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InvestmentsIPOSMR Jewels IPO

SMR Jewels IPO

SME

Open Date

26 May 2026

Close Date

29 May 2026

Min Investment

₹ 2,70,000

Lot Size

1,000

Issue Size

₹ 67.23 Cr

Price Range

₹ 128 - ₹ 135

Subscribed

0.25 x
Apply Now
status

IPO Open Now.

IPO Timeline
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IPO Offer Start
26 May 2026
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IPO Offer Ends
29 May 2026
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Allotment Finalisation
1 Jun 2026
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Refund Initialisation
2 Jun 2026
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Non-Institutional Buyers (sHNI)
2 Jun 2026
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Listing of Shares
3 Jun 2026
IPO Subscription Details as on 26 May 2026, 09:33 PM
Qualified Instituational Buyers (QiB)
2.35 x
Retail
0.02 x
Total
0.25 x
Non-Institutional Buyer (bHNI)
0 x
Non-Institutional Buyer (sHNI)
0 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
SMR Jewels Limited specializes in Designer Heritage Jewellery that blends India's cultural and artistic traditions with modern aesthetics. The company creates theme-based collections inspired by mythology, spirituality, and cultural narratives including Radha-Krishna, Buddha, and other revered icons. The company also produces Nature-Inspired Jewellery, Traditional Jewellery (Jadtar, Meenakari, Polki), Bridal Festive collections, and Daily Wear Jewellery. The company operates through a dual-phase outsourcing model with skilled artisans while maintaining in-house design capabilities and serves customers through wholesalers, retailers, boutiques, and exhibitions across India.
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Founded In

2018

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CEO

Mr. Jainil Virendra Soni

Financials of Smr Jewels IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue67.53124.52263.25
Other Income0.000.000.00
Total Income
67.53124.52263.25
Total Expenses
66.31119.26249.17
Profit Before Tax1.225.2614.08
Total Profit
0.913.8510.41

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company proposes to utilize funds for construction, development, and establishment of a modern Jewellery Studio at Ahmedabad, Gujarat. The facility will serve as an integrated hub for design, manufacturing, customer experience, and exhibitions to strengthen the company's design leadership and brand positioning in the jewellery industry.6
The company intends to utilize proceeds for full or partial repayment/prepayment of outstanding borrowings including term loans and working capital facilities. This will help reduce outstanding indebtedness, debt servicing costs, and improve debt-to-equity ratio for future growth opportunities.7
The company proposes to deploy funds towards incremental working capital requirements driven by its design-led business model, exhibition-driven sales strategy, and establishment of the proposed Jewellery Studio. The working capital is essential for maintaining inventory levels, supporting exhibitions, and scaling operations.30
The company will utilize funds for general corporate purposes including funding growth opportunities, meeting expenses in ordinary course of business, capital expenditure for expansion/development of assets, and other contingencies as approved by management within regulatory limits.-
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  • Specialisation in Designer Heritage Jewellery and Diversified Portfolio: The company is uniquely positioned through its focus on Designer Heritage Jewellery, blending India's cultural traditions with modern aesthetics, offering diversified portfolio including heritage collections, nature-inspired jewellery, traditional jewellery, bridal & festive jewellery, and daily wear jewellery.
  • Strong In-House Design Capabilities and Innovation Focus: The company's in-house design team plays a central role in conceptualisation, CAD modelling, and product development, drawing inspiration from mythology, spirituality, nature, and global fashion trends to ensure collections remain culturally rooted and contemporary.
  • Experienced Leadership and Industry Expertise: The company benefits from a family legacy of over three generations in the jewellery business, with Promoter Mr. Vismay Manojkumar Soni's deep understanding of consumer behaviour, design trends, and market dynamics enabling creation of jewellery appealing to both traditional and modern customers.
  • Strong B2B Network and Prestigious Client Base: The company has established robust B2B presence by consistently supplying jewellery to leading Indian brands including HSJ, Rokde Jewellers, WHP, JOSCO Jewellers, Kalamandir Jewellers, Vaibhav Jewellers, and D. P. Abhushan Limited, resulting in steady repeat business.
  • Established Artisan Network and Dual-Phase Manufacturing Model: The company has built long-standing relationships with highly skilled artisans across India with dual-phase outsourcing model ensuring structural precision and intricate detailing, strengthened by exclusive long-term agreements with network of job workers and artisans.
  • Brand Credibility, Recognition, and Exhibition Success: The company has established strong brand credibility in B2B jewellery market through consistent quality and innovative designs, with recent large-scale exhibition procuring gold worth approximately ₹30 crore and securing confirmed orders of about ₹20 crore.
  • Positioned to Capture Significant Market Opportunity: The company is well positioned to participate in the growth journey of Indian jewellery market with existing wholesale presence, diversified product portfolio, established industry relationships, and scalable business model to benefit from sector's long-term prospects.

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