Allotment today

AJC Jewel Manufacturers Limited IPO

AJC Jewel Manufacturers Limited is a Kerala-based jewelry manufacturing company with roots dating back to 1999, when it started as a small retail outlet in Malappuram. In 2014, the company expanded into manufacturing under the name Vismaya Gold, and by 2018, it rebranded as AJC Jewel Manufacturers, setting up a modern 15,000 sq ft facility at Inkel Industrial Park in Malappuram to support larger-scale production.

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Min Investment

₹2,28,000

Lot Size

1,200 Shares

Price Range

₹95.0

Issue Size (₹ Cr.)

₹15.39

IPO Type

BSE SME

Key Metrics

Face Value

₹ 10

GMP

₹ 4.0

Subscription

2.82x

EPS

₹ 4.07

P/E Ratio

23.33 x

RoNW

27.56%

ROE

34.64%

Debt to Equity (₹ Cr.)

1.87

Timeline

IPO Opened23/06/2025Monday

IPO Closed26/06/2025Thursday

AllotmentToday

Refund30/06/2025Monday

Listing01/07/2025Tuesday

Strengths

Established Brand Presence in South India With over two decades of experience and a strong reputation in Kerala and Tamil Nadu, AJC has developed a loyal customer base and trusted dealer network across key regional markets.
Diverse Product Range The company offers a wide selection of gold jewelry, including custom-designed pieces such as name pendants, traditional ornaments, bangles, earrings, and bridal sets, catering to a variety of tastes and demographics.
Modern Manufacturing Facility AJC operates a dedicated 15,000 sq. ft. factory in Malappuram with advanced equipment and skilled artisans, allowing efficient production and consistent quality across product lines.
In-House Design and R&D Capabilities The company benefits from its own creative design team and R&D support, enabling frequent product innovation and rapid response to market trends and festive demands.
Strong Dealer and Wholesale Network AJC distributes its products through a network of showrooms, dealers, and wholesalers, helping the brand maintain a steady sales pipeline and reach end customers efficiently.

Weaknesses

Geographically Concentrated Operations The company’s focus is mainly on Kerala and Tamil Nadu, limiting its market reach across India.
Small Operational Scale With a single manufacturing facility, AJC may struggle to fulfill large-volume or nationwide demand.
High Working Capital Needs Jewelry manufacturing requires significant investment in gold and inventory, straining cash flow.
Intense Industry Competition The gold jewelry market is crowded, with strong competition from both organized players and local artisans.
Limited Brand Recognition Outside Region While well-known locally, AJC lacks brand visibility in larger metro and northern markets.