Upcoming IPO: AJC Jewel Manufacturers IPO opens on June 23; issue price band set at ₹90-95 apiece; check GMP

Upcoming IPO: AJC Jewel Manufacturers IPO will open for subscription on Monday, June 23, and close on Thursday, June 26. AJC Jewel Manufacturers IPO price band has been fixed in the range of ₹90 to ₹95 per equity share of face value of ₹10 each. Bids can be made for a minimum of 1,200 equity shares and in multiples of 1,200 equity shares thereafter.

AJC Jewel Manufacturers Limited is involved in the jewelry manufacturing sector, focusing on creating bracelets, bangles, rings, earrings, necklaces, and anklets for all genders and ages.

The company produces finished gold jewelry using raw bullion and supplies, providing a diverse range of designs for men, women, and children, which it sells to dealers, retail showrooms, corporate clients, and small shops.

Operating from a leased manufacturing facility of 21,780.76 Sq. Ft. in Malappuram, the company is equipped with cutting-edge machinery such as 3D printers, casting machines, and polishing tools to ensure efficient jewelry production. AJC Jewel Manufacturers Limited creates plain gold, studded gold, named gold, and rose gold jewelry, including rings, pendants, chains, necklaces, anklets, bracelets, bangles, and earrings, available in both 22K and 18K for men, women, and children.

AJC Jewel Manufacturers IPO details

AJC Jewel Manufacturers IPO consists of a fresh issue of 15,36,000 equity shares, aggregating to ₹14.59 crore. There's no offer for sale (OFS) component.

The AJC Jewel IPO intends to use the net proceeds from the Issue for several purposes, including financing capital expenditures for the acquisition of new equipment by the company; settling or paying off all or some of the company’s existing borrowings; and for general corporate needs.

Smart Horizon Capital Advisors Private Limited is the primary manager for the AJC Jewel IPO, whereas Bigshare Services Pvt Ltd serves as the issue's registrar. The market maker for the AJC Jewel IPO is Rikhav Securities Limited.

AJC Jewel Manufacturers IPO GMP today

AJC Jewel Manufacturers IPO GMP today is +9. This indicates AJC Jewel Manufacturers share price was trading at a premium of ₹9 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of AJC Jewel Manufacturers share price is indicated at ₹104 apiece, which is 9.47% higher than the IPO price of ₹95.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.