Ravelcare Ltd. IPO

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. Financial Information (Restated)

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 Ended30 Sep 202531 Mar 202531 Mar 202431 Mar 2023
Assets15.6811.638.031.74
Total Income14.4425.3022.283.49
Profit After Tax3.205.265.020.41
EBITDA4.336.826.640.51
NET Worth13.5510.355.100.07
Reserves and Surplus8.545.355.090.07
Total Borrowing  0.040.41
Amount in ₹ Crore

Key Performance Indicator (KPI)

KPI as of Mon, Mar 31, 2025.

KPIValues
ROE68.04%
ROCE68.32%
RoNW50.77%
PAT Margin21.01%
EBITDA Margin27.30%
Price to Book Value6.29
Market Capitalization₹89.17 Cr.
 
 Pre IPOPost IPO
EPS Rs10.509.32
P/E (x)12.3813.95
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 that is available in RHP.

Objects of the Issue (Ravelcare IPO Objectives)

The Company Ravelcare IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

S.No.Objects of the IssueExpected Amount (₹ in crores)
1Marketing and advertisement expenses toward enhancing the awareness and visibility of the brand11.50
2Setting up a new manufacturing facility located at Mauje-Peth in Amravati (“Proposed facility”)7.84
3General Corporate Purposes 

Ravelcare IPO Details

IPO DateDecember 1, 2025 to December 3, 2025
Listing Date[.]
Face Value₹10 per share
Issue Price Band₹123 to ₹130 per share
Lot Size1,000 Shares
Sale TypeFresh Capital
Total Issue Size18,54,000 shares
(aggregating up to ₹24.10 Cr)
Reserved for Market Maker
94,000 shares
(aggregating up to ₹1.22 Cr)
Net Offered to Public17,60,000 shares
(aggregating up to ₹22.88 Cr)
Issue TypeBookbuilding IPO
Listing AtBSE SME
Share Holding Pre Issue50,05,000 shares
Share Holding Post Issue68,59,000 shares

Ravelcare IPO Promoter Holding

Ayush Mahesh Verma is the promoter of the company.

Share Holding Pre Issue99.96%
Share Holding Post Issue 

SHARIAH SCREENING for - Ravelcare Ltd. IPO

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BUSINESS SCREEN

FINANCIAL RATIOS

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