SMR Jewels IPO- Company Analysis
SMR Jewels IPO under the SME IPO category is a bookbuild issue of Rs. 67.23 Cr by SMR Jewels Limited and creates and distributes designer heritage jewelry.
The company's portfolio also comprises Traditional Jewellery, which includes Jadtar, Meenakari, Polki, and Bridal & Festive collections, and Nature-Inspired Jewellery, which features designs influenced by flowers, leaves, vines, animals, and seasonal motifs. From elaborate heritage sets to modern designs for weddings and celebrations, these works satisfy a wide range of tastes.
While ideation and design are handled internally, SMR Jewels outsources production to talented artisans and craftsmen rather than owning a manufacturing facility.
SMR Jewels IPO Details
The SMR Jewels IPO date of opening is 26 May 2026, its initial public offering will end on 29 May, IPO allotment on Jun 01 and refund initiation on Jun 02, 2026.
The Rs. 67.23 crore new SME IPO comprises a combination of fresh issue of 0.40 crore shares (Rs. 54 Cr) and offer for sale of 0.10 crore shares (Rs. 13.23 Cr).
The SMR Jewels IPO listing date (expected) might be Wednesday, Jun 03, 2026, and listing at the BSE and SME.
The SMR Jewels IPO price band is Rs. 128 to Rs. 135.
IPO Timetable (Tentative)
|
Events |
Date |
|
IPO Opening Date |
May 26, 2026 |
|
IPO Closing Date |
May 29, 2026 |
|
IPO Allotment Date |
Jun 01, 2026 |
|
Refund Initiation |
Jun 02, 2026 |
|
IPO Listing Date |
Jun 03, 2026 |
Click to open demat account and apply for the IPO.
Company Financials
(Amount in Cr)
|
Particulars |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
Assets |
43.35 |
15.06 |
21.30 |
|
Total Income |
263.25 |
124.52 |
67.53 |
|
Profit After Tax |
10.41 |
3.85 |
0.91 |
|
EBITDA |
15.17 |
6.14 |
1.96 |
|
Net Worth |
24.14 |
4.88 |
1.04 |
|
Reserves and Surplus |
19.25 |
4.87 |
1.03 |
|
Total Borrowing |
8.57 |
7.65 |
6.33 |
Cash Flows
(Amount in lac)
|
Net Cash Flow |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
Net Cash Flow Operating Activities |
125.38 |
(105.98) |
(136.69) |
|
Net Cash Flow Investing Activities |
(5.97) |
(7.98) |
(2.35) |
|
Net Cash Flow Financing Activities |
895.06 |
69.81 |
141.97 |
Revenue Bifurcation
(Rs. in Lac)
(Source: RHP)
The Objective of the Issue
The company desires to use the Net Proceeds from the Issue to fulfill its following goals:
-
Funding capital expenditure requirements towards the construction of the Jewellery Studio. ~ Rs. 6.40 Cr.
-
Funding towards Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks and financial institutions. ~ Rs. 6.50 Cr.
-
Funding long-term Working Capital Requirement. ~ Rs. 30 Cr.
-
Funding expenditure for General Corporate Purposes.
-
General Corporate Purposes.
Listed Peers of SMR Jewels Ltd.
|
Name of Company |
Face Value (Rs. ) |
Basic EPS (₹) |
PE Ratio (x) |
|
Pushpa Jewellers Limited |
10 |
4.55 |
28.42 |
|
Khazanchi Jewellers Limited |
10 |
25.76 |
25.96 |
|
Sky Gold & Diamonds Limited |
10 |
9.80 |
30.97 |
Valuation
|
KPI |
Value (Mar 31, 2025) |
|
ROE |
71.76% |
|
ROCE |
47.92% |
|
RoNW |
43.14% |
|
PAT Margin |
3.96% |
|
EBITDA Margin |
5.76% |
|
Price to Book Value |
2.30 |
Evaluation of P/E Ratio
Considering the period ended on FY 2025 with an EPS of Rs. 7.11 from the last year, the resulting P/E ratio is 18.98x.
Explore the Amba Auto Sales & Services IPO.
IPO's Strengths
-
Designer Heritage Jewellery Expertise.
-
Strong Design & Innovation Capabilities.
-
Established B2B Client Network.
IPO's Weaknesses
-
Customer Concentration Risk
-
Raw Material Supply Risk
-
Dependence on Skilled Artisans (Karigars).
SMR Jewels IPO GMP (Grey Market Premium)
SMR Jewels IPO GMP today is Rs. 0, as of 23 May 2026, while writing this information.
SMR Jewels IPO Summary
|
IPO Opening & Closing Date |
26 May, 2026 to 29 May, 2026 |
|
Face Value |
Rs. 10 per Share |
|
Issue Price |
Rs. 128 to Rs. 135 per Share. |
|
Lot Size |
1000 Shares |
|
Issue Size |
49,80,000 Shares (Rs. 67 Cr) |
|
Offer for Sale |
9,80,000 Shares (Rs. 13 Cr) |
|
Fresh Issue |
37,51,000 Shares (Rs. 51 Cr) |
|
Listing at |
BSE, SME |
|
Issue Type |
Bookbuild issue IPO |
|
Registrar |
Purva Sharegistry (India) Pvt. Ltd. |
IPO Lot Details
Retail investors can invest in a minimum and maximum of 2 Lots (2000 Shares) for Rs. 2,70,000, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (3000 Shares) for Rs. 4,05,000.
|
Minimum Lot Investment (Retail) |
2 Lots |
|
Maximum Lot Investment (Retail) |
2 Lots |
|
HNI (Min) |
3 Lots |
SMR Jewels IPO Allotment Status
To check the SMR Jewels IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management of SMR Jewels Ltd.
-
Mr. Vismay Manojkumar Soni
-
Mr. Jainil Virendra Soni
-
Mrs. Parul Manoj Soni
-
Mrs. Dipikaben Virendra Soni
-
Mrs. Drashti Pal Modi
|
Pre-Issue Promoter Shareholding |
90.37% |
|
Post-Issue Promoter Shareholding |
65.74% |
IPO Lead Managers
Wealth Mine Networks Pvt. Ltd.
Dividend Policy
The company has not paid a dividend since its inception.
Conclusion
The SMR Jewels IPO is a ₹67.23 Cr SME bookbuild offering with a price range of ₹128–₹135. The company specializes in designing heritage jewelry and has a robust B2B clientele and in-house design skills. Although the company's revenue and profit have increased significantly, applicants should take into account potential risks such as customer concentration, reliance on skilled artisans, and reliance on raw material supply.
Other Related Blogs:- Merritronix IPO, SMR Jewels
Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
You must consult your financial advisor before making any financial decisions.
To Apply for the IPO, Click Here.
To Read the Prospectus of the Company Click Here to Download the DRHP.
Click Here To Stay Updated With The Upcoming IPOs.
DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.
