SMR Jewels SME IPO scrapes through at 1.09x; GMP nil as retail demand stalls at 30%
Designer heritage jeweller's ₹63.74 crore SME IPO finalises allotment June 4 after a tepid 1.09x close. QIBs anchored the book at 5.41x, but retail subscribed just 30% and grey market premium sits at zero. Price band was already cut to ₹125-128 from ₹128-135. Proceeds: ₹30 cr working capital, ₹6.5 cr debt repayment.
SMR Jewels SME IPO allotment finalises June 4 after 1.09x subscription; QIBs booked 5.41x, retail only 30%. Price band cut to ₹125-128. GMP nil. Designer heritage jewellery brand using job-work model with artisans.