Ravelcare Limited is a digital-first beauty and personal care (BPC) brand focused on delivering scientifically formulated, personalized solutions across haircare, skincare, bodycare, and scalp care. Built on a strong Direct-to-Consumer (D2C) foundation, the brand combines technology, data-driven product development, and digital commerce to cater to evolving consumer preferences.
Ravelcare operates primarily through:
- Its own website, which serves as the central hub for personalized consultations and product recommendations.
- Leading e-commerce marketplaces such as Amazon, Flipkart, and Myntra.
- Rapidly growing quick-commerce platforms like Blinkit are enabling faster delivery in major cities.
In FY 2024–25, the company expanded its footprint into global markets, serving customers in the UAE, Australia, Canada, Germany, the USA, and Saudi Arabia, marking the beginning of its international D2C expansion.
Ravelcare oversees logistics and warehousing across central India to ensure timely delivery, while relying on licensed third-party manufacturers and maintaining strict control over formulations and quality through external labs.
Ravelcare plans to set up an integrated manufacturing facility at Mauje-Peth, Amravati, Maharashtra, with a proposed capacity of 1,050 TPA. The facility will house in-house R&D, manufacturing, processing, packaging, and warehousing operations under one roof, enabling better quality control, improved margins, and reduced reliance on third-party manufacturers.
Ravelcare offers a wide and fast-growing range of products across four major categories, with a strong emphasis on customization:
- Haircare: Shampoos, conditioners, masks, oils, and serums for concerns like hair fall, frizz, and damage—supported by digital hair analysis for personalized routines.
- Skincare: Cleansers, serums, moisturizers, sunscreens, and treatments for acne, pigmentation, dryness, and sensitivity, customized through digital skin assessments.
- Bodycare: Hydrating body washes, nourishing lotions, and barrier-repair creams for dryness, sensitivity, and dullness.
- Scalp Care: Anti-dandruff leave-ons, growth serums, scalp tonics, and hair fall control ampoules targeting dandruff, flaking, buildup, and chronic hair fall.
As of June 30, 2025, Ravelcare employs 25 professionals across product development, marketing, operations, logistics, customer support, and corporate functions.
Ravelcare IPO – Details
| IPO Opening Date | 01 December 2025 |
| IPO Closing Date | 03 December 2025 |
| Issue Type | Bookbuilding IPO |
| Issue Size | Total Issue: 18,54,000 Shares Worth ₹24.10 Crore Fresh Issue: 18,54,000 Shares Worth ₹24.10 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹123 – ₹130 per share |
| Market Lot | 1000 Shares |
| Min Order | 1000 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | Kfin Technologies Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Ravelcare IPO – Date Schedule
| IPO Open Date | 01 December 2025 |
| IPO Close Date | 03 December 2025 |
| Basis of Allotment | 04 December 2025 |
| Initiation of Refund | 05 December 2025 |
| Credit of Shares to Demat | 05 December 2025 |
| IPO Listing Date | 08 December 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 03, 2025 |
Ravelcare IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2000 | ₹2,60,000 |
| Retail (Max) | 2 | 2000 | ₹2,60,000 |
| S-HNI (Min) | 3 | 3000 | ₹3,90,000 |
| S-HNI (Max) | 7 | 7000 | ₹9,10,000 |
| B-HNI (Min) | 8 | 8000 | ₹10,40,000 |
Competitive Strength
- Diversified customer base having a wide geographic presence.
- Digital Distribution Channel.
- Strong Customer relationships.
- Product Innovations.
Company Promoters
- Ayush Mahesh Verma
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹3.49 Cr | ₹2.99 Cr | ₹0.41 Cr | ₹0.41 Cr |
| 31 March 2024 | ₹22.28 Cr | ₹15.47 Cr | ₹5.02 Cr | ₹0.04 Cr |
| 31 March 2025 | ₹25.30 Cr | ₹18.26 Cr | ₹5.26 Cr | – |
| 30 September 2025 | ₹14.44 Cr | ₹10.11 Cr | ₹3.20 Cr | – |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 68.04% |
| ROCE | 68.32% |
| RoNW | 50.77% |
| PAT Margin | 21.01% |
| EBITDA Margin | 27.30% |
| Price to Book Value | 6.29 |
| Market Capitalization | ₹89.17 Cr. |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.50 | 9.32 |
| P/E (x) | 12.38 | 13.95 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Marketing and advertisement expenses toward enhancing the awareness and visibility of the brand. | ₹11.50 |
| Setting up a new manufacturing facility located at Mauje-Peth in Amravati (“Proposed facility”). | ₹7.84 |
| General Corporate Purposes. | – |
✅Strengths
- Wide customer base & pan-India presence.
- Strong digital-first D2C model (website, marketplaces, quick-commerce).
- Diversified product portfolio across haircare, skincare, bodycare & scalp care.
- High customer engagement & growing repeat orders.
- International footprint in the UAE, USA, Australia, Canada, Germany & Saudi Arabia.
⚠️Risks
- Heavy dependence on haircare products for revenue.
- Reliance on website & digital marketing for sales.
- Risks of delay/cost overruns in proposed manufacturing facility.
- Promoter lacks manufacturing experience.
- No major insurance coverage for operational risks.
- Trademarks opposed/under objection—possible IP issues.
- Past negative cash flows impacting liquidity.
- Intense market competition from larger brands.
Ravelcare IPO Promoter Holding
| Pre Issue Share Holding | 99.96% |
| Post Issue Share Holding | – |
Ravelcare IPO Prospectus
Company Contact Information
| Ravelcare Ltd. Off-126, Neo Corporate Plaza Cabin B, Ramchandra Lane Extension Malad, Mumbai Malad, Maharashtra, 400064 Phone: +91 87792 06822 Email: pragya@ravelcare.com Website: http://www.ravelcare.com/ |
Ravelcare IPO Registrar
| Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: ravelcare.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
Ravelcare IPO Lead Manager(s)
| 1. Marwadi Chandarana Intermediaries Brokers Pvt.Ltd. |
Ravelcare IPO FAQ
| What is Ravelcare IPO? Ravelcare IPO is an SME IPO. The issue is priced at ₹123 – ₹130 per equity share. The IPO is to be listed on BSE SME. |
| When Ravelcare IPO will open? The IPO is to open on 01 December 2025 for QIB, NII, and Retail Investors. |
| What is Ravelcare IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Ravelcare IPO Size? Ravelcare IPO size is ₹24.10 Crore. |
| What is Ravelcare IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 2000 Shares with ₹2,60,000 amount, while the maximum bid is 2000 Shares with ₹2,60,000. |
| What is the Ravelcare IPO Allotment Date? Ravelcare IPO allotment date is 04 December 2025. |
| What is the Ravelcare IPO Listing Date? Ravelcare IPO listing date is 08 December 2025. The IPO is to be listed on the BSE SME. |
