Ahmedabad, May 22nd 2026: SMR Jewels Limited (“Company”) has announced the price band of ₹ 128 to ₹ 135 per Equity Share of face value ₹10 each for its Initial Public Offer of Equity Shares (“IPO” or “Issue”). The IPO will open on Tuesday, May 26, 2026, for subscription and close on Friday, May 29, 2026. Investors can bid for a minimum of 2,000 Equity Shares and in multiples of 1,000 Equity Shares thereafter.
The Initial Public Offering comprises a Fresh Issue of 40,00,000 Equity Shares and an Offer for Sale of 9,80,000 Equity Shares by the Selling Shareholders aggregating up to 49,80,000 Equity Shares.
The Promoters of the Company are Mr. Vismay Manojkumar Soni, Mr. Jainil Virendra Soni, Mrs. Parul Manoj Soni, Mrs. Dipikaben Virendra Soni and Mrs. Drashti Pal Modi.
The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the SME Platform of BSE Limited (“BSE SME”). For the purposes of the Offer, BSE Limited shall be the Designated Stock Exchange. The Company proposes to utilise the Net Proceeds from the Fresh Issue towards (working capital requirements / funding capital expenditure requirements / repayment of borrowings / general corporate purposes).
SMR Jewels Limited is engaged in the business of designing, manufacturing and marketing gold jewellery products catering to diverse customer preferences and market segments. The Company focuses on blending traditional craftsmanship with contemporary jewellery offering a wide range of jewellery products and focuses on product quality and customer relationships.
The Company operates primarily from Ahmedabad, Gujarat and has developed capabilities across jewellery design, product development and customer servicing. The Company believes its understanding of regional preferences, product quality and customer relationships position it favourably within the organised jewellery market.
The Company’s revenue from operations increased from ₹ 6,752.78 Lakhs in Fiscal 2023 to ₹ 12,452.30 Lakhs in Fiscal 2024, while its profit after tax increased from ₹ 90.94 Lakhs in Fiscal 2023 to ₹ 384.51 Lakhs in Fiscal 2024. Further, revenue from operations increased from ₹ 12,452.30 Lakhs in Fiscal 2024 to ₹ 26,325.18 Lakhs in Fiscal 2025, while profit after tax increased from ₹ 384.51 Lakhs in Fiscal 2024 to ₹ 1,041.23 Lakhs in Fiscal 2025. Additionally, for the period ended December 2025, the Company reported revenue from operations of ₹ 30,872.01 Lakhs and profit after tax of ₹ 1,855.50 Lakhs.
Wealth Mine Networks Limited is the Book Running Lead Manager to the Issue and Purva Sharegistry (India) Private Limited is the Registrar to the Issue.
The Issue is being made through the Book Building Process in terms of Chapter IX of the SEBI (ICDR) Regulations, wherein not more than 50% of the Net Issue shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Net Issue shall be available for allocation to Non-Institutional Investors and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Investors.
DISCLAIMERS: SMR Jewels Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its Equity Shares and has filed the Red Herring Prospectus (“RHP”) with the Registrar of Companies, Ahmedabad. The RHP is available on the website of the Securities and Exchange Board of India (“SEBI”) at www.sebi.gov.in, on the website of the Book Running Lead Manager at www.wealthminenetworks.com, on the website of BSE Limited at www.bseindia.com and on the website of the Company at www.smrjewels.in.
Potential investors should note that investment in Equity Shares involves a high degree of risk and for details relating to such risks, please refer to the section titled “Risk Factors” of the RHP. Potential investors should not rely on the Draft Red Herring Prospectus for any investment decision.
This annoncement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and the Equity Shares may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or an exemption from registration.
DISCLAIMER CLAUSE OF SEBI: SEBI only gives its observations on the Issue documents and this does not constitute approval of either the Issue or the specified securities proposed to be issued. The investors are advised to refer to the RHP for the full text of the disclaimer clause of SEBI.
DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. Investors are advised to refer to the RHP for the full text of the disclaimer clause of BSE Limited.
All capitalised terms used but not defined in this document shall have the same meaning as ascribed to them in the RHP.
