Shankesh Jewellers IPO was a Mainboard Book Built public issue by Shankesh Jewellers Limited. The public issue comprised a fresh issue of up to 2,94,82,000 equity shares aggregating to approximately ₹274.18 crore and an Offer for Sale of up to 1,00,00,000 equity shares aggregating to ₹93 crore at the upper price band. The total issue size was approximately ₹367.18 crore. The equity shares are proposed to be listed on both BSE and NSE.
Shankesh Jewellers IPO Price was fixed in the range of ₹88 to ₹93 per equity share with a face value of ₹5 per share. The IPO opened for subscription on 18 August 2026 and closed on 20 August 2026. The anchor investor bidding took place on 17 August 2026. The basis of allotment was scheduled for 21 August 2026, refunds and demat credit were scheduled for 24 August 2026, and the listing was scheduled for 25 August 2026.
Shankesh Jewellers Limited is engaged in the business of handcrafted gold jewellery and provides customised jewellery and job-work services. The company manufactures and supplies 22-karat and 18-karat gold jewellery, including bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings and other jewellery sets.
The company primarily operates through a B2B business model and supplies jewellery to corporate and non-corporate customers across India. Its customer base includes established jewellery companies such as Joyalukkas India Limited, P. N. Gadgil & Sons Limited, Kalyan Jewellers India Limited, Novel Jewels Limited and Manoj Vaibhav Gems ’N’ Jewellers Limited.
Shankesh Jewellers has built its business around handcrafted jewellery and customisation. The company works with skilled local karigars and job workers and follows an asset-light manufacturing approach compared with jewellery manufacturers that maintain extensive in-house production infrastructure.
The Indian jewellery industry is supported by strong consumer demand for gold jewellery, wedding-related purchases, changing jewellery preferences, increasing organised retail and the expansion of established jewellery chains. At the same time, jewellery businesses remain exposed to fluctuations in gold prices, working capital requirements, customer concentration, inventory management and changes in consumer demand.
Investors should carefully analyse the company’s financial performance, customer concentration, borrowings, working capital requirements, valuation, competitive position and the risks disclosed in the offer documents before making an investment decision.
IPO Details
| Information | Details |
|---|---|
| IPO Name | Shankesh Jewellers IPO |
| Company Name | Shankesh Jewellers Limited |
| IPO Type | Book Built Issue |
| IPO Category | Mainboard IPO |
| Face Value | ₹5 Per Equity Share |
| Price Band | ₹88 to ₹93 Per Share |
| Issue Size | ₹367.18 Crore |
| Fresh Issue | ₹274.18 Crore |
| Offer for Sale | ₹93.00 Crore |
| IPO Open Date | 18 August 2026 |
| IPO Close Date | 20 August 2026 |
| Anchor Investor Bidding | 17 August 2026 |
| Basis of Allotment | 21 August 2026 |
| Refund Initiation | 24 August 2026 |
| Shares Credited to Demat Account | 24 August 2026 |
| Listing Date | 25 August 2026 |
| Listing Exchange | BSE & NSE |
| Lot Size | 160 Equity Shares |
| Retail Minimum Investment | ₹14,880 |
| Retail Maximum Investment | ₹1,93,440 |
| S-HNI Minimum Investment | ₹2,08,320 |
| S-HNI Maximum Investment | ₹9,96,960 |
| B-HNI Minimum Investment | ₹10,11,840 |
| Registrar | KFin Technologies Limited |
| Book Running Lead Managers | Aryaman Financial Services Limited and Smart Horizon Capital Advisors Private Limited |
The company intends to utilise the fresh issue proceeds primarily for repayment or prepayment, in full or part, of certain borrowings and funding its working capital requirements. Approximately ₹158 crore is proposed for repayment or prepayment of borrowings and ₹38 crore for working capital requirements. The balance is intended for general corporate purposes.
Shankesh Jewellers IPO Dates
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | 17 August 2026 |
| IPO Opening Date | 18 August 2026 |
| IPO Closing Date | 20 August 2026 |
| Basis of Allotment | 21 August 2026 |
| Refund Initiation | 24 August 2026 |
| Shares Credited to Demat Account | 24 August 2026 |
| Listing Date | 25 August 2026 |
The Shankesh Jewellers IPO allotment was scheduled to be finalised on 21 August 2026. Refunds and demat credit were scheduled for 24 August 2026, followed by listing on BSE and NSE on 25 August 2026.
Shankesh Jewellers IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not More Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
| Anchor Investors | Up to applicable QIB portion |
The IPO allocation provided up to 50% of the net offer for QIBs, not more than 15% for NIIs and not less than 35% for retail individual investors.
Shankesh Jewellers IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 160 Shares | ₹14,880 |
| Retail Maximum | 13 Lots | 2,080 Shares | ₹1,93,440 |
| S-HNI Minimum | 14 Lots | 2,240 Shares | ₹2,08,320 |
| S-HNI Maximum | 67 Lots | 10,720 Shares | ₹9,96,960 |
| B-HNI Minimum | 68 Lots | 10,880 Shares | ₹10,11,840 |
The application amounts shown above are calculated using the upper Shankesh Jewellers IPO Price of ₹93 per equity share. The minimum bid was 160 shares and bids could be made in multiples of 160 shares.
About Shankesh Jewellers Limited
Shankesh Jewellers Limited is a Mumbai-based jewellery company engaged in manufacturing handcrafted gold jewellery and providing customised jewellery solutions. The company has been associated with the jewellery industry for several decades and has developed capabilities in handcrafted 22-karat and 18-karat gold jewellery.
The company’s product portfolio includes traditional and contemporary jewellery designs such as bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings and other jewellery sets. It also offers jewellery in different styles, including antique, semi-antique, Calcutta, temple and gheru polish designs, along with yellow, rhodium and rose gold finishes.
Shankesh Jewellers primarily operates in the B2B segment and supplies products to corporate and non-corporate customers across India. Its customer base includes several established jewellery retailers, which provides the company with access to an organised distribution network.
The company follows a manufacturing model supported by local artisans, karigars and job workers. This model allows it to offer customised handcrafted jewellery without relying entirely on a large fixed manufacturing infrastructure.
The business is also working-capital intensive because jewellery manufacturing and wholesale operations require funds for inventory, gold procurement, production, finished goods and receivables. The company plans to use a portion of the IPO proceeds to strengthen working capital and another substantial portion to reduce borrowings.
Business Operations
Shankesh Jewellers operates across several activities within the handcrafted gold jewellery value chain.
- Handcrafted Gold Jewellery – The company manufactures handcrafted jewellery primarily in 22-karat and 18-karat gold.
- Customised Jewellery – It provides customised and tailor-made jewellery according to customer requirements.
- B2B Jewellery Supply – The company supplies jewellery products to corporate and non-corporate customers across India.
- Bridal Jewellery – Its product portfolio includes bridal jewellery and traditional designs used for weddings and special occasions.
- Traditional Jewellery – The company offers bangles, jhumkas, mangalsutras, necklace sets and other traditional jewellery.
- Contemporary Designs – The company also produces modern designs and customised jewellery products for changing customer preferences.
- Job-Work Services – The company works with artisans and job workers for manufacturing and finishing activities.
- Gold Jewellery Finishes – Its products include yellow gold as well as rhodium and rose gold finishes.
- Specialised Designs – The company offers antique, semi-antique, Calcutta, temple and gheru polish jewellery designs.
- Pan-India Distribution – Products are supplied to customers across different regions of India through its B2B network.
Industry Overview
India has a large and established jewellery market with gold jewellery forming an important part of consumer spending and cultural traditions. Jewellery demand is particularly influenced by weddings, festivals, family occasions, investment preferences and changing fashion trends.
The organised jewellery sector has continued to develop as consumers increasingly prefer established brands, transparent pricing, quality assurance and wider product choices. Large jewellery retailers and chains have also expanded their networks across different regions, creating opportunities for reliable B2B jewellery manufacturers and suppliers.
The growth of organised jewellery retail can create opportunities for manufacturers capable of supplying consistent quality and customised products to established retailers.
Handcrafted jewellery also continues to have demand because customers value traditional craftsmanship, intricate designs and customisation. Companies with access to skilled artisans can serve specific requirements that may not always be addressed by standardised mass-produced jewellery.
However, the industry is exposed to fluctuations in gold prices. A significant increase in gold prices can affect inventory values, working capital requirements and consumer demand. Jewellery companies also need to carefully manage inventory, credit terms and customer receivables.
Competition is another important factor, with numerous jewellery manufacturers, wholesalers and organised retailers operating across India. Changes in consumer preferences, regulatory requirements, import policies and taxation can also affect industry participants.
Business Strategy
Shankesh Jewellers focuses on handcrafted jewellery manufacturing, customisation and B2B supply relationships.
The company aims to leverage its experience in handcrafted jewellery and its network of artisans and job workers to provide customised products to customers. Its B2B orientation allows the company to supply established jewellery retailers and other customers rather than relying primarily on direct-to-consumer retail stores.
The company also seeks to strengthen its financial position through the proposed repayment or prepayment of borrowings. Approximately ₹158 crore of the IPO proceeds is intended for this purpose, which can reduce the company’s debt burden and interest costs.
Another important objective is funding working capital requirements. The jewellery business requires significant working capital because funds are deployed in inventory and receivables. The company has proposed approximately ₹38 crore towards working capital.
The company’s strategy is therefore focused on strengthening its balance sheet, supporting working capital needs, maintaining relationships with B2B customers and expanding its handcrafted jewellery business.
Shankesh Jewellers IPO Financial Information
A company’s financial performance provides important information about revenue growth, profitability, assets, borrowings, margins and overall financial strength.
Shankesh Jewellers reported total income of ₹1,061.91 crore in FY2024, ₹1,403.94 crore in FY2025 and ₹1,630.93 crore in FY2026. Profit after tax increased from ₹12.82 crore in FY2024 to ₹40.31 crore in FY2025 and ₹106.68 crore in FY2026.
Shankesh Jewellers Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Total Income | ₹1,061.91 Crore | ₹1,403.94 Crore | ₹1,630.93 Crore |
| Total Expenses | ₹1,044.67 Crore | ₹1,349.91 Crore | ₹1,487.54 Crore |
| EBITDA | ₹28.60 Crore | ₹65.35 Crore | ₹157.90 Crore |
| Profit After Tax (PAT) | ₹12.82 Crore | ₹40.31 Crore | ₹106.68 Crore |
| Net Worth | ₹60.29 Crore | ₹100.60 Crore | ₹209.43 Crore |
| Total Assets | ₹177.07 Crore | ₹249.56 Crore | ₹403.76 Crore |
| Total Borrowings | ₹109.81 Crore | ₹145.63 Crore | ₹167.30 Crore |
| Reserves & Surplus | ₹57.50 Crore | ₹90.83 Crore | ₹150.65 Crore |
The company recorded strong growth in total income between FY2024 and FY2026. Total income increased from ₹1,061.91 crore to ₹1,630.93 crore, while PAT increased substantially from ₹12.82 crore to ₹106.68 crore.
EBITDA also increased from ₹28.60 crore in FY2024 to ₹157.90 crore in FY2026. Net worth increased from ₹60.29 crore to ₹209.43 crore during the same period.
Total borrowings increased in absolute terms from ₹109.81 crore in FY2024 to ₹167.30 crore in FY2026. However, the company’s debt-to-equity ratio improved from 1.44 in FY2025 to 0.80 in FY2026 as net worth increased significantly.
Shankesh Jewellers IPO Key Performance Indicators (KPIs)
Key Performance Indicators help investors evaluate profitability, capital efficiency, margins, leverage and valuation.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 50.94% |
| Return on Capital Employed (ROCE) | 41.57% |
| Return on Net Worth (RoNW) | 50.94% |
| EBITDA Margin | 9.68% |
| PAT Margin | 6.54% |
| Debt-to-Equity Ratio | 0.80 |
| Earnings Per Share (EPS) | ₹9.08 |
| Net Asset Value (NAV) Per Share | ₹17.82 |
| Pre-IPO P/E | 10.24x |
| Post-IPO P/E | 12.81x |
The company’s FY2026 profitability ratios improved substantially compared with FY2025. ROE increased to 50.94%, ROCE stood at 41.57%, EBITDA margin reached 9.68% and PAT margin stood at 6.54%.
The debt-to-equity ratio declined from 1.44 in FY2025 to 0.80 in FY2026. The improvement reflects stronger net worth growth relative to borrowings.
At the upper price band of ₹93, the company’s post-issue market capitalisation was approximately ₹1,367.39 crore. Based on the reported FY2026 earnings, the post-issue P/E was approximately 12.81x.
Objects of the Shankesh Jewellers IPO
The company intends to utilise the net proceeds from the fresh issue for the following purposes:
- Repayment or prepayment, in full or part, of certain borrowings.
- Funding working capital requirements.
- General corporate purposes.
Approximately ₹158 crore is proposed to be utilised for repayment or prepayment of certain borrowings and approximately ₹38 crore for working capital requirements.
The debt repayment component is intended to strengthen the company’s financial position and potentially reduce interest costs. The working capital component is intended to support the company’s jewellery manufacturing and B2B supply operations.
The Offer for Sale portion consists of shares offered by promoter selling shareholders. The OFS proceeds will be received by the respective selling shareholders rather than the company.
Shankesh Jewellers IPO Listing Performance
The Shankesh Jewellers IPO listing was scheduled for 25 August 2026 on BSE and NSE. The final issue price was fixed at ₹93 per equity share.
| Particular | Value |
|---|---|
| Listing Exchange | BSE & NSE |
| Listing Date | 25 August 2026 |
| Issue Price | ₹93 Per Share |
| Listing Price | To be updated |
| Listing Gain | To be updated |
| Listing Gain (%) | To be updated |
The final listing price will determine the initial market performance against the IPO issue price. Investors should distinguish between short-term listing performance and the company’s long-term financial and business performance.
Shankesh Jewellers IPO Subscription Status
The Shankesh Jewellers IPO received overall subscription of approximately 2.80 times by the end of the bidding period.
Shankesh Jewellers IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 1.32x |
| Non-Institutional Investors (NII) | 5.68x |
| Retail Individual Investors (RII) | 2.42x |
| Employee Category | Not Separately Reported |
| Total Subscription | 2.80x |
The NII category recorded the strongest subscription at 5.68 times, followed by retail investors at 2.42 times and QIBs at 1.32 times. The total issue was subscribed 2.80 times.
The subscription figures indicate investor participation across different categories, although subscription levels alone should not be considered a measure of the company’s long-term investment potential.
Shankesh Jewellers IPO GMP
Shankesh Jewellers IPO GMP is an unofficial indicator of market sentiment before listing. Grey market premiums can change frequently and are not regulated or guaranteed by the stock exchanges.
The Shankesh Jewellers IPO GMP was reported at different levels during the issue period. It was reported at around ₹5 after the subscription closed, while later indications moved lower. On 24 August 2026, the reported GMP was around ₹1.
At an issue price of ₹93, a GMP of ₹1 would imply an unofficial estimated price of approximately ₹94. However, grey-market indications are not reliable guarantees of the actual listing price.
Investors should therefore use Shankesh Jewellers IPO GMP only as an informal market indicator and should focus primarily on financial performance, valuation, business fundamentals and risk factors.
Shankesh Jewellers IPO Review
Shankesh Jewellers IPO provided investors with an opportunity to participate in a B2B-focused handcrafted jewellery company with a long operating history in the sector.
One of the company’s key strengths is its focus on handcrafted 18-karat and 22-karat gold jewellery. The company offers a broad product portfolio covering traditional and customised jewellery, including bridal jewellery, bangles, necklaces, rings, jhumkas, mangalsutras and other products.
The company has also developed relationships with established jewellery companies. Its customer base includes major names such as Joyalukkas India Limited, P. N. Gadgil & Sons Limited and Kalyan Jewellers India Limited. Such relationships can support recurring B2B orders and provide access to established retail networks.
Financial performance has been another positive factor. Total income increased from ₹1,061.91 crore in FY2024 to ₹1,630.93 crore in FY2026, while PAT increased from ₹12.82 crore to ₹106.68 crore. EBITDA also grew substantially during the same period.
The company reported strong FY2026 return ratios, with ROE of 50.94% and ROCE of 41.57%. The debt-to-equity ratio also improved from 1.44 in FY2025 to 0.80 in FY2026.
However, investors should consider the company’s working-capital-intensive business model. Jewellery manufacturing and wholesale operations require substantial funds for inventory and receivables. This is reflected in the company’s decision to allocate ₹38 crore of IPO proceeds towards working capital.
Borrowings also increased in absolute terms from ₹109.81 crore in FY2024 to ₹167.30 crore in FY2026. Although the debt-to-equity ratio improved because net worth grew faster, absolute debt remains an important factor for investors to monitor.
Customer concentration is another risk that investors should evaluate. A B2B business with significant dependence on a limited number of large jewellery retailers can be affected if major customers reduce orders, change suppliers or experience business disruptions.
The company also operates in a highly competitive jewellery market. Gold price volatility, changes in consumer preferences, regulatory requirements, working capital needs and competition from other manufacturers can affect profitability.
Valuation should also be considered carefully. At ₹93 per share, the post-issue P/E was approximately 12.81x based on FY2026 earnings. While this valuation is lower than some listed jewellery peers, investors should assess whether the company’s recent earnings growth can be sustained.
Overall, Shankesh Jewellers combines a long operating history, handcrafted jewellery expertise, established B2B relationships and strong FY2026 financial performance. At the same time, working capital requirements, borrowings, customer concentration, gold-price volatility and competition remain important considerations.
Shankesh Jewellers IPO Strengths
- Established presence in the handcrafted gold jewellery industry.
- Experience in 18-karat and 22-karat gold jewellery.
- Long operating history in the jewellery business.
- Strong B2B customer network across India.
- Relationships with established jewellery retailers.
- Wide range of traditional and customised jewellery products.
- Asset-light manufacturing model supported by karigars and job workers.
- Strong growth in total income during FY2024-FY2026.
- Significant improvement in PAT during FY2024-FY2026.
- Strong FY2026 ROE and ROCE.
- Improvement in debt-to-equity ratio.
- IPO proceeds include substantial debt repayment, which can strengthen the balance sheet.
- Growing net worth over the reported financial periods.
Shankesh Jewellers IPO Risk Factors
- Jewellery manufacturing and wholesale operations require significant working capital.
- Gold price fluctuations can affect inventory, margins and consumer demand.
- Dependence on B2B customers can create customer concentration risk.
- Loss of major customers could adversely affect revenue.
- Competition exists from organised and unorganised jewellery manufacturers.
- Borrowings increased in absolute terms during FY2024-FY2026.
- Business depends on skilled artisans, karigars and job workers.
- Changes in consumer preferences may affect demand for specific designs.
- Regulatory and taxation changes may affect the jewellery industry.
- Inventory management is important because gold and jewellery carry high values.
- Any slowdown in jewellery demand can affect sales and profitability.
- Working capital requirements may increase as the business expands.
- Recent profit growth may not necessarily continue at the same pace.
- The company’s valuation should be assessed against sustainable earnings rather than only recent profit growth.
Shankesh Jewellers IPO Promoters
Shankesh Jewellers Limited is promoted by Kantilal Kheemraj Jain, Mahavir Kantilal Jain and Manoj Kantilal Jain. The promoters had approximately 95.48% shareholding before the IPO, which was expected to reduce to approximately 69.53% after the issue.
The promoters have been associated with the company’s jewellery business and have contributed to its development in the handcrafted gold jewellery and B2B jewellery segment.
Shankesh Jewellers IPO Promoters Details
| Promoter | Designation / Role |
|---|---|
| Kantilal Kheemraj Jain | Promoter |
| Mahavir Kantilal Jain | Promoter |
| Manoj Kantilal Jain | Promoter |
The promoter and promoter group held approximately 95.48% before the IPO. Following the issue, promoter and promoter group holding was expected to decline to approximately 69.53%.
Shankesh Jewellers IPO Management Team
The company is managed by a team responsible for jewellery operations, finance, compliance and business development.
| Name | Designation |
|---|---|
| Kantilal Kheemraj Jain | Promoter |
| Mahavir Kantilal Jain | Promoter |
| Manoj Kantilal Jain | Promoter |
| Shweta Dattatray Ravankar | Company Secretary & Compliance Officer |
The company’s management and promoter group have experience in the jewellery business, while the company secretary and compliance function oversees corporate and regulatory compliance.
Shankesh Jewellers IPO Registrar Details
The registrar is responsible for processing IPO applications, finalising the basis of allotment, coordinating refunds, crediting shares to successful applicants and handling investor-related services.
| Particular | Details |
|---|---|
| Registrar Name | KFin Technologies Limited |
| Website | https://www.kfintech.com |
| IPO Allotment Status | https://ipostatus.kfintech.com |
| Email ID | [email protected] |
| Contact Number | 040-67162222 / 1800 309 4001 |
KFin Technologies Limited was appointed as the registrar to the Shankesh Jewellers IPO.
Shankesh Jewellers IPO Lead Manager Details
The Book Running Lead Managers were responsible for managing the IPO process, coordinating regulatory requirements and assisting the company with the public issue.
| Particular | Details |
|---|---|
| Lead Managers | Aryaman Financial Services Limited and Smart Horizon Capital Advisors Private Limited |
| First Lead Manager | Aryaman Financial Services Limited |
| Second Lead Manager | Smart Horizon Capital Advisors Private Limited |
The issue documents and IPO information identify Aryaman Financial Services Limited and Smart Horizon Capital Advisors Private Limited as the lead managers to the issue.
Shankesh Jewellers Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Shankesh Jewellers Limited |
| Registered Office | Office No. 12, 3rd Floor, 101 Mumbadevi Diamond Premises Co-Op Society Ltd., Zaveri Bazar, Mumbai, Maharashtra – 400002 |
| Website | https://www.shankeshjewellers.com |
| Email ID | [email protected] |
| Contact Number | +91 22 2347 0008 / 0009 |
The registered office of Shankesh Jewellers Limited is located in Zaveri Bazar, Mumbai, Maharashtra.
How to Check Shankesh Jewellers IPO Allotment Status
Investors can check the Shankesh Jewellers IPO Allotment Status through the registrar’s official website or the relevant stock exchange facilities after the basis of allotment is finalised.
Through KFin Technologies Limited
- Visit the official KFin Technologies IPO allotment portal.
- Select Shankesh Jewellers IPO from the IPO list.
- Choose PAN Number, Application Number or DP/Client ID.
- Enter the required details.
- Submit the information to view the allotment status.
Through NSE
- Visit the official NSE IPO bid verification facility.
- Select the relevant IPO.
- Enter your PAN Number or Application Number.
- Complete the required verification.
- Submit the details to view the application status.
Through BSE
- Visit the official BSE IPO application status facility.
- Select the relevant IPO.
- Enter the required PAN or application details.
- Complete the verification process.
- Submit the details to check the allotment status.
The Shankesh Jewellers IPO allotment was scheduled for 21 August 2026, with refunds and demat credit scheduled for 24 August 2026.
Shankesh Jewellers IPO Conclusion
Shankesh Jewellers IPO provided investors with an opportunity to invest in a B2B-focused handcrafted gold jewellery company with an established operating history and relationships with major jewellery retailers.
The company offers a diversified range of handcrafted 18-karat and 22-karat gold jewellery and provides customised products to customers across India. Its B2B business model and relationships with established jewellery companies provide a platform for continued business growth.
The company’s financial performance improved significantly during FY2024-FY2026. Total income increased from ₹1,061.91 crore to ₹1,630.93 crore, while PAT increased from ₹12.82 crore to ₹106.68 crore. EBITDA also increased substantially during the same period.
The company reported strong FY2026 return ratios, including ROE of 50.94% and ROCE of 41.57%. The debt-to-equity ratio also improved to 0.80 from 1.44 in FY2025.
However, the jewellery business requires substantial working capital and is exposed to gold-price movements, inventory risks and customer concentration. The company is also dependent on skilled artisans and job workers for its handcrafted products.
The IPO proceeds are intended to allocate ₹158 crore towards repayment or prepayment of borrowings and ₹38 crore towards working capital. These objectives can support the company’s financial position and operational requirements.
At the upper price band of ₹93, the post-issue P/E was approximately 12.81x based on FY2026 earnings. Investors should evaluate this valuation against the company’s future earnings potential, competitive position and the sustainability of its recent profit growth.
The Shankesh Jewellers IPO Subscription Status showed an overall subscription of 2.80 times, with particularly strong participation from the NII category.
Overall, Shankesh Jewellers has several positive factors, including an established B2B jewellery business, handcrafted product capabilities, strong FY2026 earnings growth, improving profitability ratios and an IPO plan focused partly on debt reduction. Investors should nevertheless consider working capital requirements, gold-price volatility, customer concentration, competition and the sustainability of earnings before making an investment decision.
Shankesh Jewellers IPO FAQs
What is Shankesh Jewellers IPO?
Shankesh Jewellers IPO was the Mainboard public issue of Shankesh Jewellers Limited, a company engaged in handcrafted gold jewellery manufacturing, customisation and B2B jewellery supply.
What was the Shankesh Jewellers IPO Price?
The Shankesh Jewellers IPO Price band was ₹88 to ₹93 per equity share. The upper issue price was ₹93 per share.
What was the Shankesh Jewellers IPO issue size?
The total Shankesh Jewellers IPO issue size was approximately ₹367.18 crore, comprising a fresh issue of approximately ₹274.18 crore and an Offer for Sale of ₹93 crore.
What was the Shankesh Jewellers IPO Lot Size?
The Shankesh Jewellers IPO Lot Size was 160 equity shares. At the upper price band of ₹93, the minimum retail investment was ₹14,880.
When did the Shankesh Jewellers IPO open and close?
The IPO opened for subscription on 18 August 2026 and closed on 20 August 2026.
What was the Shankesh Jewellers IPO GMP?
The Shankesh Jewellers IPO GMP was an unofficial grey-market indicator that changed during the IPO period. It was reported around ₹5 after the issue closed and around ₹1 on 24 August 2026. GMP does not guarantee the actual listing price.
What was the Shankesh Jewellers IPO Subscription Status?
The Shankesh Jewellers IPO Subscription Status showed an overall subscription of 2.80 times. QIBs subscribed 1.32 times, NIIs 5.68 times and retail investors 2.42 times.
When was the Shankesh Jewellers IPO Allotment?
The Shankesh Jewellers IPO Allotment was scheduled to be finalised on 21 August 2026. Refunds and shares were scheduled to be credited to demat accounts on 24 August 2026.
Who is the registrar for Shankesh Jewellers IPO?
KFin Technologies Limited is the registrar to the Shankesh Jewellers IPO.
What does Shankesh Jewellers Limited do?
Shankesh Jewellers Limited manufactures handcrafted 22-karat and 18-karat gold jewellery and provides customised jewellery and job-work services. The company primarily operates in the B2B segment and supplies jewellery to corporate and non-corporate customers across India.
