SMR Jewels IPO
Market Sentiment
IPO Details
IPO Reservation
Market Lot Size
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.
No major red flags in the available data.
Auto-generated from live GMP, subscription, valuation and financial data. 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.
| 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 Ltd., 3 Vrindavan Appartments,, Gulbai Tekra, Ahmedabad, Gujarat, 380006
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).
Current grey market activity shows a flat premium, indicating muted unofficial demand. Final subscription data records overall subscription at 1.09x, retail at 0.29x, QIB at 5.41x, NII at 1.00x.
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.
Our data-driven engine currently flags this issue as an Avoid view — key indicators are weak enough that the risk-reward looks unfavourable for now. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
SMR Jewels IPO GMP — What It Means
The latest grey market premium for SMR Jewels IPO is ₹0 (+0.0%). GMP is an unofficial, dealer-quoted figure that hints at expected listing-day demand — it is not a guaranteed listing price. For SMR Jewels it should be read alongside the subscription numbers and the company's fundamentals, since grey-market premiums can swing sharply during the bidding window.
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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