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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.

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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.

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National News

GJS 2026 Diwali Edition Concludes On A High Note With Record Sales

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The All India Gem & Jewellery Domestic Council (GJC) successfully concluded the landmark 10th edition of the India Gem & Jewellery Show (GJS 2026 Diwali Edition), celebrated as #HumaraApnaShow, at the Jio World Convention Centre, Mumbai. From October 2–4, 2026, the exhibition reaffirmed its position as India’s most premium B2B jewellery platform, bringing together over 400 exhibitors, 700+ booths, and thousands of buyers and industry leaders from across India and abroad.

The show began on October 1, 2026, with the Elite Family Jewellers Meet & Business Workshop, led by India’s leading business coach Rahul Jain, designed exclusively for jewellery business owners and their families. The workshop provided participants with strategies on growth, profitability, leadership, and customer acquisition, setting the stage for an enriching exhibition.

The show was inaugurated on October 2, 2026, by Chief Guest Shri Uday Samant Ji, Cabinet Minister for Industries and Marathi Language, Government of Maharashtra, who lauded GJS as a platform that reflects the strength, creativity, and resilience of India’s jewellery industry. He emphasized Maharashtra’s role as a hub for trade and craftsmanship, noting that GJS showcases how tradition and innovation can come together to drive growth. His words set the tone for an inspiring edition that celebrated both heritage and modernity.

Guest of Honour Srinivas Injeti, Chairman NSE and Chairman of the board IAGES, Mahesh Jain, President, UP Sarafa Association, and Special Guest Rajiv Jain, Chairman, Jaipur Jewelley Show along with members of the GJC Committee of Administration and other senior industry leaders, underscoring the collective strength and unity of India’s jewellery fraternity.

On October 3, the prestigious National Jewellery Awards (NJA) 2026, presented by the World Gold Council and powered by India Gold Metaverse, honoured excellence across categories. The evening was graced by Bollywood star Sonakshi Sinha, who presented awards to the winners, adding glamour and recognition to the industry’s most coveted celebration.

Throughout the three days, GJS hosted MindSpeak Seminars, covering diverse topics across all aspects of the jewellery business — from sustainable practices and digital transformation to consumer trends, family business strategies, and the growing role of Artificial Intelligence (AI) in design, retail, and customer engagement. These sessions empowered jewellers with insights to adapt to evolving market dynamics and embrace technology-driven growth.

The exhibition also showcased exclusive collections ranging from lightweight contemporary designs to heritage-inspired masterpieces, lab-grown diamond innovations, and couture jewellery.

Rajesh Rokde, Chairman of GJC, said:

“The successful conclusion of the 10th edition of GJS is a proud moment for India’s jewellery industry. From the grand inauguration led by Shri Uday Samant Ji to the NJA awards presented by Sonakshi Sinha, this edition has set new benchmarks in innovation, networking, and business growth. The record sales figures highlight the resilience of our industry and the trust consumers place in Indian craftsmanship.”

Avinash Gupta, Vice Chairman of GJC, remarked:

“GJS2026 has proven to be the ultimate sourcing destination for jewellers nationwide. The strong participation, exclusive collections, and vibrant sales reflect the industry’s ability to balance heritage with modernity. The NJA awards further reinforced the industry’s credibility by honouring talent and innovation, making this edition truly memorable.”

Saiyam Mehra, Convenor of GJS and GJC NEXTGEN and Past Chairman of GJC, added:

“This edition of GJS was more than an exhibition—it was a celebration of resilience, creativity, and opportunity. As Convenor of GJS, I am proud to see how these platforms together showcased innovation, honoured excellence, and inspired the industry to embrace the future with confidence. The seminars, awards, and unique showcases have strengthened our collective vision for India’s jewellery sector as a global hub of excellence.”

The 10th edition of GJS concluded with resounding success, leaving behind a legacy of innovation, collaboration, and celebration that will continue to inspire the jewellery industry in the years to come.

Uday Samant, Cabinet Minister for Industries and Marathi Language, Government of Maharashtra, unveiled the JewelBuzz GJS Diwali Edition Special Issue, featuring Rajesh Rokde, Chairman, GJC, on the cover.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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