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Bilkul Bazaar
Ahmedabad | 22 May 2026
SMR Jewels Limited has announced that its Initial Public Offering (IPO) will open for subscription on Tuesday, May 26, 2026, and close on Friday, May 29, 2026. The company has fixed the price band at ₹128 to ₹135 per equity share of face value ₹10 each. Investors can bid for a minimum of 2,000 equity shares and in multiples of 1,000 equity shares thereafter.
The IPO comprises a fresh issue of 40 lakh equity shares along with an offer for sale of 9.80 lakh equity shares by existing shareholders, aggregating up to 49.80 lakh equity shares. The equity shares are proposed to be listed on the SME platform of BSE Limited.
Ahead of the IPO launch, company representatives including Virendra Soni, Mentor; Vismay Soni, Managing Director; Drashti Modi, Chief Financial Officer; Jainil Soni, Whole-Time Director; Anand Lavingia, Practising Company Secretary; along with Jay Trivedi, Managing Director, and Shabnam Kureshi, Director of Wealth Mine Networks Limited interacted with media representatives in Ahmedabad.
Speaking on the occasion, Vismay Soni, Managing Director of SMR Jewels, said, “This IPO marks a significant milestone in our journey as we look to strengthen our market presence and expand our capabilities in the organised jewellery segment. Our focus has always been on delivering quality craftsmanship while adapting to evolving customer preferences.”
He further added, “The Indian jewellery industry is witnessing a gradual shift towards trusted and organised players. We believe our customer-centric approach, design innovation and understanding of regional tastes position us well for sustained growth in the coming years.”
Based in Ahmedabad, SMR Jewels is engaged in 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 designs while maintaining strong customer relationships and product quality.
Drashti Modi, Chief Financial Officer of the company, said the strong financial performance reflects the company’s operational efficiency and expanding business base. “Our consistent growth in revenue and profitability over the last few years demonstrates the strength of our business model and our commitment towards disciplined financial management,” she said.
The company has reported robust financial growth in recent years. Revenue from operations increased from ₹6,752.78 lakh in FY23 to ₹12,452.30 lakh in FY24 and further to ₹26,325.18 lakh in FY25. Profit after tax rose from ₹90.94 lakh in FY23 to ₹384.51 lakh in FY24 and reached ₹1,041.23 lakh in FY25. For the period ended December 2025, the company reported revenue from operations of ₹30,872.01 lakh and profit after tax of ₹1,855.50 lakh.
According to the company, the proceeds from the fresh issue are proposed to be utilised towards working capital requirements, capital expenditure, repayment of borrowings and general corporate purposes.
Purva Sharegistry (India) Private Limited is the registrar to the issue.
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