Speb Adhesives IPO...
27 Nov, 2025
Ravelcare IPO
The Ravelcare IPO for ₹24.10 crores opens for subscription on December 1, 2025 and closes on December 3, 2025. It will entirely be a fresh issue of 0.19 crore shares of ₹24.10 crore.
Allotment for this book build issue is expected to be finalized on December 4, 2025. Ravelcare IPO will list on BSE SME with a tentative listing date fixed as December 8, 2025. The IPO price band is set at ₹123.00 to ₹130.00 per share and the minimum amount of investment required by an individual investor (retail) is ₹2,60,000.00 (2,000 shares) (based on upper price).
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. The minimum lot size investment for HNI is 3 lots (3,000 shares), amounting to ₹3,90,000.
Company Background
Ravelcare Ltd. focuses on personalized haircare, skincare and bodycare solutions for Indian consumers. Incorporated in 2018 as Ravelcare Private Limited, Ravelcare Ltd has evolved from a haircare brand into a broader, customized self-care platform.Headquartered in Maharashtra, the digitally-native beauty and personal care company positions itself at the intersection of clean beauty, data-driven customization and advanced formulation science.
Operations and Product Range
Primarily, the operations of Ravelcare Ltd. are built around a tech-enabled customization engine that effectively designs products based on customer hair, skin and lifestyle profiles collected via online questionnaires and feedback loops.The company provides tailored haircare products such as shampoos, serums and conditioners alongside expanding ranges in bodycare and skincare that focus on toxin-free, clean formulations without sulfates, parabens, mineral oils, phthalates, or GMOs.
Each product line of the company is meticulously developed via curated active ingredients and tested formulations aimed at addressing health concerns such as hair fall, damage, dandruff, dehydration and sensitivity. The company’s operations are supported by contract manufacturing and internal formulation capabilities, integrated with distributed warehousing, digital order management and third-party logistics to enable pan-India delivery.
Revenue Channels
The company follows a direct-to-consumer (D2C) revenue model and sells predominantly via leading eCommerce marketplaces and its website, which allows it to retain higher margins while exercising full control over branding, customer experience and pricing.
The sales of Ravelcare Ltd. are driven by one-time purchases of customized kits along with repeat orders from loyal users who re-order their preferred formulations. Geography-wise revenue contribution is expected to broaden beyond metros over time as the company deepens penetration into Tier II/III markets using marketplaces, quick-commerce partners and improved logistics reach.
Management & Shareholding
Ravelcare is led by Chairman and Managing Director Ayush Mahesh Varma, who offers strategic direction across brand positioning, technology integration and new product roll-outs. Pre-IPO shareholding is concentrated with early investors and promoters and the proposed Ravelcare IPO is a fresh equity raise with no OFS component, which means proceeds of the IPO would be utilized for growth while keeping promoter skin in the game relatively high.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Ravelcare IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Ravelcare IPO Details
| Detail | Description |
|---|---|
| IPO Date | December 1, 2025 to December 3, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹123 to ₹130 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 18,54,000 shares (aggregating up to ₹24.10 Cr) |
| Reserved for Market Maker | 94,000 shares (aggregating up to ₹1.22 Cr) SS Corporate Securities Ltd. |
| Offer for Sale | 6,76,800 shares of ₹10 (aggregating up to ₹7.92 Cr) |
| Net Offered to Public | 17,60,000 shares (aggregating up to ₹22.88 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 50,05,000 shares |
| Share Holding Post Issue | 68,59,000 shares |
Ravelcare IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | December 1, 2025 |
| IPO Close Date | December 3, 2025 |
| Tentative Allotment | December 4, 2025 |
| Initiation of Refunds | December 5, 2025 |
| Credit of Shares to Demat | December 5, 2025 |
| Tentative Listing Date | December 8, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wednesday, December 3, 2025 |
Ravelcare IPO Lot Size
| 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 Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 99.96% |
| Promoter Holding Post Issue | - |
Competitive Strength:
- • Differentiated positioning around personalized, clean and science-backed beauty solutions, which resonates strongly with digitally savvy, ingredient-conscious consumers.
- • Digital-first D2C distribution model builds direct relationships with customers, reducing dependence on offline channels, improving gross margins and enabling rapid, data-led experimentation in product, pricing and communication
- • The use of online diagnostics, feedback and reviews provides a continuous loop for R&D, allowing the company to refine formulations, launch targeted lines such as advanced scalp-care series and respond quickly to emerging trends.
- • A scalable supply chain using distributed warehousing and third-party logistics partners provides a wide geographic reach without heavy capex, an important advantage for an asset-light, high-growth SME brand.
Ravelcare IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2025 | 15.68 | 14.44 | 3.20 | 13.55 | - | |||||||||||||||||||||||||||||||||||
| 31 Mar 2025 | 11.63 | 25.30 | 5.26 | 10.35 | 0.04 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 8.03 | 22.28 | 5.02 | 5.10 | 0.41 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 1.74 | 3.49 | 0.41 | 0.07 | - | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 68.04% |
| ROCE | 68.32% |
| Debt/Equity | 50.77% |
| RoNW | 21.01% |
| PAT Margin | 27.30% |
| EBITDA Margin | 6.29 |
| Price to Book Value | ₹89.17 Cr. |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.50 | 9.32 |
| P/E (x) | 12.38 | 13.95 |
Ravelcare IPO Objectives
The Ravelcare Ltd. IPO proposes to utilize the Net Proceeds from the Issue for marketing and advertisement expenses of ₹11.5 cr towards enhancing the awareness and visibility of the brand, ₹7.84 cr towards setting up a new manufacturing facility located at Mauje-Peth in Amravati (“Proposed facility”) and general corporate purposes.
Conclusion
Ravelcare Ltd. IPO is a book build issue worth ₹24.10 crores, entirely a fresh issue of 0.19 crore shares of ₹24.10 crores. The IPO price band is set at ₹123.00 to ₹130.00 per share and the Ravelcare Ltd. IPO opens for subscription on December 1, 2025 and closes on December 3, 2025.
Ravelcare follows a direct-to-consumer (D2C) revenue model and sells via its website and top eCommerce marketplaces. The Ravelcare Ltd. IPO proceeds will be used to enhance the awareness and visibility of the brand via marketing and advertisement expenses of ₹11.5 crores, setting up a new manufacturing facility for ₹7.84 crores located at Mauje-Peth in Amravati (“Proposed facility”) and general corporate purposes.
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Frequently asked Questions (FAQs )
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When does Ravelcare IPO open and close?
The Ravelcare Ltd. IPO opens on December 1, 2025 and closes on December 3, 2025
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What is the total size of the Ravelcare IPO?
The book-building issue size for Ravelcare Ltd. IPO is a fresh issue of 0.19 crore shares of ₹24.10 crore.
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Where will the Ravelcare Ltd. IPO be listed?
The Ravelcare Ltd. IPO will be listed on the BSE SME platform.
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What are the primary objectives for Ravelcare IPO proceeds?
The Ravelcare Ltd. IPO proceeds will be used to enhance the awareness and visibility of the brand via marketing and advertisement expenses of ₹11.5 crores, setting up a new manufacturing facility for ₹7.84 crores located at Mauje-Peth in Amravati (“Proposed facility”) and general corporate purposes.
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