News
IGJS Jaipur 2025 bolsters global connections amidst mounting trade challenges
Against a backdrop of mounting trade challenges, India’s gem and jewellery exporters gathered in Jaipur for the International Gem & Jewellery Show (IGJS) 2025, an exclusive export-focused event organized by the Gem & Jewellery Export Promotion Council (GJEPC). Held from April 3 to 5, the show drew 50 of India’s leading exporters and more than 180 international buyers from 28 countries, reinforcing Jaipur’s status as a pivotal hub in the global jewellery trade.
The show, hosted at the Novotel Jaipur Exhibition and Convention Centre, spotlighted the city’s long-standing reputation for integrated craftsmanship — where stone-cutting and jewellery manufacturing coexist within the same business ecosystem. For many international buyers, this “one-stop-shop” model remains a key draw.
Still, the atmosphere wasn’t without tension. The recent imposition of U.S. tariffs — ranging between 26% and 27% on Indian jewellery exports — loomed large over business discussions. Exporters expressed concern over the long-term implications for price-sensitive markets like the United States, which has traditionally been a top destination for Indian jewellery.
“Tariffs were the biggest talking point on the floor,” said one Jaipur-based exporter. “We’re now discussing cost-sharing models with our U.S. partners, looking to absorb the blow across the supply chain — from exporters to retailers to end consumers.”
Repeat buyers remained a bright spot, with several exhibitors reporting continued interest and steady orders from long-standing clients. But many acknowledged a pressing need to attract larger retail chain buyers, particularly as global trade routes shift.
In response to the evolving trade landscape, exporters are eyeing alternative markets such as Dubai and Saudi Arabia, regions with strong demand and more favorable trade terms. Industry stakeholders also pointed to the India-Australia Economic Cooperation and Trade Agreement (ECTA) as a promising channel for diversifying export destinations.
Despite challenges, the sentiment remained broadly optimistic. The GJEPC announced plans to significantly scale the show in 2026, targeting over 500 global buyers and more than 150 exhibitors, a move intended to elevate the show’s global standing and deepen its influence in the international marketplace.
At its core, IGJS Jaipur 2025 underscored themes of resilience, adaptability, and strategic collaboration — with industry players focused on navigating shifting trade dynamics while continuing to showcase the strength of Indian craftsmanship.
National News
SMR Jewels Limited’s IPO To Open On May 26, 2026, Price Band Set At ₹ 128 – ₹ 135 Per Equity Share
The Floor Price Is 12.8 Times The Face Value Of The Equity Shares and The Cap Price Is 13.5 Times The Face Value Of The Equity Shares.
SMR Jewels Limited (“Company”) has announced the price band of Rs. 128 to Rs. 135 per Equity Share of face value ₹10 each for its Initial Public Offer of Equity Shares (“IPO” or “Issue”).
The IPO will open on Tuesday, May 26, 2026, for subscription and close on Friday, May 29, 2026.
Investors can bid for a minimum of 2,000 Equity Shares and in multiples of 1,000 Equity Shares thereafter.
The Initial Public Offering comprises a Fresh Issue of 40,00,000 Equity Shares and an Offer for Sale of 9,80,000 Equity Shares by the Selling Shareholders aggregating up to 49,80,000 Equity Shares.
The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the SME Platform of BSE Limited (“BSE SME”). For the purposes of the Offer, BSE Limited shall be the Designated Stock Exchange.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards (working capital requirements / funding capital expenditure requirements / repayment of borrowings / general corporate purposes).
SMR Jewels Limited is engaged in the business of designing, manufacturing and marketing gold jewellery products catering to diverse customer preferences and market segments. The Company focuses on blending traditional craftsmanship with contemporary jewellery offering a wide range of jewellery products and focuses on product quality and customer relationships.
The Company operates primarily from Ahmedabad, Gujarat and has developed capabilities across jewellery design, product development and customer servicing. The Company believes its understanding of regional preferences, product quality and customer relationships position it favourably within the organised jewellery market.
The Promoters of the Company are Mr. Vismay Manojkumar Soni, Mr. Jainil Virendra Soni, Mrs. Parul Manoj Soni, Mrs. Dipikaben Virendra Soni and Mrs. Drashti Pal Modi.
The Company’s revenue from operations increased from Rs. 6,752.78 Lakhs in Fiscal 2023 to Rs. 12,452.30 Lakhs in Fiscal 2024, while its profit after tax increased from Rs. 90.94 Lakhs in Fiscal 2023 to Rs. 384.51 Lakhs in Fiscal 2024. Further, revenue from operations increased from Rs. 12,452.30 Lakhs in Fiscal 2024 to Rs. 26,325.18 Lakhs in Fiscal 2025, while profit after tax increased from Rs. 384.51 Lakhs in Fiscal 2024 to Rs. 1,041.23 Lakhs in Fiscal 2025. Additionally, for the period ended December 2025, the Company reported revenue from operations of Rs. 30,872.01 Lakhs and profit after tax of Rs. 1,855.50 Lakhs.
Wealth Mine Networks Limited is the Book Running Lead Manager to the Issue and Purva Sharegistry (India) Private Limited is the Registrar to the Issue.
The Issue is being made through the Book Building Process in terms of Chapter IX of the SEBI (ICDR) Regulations, wherein not more than 50% of the Net Issue shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Net Issue shall be available for allocation to Non-Institutional Investors and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Investors.
SMR Jewels Limited’s IPO To Open On May 26, 2026, Price Band Set At ₹ 128 – ₹ 135 Per Equity Share
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