Ravelcare Limited
Bookbuilding IPO · BSE
- Price band
- ₹123 - ₹130
- Lot size
- 1,000 shares
- Issue amount
- ₹24.1 cr
- Total subscription
- 437.67×
- Opens
- 1 Dec 2025
- Closes
- 3 Dec 2025
- Allotment
- 4 Dec 2025
- Listing
- 8 Dec 2025
Offer at a glance
Issue overview
- Issue size
- 18,54,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,23,000
- Fresh issue
- ₹24.1 cr
- Offer for sale
- ₹0 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,30,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 50,05,000
- Shares after issue
- 68,59,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,000 | ₹2,60,000 |
| sHNI | 3 | 3,000 | ₹3,90,000 |
| bHNI | 8 | 8,000 | ₹10,40,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 3 Dec 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 104 |
| NIB | 0 | 32,943 |
| RETAIL | 310 | 1,43,569 |
| HNIs(10L +) | 58 | 18,526 |
| HNIs (2-10L) | 30 | 14,417 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 4.56 | 711.42 |
| FIIs | 0 | 211.98 |
| Mutual Funds | 0 | 15.9 |
| Others | 0 | 434.63 |
| RETAIL | 8.06 | 3,732.79 |
| NIB | 3.43 | 2,582.63 |
| HNIs 2+ | 1.17 | 591.43 |
| HNIs 10+ | 2.26 | 1,991.2 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 6.39 | 10.5 | 10.04 | 0.83 |
| ROE | 26.75 | 68.04 | 194.46 | -305.28 |
| ROCE | 32.01 | 68.32 | 133.05 | 106.11 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 12.38 | 0 | 0 |
| POST IPO(PE) | 13.95 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Incorporated in November 2018, Ravelcare Ltd. is a digital-first beauty and personal care brand offering customized haircare, skincare, bodycare, and scalp care products through its website, major online marketplaces like Amazon, Flipkart, and Myntra, and quick-commerce platforms such as Blinkit. The company expanded internationally in FY 2024–25, serving customers in the UAE, Australia, Canada, Germany, the USA, and Saudi Arabia, while managing logistics and warehousing across central Indian states for efficient delivery. To enhance innovation and operations, Ravelcare is developing an integrated manufacturing facility in Mauje-Peth, Amravati, Maharashtra, with a planned installed capacity of 1,050 TPA, bringing R&D, manufacturing, packaging, warehousing, and distribution under one roof.
Strengths
- Diversified Customer Base & Strong Reach: Serves customers across India through distributed warehousing and efficient logistics, ensuring timely deliveries with end-to-end monitoring.
- Digital-First Distribution Model: Uses a D2C approach via its website, major e-commerce platforms, and quick-commerce apps, reducing middlemen and offering better pricing and full control over customer experience.
- Ongoing Product Innovation: Uses customer feedback and structured R&D to improve formulas and create new products, including specialized launches like the “Expert Series” for scalp care.
Risk factors
- Dependence on One Contract Manufacturer: The company outsources all production to a single manufacturer in Maharashtra. Any disruption, quality issue, or operational problem at this facility can impact business operations, cash flow, and financial performance.
- Risks in Setting Up the New Manufacturing Facility: Orders for machinery and required approvals for the upcoming Amravati facility are still pending. Delays, higher costs, or issues in commissioning the plant may affect operations and future results.
- High Dependence on Website & Digital Marketing: The company relies heavily on its website and digital platforms for marketing and sales. Any policy changes, pricing updates, or technical issues on these platforms could affect customer reach and overall business performance.
Promoters
Ayush Mahesh Verma
Registrar & documents
Lead manager
Marwadi Chandarana Intermediaries Brokers Private Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Off-126, Neo Corporate Plaza Cabin B, Ramchandra Lane Extension Malad, Mumbai Malad, Maharashtra, 400064
+91 87792 06822
[email protected]Company website ↗Understanding RAVEL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.