SMR Jewels IPO
SMR Jewels IPO
Overview
SMR Jewels IPO is a book build issue of ₹67.23 crores. The issue is a combination of fresh issue of 0.40 crore shares aggregating to ₹54.00 crores and offer for sale of 0.10 crore shares aggregating to ₹13.23 crores. SMR Jewels IPO opens for subscription on May 26, 2026 and closes on May 29, 2026. The allotment for the SMR Jewels IPO is expected to be finalized on Jun 1, 2026. SMR Jewels IPO will list on the BSE SME with a tentative listing date fixed as Jun 3, 2026. SMR Jewels IPO is set issue price band at ₹128 to ₹135 per share. The lot size for an application is 1,000 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,70,000 (2,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,000 shares), amounting to ₹4,05,000. Wealth Mine Networks Pvt.Ltd. is the book running lead manager and Purva Sharegistry (India) Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Rikhav Securities Ltd.
Total Shares
49,80,000
Issue Size
₹67 Cr
Price Band
₹128 – ₹135
Lot Size
1000 shares
Min. Investment
₹2,70,000
Max. Investment
₹2,70,000
Open Date
26 May, 2026
Close Date
29 May, 2026
Allotment
01 Jun, 2026
Listing
03 Jun, 2026
Max. Investment
₹2,70,000
Announced
26 May, 2026
Opening Date
26 May, 2026
Closing Date
29 May, 2026
Basis of Allotment
01 Jun, 2026
Initiation of Refunds
02 Jun, 2026
Credit of Shares
02 Jun, 2026
Listing Date
03 Jun, 2026
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About SMR Jewels IPO
Incorporated in 2018, SMR Jewels Limited is engaged in the design and distribution of Designer Heritage Jewellery.
The company’s portfolio also includes Nature-Inspired Jewellery, reflecting designs influenced by flowers, leaves, vines, animals, and seasonal motifs, and Traditional Jewellery, comprising Jadtar, Meenakari, Polki, and Bridal & Festive collections. These creations cater to diverse preferences, from ornate heritage sets to contemporary designs for weddings and festivals
SMR Jewels IPO Share Price
Issue Breakdown
Shareholding
Dilution: 27.3% increase in shares
SMR Jewels IPO Financial Health
SMR Jewels IPO Lot Size
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2000 | ₹2,70,000 |
| Individual investors (Retail) (Max) | 2 | 2000 | ₹2,70,000 |
| S-HNI (Min) | 3 | 3000 | ₹4,05,000 |
| S-HNI (Max) | 7 | 7000 | ₹9,45,000 |
| B-HNI (Min) | 8 | 8000 | ₹10,80,000 |
(All values in CR)
SMR Jewels IPO Valuations
| Metric | Value |
|---|---|
| ROE | 55.52 |
| ROCE | 50.18 |
| RoNW | 43.54 |
| PAT Margin | 6.01 |
| EBITDA Margin | 8.65 |
| Price to Book Value | 4.63 |
(All values in CR)
SMR Jewels IPO Strength & Risk
SMR Jewels IPO – Strength
- Strong revenue growth and improving profitability
- Asset-light business model helps reduce capital expenditure
- Specialised in designer heritage and traditional jewellery
- Diverse product portfolio including Polki, Meenakari, Jadtar, and bridal jewellery
- Strong in-house design capabilities with a large design database
- Established relationships with retailers, boutiques, and jewellery chains
- Moderate debt levels compared to many SME jewellery companies
- Expanding market presence through exhibitions and digital platforms
- Experienced promoters and skilled artisan network
- Growing demand for premium and heritage jewellery in India
SMR Jewels IPO – Risk
- SME IPO carries high volatility and low liquidity risk
- Grey Market Premium (GMP) currently weak or nil
- Thin profit margins despite strong revenue growth
- Dependence on third-party artisans and outsourced manufacturing
- Customer concentration risk from top buyers
- Gold price fluctuations can impact margins and working capital
- Part of the IPO is Offer For Sale (OFS), where existing shareholders are selling shares
- Business heavily dependent on Gujarat region operations
- Jewellery designs are not strongly protected from copying
- Short operating history compared to established jewellery brands
- Any disruption in raw material supply may affect operations
SMR Jewels IPO GMP
Last updated 21 May, 2026 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 21 May, 2026 | 135 | ₹0 | - | ₹135 (0.00%) | - | 21 May, 2026 |
| 20 May, 2026 | 135 | ₹0 | - | ₹135 (0.00%) | - | 20 May, 2026 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for SMR Jewels IPO
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Go to IPO Section
Find SMR Jewels IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Provide your UPI ID linked to your bank account and submit the application.
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Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.