SMR Jewels opens ₹67 cr SME IPO at ₹128-135; retail bid near zero on day 1
Heritage jewellery designer-seller SMR Jewels launched its ₹67.23 cr BSE SME IPO (₹54 cr fresh, ₹13.23 cr OFS). Day-1 subscription stalled at 23% with QIB at 2.35x but retail just 0.02x and grey market premium flatlining at nil. Listing slated 3 June.
What happened
SMR Jewels, a heritage jewellery designer-seller, opened its ₹67.23 crore SME IPO at ₹128-135 price band. Day-1 subscription hit 23% with QIB at 2.35x but
Key facts
- ₹67.23 crore total issue
- ₹54 crore fresh issue
- ₹13.23 crore OFS
- price band ₹128-₹135
- lot size 1,000 shares
- 23% day-1 subscription
- QIB 2.35x
- retail 0.02x
- GMP nil
- listing 3 June
Why this matters
Heritage jewellery brands struggling to price SME issues opens a window for strategic acquirers or PE roll-ups to engage post-listing at compressed valuations.