AJC Jewel Manufacturers Ltd IPO
Status: Closed
Overview
IPO date
23 Jun 2025 to 26 Jun 2025
Face value
₹ 10 per share
Price
₹ 90 to ₹95 per share
Issue Size
1,620,000 shares
(aggregating up to ₹ 15.39 Cr)
(aggregating up to ₹ 15.39 Cr)
Allotment Date
27 Jun 2025
Listing at
NSE
Issue type
Book Building - SME
Sector
Diamond, Gems and Jewellery
Objectives of AJC Jewel Manufacturers Ltd IPO
Initial public offer of upto 16,20,000 equity shares of face value of Rs. 10/- each (the "Equity Shares") of AJC Jewel Manufacturers Limited ("the Company" or "AJC Jewel" or "the issuer") for cash at a price of Rs. 95 per equity share including a share premium of Rs. 85 per equity share (the "Issue Price") aggregating to Rs. 15.39 crores ("the Issue"), of which upto 84,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 95 per equity share including a share premium of Rs. 85 per equity share aggregating to Rs. 0.80 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e., net issue of upto 15,36,000 equity shares of face value of Rs. 10/- each at a price of
Rs. 95 per equity share including a share premium of Rs. 85 per equity share aggregating to Rs. 14.59 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 26.70 % and 25.31 % respectively of the post issue paid up equity share capital of the company.
AJC Jewel Manufacturers Ltd IPO Strategy
- Continue to invest in our manufacturing operations.
- Improving Debt - Equity Ratio.
- Adding new designs to our product portfolio.
- Increasing Operational efficiency.
About AJC Jewel Manufacturers Ltd
AJC Jewel Manufacturers Limited marked its footprints in year 2014, when one of the Promoter Mr. Ashraf P along with his father Mr. Kunhimohamed P jointly entered into manufacturing business of gold jewellery in the name and style as 'Vismaya Gold'. Company was established in the year 2018 vide Certificate of Incorporation dated March 23, 2018 as a Private Limited Company under the name 'Pheonix Gold Castings Private Limited' with Mr. Ashraf P and Mr. Kunhimohamed P as the initial subscribers of the Company. The Company changed its name to 'AJC Jewel Manufacturers Private Limited' dated May 14, 2020. Further, the name was changed to 'AJC Jewel Manufacturers Limited' pursuant to Conversion of Company from Private to Public vide Certificate of Incorporation dated September 24, 2024. Company is currently promoted by Mr. Ashraf P and Ms. Fathima Jasna Kottekkattu.
Company is primarily engaged in the business of manufacturing and designing the wide range of wholesale Gold Jewelleries which includes plain gold, studded and named jewelleries available in 22karat and rose gold jewelleries available in 18Karat. It manufacturers the finished gold jewelleries from raw gold i.e. bullions and required consumables and sell it to dealers, showrooms, corporates and small jewellery shops in wholesale quantities. It provide jewellery designs of plain gold, rose gold, the jewelleries studded with Cubic Zircon and coloured stones and named jewelleries customized and designed in detail, keeping in mind the customer's unique preferences and requirements. It further manufactures jewelleries for three categories of Individuals men, women and children.
Apart from this, the Company cater to a large number of local dealers, showrooms and small-scale jewellery shops who buy products in bulk quantities. It not provide hallmarking name services, Since, it deals in a wholesale industry. However, In few instances if the Company has received one of retail orders, then it gets the jewellery hallmarked from authorized centers. The Sales manager is responsible for generating inquiries, soliciting orders from dealers and conducting negotiations with them. They are also engaged in the marketing activities such as market research, information gathering, participating in exhibitions.
The Company is planning an Initial Public Offer upto 16,50,000 Fresh Issue of Equity Shares.
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T&C*
Strengths vs Risks of AJC Jewel Manufacturers Ltd
Know the pros & cons
Strengths
Wide product range, Design and Innovation in our product range.- Experienced Promoter and management team with proven execution capabilities and Skilled work force with contemporary designing capabilities.
- Long-standing relationship with reputed jewellery dealers.
- Organised manufacturing set-up under one roof.
Risks
- We depend on few suppliers for our raw materials required for our operations and we have not entered into any long term agreements and any delays, interruptions or reduction in the supply of raw materials to manufacture our products and any abrupt fluctuations in the prices of our raw materials may adversely affect the pricing of our products and may have an impact on our Business, Results of Operation, Financial Condition and Cash Flows.
- The Restated Financial Statements have been provided by Peer Reviewed Chartered Accountants who is not Statutory Auditor of the Company.
- The company faces significant competition in the Indian jewellery market, its risk losing substantial portion of its customers which will adversely affect its business, financial condition, results of operations and prospects.
- The company has in past entered into related party transactions and its may continue to do so in the future, which may affect the competitive edge.
- There are certain discrepancies/errors/delay filings noticed in some of its corporate records relating to forms filed with the Registrar of Companies, Ernakulam and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate or any other law could impact the financial position of the Company to that extent.
- The company obtain gold on loan basis known as gold metal Loan, which remains subject to RBI regulations. Any adverse change in the regulations governing gold on loan basis may adversely affect its financial condition and results of operations.
- Its inability to respond to changes in demands and market trends in a timely manner and failures to expand its product offering in a diversified manner may have an adverse effect on its business, results of operations and financial condition.
- The company has certain outstanding litigation against it, an adverse outcome of which may adversely affect its business, reputation and results of operations.
- The Company's manufacturing activities are labour intensive and depends on availability of labour. In case of unavailability of such labour, its business operations could be affected.
- The company intend to utilise a portion of the Net Proceeds for funding its Capital Expenditure for purchase of certain Equipment. The company is yet to place orders for such Capital Expenditure. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment in a timely manner, or at all, may result in time and cost over-runs and its business, prospects and results of operations may be adversely affected.
- The company propose to repay or prepay all or a portion of certain outstanding borrowings availed by the Company.
- If the company fails to convert existing customers into repeat customers or acquires new customers or fails to do so in a cost-effective manner, its may not be able to increase revenue or maintain profitability.
- The knowledge and experience of one of the present promoters of the Company is limited in manufacturing of Gold Jewellery Industry.
- The company generate certain portion of the sales from international market of which major portion of sales from its operations is generated from United Arab Emirates and majority portion of sales is from domestic market, any adverse developments affecting its operations in these regions could have an adverse impact on its revenue and results of operations.
- The company generate its major portion of sales from its operations in certain geographical regions especially, Kerala. Any adverse developments affecting its operations in these regions could have an adverse impact on its revenue and results of operations.
- There are certain discrepancies and non-compliances noticed in some of its financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities which may affect its revenue from operations.
- The average cost of acquisition of Equity Shares by its Promoters could be lower than the Price Band to be decided by the Company in consultation with the Book Running Lead Manager in accordance with the SEBI ICDR Regulations.
- Its promoter group entities and one of the Group Company is in the same line of business and consequently the interest of these entities and Company may be in conflict with the interest of the Company.
- The company derives a significant portion of its revenue from Studded Jewellery, Plain Gold Jewellery, Named Jewellery and Rose Gold Jewellery, any reduction in demand or in the production of such products could have an adverse effect on its business, results of operations and financial condition.
- A significant portion of its manufacturing work is done by CAD designers who work exclusively for it, any loss of the company designers or its inability to attract and retain them and other personnel with technical expertise could adversely affect its business, financial condition and results of operations.
- Its Registered Office and Manufacturing Facility both are situated at the same place and are not owned by it. In the event of any disruption of its rights as licensee/ lessee or termination of the agreements with its licensors/ lessors, its Business, Financial Condition and Results of Operations and Cash Flows could be adversely affected.
- Its existing manufacturing facility and registered office are concentrated in a single region i.e., Malappuram in the state of Kerela and therefore, any localized social unrest, natural disaster or breakdown of services or any other natural disaster in and around Kerela and the inability to operate and grow its business in this particular region may have an adverse effect on its business, financial condition, results of operations, cash flows and future business prospects.
- In case of its inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate its business it may have a material adverse effect on its business.
- Under-utilization of its existing manufacturing facility and an inability to effectively utilize its manufacturing capacities could have an adverse effect on its business, future prospects, and future financial performance.
- The seasonality of its business affects the company quarterly results and places an increased strain on its operations.
- The company has significant working capital requirements. If its experience insufficient cash flows from its operations or are unable to borrow to meet its working capital requirements, it may materially and adversely affect its business, cash flows and results of operations.
- One of its Promoter and Company Secretary and one of the independent director does not file ITR for any of the financial years.
- Its Promoter & Executive Director and Whole Time Director have completed intermediate education only, the disclosure with respect to their qualification is limited to the extent of the affidavit provided by them and the same is relied upon, there are no concrete back-ups which are made available or which may be made available in near future with respect to the said directors.
- Its ability to anticipate changes in Industry trends to meet customers' demands and any variations in the Government Regulations/policies or Technology Upgradation is a significant factor to remain competitive, any failures to identify and understand the trends may materially adversely affect its Business.
- Exchange rate fluctuations may materially and adversely affect its business, financial performance, cash flows and prospects as some portion of its revenues and expenditures are denominated in foreign currencies.
- Its success largely depends upon the knowledge and experience of its Promoters, Directors, Key Managerial Personnel and Senior Management as well as its ability to attract and retain personnel with technical expertise. Any loss of its Promoters, Directors, Key Managerial Personnel, Senior Management or its inability to attract and retain them and other personnel with technical expertise could adversely affect its business, financial condition and results of operations.
- The Company's logo and brand name "AJC Jewel" is currently not registered with Registrar of Trademark; any infringement of its logo and brand name or failures to get it registered may adversely affect its Business. Further, any kind of negative publicity or misuse of its logo and brand name could hamper its Goodwill and its future Growth Strategies could be adversely affected.
- The orders placed by customers may be delayed, modified or cancelled, which may have an adverse effect on its business, financial condition and results of operations.
- If the company fails to maintain an effective system of internal controls, its may not be able to successfully manage, or accurately report, its financial risks. Despite its internal control systems, its may be exposed to operational risks, including fraud, petty theft and embezzlement, which may adversely affect its reputation, business, financial condition, results of operations and cash flows.
- Its inability to effectively manage the company growth could have an adverse effect on its business, results of operations and financial condition.
- The company is subject to strict quality requirements and any product defects or any failures by it to comply with quality standards may lead to the cancellation of existing and future orders, product recalls and exposure to potential product liability claims, warranty claims and other disputes.
- The company has taken guarantees from its promoters in relation to Debt Facilities provided to it, in an event any of these persons withdraw or terminate its/their guarantees, the lender for such facilities may ask for alternate guarantees, repayment of amounts outstanding under such facilities, or even terminate such facilities.
- The company has incurred indebtedness. In addition, certain of its financing agreements involve variable interest rates and an increase in interest rates may adversely affect its results of operations and financial condition.
- In addition to normal remuneration, other benefits and reimbursement of expenses some of its directors (including its Promoters) are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- The company is dependent on third-party transportation providers for the supply of raw materials and finished products. Accordingly, continuing increases in transportation costs or unavailability of transportation services for them, as well the extent and reliability of Indian infrastructure may have an adverse effect on its business, financial condition, results of operations and prospects.
- Its inability to accurately forecast demand or price for its products and manage the company inventory may adversely affect its business, results of operations and financial condition.
- Failures or disruption of its information technology systems may adversely affect its business, financial condition, results of operations, cash flows and prospects. Also, its inability to meet the changes in technology or advancement requirements in its current manufacturing process, may render its current technologies obsolete or may requires additional investments which may have an adverse effect on the Business, financial condition and results of operations.
- Its funding requirements and proposed deployment of the Net Proceeds are based on management estimates and the company has not entered into any definitive arrangements to utilize the Net Proceeds of the Issue and the Objects have not been independently appraised by a bank or a financial institution. Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- Portion of its Issue Proceeds are proposed to be utilized for general corporate purposes which constitute [?] % of the Issue Proceed.
- The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
- Its business may expose it to potential product liability claims, which could adversely affect its results of operation, goodwill and the marketability of the company products.
- Employee misconduct including misuse of confidential data and failures to maintain confidentiality of information could harm it and is difficult to detect and deter.
- The company has significant power requirements and any disruption to power sources could increase its production costs and adversely affect its results of operations and cash flows.
- The company is subject to increasingly stringent environmental, health and safety laws, regulations and standards. Noncompliance with and adverse changes in health, safety, labour and environmental laws and other similar regulations to its manufacturing operations may adversely affect its business, results of operations and financial condition.
- Its may not be fully insured for all losses the company may incur.
- Its commercial success depends on the success of the company customer's products with end customers. Any decline in the demand for its customer's products would adversely impact the demand for its products.
- Its might infringe upon the intellectual property rights of others and may be susceptible to claims from third parties, affecting its operations and financial condition.
- The company is exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact its results of operations.
- The company has not commissioned an industry report for the disclosures made in the section titled `Industry Overview' and made disclosures on the basis of the data available on the internet and such data has not been independently verified by it.
- Its Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- Its ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
- The determination of the Price Band is based on various factors and assumptions and the Issue Price of the Equity Shares may not be indicative of the market price of the Equity Shares upon listing on the Stock Exchange.
- Significant differences exist between Indian GAAP and other accounting principles, such as US GAAP and IFRS, which may be material to investors assessments of the Company's financial condition. Its failures to successfully adopt IFRS may have an adverse effect on the price of its Equity Shares. The proposed adoption of IFRS could result in its financial condition and results of operations appearing materially different than under Indian GAAP.
AJC Jewel Manufacturers Ltd Peer Comparison
Understand the company’s industry standing
AJC Jewel Manufacturers Ltd
Sky Gold & Diamonds Ltd
Patdiam Jewellery Ltd
Face Value
10
10
10
Standalone / Consolidated
Standalone
Consolidated
Consolidated
Total Income Rs. Cr.
---
---
---
EPS-Basis
8.24
35.18
14.3
EPS-Diluted
---
---
---
NAV Per Share
29.88
184.42
138.41
P/E-Basic EPS
---
10.52
26.43
P/E-Diluted EPS
---
---
---
RONW(%)
27.56
16.58
10.33
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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The IPO opens on 23 Jun 2025 & closes on 26 Jun 2025.
AJC Jewel Manufacturers Limited marked its footprints in year 2014, when one of the Promoter Mr. Ashraf P along with his father Mr. Kunhimohamed P jointly entered into manufacturing business of gold jewellery in the name and style as 'Vismaya Gold'. Company was established in the year 2018 vide Certificate of Incorporation dated March 23, 2018 as a Private Limited Company under the name 'Pheonix Gold Castings Private Limited' with Mr. Ashraf P and Mr. Kunhimohamed P as the initial subscribers of the Company. The Company changed its name to 'AJC Jewel Manufacturers Private Limited' dated May 14, 2020. Further, the name was changed to 'AJC Jewel Manufacturers Limited' pursuant to Conversion of Company from Private to Public vide Certificate of Incorporation dated September 24, 2024. Company is currently promoted by Mr. Ashraf P and Ms. Fathima Jasna Kottekkattu.
Company is primarily engaged in the business of manufacturing and designing the wide range of wholesale Gold Jewelleries which includes plain gold, studded and named jewelleries available in 22karat and rose gold jewelleries available in 18Karat. It manufacturers the finished gold jewelleries from raw gold i.e. bullions and required consumables and sell it to dealers, showrooms, corporates and small jewellery shops in wholesale quantities. It provide jewellery designs of plain gold, rose gold, the jewelleries studded with Cubic Zircon and coloured stones and named jewelleries customized and designed in detail, keeping in mind the customer's unique preferences and requirements. It further manufactures jewelleries for three categories of Individuals men, women and children.
Apart from this, the Company cater to a large number of local dealers, showrooms and small-scale jewellery shops who buy products in bulk quantities. It not provide hallmarking name services, Since, it deals in a wholesale industry. However, In few instances if the Company has received one of retail orders, then it gets the jewellery hallmarked from authorized centers. The Sales manager is responsible for generating inquiries, soliciting orders from dealers and conducting negotiations with them. They are also engaged in the marketing activities such as market research, information gathering, participating in exhibitions.
The Company is planning an Initial Public Offer upto 16,50,000 Fresh Issue of Equity Shares.
AJC Jewel Manufacturers Ltd IPO will close on 26 Jun 2025.
- Wide product range, Design and Innovation in our product range.
- Experienced Promoter and management team with proven execution capabilities and Skilled work force with contemporary designing capabilities.
- Long-standing relationship with reputed jewellery dealers.
- Organised manufacturing set-up under one roof.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Ashraf P | 1658630 | 37.29 | 1658630 | 27.33 |
| 2 | Kunhimohmed P | 1237500 | 27.82 | 1237500 | 20.39 |
| 3 | Fathima Jasna Kottekattu | 215400 | 4.84 | 215400 | 3.55 |
| 4 | Asya | 306770 | 6.9 | 306770 | 5.06 |
- We depend on few suppliers for our raw materials required for our operations and we have not entered into any long term agreements and any delays, interruptions or reduction in the supply of raw materials to manufacture our products and any abrupt fluctuations in the prices of our raw materials may adversely affect the pricing of our products and may have an impact on our Business, Results of Operation, Financial Condition and Cash Flows.
- The Restated Financial Statements have been provided by Peer Reviewed Chartered Accountants who is not Statutory Auditor of the Company.
- The company faces significant competition in the Indian jewellery market, its risk losing substantial portion of its customers which will adversely affect its business, financial condition, results of operations and prospects.
- The company has in past entered into related party transactions and its may continue to do so in the future, which may affect the competitive edge.
- There are certain discrepancies/errors/delay filings noticed in some of its corporate records relating to forms filed with the Registrar of Companies, Ernakulam and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate or any other law could impact the financial position of the Company to that extent.
- The company obtain gold on loan basis known as gold metal Loan, which remains subject to RBI regulations. Any adverse change in the regulations governing gold on loan basis may adversely affect its financial condition and results of operations.
- Its inability to respond to changes in demands and market trends in a timely manner and failures to expand its product offering in a diversified manner may have an adverse effect on its business, results of operations and financial condition.
- The company has certain outstanding litigation against it, an adverse outcome of which may adversely affect its business, reputation and results of operations.
- The Company's manufacturing activities are labour intensive and depends on availability of labour. In case of unavailability of such labour, its business operations could be affected.
- The company intend to utilise a portion of the Net Proceeds for funding its Capital Expenditure for purchase of certain Equipment. The company is yet to place orders for such Capital Expenditure. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment in a timely manner, or at all, may result in time and cost over-runs and its business, prospects and results of operations may be adversely affected.
- The company propose to repay or prepay all or a portion of certain outstanding borrowings availed by the Company.
- If the company fails to convert existing customers into repeat customers or acquires new customers or fails to do so in a cost-effective manner, its may not be able to increase revenue or maintain profitability.
- The knowledge and experience of one of the present promoters of the Company is limited in manufacturing of Gold Jewellery Industry.
- The company generate certain portion of the sales from international market of which major portion of sales from its operations is generated from United Arab Emirates and majority portion of sales is from domestic market, any adverse developments affecting its operations in these regions could have an adverse impact on its revenue and results of operations.
- The company generate its major portion of sales from its operations in certain geographical regions especially, Kerala. Any adverse developments affecting its operations in these regions could have an adverse impact on its revenue and results of operations.
- There are certain discrepancies and non-compliances noticed in some of its financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities which may affect its revenue from operations.
- The average cost of acquisition of Equity Shares by its Promoters could be lower than the Price Band to be decided by the Company in consultation with the Book Running Lead Manager in accordance with the SEBI ICDR Regulations.
- Its promoter group entities and one of the Group Company is in the same line of business and consequently the interest of these entities and Company may be in conflict with the interest of the Company.
- The company derives a significant portion of its revenue from Studded Jewellery, Plain Gold Jewellery, Named Jewellery and Rose Gold Jewellery, any reduction in demand or in the production of such products could have an adverse effect on its business, results of operations and financial condition.
- A significant portion of its manufacturing work is done by CAD designers who work exclusively for it, any loss of the company designers or its inability to attract and retain them and other personnel with technical expertise could adversely affect its business, financial condition and results of operations.
- Its Registered Office and Manufacturing Facility both are situated at the same place and are not owned by it. In the event of any disruption of its rights as licensee/ lessee or termination of the agreements with its licensors/ lessors, its Business, Financial Condition and Results of Operations and Cash Flows could be adversely affected.
- Its existing manufacturing facility and registered office are concentrated in a single region i.e., Malappuram in the state of Kerela and therefore, any localized social unrest, natural disaster or breakdown of services or any other natural disaster in and around Kerela and the inability to operate and grow its business in this particular region may have an adverse effect on its business, financial condition, results of operations, cash flows and future business prospects.
- In case of its inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate its business it may have a material adverse effect on its business.
- Under-utilization of its existing manufacturing facility and an inability to effectively utilize its manufacturing capacities could have an adverse effect on its business, future prospects, and future financial performance.
- The seasonality of its business affects the company quarterly results and places an increased strain on its operations.
- The company has significant working capital requirements. If its experience insufficient cash flows from its operations or are unable to borrow to meet its working capital requirements, it may materially and adversely affect its business, cash flows and results of operations.
- One of its Promoter and Company Secretary and one of the independent director does not file ITR for any of the financial years.
- Its Promoter & Executive Director and Whole Time Director have completed intermediate education only, the disclosure with respect to their qualification is limited to the extent of the affidavit provided by them and the same is relied upon, there are no concrete back-ups which are made available or which may be made available in near future with respect to the said directors.
- Its ability to anticipate changes in Industry trends to meet customers' demands and any variations in the Government Regulations/policies or Technology Upgradation is a significant factor to remain competitive, any failures to identify and understand the trends may materially adversely affect its Business.
- Exchange rate fluctuations may materially and adversely affect its business, financial performance, cash flows and prospects as some portion of its revenues and expenditures are denominated in foreign currencies.
- Its success largely depends upon the knowledge and experience of its Promoters, Directors, Key Managerial Personnel and Senior Management as well as its ability to attract and retain personnel with technical expertise. Any loss of its Promoters, Directors, Key Managerial Personnel, Senior Management or its inability to attract and retain them and other personnel with technical expertise could adversely affect its business, financial condition and results of operations.
- The Company's logo and brand name "AJC Jewel" is currently not registered with Registrar of Trademark; any infringement of its logo and brand name or failures to get it registered may adversely affect its Business. Further, any kind of negative publicity or misuse of its logo and brand name could hamper its Goodwill and its future Growth Strategies could be adversely affected.
- The orders placed by customers may be delayed, modified or cancelled, which may have an adverse effect on its business, financial condition and results of operations.
- If the company fails to maintain an effective system of internal controls, its may not be able to successfully manage, or accurately report, its financial risks. Despite its internal control systems, its may be exposed to operational risks, including fraud, petty theft and embezzlement, which may adversely affect its reputation, business, financial condition, results of operations and cash flows.
- Its inability to effectively manage the company growth could have an adverse effect on its business, results of operations and financial condition.
- The company is subject to strict quality requirements and any product defects or any failures by it to comply with quality standards may lead to the cancellation of existing and future orders, product recalls and exposure to potential product liability claims, warranty claims and other disputes.
- The company has taken guarantees from its promoters in relation to Debt Facilities provided to it, in an event any of these persons withdraw or terminate its/their guarantees, the lender for such facilities may ask for alternate guarantees, repayment of amounts outstanding under such facilities, or even terminate such facilities.
- The company has incurred indebtedness. In addition, certain of its financing agreements involve variable interest rates and an increase in interest rates may adversely affect its results of operations and financial condition.
- In addition to normal remuneration, other benefits and reimbursement of expenses some of its directors (including its Promoters) are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- The company is dependent on third-party transportation providers for the supply of raw materials and finished products. Accordingly, continuing increases in transportation costs or unavailability of transportation services for them, as well the extent and reliability of Indian infrastructure may have an adverse effect on its business, financial condition, results of operations and prospects.
- Its inability to accurately forecast demand or price for its products and manage the company inventory may adversely affect its business, results of operations and financial condition.
- Failures or disruption of its information technology systems may adversely affect its business, financial condition, results of operations, cash flows and prospects. Also, its inability to meet the changes in technology or advancement requirements in its current manufacturing process, may render its current technologies obsolete or may requires additional investments which may have an adverse effect on the Business, financial condition and results of operations.
- Its funding requirements and proposed deployment of the Net Proceeds are based on management estimates and the company has not entered into any definitive arrangements to utilize the Net Proceeds of the Issue and the Objects have not been independently appraised by a bank or a financial institution. Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- Portion of its Issue Proceeds are proposed to be utilized for general corporate purposes which constitute [?] % of the Issue Proceed.
- The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
- Its business may expose it to potential product liability claims, which could adversely affect its results of operation, goodwill and the marketability of the company products.
- Employee misconduct including misuse of confidential data and failures to maintain confidentiality of information could harm it and is difficult to detect and deter.
- The company has significant power requirements and any disruption to power sources could increase its production costs and adversely affect its results of operations and cash flows.
- The company is subject to increasingly stringent environmental, health and safety laws, regulations and standards. Noncompliance with and adverse changes in health, safety, labour and environmental laws and other similar regulations to its manufacturing operations may adversely affect its business, results of operations and financial condition.
- Its may not be fully insured for all losses the company may incur.
- Its commercial success depends on the success of the company customer's products with end customers. Any decline in the demand for its customer's products would adversely impact the demand for its products.
- Its might infringe upon the intellectual property rights of others and may be susceptible to claims from third parties, affecting its operations and financial condition.
- The company is exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact its results of operations.
- The company has not commissioned an industry report for the disclosures made in the section titled `Industry Overview' and made disclosures on the basis of the data available on the internet and such data has not been independently verified by it.
- Its Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- Its ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
- The determination of the Price Band is based on various factors and assumptions and the Issue Price of the Equity Shares may not be indicative of the market price of the Equity Shares upon listing on the Stock Exchange.
- Significant differences exist between Indian GAAP and other accounting principles, such as US GAAP and IFRS, which may be material to investors assessments of the Company's financial condition. Its failures to successfully adopt IFRS may have an adverse effect on the price of its Equity Shares. The proposed adoption of IFRS could result in its financial condition and results of operations appearing materially different than under Indian GAAP.
The Issue type of AJC Jewel Manufacturers Ltd is Book Building - SME.
The minimum application for shares of AJC Jewel Manufacturers Ltd is 2400.
The total shares issue of AJC Jewel Manufacturers Ltd is 1620000.
Initial public offer of upto 16,20,000 equity shares of face value of Rs. 10/- each (the "Equity Shares") of AJC Jewel Manufacturers Limited ("the Company" or "AJC Jewel" or "the issuer") for cash at a price of Rs. 95 per equity share including a share premium of Rs. 85 per equity share (the "Issue Price") aggregating to Rs. 15.39 crores ("the Issue"), of which upto 84,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 95 per equity share including a share premium of Rs. 85 per equity share aggregating to Rs. 0.80 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e., net issue of upto 15,36,000 equity shares of face value of Rs. 10/- each at a price of
Rs. 95 per equity share including a share premium of Rs. 85 per equity share aggregating to Rs. 14.59 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 26.70 % and 25.31 % respectively of the post issue paid up equity share capital of the company.
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