SMR Jewels IPO
LISTEDSMEListing Performance
▼ 19.57%
Issue Price
₹128
Listing Price
₹103
Listed On
08 Jun 2026
- Price Band
- ₹125 – ₹128
- Lot Size
- 1,000
- Lot Value
- ₹1,28,000
- Open Date
- 26 May26 May 2026
- Close Date
- 03 Jun03 Jun 2026
- Min Investment
- ₹1,28,000
About SMR Jewels
SMR Jewels is a designer heritage jewellery company specializing in blending traditional artistry such as Jadtar, Meenakari and Polki with theme-based, bridal festive, nature-inspired and daily-wear collections. The company derives approximately 99% of revenue from goods manufactured.
The company manufactures and sells designer heritage jewellery to a concentrated customer base, with approximately 60% of revenue coming from top ten customers.
Use of IPO Proceeds
Total allocation: ₹42.90 Cr (excludes issue expenses)
Promoters
Mr. Vismay Manojkumar Soni
Managing Director
Post-issue: 12.5%
Mr. Jainil Virendra Soni
Whole Time Director
Post-issue: 8.05%
Mrs. Parul Manoj Soni
Non-Executive Director
Mrs. Dipikaben Virendra Soni
Non-Executive Director
Mrs. Drashti Pal Modi
Chief Financial Officer
Investment Analysis
Quick Analysis: 6 strengths · 6 risk factors· Exchange: BSE SME
Strengths (6)
- •Designer Heritage Jewellery blending India's cultural traditions with modern aesthetics
- •Wide diversified product portfolio across multiple customer segments and geographies
- •Strong in-house design capabilities with contemporary CAD modelling and customization
- •Experienced promoter with three-generation family legacy in jewellery business
- •Robust B2B network with prestigious client base including leading Indian brands
- •BIS Hallmark certified jewellery ensuring quality and consumer confidence
Risk Factors (6)
- •First public offer with no formal market for equity shares; price may not be indicative of post-listing trading price
- •Investment in equity shares involves high degree of risk; investors may lose entire investment
- •No assurance of active or sustained trading in equity shares after listing on BSE SME
- •Company's business dependent on jewelry industry demand and consumer spending patterns
- •Regulatory changes in jewelry sector and hallmarking requirements could impact operations
- •Competition from organized and unorganized jewelry retailers may affect market share
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- Subscribed 0.42x (QIB 2.35x, NII 0.17x, Retail 0.26x), as of 29 May 2026, 05:00 PM IST; final figures not on file
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (1 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,28,000 |
| Retail (max) | 1 | 1,000 | ₹1,28,000 |
| S-HNI (min) | 2 | 2,000 | ₹2,56,000 |
| S-HNI (max) | 7 | 7,000 | ₹8,96,000 |
| B-HNI (min) | 8 | 8,000 | ₹10,24,000 |
Subscription Status
| Category | Day 1 | Day 2 | Day 3 | Day 4 |
|---|---|---|---|---|
| QIB | 2.35x | 2.35x | 2.35x | 2.35x |
| sNII (S-HNI) | — | — | — | — |
| bNII (B-HNI) | — | — | — | — |
| Retail | 0.02x | 0.06x | 0.06x | 0.26x |
| Total | 0.23x | 0.30x | 0.30x | 0.42x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
0.26x
Allotment Ratio
Full allotment
Allotment Probability
~100.0%
Non-Institutional Investors (NII / HNI)
Subscription
0.17x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
2.35x
Allotment Type
Discretionary allotment
Total Subscription
0.42x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
26 May 2026 · Tue
Issue Closes
03 Jun 2026 · Wed
Bidding Cut-off (UPI Mandate)
03 Jun 2026 · 5:00 PM IST
Allotment
04 Jun 2026 · Thu
Listing
08 Jun 2026 · Mon
Issue Opens
26 May 2026 · Tue
Issue Closes
03 Jun 2026 · Wed
Bidding Cut-off (UPI Mandate)
03 Jun 2026 · 5:00 PM IST
Allotment
04 Jun 2026 · Thu
Listing
08 Jun 2026 · Mon
IPO Details
| Registrar | Purva Sharegistry (India) Pvt.Ltd. |
| Exchange | BSE SME |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹64.00 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | Wealth Mine Networks Limited |
3-Year Financial Summary
Revenue trend
↑ FY23→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 263.25 | 10.41 | 7.11 | — | 43.14% |
| FY24 | 124.52 | 3.85 | — | — | — |
| FY23 | 67.53 | 0.91 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 | FY25 |
|---|---|---|---|
| EBITDA | 1.96 | 6.14 | 15.17 |
| Net Worth | 1.04 | 4.88 | 24.14 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
18.0x
Price ÷ EPS
EPS (FY25)
₹7
Earnings per share
RoNW
43.14%
Return on net worth
ROCE
47.92%
as reported in filing
EBITDA margin
5.8%
EBITDA ÷ revenue
Price/NAV
7.77x
Price ÷ NAV (as reported)
Check the valuation yourself
Company Fundamentals
10 sections extracted from this filingCapital Structure
Capital structure not disclosed in this filing.The capital-structure table was not found in SMR Jewels's offer document (common in abridged prospectuses).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in SMR Jewels's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in SMR Jewels's filing.
Source: SMR Jewels offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
- Mrs. Parul Manoj Soni3,50,000 sh
- Mrs. Dipikaben Virendra Soni3,50,000 sh
- Mr. Vismay Manojkumar Soni1,40,000 sh
- Mrs. Drashti Pal Modi50,000 sh
- Mrs. Bhanumati Ramanlal Parekh30,000 sh
- Mr. Soni Mitul Virendra30,000 sh
- Mrs. Soni Niharika Vismay30,000 sh
Source: SMR Jewels offer document (DRHP/RHP).
Board & Management
Board of Directors (6)
- Mr. Vismay Manojkumar Soni₹0.24 Cr p.a.
Managing Director
MBA in Integrated Management Course
More than 12 years of experience in the gems & Jewellery Business
- Mr. Jainil Virendra Soni₹0.09 Cr p.a.
Whole-Time Director
- Mrs. Parul Manoj Soni
Non-Executive Director
- Mrs. Dipikaben Virendra Soni
Non-Executive Director
- Ms. Ruta Rohankumar Soni
Independent Director
- Mrs. Nishita M. Sanghavi
Independent Director
Key Managerial Personnel (5)
- Mr. Vismay Manojkumar Soni₹0.24 Cr p.a.
Managing Director
MBA in Integrated Management Course
More than 12 years of experience in the gems & Jewellery Business
- Mr. Jainil Virendra Soni₹0.09 Cr p.a.
Whole Time Director
- Mrs. Drashti Pal Modi
Chief Financial Officer
- Ms. Sangita Rajpurohit
Company Secretary
- Mr. Mukesh Patel₹0.07 Cr p.a.
Senior Managerial Personnel - Manager
HSC
Working with the Company as Manager since January 2019
Source: SMR Jewels offer document (DRHP/RHP).
Industry & Market
Industry figures as stated in SMR Jewels's offer document.
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| SMR Jewels Limited | — | — | — | — |
Material Litigation
| Type | Against | Matters | Amount (₹Cr) |
|---|---|---|---|
| Tax | Promoters | 1 | 2.34 |
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Purva Sharegistry (India) Pvt.Ltd.→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the SMR Jewels IPO opening?
The SMR Jewels IPO opens on 26 May 2026 and closes on 03 Jun 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the SMR Jewels IPO?
The price band for the SMR Jewels IPO is ₹125 to ₹128. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the SMR Jewels IPO?
The minimum lot size is 1000 shares with a minimum investment of ₹1,28,000. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of SMR Jewels IPO today?
Grey Market Premium data for SMR Jewels is not available yet. It typically starts appearing a few days before the IPO opens.
When will the SMR Jewels IPO list on NSE and BSE?
The SMR Jewels IPO is expected to list on 08 Jun 2026 on BSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the SMR Jewels IPO allotment status?
The registrar for this IPO is Purva Sharegistry (India) Pvt.Ltd.. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the SMR Jewels IPO a mainboard or SME issue?
SMR Jewels is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the SMR Jewels IPO?
You can apply for the SMR Jewels IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the allotment ratio for SMR Jewels IPO?
Based on the retail subscription of 0.26x, all retail applicants are expected to receive full allotment for the SMR Jewels IPO.
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