Priyanka Tiwari
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Suspense crime, Digital Desk : Kerala-based AJC Jewellers is set to enter the public market with its Initial Public Offering (IPO) scheduled to open next week. The company aims to raise ₹8.10 crore through this public issue, which will be listed on the National Stock Exchange's Small and Medium Enterprises (SME) platform.
The subscription window for the IPO will open on Tuesday, July 2, 2024, and close on Thursday, July 4, 2024.
This IPO is a fixed-price issue, with the company setting the share price at ₹27 per share. The entire offering consists of a fresh issue of 3,000,000 equity shares, meaning all proceeds will go directly to the company to fund its growth plans.
For retail investors, the IPO is being offered in a fixed lot size.
Key IPO Details:
Lot Size: 4,000 shares
Minimum Investment: ₹1,08,000 (4,000 shares x ₹27 per share)
Total Issue Size: ₹8.10 crore
Listing Platform: NSE SME
About the Company
Headquartered in Thrissur, Kerala—a city often called the "Gold Capital of India"—AJC Jewellers specializes in the manufacturing and trading of a wide variety of gold jewelry. The company operates in both wholesale and retail markets, offering an extensive collection of chains, bangles, rings, necklaces, and other ornaments.
The funds raised from the IPO are primarily intended to be used for the company's working capital requirements and for general corporate purposes, helping it scale its operations.
Investors interested in the SME segment have a new opportunity to consider with this offering from the jewelry sector. The allotment of shares is expected to be finalized by July 5, with the company's shares tentatively scheduled to be listed on the NSE SME platform on July 9, 2024.
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