Ravelcare IPO
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Ravelcare IPO details
Schedule of Ravelcare
| Issue open date | 01 Dec 2025 |
| Issue close date | 03 Dec 2025 |
| UPI mandate deadline | 03 Dec 2025 (5 PM) |
| Allotment finalization | 04 Dec 2025 |
| Refund initiation | 05 Dec 2025 |
| Share credit | 05 Dec 2025 |
| Listing date | 08 Dec 2025 |
| Mandate end date | 18 Dec 2025 |
| Lock-in end date for anchor investors (50%) | 03 Jan 2026 |
| Lock-in end date for anchor investors (remaining) | 04 Mar 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Ravelcare
Ravelcare Limited is a digital-first beauty and personal care company offering haircare, skincare, and bodycare products through a direct-to-consumer model. Originally incorporated in 2018 as Ravelcare Private Limited, the company was converted into a public limited entity in June 2024. Its product lineup is developed using data-driven insights and sold through multiple channels including its website, major e-commerce platforms like Amazon, Flipkart and Myntra, and quick-commerce platform Blinkit. The company has also expanded internationally and now caters to customers in the UAE, Australia, Canada, Germany, the USA and Saudi Arabia.
Ravelcare currently operates through licensed third-party contract manufacturing while undertaking formulation and R&D through external experts and laboratories. It manages warehousing and logistics across key Indian states and plans to set up its own integrated manufacturing facility in Amravati, Maharashtra with an installed capacity of 1,050 TPA. The business model centers on personalized product experiences supported by technology for customer engagement, demand forecasting, and fulfilment. Rooted in the meaning of “Ravel” to entangle and untangle the brand aims to simplify personal care choices with structured, customized, and science-backed solutions.
Financials of Ravelcare
Issue size
| Funds Raised in the IPO | Amount |
| Total issue size | 24.10 |
| Fresh Issue – Proceeds go to the company | 24.10 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Marketing and advertisement expenses toward enhancing brand awareness | 11.50 (47.72%) |
| Setting up a new manufacturing facility at Mauje-Peth, Amravati | 7.84 (32.53%) |
| General corporate purpose | 4.76 (19.75%) |
Strengths
- Digital-first D2C distribution model with strong presence across e-commerce platforms.
- Focus on personalized formulations developed through data-driven R&D collaboration with external labs.
- Wide product portfolio across haircare, skincare, bodycare and scalp care with strong revenue share from haircare.
- Growing international footprint with sales initiated in UAE, Australia, Canada, Germany, USA and Saudi Arabia.
- High EBITDA and PAT margins indicate strong operating efficiency and profitability.
Risks
- Complete dependence on a single third-party contract manufacturer for all products.
- Rising product acquisition cost from the manufacturer may directly impact margins and selling prices.
- Contract manufacturer also manufactures for other brands and may create conflict of interest.
- Lack of in-house manufacturing exposes the company to disruption risk from equipment failures, labour issues and compliance lapses at vendor facilities.
- Inadequate IP protection may lead to imitation or misuse of formulations by the manufacturer or third parties.
Allotment Status for Ravelcare
To check your IPO allotment status:
- Visit the Kfin Technologies IPO Application Status page.
- Select the company name from the dropdown menu.
- Select and enter one of the following: PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Click Submit to view your allotment status.
Subscription Figures for Ravelcare
As per media reports (Link), the Grey Market Premium (GMP) of Ravelcare is reported at ₹40 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 5:00 PM on December 03, 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 3.51 | 547.25 | 155.91x |
| NII | 2.64 | 1985.70 | 752.16x |
| Retail | 6.20 | 2871.00 | 463.06x |
| Total | 12.35 | 5403.95 | 437.57x |