SMR Jewels opens ₹67-cr BSE-SME IPO at ₹128–135; FY25 revenue doubles to ₹263 cr

Ahmedabad gold jewellery maker SMR Jewels launches a ₹67.23 crore BSE-SME IPO on May 26, comprising a ₹54 cr fresh issue and ₹13.23 cr OFS. Proceeds fund a new jewellery studio, debt repayment and working capital. FY25 revenue more than doubled to ₹263.25 cr; PAT at ₹10.41 cr.

— Source publishedWed, 20 May, 2026, 20:37 IST·First seen Wed, 20 May, 2026, 20:45 IST·Source The Hindu BusinessLine

What happened

Ahmedabad-based gold jewellery maker SMR Jewels opens a ₹67.23 crore BSE-SME IPO on May 26 at ₹128–₹135 per share, funding a new jewellery studio, debt

Key facts

  • ₹67.23 crore IPO
  • fresh issue ₹54 crore
  • OFS ₹13.23 crore
  • price band ₹128–₹135
  • 49.8 lakh shares
  • FY25 revenue ₹263.25 crore
  • FY25 PAT ₹10.41 crore

Why this matters

SMR's listing signals continued fragmentation and capital-raising in regional Indian jewellery players, opening windows for consolidation plays or supply-chain partnerships with Ahmedabad-based studios scaling beyond ₹250 cr revenue.