Ahmedabad-based SMR Jewels Ltd is set to launch its initial public offering (IPO) on the BSE-SME platform on May 26, seeking to raise ₹67.23 crore through a combination of fresh capital and an offer for sale (OFS) by existing shareholders.
The IPO consists of a fresh issue of up to ₹54 crore and an OFS totaling up to ₹13.23 crore, resulting in a total issue size of 4,980,000 shares, according to company disclosures. The price band for the shares has been established at ₹128 to ₹135 each, with a face value of ₹10. The issue will remain open until May 29, and investors must bid for a minimum lot of 2,000 shares.
The net proceeds from the fresh issue are intended for various purposes, including capital expenditures for building a jewellery studio, repaying or prepaying specific borrowings, and supporting long-term working capital needs, in addition to general corporate objectives.
SMR Jewels specializes in the design, manufacturing, and marketing of gold jewellery, catering to diverse customer segments while melding traditional craftsmanship with modern designs. The company has developed expertise in jewellery design, product development, and customer service, positioning itself within the organized jewellery market.
In the fiscal year 2025, SMR Jewels reported revenue from operations of ₹263.25 crore, a significant increase from ₹124.52 crore in fiscal year 2024. Profit after tax also rose to ₹10.41 crore from ₹3.84 crore during the same timeframe.
The article was published on May 20, 2026.
