SMR Jewels IPO
Bookbuilding IPO | ₹67.00 Cr | Listing at BSE SME
Closed
IPO Open
Tue, May 26, 2026
IPO Close
Fri, May 29, 2026
Price Band
₹128.00 to ₹135.00
Market Cap (Pre-IPO)
₹251.83 Cr
IPO Details
| IPO Date | May 26, 2026 to May 29, 2026 |
| Listing Date | Tentative: Jun 03, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹128.00 to ₹135.00 |
| Lot Size | 1000 Shares (Minimum: ₹135,000.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Issue Size | ₹67.00 Crores |
| Total Shares Offered | 4,980,000 shares |
| Fresh Issue | 3,751,000 shares |
| Offer For Sale | 980,000 shares |
SMR Jewels IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 4,73,000 |
| Retail Shares Offered | 23,65,000 |
| NII Shares Offered | 18,93,000 |
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 |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹270,000 |
| Retail (Max) | 2 | 2,000 | ₹270,000 |
| S-HNI (Min) | 3 | 3,000 | ₹405,000 |
| S-HNI (Max) | 7 | 7,000 | ₹945,000 |
| B-HNI (Min) | 8 | 8,000 | ₹1,080,000 |
SMR Jewels Financial Information (Restated Consolidated)
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 85.43 | 43.35 | 15.06 | 21.30 |
| Total Income | 308.72 | 263.25 | 124.52 | 67.53 |
| Profit After Tax | 18.56 | 10.41 | 3.85 | 0.91 |
| EBITDA | 26.71 | 15.17 | 6.14 | 1.96 |
| NET Worth | 42.69 | 24.14 | 4.88 | 1.04 |
| Reserves and Surplus | 28.04 | 19.25 | 4.87 | 1.03 |
| Total Borrowing | 16.54 | 8.57 | 7.65 | 6.33 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 71.76% |
| ROCE (Return on Capital Employed) | 47.92% |
| RoNW (Return on Net Worth) | 43.14% |
| PAT Margin (Profit After Tax Margin) | 3.96% |
| EBITDA Margin | 5.76% |
| Price to Book Value | 2.30 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 7.11 | 13.26 |
| P/E (x) | 19.00 | 10.18 |
| Promoter Holding | 90.37% | 65.74% |
Company Promoters
- Mr. Vismay Manojkumar Soni
- Mr. Jainil Virendra Soni
- Mrs. Parul Manoj Soni
- Mrs. Dipikaben Virendra Soni
- Mrs. Drashti Pal Modi.
Company Overview
SMR Jewels – Company Overview
- Incorporated in 2018, SMR Jewels Limited is engaged in the design and distribution of designer heritage jewellery.
Core Segments
- Designer Heritage Jewellery: Traditional and premium jewellery collections
- Nature-Inspired Jewellery: Designs inspired by flowers, leaves, vines, animals, and seasonal themes
- Traditional Jewellery: Jadtar, Meenakari, Polki, bridal, and festive jewellery collections
- The company focuses on creating jewellery for weddings, festive occasions, and premium fashion markets, catering to both traditional and contemporary preferences.
- SMR Jewels follows an asset-light business model, where manufacturing is outsourced to skilled artisans and craftsmen, while product conceptualization and design are managed in-house.
- Its clientele includes reputed jewellery brands such as Josco Jewellers and other established jewellers across India.
- The company emphasizes heritage craftsmanship, customized designs, and premium jewellery collections.
- As of March 31, 2026, the company had 23 permanent employees, supported by a wider artisan and job-worker network.
Use of Proceeds
| 1) | Funding capital expenditure requirements towards Construction of Jewellery Studio | 6.40 |
| 2) | Funding towards Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks and financial institutions | 6.50 |
| 3) | Funding long-term Working Capital Requirement | 30.00 |
| 4) | Funding expenditure for General Corporate Purposes. | |
| Total | 42.90 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
SMR Jewels IPO Peer Comparison
SMR Jewels peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| SMR Jewels Ltd. | 12.66 | 12.66 | 29.13 | - | 55.00 | - | - |
| Pushpa Jewellers Ltd. | 4.55 | 4.55 | 57.60 | 28.42 | 14.88 | 2.23 | - |
| Khazanchi Jewellers Ltd. | 25.76 | 25.76 | 109.00 | 25.96 | 15.47 | 6.12 | - |
| Sky Gold & Diamonds Ltd. | 9.80 | 9.79 | 66.90 | 30.97 | 10.66 | 6.85 | - |
Quick Info
| Sector | Gem and Jewellery |
| Exchange | BSE SME |
| Market Cap (Pre-IPO) | ₹251.83 Cr |
Important Dates
| IPO Open | May 26, 2026 |
| IPO Close | May 29, 2026 |
| Allotment Date | Jun 02, 2026 |
| Credit to Demat | Jun 01, 2026 |
| Listing Date | Tentative: Jun 03, 2026 |
Lead Manager(s)
Wealth Mine Networks Pvt.Ltd.
Registrar
Purva Sharegistry (India) Pvt.Ltd.
+91-022-23018261/ 23016761
Description
- IPO Type: Book build issue aggregating to ₹67.23 crores.
- Fresh Issue: 0.40 crore shares aggregating to ₹54.00 crores
- Offer for Sale (OFS): 0.10 crore shares aggregating to ₹13.23 crores
- IPO Dates: The issue opens on May 26, 2026 and closes on May 29, 2026.
- Allotment Date: Expected to be finalized on June 1, 2026.
- Listing Details: Shares are proposed to be listed on the SME platform of BSE Limited (BSE SME) with a tentative listing date of June 3, 2026.
- Retail Investment Requirement: Minimum 2 lots (2,000 shares) amounting to approximately ₹2,70,000 (at upper price band).
- HNI Investment Requirement: Minimum 3 lots (3,000 shares) totaling around ₹4,05,000.
- IPO Price Band: ₹128 to ₹135 per equity share.
- Lot Size: 1,000 shares per lot.
This IPO offers investors an opportunity to participate in the jewellery and precious metals sector, subject to market risks.