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.
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 retail near zero and GMP nil. BSE SME listing slated 3 June.
Why this matters
SMR Jewels is one of three SME retail IPOs on BSE this week alongside Rajnandini Fashion and Yaashvi Jewellers. Despite FY25 revenue doubling to ₹263 cr, day-1 retail demand has near-collapsed.
Retail-company signals steady at 1,190 over the last 90 days.