SMR Jewels Limited
Bookbuilding IPO · BSE
- Price band
- ₹125 – ₹128
- Lot size
- 1,000 shares
- Issue amount
- ₹63.74 cr
- Total subscription
- 1.14×
- Opens
- 26 May 2026
- Closes
- 3 Jun 2026
- Allotment
- 4 Jun 2026
- Listing
- 8 Jun 2026
Offer at a glance
Issue overview
- Issue size
- 49,80,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,25,000
- Fresh issue
- ₹51.2 cr
- Offer for sale
- ₹12.54 cr
- Registrar
- Purva Sharegistry India Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,28,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,46,53,743
- Shares after issue
- 1,86,53,743
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,000 | ₹2,70,000 |
| sHNI | 3 | 3,000 | ₹4,05,000 |
| bHNI | 8 | 8,000 | ₹10,80,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 3 Jun 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 5 |
| NIB | 0 | 45 |
| RETAIL | 1,183 | 352 |
| EMPLOYEES | 0 | 0 |
| HNIs(10L +) | 421 | 8 |
| HNIs (2-10L) | 210 | 37 |
| Shareholder | 0 | 0 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 6.05 | 32.74 |
| FIIs | 0 | 30.75 |
| Others | 0 | 2 |
| RETAIL | 30.28 | 9.01 |
| NIB | 24.22 | 27.52 |
| HNIs 2+ | 8.06 | 1.68 |
| HNIs 10+ | 16.15 | 25.84 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Dec-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 12.66 | 7.11 | 3.2 | 0.76 |
| ROE | 55.52 | 71.76 | 129.95 | 156.32 |
| ROCE | 50.18 | 47.92 | 59.51 | 34.91 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 19 | 0 | 0 |
| POST IPO(PE) | 10.18 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Pushpa Jewellers | 28.42 | 127.95 | 10.00 | 57.60 | 14.88 | 4.55 |
| Khazanchi Jewellers Limited | 25.96 | 667.35 | 10.00 | 109.00 | 15.47 | 25.76 |
| Sky Gold & Diamonds Limited | 30.97 | 452.1 | 10.00 | 66.90 | 10.66 | 9.80 |
| SMR Jewels Limited | 19.00 | 135.00 | 10.00 | 29.13 | 55.00 | 12.66 |
Company information
Company profile
Founded in 2018, SMR Jewels Limited is involved in designing and distributing designer heritage jewellery. The company offers a wide range of jewellery, including nature-inspired designs based on flowers, leaves, animals, and seasonal themes, along with traditional collections such as Jadtar, Meenakari, Polki, bridal, and festive jewellery. These products are created to suit both traditional and modern customer preferences for weddings and special occasions. While the company handles jewellery concepts and designs internally, the manufacturing work is outsourced to experienced artisans and craftsmen. Its client base includes well-known jewellers like HSJ, Rokde Jewellers, WHP, JOSCO Jewellers, Kalamandir Jewellers, Vaibhav Jewellers, and D. P. Abhushan Limited. As of March 31, 2026, the company had 23 permanent employees along with support from a larger network of artisans and job workers.
Strengths
- Strong Design-Focused Jewellery Portfolio: Offers heritage, bridal, and nature-inspired jewellery catering to diverse customer preferences.
- Asset-Light Business Model: Outsourced manufacturing reduces capital expenditure and operational burden.
- Established Relationships with Reputed Jewellers: Strong client network supports repeat business and market credibility.
Risk factors
- Dependence on Third-Party Artisans: Outsourced manufacturing may impact quality consistency and delivery timelines.
- Limited Operational Scale: Small workforce may restrict rapid expansion and scalability.
- Highly Competitive Jewellery Market: Faces competition from established jewellery brands and designers.
Promoters
Mr. Vismay Manojkumar Soni
Mr. Jainil Virendra Soni
Mrs. Parul Manoj Soni
Mrs. Dipikaben Virendra Soni
Mrs. Drashti Pal Modi
Registrar & documents
Lead manager
Wealth Mine Networks Private Limited
Registrar & contacts
Purva Sharegistry India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
3 Vrindavan Appartments, Gulbai Tekra Ahmedabad, Gujarat, 380006
+91079 4941033
[email protected]Company website ↗Understanding SMR IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.