised on Thursday, December 4, 2025. Shares of Ravelcare will be listed on the BSE SME platform tentatively on Monday, December 8, 2025.

 

Ravelcare IPO, worth ₹24.1 crore, comprises a fresh issue of 1.9 million equity shares. There is no offer for sale (OFS) component. 

 

The company has reserved not more than 50 per cent of the net offer for qualified institutional buyers (QIBs), not less than 35 per cent for retail investors, and not less than 15 per cent for non-institutional investors (NIIs).

 

Ravelcare has set the price band in the range of ₹123 to ₹130 per share. Retail investors would require a minimum investment amount of ₹260,000 shares to bid for at least two lots comprising 2,000 shares.  

 

Kfin Technologies is the registrar for the public offering, while Marwadi Chandrana Intermediaries is the sole book-running lead manager.

 

According to the red herring prospectus (RHP), the company plans to utilise ₹11.5 crore from the net issue proceeds for marketing and advertisement expenses toward enhancing the awareness and visibility of the brand, and ₹7.84 crore for setting up a new manufacturing facility located at Mauje-Peth in Amravati. The remaining funds will be used for general corporate purposes.