SMR Jewels IPO
Market Sentiment
IPO Details
Market Lot Size
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Day-wise Subscription (times subscribed)
Financial Analysis
| Metric | 2023 | 2024 | 2025 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 67.53 | 124.52 | 263.25 | 308.72 |
| Expense | 66.31 | 119.26 | 249.17 | 283.76 |
| Profit (PAT) | 0.91 | 3.85 | 10.41 | 18.56 |
| Total Assets | 21.30 | 15.06 | 43.35 | 85.43 |
| Company | EPS | P/E |
|---|---|---|
| Pushpa Jewellers | 4.55 | 28.42 |
| Khazanchi Jewellers Limited | 25.76 | 25.96 |
| Sky Gold & Diamonds Limited | 9.80 | 30.97 |
Promoters: Mr. Vismay Manojkumar Soni, Mr. Jainil Virendra Soni, Mrs. Parul Manoj Soni, Mrs. Dipikaben Virendra Soni, Mrs. Drashti Pal Modi
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,46,53,743 | 90.37% |
| Promoter Holding Post Issue | 1,86,53,743 | 65.74% |
Strengths & Risks
- Strong institutional (QIB) demand — 5.4x.
- Revenue grew 56% in the latest reported year.
- Solid profit margin — 8.7%.
- Strong return on equity — 72%.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
SMR Jewels Limited, incorporated in 2018, is involved in the design and distribution of designer heritage jewellery. The company offers a wide range of jewellery collections, including nature-inspired designs based on flowers, leaves, vines, animals, and seasonal themes, as well as traditional jewellery such as Jadtar, Meenakari, Polki, and bridal and festive collections. The company’s client base includes several well-known jewellery brands such as HSJ, Rokde Jewellers, WHP, JOSCO Jewellers, Kalamandir Jewellers, Vaibhav Jewellers, and D. P. Abhushan Limited, highlighting its strong presence and trusted relationships within the jewellery industry. The Theme-Based Designer Heritage Jewellery draws inspiration from mythology, spirituality, and cultural narratives. Further, collections include designs inspired by Radha-Krishna, Buddha, and other revered icons, celebrating India’s legacy of storytelling and devotion.
SMR Jewels Ltd., 3 Vrindavan Appartments,, Gulbai Tekra, Ahmedabad, Gujarat, 380006
| Purpose | Amount (Cr) |
|---|---|
| Funding capital expenditure requirements towards Construction of Jewellery Studio | 6.40 |
| Funding towards Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks and financial institutions | 6.50 |
| Funding long-term Working Capital Requirement | 30.00 |
| Funding expenditure for General Corporate Purposes. | - |
Resources & Documents
SMR Jewels has set a price band of Rs 128–Rs 135 per share for an issue size of Rs 67 crore. The stock listed with a 23.74% discount versus its issue price on June 08, 2026.
SMR Jewels Limited, incorporated in 2018, is involved in the design and distribution of designer heritage jewellery. The company offers a wide range of jewellery collections, including nature-inspired designs based on flowers, leaves, vines, animals, and seasonal themes, as well as traditional jewellery such as Jadtar, Meenakari, Polki, and bridal and festive collections.
The issue is promoted by Mr. Vismay Manojkumar Soni, Mr. Jainil Virendra Soni, Mrs. Parul Manoj Soni, Mrs. Dipikaben Virendra Soni, Mrs. Drashti Pal Modi with Wealth Mine Networks Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards Funding capital expenditure requirements towards Construction of Jewellery Studio (Rs 6 crore) and Funding towards Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks and financi… (Rs 7 crore).
On fundamentals, the company is posting revenue growth of 56.3%, a profit margin of 8.7%, return on equity of 71.8% in its most recent reported period. Listed peers in this segment include Pushpa Jewellers (P/E 28.42x) and Khazanchi Jewellers Limited (P/E 25.96x) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
On our data-signal score, the combined signals for this issue currently read mixed — some indicators read positively and others do not. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
SMR Jewels IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
See the full SMR Jewels GMP history and trend, or learn how grey market premium works and how reliable it is.
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