Bookbuilding IPO | ₹24 Cr | Listed at BSE SME | Mon, Dec 1, 2025 - Wed, Dec 3, 2025
Ravelcare IPO is a book build issue of ₹24.10 crores. The issue is entirely a fresh issue of 0.19 crore shares of ₹24.10 crore.
Ravelcare IPO bidding started from Dec 1, 2025 and ended on Dec 3, 2025. The allotment for Ravelcare IPO was finalized on Dec 4, 2025. The shares got listed on BSE SME on Dec 8, 2025.
Ravelcare IPO price band is set at ₹130 per share. The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹2,60,000 (2,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,000 shares), amounting to ₹3,90,000.
Marwadi Chandarana Intermediaries Brokers Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is SS Corporate Securities Ltd..
Refer to Ravelcare IPO RHP for detailed Information.
IPO Open
Mon, Dec 1, 2025
IPO Close
Wed, Dec 3, 2025
Issue Price
₹130 per share
Market Cap (Pre-IPO)
₹89.17 Cr
| IPO Date | 1 to 3 Dec, 2025 |
| Listed on | Mon, Dec 8, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹123 to ₹130 |
| Issue Price | ₹130 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 18,54,000 shares (agg. up to ₹24 Cr) |
| Reserved for Market Maker | 94,000 shares SS Corporate Securities Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 17,60,000 shares (agg. up to ₹23 Cr) |
| Net Offered to Public | 17,60,000 shares (agg. up to ₹23 Cr) |
| Share Holding Pre Issue | 50,05,000 shares |
| Share Holding Post Issue | 68,59,000 shares |
| BSE Script Code | 544629 |
| ISIN | INE0W4D01018 |
Ravelcare IPO comprises a total issue size of 18,54,000 shares. The net offer to the public is 17,60,000 shares, after excluding 94,000 shares allotted on a firm basis. Of the Net offer 8,76,000 (49.77%) are allocated to QIB, 2,64,000 (15.00%) allocated to NII 6,20,000 (35.23%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 8,76,000 | 49.77% | 47.25% |
| − Anchor Investor Shares Offered | 5,25,000 | 28.32% | |
| − QIB (Ex. Anchor) Shares Offered | 3,51,000 | 18.93% | |
| NII (HNI) Shares Offered | 2,64,000 | 15.00% | 14.24% |
| − bNII > ₹10L | 1,74,000 | 9.39% | |
| − sNII < ₹10L | 90,000 | 4.85% | |
| Retail Shares Offered | 6,20,000 | 35.23% | 33.44% |
| Firm Reservations | |||
| Market Maker Shares Offered | 94,000 | 5.07% | |
| Total Shares Offered | 18,54,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,60,000 |
| Individual investors (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 |
Ravelcare IPO raises ₹6.83 crore from anchor investors. Ravelcare IPO Anchor bid date is November 28, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Nov 28, 2025 |
| Shares Offered | 5,25,000 |
| Anchor Portion (₹ Cr.) | 6.83 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Jan 3, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Mar 4, 2026 |
Incorporated in November 2018, Ravelcare Ltd. is a digital-first beauty and personal care (BPC) brand offering a comprehensive range of haircare, skincare, bodycare, and scalp care products tailored to individual needs.
The company operates primarily through its website and online marketplaces such as Amazon, Flipkart, and Myntra, along with quick commerce platforms like Blinkit. In FY 2024–25, Ravelcare expanded its presence internationally, catering to customers in the UAE, Australia, Canada, Germany, the USA, and Saudi Arabia.
To ensure supply chain reliability and timely product delivery, the company manages logistics and warehousing operations across central Indian states. Additionally, Ravelcare plans to set up its integrated manufacturing facility in Mauje-Peth, Amravati, Maharashtra, with a proposed installed capacity of 1,050 TPA. This facility will house R&D, manufacturing, packaging, warehousing, and distribution under one roof.
Product Offerings
Ravelcare’s portfolio spans four key segments:
Haircare: Includes shampoos, conditioners, masks, oils, and styling products tailored to concerns like hair fall, frizz, and damage from chemical treatments. Products are customized via digital consultations and are sold through online platforms.
Skincare comprises cleansers, serums, moisturisers, sunscreens, and treatments for acne, dryness, pigmentation, and sensitivity. Customisation is based on digital skin assessments.
Bodycare: Offers body washes and lotions designed for hydration, cleansing, and skin barrier repair, addressing conditions like dryness and sensitivity.
Scalp Care: Features targeted treatments such as anti-dandruff tonics, hair growth serums, and approved hair fall control ampoules for issues like dryness, flaking, and buildup.
As of June 30, 2025, the company employed 25 professionals across departments.
Competitive Strengths
Wide and Diversified Customer Base: The company serves a broad domestic and international customer base through a distributed warehousing model and third-party logistics, ensuring fast and reliable delivery.
Digital-First Distribution: Operating primarily through D2C channels, Ravelcare reduces dependency on intermediaries and controls the entire customer journey—from discovery to delivery—allowing competitive pricing and consistent service.
Customer-Centric Approach: Ravelcare builds strong relationships via a personalised digital consultation process, enabling the brand to understand individual needs and provide tailored product recommendations. Word-of-mouth from satisfied customers drives organic growth.
Innovation-Led Product Development: The company continuously innovates based on customer feedback and digital interactions. Product development includes concept ideation, formulation, regulatory compliance, testing, and market positioning, driven by structured consumer insights.
With its focus on personalisation, international expansion, and digital innovation, Ravelcare Ltd. positions itself as a modern, data-driven beauty and personal care brand addressing the evolving needs of customers globally.
Ravelcare Ltd.'s revenue increased by 14% and profit after tax (PAT) rose by 5% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 15.68 | 11.63 | 8.03 | 1.74 |
| Total Income | 14.44 | 25.30 | 22.28 | 3.49 |
| Profit After Tax | 3.20 | 5.26 | 5.02 | 0.41 |
| EBITDA | 4.33 | 6.82 | 6.64 | 0.51 |
| NET Worth | 13.55 | 10.35 | 5.10 | 0.07 |
| Reserves and Surplus | 8.54 | 5.35 | 5.09 | 0.07 |
| Total Borrowing | 0.04 | 0.41 | ||
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Marketing and advertisement expenses toward enhancing the awareness and visibility of the brand | 11.50 |
| 2 | Setting up a new manufacturing facility located at Mauje-Peth in Amravati (“Proposed facility”) | 7.84 |
| 3 | General Corporate Purposes | 2.13 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 68.04% |
| ROCE | 68.32% |
| RoNW | 50.77% |
| PAT Margin | 21.01% |
| EBITDA Margin | 27.30% |
| Price to Book Value | 6.29 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.50 | 9.32 |
| P/E (x) | 12.38 | 13.95 |
| Promoter Holding | 99.96% | 72.95% |
| Market Cap | ₹89.17 Cr. |
The Ravelcare IPO is subscribed 437.60 times on December 3, 2025 6:19:33 PM (Day 3). The public issue subscribed 463.13 times in the individual investors category, 155.91 times in the QIB category, and 752.16 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB (Ex Anchor) | 155.91 | 3,51,000 | 5,47,25,000 | 0 |
| NII* | 752.16 | 2,64,000 | 19,85,70,000 | 0 |
| bNII (bids above ₹10L) | 879.74 | 1,74,000 | 15,30,75,000 | |
| sNII (bids below ₹10L) | 505.50 | 90,000 | 4,54,95,000 | |
| Individual Investor | 463.13 | 6,20,000 | 28,71,38,000 | 0 |
| Total | 437.60 | 12,35,000 | 54,04,33,000 | 1,77,452 |
Total Application : 1,77,452
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLM fees and commissions (including underwriting, brokerage and selling commission) | 0.46 |
| 2 | Selling Commission / processing fee for SCSBs, Sponsor Bank and Bankers to the Issue. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs. | 0.06 |
| 3 | Fees payable to Registrar to the Issue | 0.04 |
| 4 | Fees payable to Auditors | 0.04 |
| 5 | Fees payable to Market Maker | 0.10 |
| 6 | Listing fees, upload fees, Stock Exchange fee, book building software fees and other regulatory expenses | 0.27 |
| 7 | Printing and Stationery | 0.01 |
| 8 | Advertising and Marketing expenses | 1.03 |
| 9 | Fees payable to Legal Advisors to the Issue | 0.01 |
| 10 | Miscellaneous (including Auditors, consultants, Practicing Company Secretaries fees payable for marketing & distribution and other professional agencies) | 0.67 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹130.00 |
| Open | ₹201.00 |
| Low | ₹190.95 |
| High | ₹208.95 |
| Last Trade | ₹190.95 |
Lead Manager Reports
Ravelcare IPO is a SME IPO of 18,54,000 equity shares of the face value of ₹10 aggregating up to ₹24 Crores. The issue is priced at ₹130 per share. The minimum order quantity is 1000.
The IPO opens on Mon, Dec 1, 2025, and closes on Wed, Dec 3, 2025.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Ravelcare IPO using UPI as a payment gateway. Zerodha customers can apply in Ravelcare IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ravelcare IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ravelcare IPO opens on Mon, Dec 1, 2025 and closes on Wed, Dec 3, 2025.
Ravelcare IPO lot size is 1000, and the minimum amount required for application is ₹2,60,000, with 2 lots being the minimum application size.
You can apply in Ravelcare IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Ravelcare IPO will be done on Thursday, December 4, 2025, and the allotted shares will be credited to your demat account by Fri, Dec 5, 2025. Check the Ravelcare IPO allotment status.
The Ravelcare IPO listing date is on Mon, Dec 8, 2025.
