SMR Jewels IPO, which closed for subscription on Wednesday, is all set to finalise allotment on Thursday, 4 June. The SME IPO had opened for bidding on 26 May.
The ₹63.74-crore IPO garnered a subscription of 1.09 times during the bidding period from May 26 to June 3, with investors placing bids for 54.12 lakh shares against the offered 49.8 lakh shares through 402 applications.
After witnessing weak demand during the first three days of the issue until May 29, the company extended the subscription window by an additional three days, up to June 3. It also revised the price band downward to ₹125–128 per share from the earlier range of ₹128–135 per share.
Qualified institutional buyers were the most booked segment, was subscribed around 5.41 times. Meanwhile, non-institutional investors and retail investors were fully booked and subscribed 30%, respectively.
SMR Jewels IPO GMP today
According to platforms tracking the unofficial market, the grey market premium (GMP) for the SMR Jewels IPO is currently nil. Based on the current GMP, the stock is expected to list at the same price as the issue price.
Grey market premium shows investor willingness to pay over and above the offer price.
SMR Jewels IPO: How to check allotment status?
Investors can check their allotment status of the SMR Jewels IPO on either the BSE website or the registrar website Purva Sharegistry (India).
Here’s a step-by-step guide on how to check allotment status –
BSE
- Visit the BSE IPO Allotment Status Page.
2. Select Equity under the issue type category.
3. Choose Merritronix IPO from the list of available issues.
4. Enter either your application number or PAN details.
5. Complete the verification process and submit the request.
Purva Sharegistry (India)
- Open the official website of Purva Sharegistry.
- Click on ‘allotment query’.
- Select company name ‘SMR Jewels IPO’
- Enter application number or PAN Number.
- Click on search after adding all the details.
SMR Jewels IPO details
SMR Jewels plans to mobilise ₹67.23 crore through its initial public offering, which consists of a fresh issue aggregating ₹54 crore and an offer-for-sale (OFS) component worth ₹13.23 crore.
The IPO is priced in the range of ₹128–135 per share. Bids can be placed in lots of 1,000 shares, with retail investors required to apply for at least two lots, implying a minimum investment of ₹2.70 lakh at the upper price band.
Funds raised through the fresh issue will be utilised for setting up a jewellery studio, repaying ₹6.50 crore of existing borrowings from banks and financial institutions, meeting working capital needs of ₹30 crore, and addressing general corporate requirements.
Wealth Mine Networks is the book-running lead manager for the issue, while Purva Sharegistry (India) has been designated as the registrar.
The company specialises in designer heritage jewellery infused with contemporary design elements to align with evolving consumer tastes. Its portfolio also includes nature-inspired creations and jewellery crafted for daily wear.
Although SMR Jewels does not own manufacturing facilities, it follows an established job-work model by partnering with skilled artisans across the country. Supported by an in-house design team, this network enables the company to create and offer unique jewellery collections.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
