Ahmedabad-based SMR Jewels Limited has announced the price band for its Initial Public Offering (IPO), which will open for subscription on Tuesday, May 26, 2026, and close on Friday, May 29, 2026.

The company has fixed the price band at Rs 128 to Rs 135 per equity share with a face value of Rs 10 each. Investors can bid for a minimum of 2,000 equity shares and in multiples of 1,000 shares thereafter. The equity shares are proposed to be listed on the SME platform of BSE Limited.

The IPO comprises a fresh issue of 40,00,000 equity shares and an offer for sale of 9,80,000 equity shares by existing shareholders, aggregating up to 49,80,000 equity shares. The company stated that proceeds from the fresh issue will be utilized towards working capital requirements, capital expenditure, repayment of borrowings and general corporate purposes.

SMR Jewels Limited operates in the gold jewellery segment and is engaged in the design, manufacture and marketing of jewellery products catering to different customer segments. The company said it focuses on traditional craftsmanship alongside contemporary product offerings.

The company operates primarily from Ahmedabad, Gujarat, and stated that it has developed capabilities across jewellery design, product development and customer servicing. Promoters of the company include Mr. Vismay Manojkumar Soni, Mr. Jainil Virendra Soni, Mrs. Parul Manoj Soni, Mrs. Dipikaben Virendra Soni and Mrs. Drashti Pal Modi.

According to the company, revenue from operations increased from Rs 6,752.78 lakh in FY2023 to Rs 12,452.30 lakh in FY2024, and further to Rs 26,325.18 lakh in FY2025. Profit after tax rose from Rs 90.94 lakh in FY2023 to Rs 384.51 lakh in FY2024 and Rs 1,041.23 lakh in FY2025. For the period ended December 2025, the company reported revenue from operations of Rs 30,872.01 lakh and profit after tax of Rs 1,855.50 lakh. Wealth Mine Networks Limited is the book running lead manager to the issue, while Purva Sharegistry (India) is acting as registrar to the issue.