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SMR Jewels IPO
Price Band
₹125.0–128.0
Issue Size
₹63.74 Cr
Lot Size
1,000 shares
Min Investment
₹256,000
2 LOTS MIN
GMP
—
Issue Price
₹128.0
SMR Jewels IPO AI Summary
- SMR Jewels IPO is listed on BSE SME in the Gems, Jewellery And Watches sector.
- Price band: ₹125.0–₹128.0 per share, lot size 1,000 shares (min. investment ₹256,000, 2 lots minimum).
- Subscription window: 26 May–03 Jun 2026, listing on 08 Jun 2026.
SMR Jewels Limited is set to launch its IPO with a price band of ₹125.0 to ₹128.0, targeting a total issue size of ₹63.74 Cr. The company has shown significant growth in total income and profit after tax over recent periods, reflecting a robust business model focused on heritage jewellery design and distribution.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Subscription data unavailable
SMR Jewels IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in 2018, SMR Jewels Limited is engaged in the designing and distribution of designer heritage jewellery, offering a range of intricately crafted pieces for weddings, festive occasions, and traditional wear. The company’s jewellery portfolio includes heritage collections along with nature-inspired designs influenced by flowers, leaves, vines, animals, and seasonal elements. It also offers traditional jewellery styles such as Jadtar, Meenakari, Polki, as well as bridal and festive collections, catering to a wide range of customer preferences from classic to contemporary aesthetics. SMR Jewels follows an asset-light business model and does not operate its own manufacturing facility. The production process is outsourced to a network of skilled artisans and craftsmen, while product conceptualization, design development, and collection planning are handled internally by the company. The company serves a reputed customer base of jewellers across India, including HSJ, Rokde Jewellers, WHP, JOSCO Jewellers, Kalamandir Jewellers, Vaibhav Jewellers, and D. P. Abhushan Limited. As of June 30, 2025, SMR Jewels Limited had 20 permanent employees, supported by an extended network of artisans and job workers involved in jewellery production.
Company Financials (₹ Cr)
As of 2025-12-31
| 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 |
Key Ratios
EPS
₹7.11
NAV
₹58.57
ROE
71.76%
ROCE
47.92%
RoNW
43.14%
P/B Value
2.19
P/E Ratio
18.01
Market Cap
₹238.77 Cr
PAT Margin
3.96%
Promoters
Vismay Manojkumar Soni, Jainil Virendra Soni, Parul Manoj Soni, Dipikaben Virendra Soni and Drashti Pal Modi
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 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. 5.02 5 Offer expenses 4.08 Total 52.00
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income increased from ₹67.53 Cr for the period ending 31 Mar 2023 to ₹124.52 Cr by 31 Mar 2024, and then rose further to ₹263.25 Cr by 31 Mar 2025. Most recently, total income reached ₹308.72 Cr as of 31 Dec 2025.
Profit Trend
Profit after tax grew from ₹0.91 Cr for the period ending 31 Mar 2023 to ₹3.85 Cr by 31 Mar 2024, then increased to ₹10.41 Cr by 31 Mar 2025. As of 31 Dec 2025, profit after tax reached ₹18.56 Cr.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of shares before they are listed on the stock exchange. Grey market premium (GMP) is the difference between the expected listing price and the issue price. A positive GMP indicates strong demand and may suggest potential listing gains.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's important to consider the company's fundamentals and market conditions.
Who May Want to Wait
Investors with a low-risk appetite or those who prefer stable, established companies may want to avoid this IPO. Additionally, those uncomfortable with the jewellery sector's market dynamics should consider other investment options.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on 26 May 2026 and closes on 3 June 2026. Allotment of shares will be done on 4 June 2026, followed by the listing on the stock exchange on 8 June 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares are listed on the stock exchange at a price higher than the issue price. However, these gains are not guaranteed, and market conditions can lead to fluctuations in stock prices post-listing.
This evaluation is generated from SMR Jewels's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of SMR Jewels IPO?
The price band of SMR Jewels IPO is ₹125.0–₹128.0 per share.
When does SMR Jewels IPO open and close?
SMR Jewels IPO opens on 26 May 2026 and closes on 03 June 2026.
When does SMR Jewels IPO list on the stock exchange?
SMR Jewels IPO listed on 08 June 2026 at ₹128.0.
What is the lot size for SMR Jewels IPO?
The lot size for SMR Jewels IPO is 1000 shares, requiring a minimum investment of ₹256,000 (2 lots).
What is the price band for the SMR Jewels IPO?
The price band for the SMR Jewels IPO is ₹125.0 to ₹128.0.
What is the minimum investment required?
The minimum investment required is ₹256,000.
When does the IPO open and close?
The IPO opens on 26 May 2026 and closes on 3 June 2026.
What is the lot size for the SMR Jewels IPO?
The lot size for the SMR Jewels IPO is 1000 shares.
What does GMP mean?
GMP stands for Grey Market Premium, indicating the expected demand for the IPO shares before they are officially listed.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
26 May 2026
Close
03 Jun 2026
Allotment
04 Jun 2026
Listing
08 Jun 2026
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