SMR Jewels IPO, May 26 -- The initial public offering (IPO) of SMR Jewels, which designs and sells heritage jewellery, opened for bidding today, 26 May, with a view to raising Rs.67.23 crore. The SME IPO will close for bidding later this week on Friday, 29 May.

The offer is a combination of a fresh issue of shares worth Rs.54 crore and an offer-for-sale (OFS) component of Rs.13.23 crore. The price band for SMR Jewels IPO has been set at Rs.128 to Rs.135 per share. Investors can apply for the offer in lots of 1,000 shares, with retail investors required to bid for at least two lots worth Rs.270,000 at the upper end of the issue.

The company plans to raise Rs.6.40 crore from the fresh proceeds raised for funding capex towards the construc...