SMR Jewels IPO
SMR Jewels LtdSME
This IPO has listed.
- Open date
- 26 May 2026
- Close date
- 3 Jun 2026
- Min. Investment
- ₹2,56,000
- Lot Size
- -
- Fresh Issue
- ₹51.20 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- -
Subscription rate
- Qualified Institutional Buyers5.41x
- Non-Institutional Investors1.00x
- Retail-Individual Investors0.30x
- Total1.09x
Schedule
- Completed: IPO open date26 May 2026
- Completed: IPO close date3 Jun 2026
- Completed: Allotment date4 Jun 2026
- Completed: Funds unblock or debit5 Jun 2026
- Completed: Tentative listing date8 Jun 2026
About
Promoter shareholding in SMR Jewels Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Vismay Manojkumar Soni | 26,49,006 | 18.08% | 25,09,006 | 13.45% |
| Jainil Virendra Soni | 20,16,228 | 13.76% | 20,16,228 | 10.81% |
| Parul Manoj Soni | 30,79,680 | 21.02% | 27,29,680 | 14.63% |
| Dipikaben Virendra Soni | 24,79,383 | 16.92% | 21,29,383 | 11.42% |
| Drashti Pal Modi | 24,79,383 | 16.92% | 24,29,383 | 13.02% |
| Bhanumati Ramanlal Parekh | 73,383 | 0.50% | 43,383 | 0.23% |
| Niharika Vismay Soni | 73,383 | 0.50% | 43,383 | 0.23% |
| Mitul Virendra Soni | 73,383 | 0.50% | 43,383 | 0.23% |
| Pragna Bhavesh Modi | 43,308 | 0.30% | 43,308 | 0.23% |
| Palav Mukesh Soni | 20,451 | 0.14% | 20,451 | 0.11% |
| Pal Bhavesh Kumar Modi | 73,383 | 0.50% | 73,383 | 0.39% |
| Bhaveshkumar Chandrakant Modi | 73,383 | 0.50% | 73,383 | 0.39% |
| Parth Bhavesh Modi | 79,398 | 0.54% | 79,398 | 0.43% |
| Bhavik Girishkumar Soni | 28,872 | 0.20% | 28,872 | 0.15% |
SMR Jewels IPO Strengths & Risks
- Experienced Promoter and management team with proven execution capabilities and Skilled work force and Karigars with contemporary designing capabilities.
- Long business experience and established network of suppliers and Clients.
- Profitable track record and strong balance sheet.
- Wide and diverse range of ornament offerings.
- Large and unique design database.
- Risks Relating to the Business: The company may continue to derives a material portion of its revenue from the company top ten customers and its financial dependence on the company top ten customers poses a potential risk. A reduction in business from these top ten customers or any other major clients could has negative implications for both its revenue and profitability.
- Risks Relating to the Business: The company is highly dependent on its suppliers for uninterrupted supply of Raw-Materials. Any shortfall in the supply of its raw materials, or an increase in the company raw material costs and other input costs, may adversely affect the pricing and supply of its products with subsequently having an adverse effect on the business, results of operations and financial conditions of the company.
- Risks Relating to the Business: The company revenues is highly dependent on its operations in geographical region of state of Gujarat. Any adverse development affecting the company operations in this region could has an adverse impact on its business, financial condition and results of operations.
- Risks Relating to the Business: A significant portion of the company manufacturing relies on artisans or Karigars who operates independently, which could introduce its to potential risks stemming from any challenges or changes affecting their operations.
- Risks Relating to the Business: Regulatory and Financial Risks Dues to Delay in Filing Form MGT-14 and Late Refund of Application Money.
- Risks Relating to the Business: Certain delays, discrepancies and Omissions has been detected in the company statutory records, as well as in records related to the submission of returns to the concerned Registrar of Companies.
- Risks Relating to the Business: There is certain discrepancies and non-compliances noticed in filing of returns and deposit of statutory dues with the taxation and other statutory authorities in the past. Any delay in payment of statutory dues by the Company in future, may result in the imposition of penalties, which could adversely impact its financials.
- Risks Relating to the Business: Any fluctuation in price and supply of raw materials, particularly gold, which is the company primary raw material for the manufacture of its products, could adversely impact the company income. Its gold and jewellery business faces risks from market volatility and changing consumer preferences. Fluctuations in commodity prices like gold could impact its costs and profitability. Evolving consumer tastes influence product demand, necessitating continuous adaptation to remain competitive.
- Risks Relating to the Business: The Company requires significant amounts of working capital for continued growth. Its inability to meet the company working capital requirements may has an adverse effect on the results of operations.
- Risks Relating to the Business: The company has experienced negative cash flows from Operating and investing activities in the past.
- Risks Relating to the Business: The company has issued Equity Shares during the preceding twelve months at a price which may be below the Offer Price.
- Risks Relating to the Business: The company may not be able to protect its trademark "SMR JEWELS" and logo from infringement.
- Risks Relating to the Business: The company Registered Office from where its operates is not owned by the company.
- Risks Relating to the Business: Orders placed by customers may be delayed, modified or cancelled, which may has an adverse effect on the company business, financial condition and results of operations.
- Risks Relating to the Business: The company Depends on Third Parties to Certify its Jewellery, and Any Fraudulent, Invalid, or Adverse Publicity Relating to Such Certifications May Negatively Impact the company Business.
- Risks Relating to the Business: The company Business is Dependent on the Success of its Design and Concept Development, and Any Inability to Adapt to Changing Consumer Preferences May Adversely Affect the company Results.
- Risks Relating to the Business: The company has in the past entered into related party transactions and may continue to does so in the future, which may potentially involve conflicts of interest.
- Risks Relating to the Business: The company does not register its jewellery designs under the Designs Act, 2000 and its may lose income if the company designs is duplicated by competitors.
- Risks Relating to the Business: There is outstanding legal matters involving the Company, Promoters, Directors and SMP & KMP. Any adverse decisions could divert management time and attention and has an adverse effect on its business, prospects, results of operations and financial condition.
- Risks Relating to the Business: The company has taken guarantees from Promoters and members of Promoter Group in relation to debt facilities provided to its.
- Risks Relating to the Business: The company intend to utilize a portion of the net proceeds for construction of a jewellery studio, and any delay or cost overrun in its implementation may adversely affect the company business and financial condition.
- Risks Relating to the Business: The company contingent liabilities as stated in its Financial Statements could adversely affect the company financial condition.
- Risks Relating to the Business: The Company operates on a purchase order (PO) basis and does not enter into long-term agreements with its customers, resulting in the absence of a fixed customer base.
- Risks Relating to the Business: The company has not commissioned an industry report for the disclosures made in the section titled `Industry Overview'. These disclosures are based on publicly available data from the internet, which has not been independently verified by its.
- Risks Relating to the Business: The Average Cost of Acquisition of Equity Shares by the company Promoters and Selling Shareholders May Be Lower Than the Offer Price.
- Risks Relating to the Business: The Company will not receive any proceeds from the Offer for Sale.
- Risks Relating to the Business: The company is dependent on its promoters and senior management and other key personnel, and the loss of, or the company inability to attract or retain, such persons could affect its business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: Some of the company Directors (including its Promoters) and Key Management Personnel & Senior Management are interested in its Company to the extent of their shareholding and dividend entitlement in the Company, in addition to normal remuneration, other benefits and reimbursement of expenses.
- Risks Relating to the Business: Fraud, theft, employee negligence or similar incidents may adversely affect the company results of operations and financial condition.
- Risks Relating to the Business: The company indebtedness, including various conditions and restrictive covenants imposed on its under the company financing agreements and could adversely affect its ability to grow the company business or react to changes in its business environment.
- Risks Relating to the Business: Risks arising from reliance on cultural narratives in jewellery design, including misrepresentation, evolving sensitivities, and reputational exposure.
- Risks Relating to the Business: Storage, Security, and Preservation of Inventory Pose Operational and Financial Risks, Specialized infrastructure is required to preserve and safeguard the company inventory, and any failures in this regard can result in irrecoverable losses.
- Risks Relating to the Business: Change in technology may affect the company business and financial condition.
- Risks Relating to the Business: The company Promoter and members of the Promoter Group will continue jointly to retain majority control over its Company after the Offer, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- Risks Relating to the Business: The objects of the Offer has not been appraised by any bank or financial institution and the company cannot assure you that the objects of the Offer will be achieved within the expected time frame, or at all, and any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- Risks Relating to the Business: None of the company directors has prior experience serving as directors in any other listed company in India.
- Risks Relating to the Business: The requirements of being a public listed company may strain its resources and impose additional obligations.
- Risks Relating to the Business: The company has not declared any dividends till Financial Year 2024-25 and its cannot assure you that the company will be able to pay dividends on its Equity Shares in the future.
- Risks Relating to the Business: Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- Risks Relating to the Business: 40. A Portion of the Net Proceeds is Proposed to be Utilised for General Corporate Purposes, the Exact Deployment of Which is at the Discretion of the company Management.
- Risks Relating to the Business: There is restrictions on daily, weekly and monthly price movement of the equity shares, which may adversely affect the shareholder's ability to sell their shares at desired price at a particular point in time.
- Risks Relating to the Business: There is no guarantee that the Equity Shares issued pursuant to the Offer will be listed on the SME Platform of BSE in a timely manner, or at all.
- Risks Relating to the Business: Sale of Equity Shares by the company Promoters or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
- Risks Relating to the Business: Pursuant to listing of the Equity Shares, the company may be subject to pre-emptive surveillance measures like Additional Surveillance Measure (ASM) and Graded Surveillance Measures (GSM) by the Stock Exchanges in order to enhance market integrity and safeguard the interest of investors.
- Risks Relating to the Business: After this Offer, the price of the Equity Shares may be subject to change, or an active trading market for the Equity Shares may not develop.
- Risks Relating to the Business: QIBs and Non-Institutional Investors is not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid, and Individual investor who applies for minimum application size is not permitted to withdraw their Bids after Bid/Offer Closing Date.
- Risks Relating to the Business: There is restrictions on daily movements in the trading price of the Equity Shares, which may adversely affect a shareholder's ability to sell Equity Shares or the price at which Equity Shares can be sold at a particular point in time.
- Risks Relating to the Business: The Offer price of the company Equity Shares may not be indicative of the market price of its Equity Shares after the Offer and the market price of the company Equity Shares may decline below the offer price and you may not be able to sell your Equity Shares at or above the Offer Price.
