AJC Jewel Manufacturers IPO booked 2.82x so far on the fourth bidding day. Check GMP, other key details

AJC Jewel Manufacturers IPO commenced on Monday, June 23, and will conclude on Thursday, June 26. AJC Jewel Manufacturers IPO price band has been set between ₹90 and ₹95 per equity share, each with a face value of ₹10. Investors can place bids for a minimum of 1,200 equity shares and in multiples of 1,200 shares thereafter.

AJC Jewel Manufacturers Limited operates in the jewelry manufacturing industry, specializing in the creation of bracelets, bangles, rings, earrings, necklaces, and anklets suitable for all genders and age groups.

The company fabricates finished gold jewelry from raw bullion and supplies, offering a wide variety of designs for men, women, and children, which are sold to dealers, retail showrooms, corporate clients, and small outlets. Based in a rented manufacturing space of 21,780.76 Sq. Ft. in Malappuram, the company is outfitted with advanced machinery including 3D printers, casting equipment, and polishing tools to facilitate efficient jewelry production.

AJC Jewel Manufacturers Limited produces plain gold, studded gold, customized gold, and rose gold jewelry, such as rings, pendants, chains, necklaces, anklets, bracelets, bangles, and earrings, available in both 22K and 18K for men, women, and children.

AJC Jewel Manufacturers IPO Subscription Status

AJC Jewel Manufacturers IPO subscription status is 2.82 times on day 4, so far. The retail portion was subscribed 2.84 times, and NII portion was booked 1.79 times. Qualified Institutional Buyers (QIBs) is subscribed 3.57 times.

The company has received bids for 30,50,400 shares against 10,83,600 shares on offer, at 16:48 IST, according to data on chittorgarh.com

AJC Jewel Manufacturers IPO subscription status was 20% on day 1, and the issue was booked 36% on the second bidding day. The issue was subscribed 67% on the third bidding day. 

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 plans to utilise the net proceeds from the offering for various purposes, such as funding capital investments for purchasing new equipment for the company, clearing or paying off a portion of the company's current debts, and addressing general corporate needs.

Smart Horizon Capital Advisors Private Limited acts as the lead manager for the AJC Jewel IPO, while Bigshare Services Pvt Ltd is designated as the registrar for the issue. Rikhav Securities Limited functions as the market maker for the AJC Jewel IPO.

AJC Jewel Manufacturers IPO GMP today

AJC Jewel Manufacturers IPO GMP today is +4. This indicates AJC Jewel Manufacturers share price was trading at a premium of ₹4 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 ₹99 apiece, which is 4.21% higher than the IPO price of ₹95.

According to the grey market trends observed over the past 11 sessions, today's IPO GMP is trending upwards, indicating a robust listing. The minimum GMP recorded is ₹0.00, while the maximum is ₹9, as noted by experts from investorgain.com.

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

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.