Ahmedabad-based SMR Jewels Limited has fixed the price band for its upcoming initial public offering (IPO) at Rs 128 – Rs 135 per equity share, with the issue set to open for subscription on May 26 and close on May 29, 2026.
The IPO comprises a fresh issue of 40 lakh equity shares and an offer for sale (OFS) of 9.8 lakh equity shares by existing shareholders, aggregating to 49.8 lakh equity shares. The company plans to list its shares on the SME platform of BSE Limited.
Investors can bid for a minimum of 2,000 equity shares and in multiples of 1,000 shares thereafter.
According to the company, the proceeds from the fresh issue will be used towards business requirements including working capital, capital expenditure, repayment of borrowings and general corporate purposes.
SMR Jewels Limited is engaged in the design, manufacturing and marketing of gold jewellery products. The company operates primarily from Ahmedabad and caters to multiple customer segments through a portfolio that blends traditional and contemporary jewellery designs.
The company said it has developed capabilities across jewellery design, product development and customer servicing, supported by its understanding of regional consumer preferences.
The promoters of the company include Vismay Manojkumar Soni, Jainil Virendra Soni, Parul Manoj Soni, Dipikaben Virendra Soni and Drashti Pal Modi.
Financially, the company reported strong growth over the last three fiscals. Revenue from operations rose from Rs 67.5 crore in FY23 to Rs 124.5 crore in FY24, and further to Rs 263.2 crore in FY25. Profit after tax increased from Rs 0.9 crore in FY23 to Rs 3.8 crore in FY24 and Rs 10.4 crore in FY25.
For the nine-month period ended December 2025, the company reported revenue from operations of Rs 308.7 crore and profit after tax of Rs 18.5 crore.
