The Indian IPO market, though quieter lately, is set for a small revival. SME IPO launch this week includes two fresh names—Manoj Jewellers Ltd. and Srigee DLM Ltd.—both opening for subscription on Monday.
After the buzz around Ather Energy’s listing in an upcoming week, this SME duo brings a fresh wave of opportunities, particularly for retail investors eyeing niche listings on the BSE SME platform.
Despite global headwinds and a slowing IPO market, these issues offer a focused play in gold retail and electronics manufacturing, respectively. Let’s break down the details and see what makes these IPOs worth a second glance.
Manoj Jewellers Ltd. IPO
IPO Open: May 5
IPO Close: May 7
Issue Size: ₹16.20 crore (30 lakh shares)
Price: Fixed at ₹54 per share
Lot Size: 2,000 shares
Listing Platform: BSE SME
Tentative Listing Date: May 12
Manoj Jewellers Ltd., incorporated in 2007, is a Jaipur-based retailer dealing in gold and diamond jewellery. Known for its wide product range—necklaces, rings, earrings, pendants, and more—the company combines traditional craftsmanship with contemporary design sensibilities.
The issue is a fixed price IPO, making it simpler for first-time investors. Jawa Capital Services is the lead manager, and Skyline Financial Services is the registrar. Market-making duties are handled by Shreni Shares Ltd., which ensures liquidity post-listing.
This IPO aims to raise funds primarily for working capital and business expansion, as the company looks to strengthen its retail footprint.
Srigee DLM Ltd. IPO
IPO Open: May 5
IPO Close: May 7
Issue Size: ₹16.98 crore (17.15 lakh shares)
Price Band: ₹94–₹99 per share
Lot Size: 1,200 shares
Listing Platform: BSE SME
Tentative Listing Date: May 12
Srigee DLM, incorporated in 2005, specialises in design-led contract manufacturing services. With strengths in plastic injection moulding, die-making, and sub-assembly of mobile devices, Srigee serves several sectors—automotive, consumer durables, electronics, and more.
This is a book-building IPO, giving investors a range to bid within. GYR Capital Advisors is the book-running lead manager, and Bigshare Services is the registrar. Globalworth Securities will act as the market maker.
Given India’s manufacturing push under the ‘Make in India’ initiative, Srigee’s IPO comes at an opportune time. Investors looking to benefit from industrial tailwinds may find this offering attractive.
Why Only SMEs This Week?
No mainboard IPOs are scheduled this week, highlighting the overall cautious mood in the capital markets. Global uncertainty—triggered in part by U.S. policy actions like Trump-era tariffs—has made larger firms adopt a wait-and-watch approach.
Still, SME IPOs continue to draw retail attention thanks to relatively lower entry barriers and sector-specific exposure. As of now, Wagons Learning Ltd. and Kenrik Industries Ltd. remain active in the SME space, sustaining the IPO ecosystem.
Should You Invest in These SME IPOs?
Both IPOs cater to distinctly different industries—gold retail and precision manufacturing—offering diversification for small-cap investors. However, SME listings carry their own risks, such as lower liquidity and price volatility post-listing.
It’s essential to review the company fundamentals, issue pricing, and long-term potential before investing. While IPOs may promise quick gains, they must align with your broader financial goals and risk appetite.
As always, consult a SEBI-registered advisor before making a decision.
Disclaimer: The views and investment insights provided here are based on publicly available information and do not constitute financial advice. Readers are advised to conduct their own research or consult certified financial experts before making investment decisions.
