SMR Jewels SME IPO
SMR Jewels IPO — date, price band, GMP & allotment 2026
SMR Jewels is a jewellery company engaged in the designing, manufacturing and trading of gold and diamond jewellery products across different price segments. Founded with a focus on quality craftsmanship and modern designs, the company caters to wholesalers, retailers and end customers through a business model based on product variety and customer relationships. SMR Jewels has built its presence mainly in southern India while also expanding its reach through distribution networks and growing market connections.
Stock price
SMR Jewels is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 13 September.
- Open 26 May 2026
- Close 03 Jun 2026
- Allotment 04 Jun 2026
- Refund/credit 05 Jun 2026
- Listing 08 Jun 2026
Issue summary
The terms of the offer, as filed.
| IPO Dates | 26 May to 3 Jun, 2026 |
|---|---|
| Price Band | ₹125 – ₹128 |
| Face Value | ₹10 |
| Lot Size | 1000 Shares |
| Issue Size | ₹64 Cr |
| Sale Type | Bookbuilding IPO |
| Listing On | BSE SME |
| Registrar | Purva Sharegistry (India) Private Limited |
| Min Investment | ₹ 2,56,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 1000 shares at the ₹128 cut-off. The SME retail application is a fixed 2 lots; HNI starts at 3.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 2 | 2,000 | ₹2,56,000 |
| Retail (max) | 2 | 2,000 | ₹2,56,000 |
| HNI (min) | 3 | 3,000 | ₹3,84,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Strong presence in regional jewellery retail markets with loyal customer base.
- 02Diverse product portfolio including gold, silver, and diamond jewellery offerings.
- 03Growing demand for organised jewellery retailers in tier-2 and tier-3 cities.
- 04Experienced promoters with understanding of jewellery trading and customer preferences.
- 05Asset-light retail and trading business model supports operational flexibility.
Risks · 5
- 01Business highly dependent on fluctuations in gold and precious metal prices.
- 02Intense competition from established national and local jewellery brands.
- 03Revenue concentration from limited geographic regions may affect scalability.
- 04Jewellery sector faces risks from changing consumer demand and economic slowdown.
- 05High working capital requirement due to inventory-heavy nature of jewellery business.
Three years of numbers
All figures in ₹ crore, as reported in the SMR Jewels offer document.
| Metric | 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 |
See how this IPO compares — view listing performance of all SME IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the SMR Jewels RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
SMR Jewels IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹13.26 |
| P/E Ratio (x) | 9.65 |
| Market Cap at Offer Price (₹ Cr) | ₹179.16 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹128 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹85.80 Cr of the issue is earmarked to named objects.
About the company
The company’s product portfolio mainly includes gold ornaments such as necklaces, rings, bangles, chains, earrings, and bridal jewellery. SMR Jewels operates on a business model that combines manufacturing capabilities with distribution and trading operations, allowing it to serve different customer segments efficiently. The promoters of the company bring industry experience and market understanding, supporting business expansion and long-term customer relationships across key jewellery markets in India.
Interested in this IPO? Check the live subscription status or browse all upcoming SME IPOs.
+91079 4941033
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Wealth Mine Networks Pvt.Ltd.
3 issues handledBest listing: Dhanwel Hybrid Seeds (0.0%). Weakest: Seemax Resources (-20.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of SMR Jewels?
The current Grey Market Premium is ₹0.
What is the SMR Jewels IPO price band?
₹125 to ₹128, on a face value of ₹10.
When is the allotment?
The basis of allotment is 4 June 2026, with listing on 8 June 2026.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Purva Sharegistry (India) Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every SME and Mainboard issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
