Ahmedabad-based SMR Jewels Limited has opened its Rs 67.23 crore SME Initial Public Offering (IPO) on the BSE SME platform, with the issue remaining open for subscription from May 26 to May 29, 2026. The company has fixed the price band at Rs 128-135 per equity share. The IPO comprises a fresh issue alongside an offer for sale, with the company planning to utilise the proceeds towards construction of a jewellery studio, repayment or prepayment of borrowings, long-term working capital requirements and general corporate purposes.

Founded in 2018, SMR Jewels operates in the designer heritage jewellery segment and offers collections across bridal, festive, meenakari, polki and traditional jewellery categories. The company also develops nature-inspired designs and distributes its products through retailers, wholesalers, boutiques, exhibitions and digital channels.

According to IPO filings, the company reported revenue of Rs 263.25 crore in FY2025, compared with Rs 124.52 crore in FY2024, while profit after tax rose to Rs 10.41 crore from Rs 3.85 crore during the same period.

The minimum application lot has been fixed at 1,000 equity shares. The tentative allotment date is June 1, while the shares are expected to list on the BSE SME platform on June 3, 2026. Wealth Mine Networks has been appointed as the book running lead manager to the issue, while Purva Sharegistry (India) is acting as registrar.

The IPO enters the market amid continued activity in the jewellery SME segment, where several regional jewellery businesses are increasingly turning to public markets to fund expansion, manufacturing infrastructure and retail growth.