AJC Jewel IPO Allotment to Be Out Soon: Steps to Check Status Online and GMP as Focus Shifts to Listing

IPO Allotment Status: When and How to Check Online

The IPO allotment status for AJC Jewel Limited is expected to be finalized soon, possibly within the next 1–2 business days, according to market sources. Investors can check their allotment status online through the registrar's website or the Bombay Stock Exchange (BSE) portal once the details are made live.

Steps to check IPO allotment on BSE:

1. Visit the BSE website at https://www.bseindia.com/investors/appli_check.aspx

2. Select ‘Equity’ as the issue type.

3. Choose ‘AJC Jewel Limited’ from the dropdown list.

4. Enter your application number and PAN.

5. Click on ‘Search’ to view the allotment status.

Alternatively, if the IPO registrar is Bigshare Services Pvt Ltd, the allotment can also be checked at https://ipo.bigshareonline.com/ by selecting the IPO, entering your application number, DPID/Client ID, or PAN.

IPO Overview: Subscription and Company Details

The IPO of AJC Jewel Limited, a Gujarat-based jewelry wholesaler and manufacturer, opened for subscription from June 19 to June 21, 2025. The issue was an SME IPO on the NSE Emerge platform with a total issue size of ₹42.50 crore, priced in the band of ₹89 to ₹94 per share.

The company is engaged in designing and trading gold jewelry, including bangles, chains, necklaces, and other items. With a customer base spread across multiple Indian states, AJC Jewel aims to use the IPO proceeds for working capital requirements and business expansion.

As per data from NSE, the IPO received a strong investor response, with the issue being oversubscribed several times across retail and non-institutional categories.

Grey Market Premium (GMP) Trends

The grey market premium (GMP) for AJC Jewel IPO has been drawing investor attention. As of June 27, 2025, market observers report a GMP of ₹30–₹34 per share, indicating a possible listing gain of over 30% from the upper price band of ₹94.

A Mumbai-based grey market operator commented,

“The steady GMP reflects positive sentiment among retail participants and SME-focused investors. The issue size is modest, and the oversubscription hints at scarcity premium likely aiding listing gains.”

However, investors should note that GMP is an unofficial metric and may not always reflect the actual listing performance.

Analyst Insights and Market Context

The IPO arrives amid a broader rally in midcap and smallcap stocks, supported by favorable domestic macros and improved retail participation. With multiple SME IPOs listing at significant premiums in recent months, the appetite for such offerings remains strong.

Financial advisor and IPO analyst Rajiv Mehta noted,

“AJC Jewel operates in a traditional yet evergreen sector. While margins are thin in gold trading, their expanding footprint and capital infusion through the IPO could help scale operations. The high subscription suggests investors are betting on potential re-rating.”

Meanwhile, risk remains due to dependency on gold price volatility, competition from large jewelry brands, and working capital intensity.

Listing Date and Outlook

AJC Jewel Limited is tentatively scheduled to list on the NSE Emerge platform on July 1, 2025. The final listing price will depend on market conditions, investor sentiment, and grey market trends.

Given the robust subscription figures and the positive GMP, a premium listing appears likely, unless market conditions turn unexpectedly volatile.

Investors who do not receive allotment refunds will be processed shortly after allotment finalization, and shares will be credited to successful bidders in their demat accounts prior to the listing date.

Investor Outlook: What to Expect

For investors who secure allotment, the focus will now shift to the listing gains and medium-term prospects. While the immediate sentiment supports a premium debut, long-term investors will be monitoring the company’s ability to scale and sustain profitability post-IPO.

For those who missed the allotment, analysts suggest tracking AJC Jewel post-listing to assess valuation comfort before making secondary market entries.

The upcoming AJC Jewel IPO allotment marks another milestone in India's booming SME IPO landscape. As listing day approaches, investor anticipation is high, bolstered by encouraging GMP trends and strong demand. However, prudent investors are advised to monitor market cues closely and align their strategies accordingly.