Shankesh Jewellers IPO GMP today is Rs 2. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
SHANKESH
Shankesh Jewellers IPO GMP, Subscription & Allotment Status Today
Shankesh Jewellers Limited is a B2B company that specializes in handcrafted gold jewellery. The company operates on a pan-India basis from its headquarters in Mumbai, supplying a wide array of jewellery to well-known corporate clients such as Joyalukkas, Kalyan Jewellers, and P N Gadgil Jewellers, as well as other non-corporate entities. Shankesh Jewellers follows an asset-light business model, outsourcing the manufacturing process to a network of skilled artisans and job workers, which allows the company to focus on design, customization, and inventory management. Its product portfolio includes a diverse range of 22-karat and 18-karat gold items like bangles, bridal sets, chokers, necklaces, and rings, all hallmarked as per BIS standards. The company generates revenue primarily through the direct sale of its jewellery and also offers custom job work services for clients who provide their own bullion.
- Price Band
- ₹88.00 - ₹93.00
- Lot Size
- 159 Shares
- Bidding Closes
- 20 Aug 2026
- Listing Date
- 25 Aug 2026
Current GMP Status
₹2
+2.15% vs upper band
Est. Listing Gain
+9.89%
Last Trend
25 Aug 2026
Listing Price
₹102.20
Retail Entry
₹14,787
IPO Details
Complete IPO information
| Current GMP | ₹2 |
|---|---|
| Estimated Listing Gain | +9.89% |
| Price Band | ₹88.00 - ₹93.00 |
| Issue Price | Approx ₹93.00 Crores |
| Listing Price | ₹102.20 |
| Lot Size | 159 Shares |
| Issue Type | Mainboard |
| Registrar | TBA |
| Exchange | BSE, NSE |
| Retail Quota | TBA |
| Overall Subscription | 0.61x |
| Listing Date | 25 Aug 2026 |
| Minimum Investment | ₹14,787 |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 78.96 | 14.52 | 0.18x |
| NII | 59.22 | 72.19 | 1.22x |
| Retail | 138.18 | 81.43 | 0.59x |
| Overall Subscription | 276.37 | 168.14 | 0.61x |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Shankesh Jewellers is priced at ₹93 per share. With a minimum lot size of 159 shares, a retail investor applying for one lot would need approximately ₹14,787 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for Shankesh Jewellers stands at ₹2, implying an estimated listing gain of around 2.15% over the issue price if it holds until listing. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Shankesh Jewellers's IPO was subscribed 0.61x overall, with a category-wise breakdown of Retail 0.59x, QIB 0.18x, NII 1.22x.
Among the strengths highlighted in Shankesh Jewellers's IPO documents: Experienced promoters with a presence of over three decades in the jewellery industry.; Established relationships with a large and diversified B2B customer base across India..
Investors should also weigh the risk factors Shankesh Jewellers has disclosed, including: Business success is highly dependent on the ability of its B2B customers to sell to end consumers..
A share of Shankesh Jewellers's issue proceeds is earmarked for Repayment Of Borrowings: 158 (57.63%).
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
18 Aug 2026
✓
Bidding Closes
20 Aug 2026
✓
Allotment
21 Aug 2026
✓
Listing
25 Aug 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 25 Aug 2026 | ₹2.00 | - | 2.15% |
| 20 Aug 2026 | ₹2.00 | -₹3.00 | 2.15% |
| 19 Aug 2026 | ₹5.00 | +₹3.00 | 5.38% |
| 18 Aug 2026 | ₹2.00 | -₹5.00 | 2.15% |
| 13 Aug 2026 | ₹7.00 | - | 7.53% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 159 | ₹14,787 |
| Retail Maximum | 13 Lot | 2,067 | ₹1,92,231 |
| S-HNI Minimum | 14 Lot | 2,226 | ₹2,07,018 |
| S-HNI Maximum | 67 Lot | 10,653 | ₹9,90,729 |
| B-HNI Minimum | 68 Lot | 10,812 | ₹10,05,516 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
- Repayment Of Borrowings 158 (57.63%)
- Working Capital 38 (13.86%)
- General Corporate Purpose 78.18 (28.51%)
Issue Notes
Important takeaways before applying
Strengths
- Experienced promoters with a presence of over three decades in the jewellery industry.
- Established relationships with a large and diversified B2B customer base across India.
- An asset-light and scalable business model with a focus on design and quality control.
- A consistent track record of financial growth in revenue and profitability.
- A wide and diverse portfolio of handcrafted jewellery designs to cater to varied customer demands.
Risks
- Business success is highly dependent on the ability of its B2B customers to sell to end consumers.
- The company’s financial stability is exposed to risks from the volatility of gold prices.
- The business is working capital intensive.
- Heavy reliance on third-party artisans for the manufacturing of all its jewellery.
- Faces significant competition from both organized and unorganized players in the jewellery sector.
Analysis
Shankesh Jewellers IPO Details
The Shankesh Jewellers IPO is a book-built public issue with an overall issue size of approximately ₹367.18 crores. The IPO comprises a fresh issue of approximately ₹274.18 crores along with an Offer for Sale (OFS) of approximately 1,00,00,000 equity shares.
The public issue is scheduled to open for subscription on August 18, 2026 and close on August 20, 2026. Shankesh Jewellers has set the IPO price band at ₹88 to ₹93 per equity share, while the face value is ₹5 per share. The company's equity shares are proposed to be listed on both the BSE and NSE.
| Particular | Details |
|---|---|
| IPO Open Date | August 18, 2026 |
| IPO Close Date | August 20, 2026 |
| Face Value | ₹5 Per Equity Share |
| IPO Price Band | ₹88 to ₹93 Per Share |
| Issue Size | Approx ₹367.18 Crores |
| Fresh Issue | Approx ₹274.18 Crores |
| Offer for Sale (OFS) | Approx 1,00,00,000 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE, NSE |
Note: The above table summarizes the key Shankesh Jewellers IPO details, including the issue dates, price band, fresh issue, Offer for Sale and proposed listing exchanges. Investors should also evaluate the company's financial performance, IPO valuation, objects of the issue, promoter holding and associated business risks before making an investment decision.
Analysis
Shankesh Jewellers IPO Reservation
The Shankesh Jewellers IPO has a category-wise reservation structure for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), Retail Individual Investors (RIIs), and Anchor Investors. This allocation determines the portion of the public issue available for subscription by each investor category.
As per the provided reservation structure, 50% of the offer is allocated to Qualified Institutional Buyers, excluding the anchor investor portion. 15% of the issue is reserved for Non-Institutional Investors, while 35% is reserved for Retail Individual Investors.
| Investor Category | Shares Offered | Reservation (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: The exact number of shares offered under each investor category is currently unavailable. These figures can be updated once the final category-wise reservation and anchor allocation details for the Shankesh Jewellers IPO are announced.
Analysis
Shankesh Jewellers IPO Anchor Investors
The Shankesh Jewellers IPO anchor investor bidding is scheduled for August 17, 2026, one day before the public issue opens for subscription. The final anchor investor list, number of equity shares allocated and total anchor investment amount will be available after completion of the anchor bidding process.
The anchor allocation will be subject to the applicable lock-in requirements. As per the provided structure, 50% of the anchor shares will be subject to a 30-day lock-in period, while the remaining 50% will be subject to a 90-day lock-in period.
| Particular | Details |
|---|---|
| Anchor Bidding Date | August 17, 2026 |
| Anchor Investors List | To be Updated |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date – 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date – Remaining 50% Shares (90 Days) | 2026 |
Note: The anchor investor names, shares allocated, anchor size and exact 30-day and 90-day lock-in expiry dates will be updated once the final Shankesh Jewellers IPO anchor allocation details are announced.
Analysis
Shankesh Jewellers IPO Dates
The Shankesh Jewellers IPO is scheduled to open for subscription on August 18, 2026 and close on August 20, 2026. Investors can submit their IPO applications during this three-day subscription period.
After the issue closes, the basis of allotment is expected to be finalized on August 21, 2026. Refunds for unsuccessful applicants are scheduled for August 24, 2026, while successful applicants are expected to receive the allotted equity shares in their demat accounts on the same day. The Shankesh Jewellers IPO listing date is August 25, 2026.
| IPO Event | Date |
|---|---|
| IPO Open Date | August 18, 2026 |
| IPO Close Date | August 20, 2026 |
| Basis of Allotment | August 21, 2026 |
| Refunds | August 24, 2026 |
| Credit to Demat Account | August 24, 2026 |
| IPO Listing Date | August 25, 2026 |
Note: The above table provides the proposed Shankesh Jewellers IPO timeline from opening through listing. The schedule may be revised if any changes are announced by the company, registrar or stock exchanges.
Analysis
Shankesh Jewellers IPO Promoters and Holding Pattern
The promoters of Shankesh Jewellers are Kantilal Kheemraj Jain, Mahavir Kantilal Jain and Manoj Kantilal Jain. Prior to the IPO, the promoter and promoter group collectively hold 95.48% of the company's equity share capital, while other shareholders hold the remaining 4.52%.
The promoter and promoter group hold 11,22,32,400 equity shares before the IPO, while other shareholders hold 53,17,020 equity shares. The company's total equity share capital consists of 11,75,49,420 shares before the issue and is expected to increase to 14,75,49,420 shares after the IPO.
Promoters of Shankesh Jewellers
- Kantilal Kheemraj Jain
- Mahavir Kantilal Jain
- Manoj Kantilal Jain
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 11,22,32,400 | 95.48% | – | -% |
| Others* | 53,17,020 | 4.52% | – | -% |
| Total | 11,75,49,420 | 100% | 14,75,49,420 | 100% |
Note: The above table summarizes the available pre-IPO and post-IPO shareholding information of Shankesh Jewellers. The exact promoter and public shareholding after the IPO can be updated once the complete post-issue shareholding pattern is available.
Analysis
Shankesh Jewellers IPO Objects of the Issue & Utilisation of Proceeds
Shankesh Jewellers proposes to utilise the fresh issue proceeds primarily for the repayment or prepayment of certain outstanding borrowings and to support the company's working capital requirements. A portion of the proceeds will also be available for general corporate purposes.
The company proposes to allocate approximately ₹158.00 crores towards repayment or prepayment of certain borrowings. Another ₹38.00 crores is proposed to be utilised for working capital requirements, which may support the company's day-to-day operating and business requirements.
| Purpose | Amount |
|---|---|
| Repayment/pre-payment, in full or part, of certain borrowings | ₹158.00 Crores |
| Funding working capital requirements | ₹38.00 Crores |
| General Corporate Purposes | ₹- |
Note: The above amounts represent the proposed utilisation of the Shankesh Jewellers IPO proceeds. Repayment of borrowings may help reduce the company's outstanding debt and finance costs, while additional working capital may support its ongoing business operations.
Analysis
Shankesh Jewellers About Ipo
Shankesh Jewellers, incorporated in 2005, is one of the leading manufacturers of handcrafted 22-karat and 18-karat gold jewellery. Its product portfolio includes bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings, and sets of antique, semi-antique, Calcutta, temple, gheru polish, and yellow/rodium/rose gold jewellery.
The firm sells its products PAN-India to both corporate and non-corporate clients. Some of its major clients are Joyalukkas India Limited, P. N. Gadgil & Sons Limited, Kalyan Jewellers India Limited, Novel Jewels Limited (Aditya Birla Group), Manoj Vaibhav Gems ‘N’ Jewellers Limited, and other established jewellery houses. Shankesh Jewellers has over 30 years of experience and is equipped with skilled local karigars and job workers to design handcrafted jewellery (22k and 18k).
Analysis
Shankesh Jewellers IPO Company Financial Report
Shankesh Jewellers recorded consistent growth in its business between FY2024 and FY2026. Revenue increased from ₹1,061.91 crores in FY2024 to ₹1,403.94 crores in FY2025 and further reached ₹1,630.93 crores in FY2026.
The improvement in profitability was considerably stronger than the increase in revenue. Profit After Tax (PAT) rose from ₹12.82 crores in FY2024 to ₹40.31 crores in FY2025 and then increased to ₹106.68 crores in FY2026. The company's asset base also expanded from ₹177.07 crores in FY2024 to ₹403.76 crores in FY2026.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹1,061.91 Cr. | ₹1,044.67 Cr. | ₹12.82 Cr. | ₹177.07 Cr. |
| 2025 | ₹1,403.94 Cr. | ₹1,349.91 Cr. | ₹40.31 Cr. | ₹249.56 Cr. |
| 2026 | ₹1,630.93 Cr. | ₹1,487.54 Cr. | ₹106.68 Cr. | ₹403.76 Cr. |
Amount in ₹ Crores: The above table summarizes Shankesh Jewellers' revenue, expenses, Profit After Tax (PAT) and total assets from FY2024 to FY2026. The company recorded growth in revenue as well as a notable improvement in profitability during this period. Investors should also evaluate margins, borrowings, cash flows, IPO valuation and peer-group performance while assessing the issue.
Analysis
Shankesh Jewellers IPO Valuation – FY2026
The Shankesh Jewellers IPO valuation can be assessed using key financial indicators such as Earnings Per Share (EPS), Return on Equity (ROE), Return on Capital Employed (ROCE), EBITDA Margin, PAT Margin, debt-to-equity ratio, Return on Net Worth (RoNW) and Net Asset Value (NAV).
For FY2026, Shankesh Jewellers reported a ROE of 50.94% and ROCE of 41.57%. The EBITDA margin stood at 9.68%, while the PAT margin was 6.54%. The company reported basic EPS of ₹9.09, RoNW of 50.94% and a Net Asset Value of ₹17.82 per share.
| KPI | Values |
|---|---|
| ROE | 50.94% |
| ROCE | 41.57% |
| EBITDA Margin | 9.68% |
| PAT Margin | 6.54% |
| Debt to Equity Ratio | 0.80 |
| Earning Per Share (EPS) | ₹9.09 (Basic) |
| Price / Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 50.94% |
| Net Asset Value (NAV) | ₹17.82 |
Note: The above valuation metrics are based on FY2026 financial information. Investors should compare these indicators with the IPO price band, peer-group valuations, revenue and profit growth, debt levels, margins and overall business outlook while evaluating the Shankesh Jewellers IPO.
Analysis
Shankesh Jewellers IPO Peer Group Comparison
The Shankesh Jewellers IPO peer group comparison provides a benchmark for evaluating the company's financial performance and valuation against listed companies operating in the jewellery industry. Key comparison parameters include Earnings Per Share (EPS), Price-to-Earnings (P/E) ratio, Return on Net Worth (RoNW), Net Asset Value (NAV) and income.
The identified peer group includes Shanti Gold International Limited and Sky Gold & Diamonds Limited. Shanti Gold International reported EPS of 21.22 and a P/E ratio of 10.04, while Sky Gold & Diamonds reported EPS of 18.07 and a P/E ratio of 34.86. Their RoNW figures are relatively similar at 23.42% and 23.37%, respectively.
| Company | EPS | P/E Ratio | RoNW (%) | NAV | Income |
|---|---|---|---|---|---|
| Shanti Gold International Limited | 21.22 | 10.04 | 23.42% | 83.00 | 2,018.71 Cr. |
| Sky Gold & Diamonds Limited | 18.07 | 34.86 | 23.37% | 77.80 | 6,294.89 Cr. |
Note: Peer-group figures should be used as comparative benchmarks rather than viewed in isolation. Investors should compare Shankesh Jewellers' EPS, RoNW, NAV, IPO price band, profitability, revenue growth, debt position and business scale with its listed peers while evaluating the IPO.
Analysis
IPO Lead Managers aka Merchant Bankers
- Aryaman Financial Services Ltd.
- Smart Horizon Capital Advisors Pvt. Ltd.
FAQ
Shankesh Jewellers IPO FAQs
Shankesh Jewellers IPO price band is Rs 88.00 to Rs 93.00. Check the latest issue price, lot size and GMP together before applying.
Shankesh Jewellers IPO open date is 18 Aug 2026, close date is 20 Aug 2026, and listing date is 25 Aug 2026.
Shankesh Jewellers IPO lot size is 159 shares. The minimum retail investment is Rs 14,787.
Shankesh Jewellers is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Shankesh Jewellers IPO subscription status currently shows Retail 0.59x, QIB 0.18x, NII 1.22x, Overall 0.61x.
Shankesh Jewellers Limited is a B2B company that specializes in handcrafted gold jewellery. The company operates on a pan-India basis from its headquarters in Mumbai, supplying a wide array of jewellery to well-known corporate clients such as Joyalukkas, Kalyan Jewellers, and P N Gadgil Jewellers, as well as other non-corporate entities. Shankesh Jewellers follows an asset-light business model, outsourcing the manufacturing process to a network of skilled artisans and job workers, which allows the company to focus on design, customization, and inventory management. Its product portfolio includes a diverse range of 22-karat and 18-karat gold items like bangles, bridal sets, chokers, necklaces, and rings, all hallmarked as per BIS standards. The company generates revenue primarily through the direct sale of its jewellery and also offers custom job work services for clients who provide their own bullion.
Shankesh Jewellers IPO issue size is 367.18 and the expected allotment date is 21 Aug 2026.
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