SMR Jewels ₹67 crore IPO opens May 26; price band set at ₹128-₹135 per share

Ahmedabad-based SMR Jewels Ltd will launch its initial public offering (IPO) on BSE-SME platform on May 26, targeting ₹67.23 crore through a mix of fresh capital infusion and offer for sale by existing shareholders.

The IPO comprises a fresh issue of up to ₹54 crore and an offer for sale (OFS) of up to ₹13.23 crore, taking the total issue size to 49,80,000 shares, the company said.

The price band has been fixed at ₹128–₹135 a share of face value ₹10. The issue will close on May 29. Investors can bid for a minimum of 2,000 shares. .

The company proposes to utilise the net proceeds from the fresh issue towards capital expenditure requirements for the construction of a jewellery studio, repayment and/or prepayment of certain borrowings availed by the company, and funding long-term working capital requirements, along with general corporate purposes.

SMR Jewels is engaged in designing, manufacturing and marketing gold jewellery products across customer segments, blending traditional craftsmanship with contemporary designs.

The company has built capabilities across jewellery design, product development and customer servicing, positioning itself within the organised jewellery market.

SMR Jewels reported revenue from operations of ₹263.25 crore in FY25, up from ₹124.52 crore in FY24, while profit after tax rose to ₹10.41 crore from ₹3.84 crore in the same period.