Ravelcare Ltd. is launching a ₹24.10 crore SME IPO as a fresh issue of 18,54,000 shares. The public offer opens on Dec 1, 2025 and closes on Dec 3, 2025. Tentative allotment is expected on Dec 4, 2025, with refunds and credit to demat on Dec 5, 2025, and tentative listing on BSE SME on Dec 8, 2025.
Ravelcare IPO
BSE SME • Fresh Capital (Book-building)
UPCOMING IPORavelcare Ltd. is launching a ₹24.10 crore SME IPO as a fresh issue of 18,54,000 shares. The public offer opens on Dec 1, 2025 and closes on Dec 3, 2025. Tentative allotment is expected on Dec 4, 2025, with refunds and credit to demat on Dec 5, 2025, and tentative listing on BSE SME on Dec 8, 2025.
Price band is set at ₹123 to ₹130 per share. Lot size is 1,000 shares; minimum retail application is 2,000 shares (₹2,60,000) (SME retail min = 2 lots).
| Face Value | ₹10 per share |
|---|---|
| Issue Price Band | ₹123 to ₹130 per share |
| Lot Size | 1,000 shares |
| Total Issue Size | 18,54,000 shares (aggregating up to ₹24.10 Cr) |
| Market Maker Reserved | 94,000 shares (≈₹1.22 Cr) — SS Corporate Securities Ltd. |
| Net Offered to Public | 17,60,000 shares (≈₹22.88 Cr) |
| Issue Type | Book-building IPO (SME) |
| Listing | BSE SME |
| Share Holding (Pre / Post) | 50,05,000 / 68,59,000 shares |
| Lead Manager | Marwadi Chandarana Intermediaries Brokers Pvt. Ltd. |
| Registrar | Kfin Technologies Ltd. |
| Investor Category | Shares Offered / % |
|---|---|
| Market Maker | 94,000 (5.07%) |
| QIB | 8,76,000 (47.25%) |
| NII (HNI) | 2,64,000 (14.24%) |
| Retail (RII) | 6,20,000 (33.44%) |
| IPO Open | Mon, Dec 1, 2025 |
|---|---|
| IPO Close | Wed, Dec 3, 2025 |
| Allotment (Tentative) | Thu, Dec 4, 2025 |
| Initiation of Refunds | Fri, Dec 5, 2025 |
| Credit of Shares to Demat | Fri, Dec 5, 2025 |
| Listing (Tentative) | Mon, Dec 8, 2025 |
| UPI Mandate Cut-off | 5 PM on Wed, Dec 3, 2025 |
| Application | Lots | Shares | Amount (at ₹130) |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹2,60,000 |
| Retail (Max) | 2 | 2,000 | ₹2,60,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,90,000 |
| S-HNI (Max) | 7 | 7,000 | ₹9,10,000 |
| B-HNI (Min) | 8 | 8,000 | ₹10,40,000 |
Note: amounts shown at upper price band (₹130). Retail min = 2 lots (2,000 shares) as per SME rules.
Incorporated in November 2018, Ravelcare Ltd. is a digital-first beauty & personal care brand offering haircare, skincare, bodycare and scalp care products. The company sells primarily through its website and marketplaces (Amazon, Flipkart, Myntra) and quick commerce partners (Blinkit), and has started international expansion into UAE, Australia, Canada, Germany, USA and Saudi Arabia. Ravelcare plans an integrated manufacturing facility in Amravati (Maharashtra) to house R&D, manufacturing, packaging, warehousing and distribution.
Competitive strengths: diversified domestic & international reach via D2C and marketplaces; personalised digital consultations; distributed warehousing and quick logistics; innovation-led product development based on customer data.
As of Jun 30, 2025: 25 employees.
FY snapshot (Amounts in ₹ Crore)
| Period Ended | Assets | Total Income | Profit After Tax | EBITDA | Net Worth | Reserves & Surplus | Total Borrowing |
|---|---|---|---|---|---|---|---|
| 30 Sep 2025 | 15.68 | 14.44 | 3.20 | 4.33 | 13.55 | 8.54 | — |
| 31 Mar 2025 | 11.63 | 25.30 | 5.26 | 6.82 | 10.35 | 5.35 | 0.04 |
| 31 Mar 2024 | 8.03 | 22.28 | 5.02 | 6.64 | 5.10 | 5.09 | 0.41 |
| 31 Mar 2023 | 1.74 | 3.49 | 0.41 | 0.51 | 0.07 | 0.07 | — |
KPIs (as of Mar 31, 2025): ROE 68.04% | ROCE 68.32% | RoNW 50.77% | PAT Margin 21.01% | EBITDA Margin 27.30% | Price / Book 6.29 | Market Cap: ₹89.17 Cr.
| 1 | Marketing & advertisement to enhance brand awareness — ₹11.50 Cr |
|---|---|
| 2 | Setting up manufacturing facility at Mauje-Peth, Amravati — ₹7.84 Cr |
| 3 | General corporate purposes |
Analyst summary: Ravelcare is a digitally native BPC play with improving revenue and steady PAT. Strong unit economics (high PAT & EBITDA margins) and international expansion are positives; investors should read the RHP for manufacturing timeline and working capital needs before subscribing.
Company Contact
- Address: Off-126, Neo Corporate Plaza, Cabin B, Ramchandra Lane Extension, Malad, Mumbai, Maharashtra, 400064
- Phone: +91 87792 06822
- Email: pragya@ravelcare.com
- Website: http://www.ravelcare.com/
Registrar
- Kfin Technologies Ltd. — Phone: 040-67162222 / 040-79611000 | Email: ravelcare.ipo@kfintech.com