India's primary market is set for a busy week in the SME segment, where three new IPOs are scheduled to open this week, along with a few listings. However, no mainboard IPOs are opening for subscription during the holiday-shortened week between May 25-29.

This comes as markets continue to witness sharp downswings and muted recoveries, with oil prices remaining elevated amid the seesaw political game in the Middle East.

Yaashvi Jewellers IPO

The SME IPO of Yaashvi Jewellers will open for public bidding on May 25 (Monday) and close on May 27 (Wednesday). The company aims to raise nearly Rs 44 crore through its maiden public issue which entirely comprises a fresh issue of shares at Rs 83 per share. The lot size has been fixed at 1,600 shares. The shares are scheduled to be listed on BSE SME platform on June 2 this year.

The Jaipur-headquartered jewellery maker plans to use the IPO proceeds for working capital requirements, repayment or prepayment of certain borrowings, and general corporate purposes.

SMR Jewels IPO

SMR Jewels will launch its SME IPO on May 26 (Tuesday) before it closes on May 29 (Friday) to raise Rs 67 crore through a fresh issue of shares worth Rs 54 crore and an offer for sale (OFS) of shares worth Rs 13.23 crore. The shares of the Gujarat-based company will list on BSE SME platform on June 3.

The minimum lot size for the SMR Jewels IPO is 1,000 shares at a price band of Rs 128-135 per share. The company aims to use the fresh issue proceeds for the construction of a jewellery studio, repayment of borrowings, long-term working capital requirements and general corporate purposes.

Rajnandini Fashion India IPO

Rajnandini Fashion India aims to raise over Rs 18 crore from its SME IPO which will remain open from May 26 (Tuesday) and May 29 (Friday). The company has set the price band at Rs 59-63 per share for the IPO which will entirely comprise a fresh issue of shares.

The garment-maker will use the proceeds raised from the IPO to set up a new manufacturing facility, repay some debt, and meet working capital needs.

Along with the three IPOs opening for public subscription this week, the SME IPOs of Q-Line Biotech, Autofurnish, Bio Medica Laboratories and MR Maniveni Foods which opened last week, will close for bidding during the upcoming week.

This week will also see the SME listings of NFP Sampoorna Foods, Teamtech Formwork Solutions, Vegorama Punjabi Angithi.