Home › Listed IPOs › Shankesh Jewellers IPO
Shankesh Jewellers IPOLISTED
Shankesh Jewellers is a handcrafted gold jewellery manufacturer specialising in customised 22K and 18K jewellery across diverse traditional designs.
Listing price
₹103.3
Listing gain
+11.08%
Current
₹103.3
Listed
25 Aug 26
Opens
18 Aug 26Closes
20 Aug 26Allotment
21 Aug 26Refund
24 Aug 26Demat
24 Aug 26Listing
25 Aug 26Listed at
₹103.3
+11.08% on 25 Aug 26
Overview
Price band
₹88-93
Lot size
160 shares
Min. investment
₹14,880
Issue size
₹367.18 Cr
3.95 Cr shares
Fresh issue
₹274.18 Cr
2.95 Cr shares
Offer for sale
₹93 Cr
1.00 Cr shares
Face value
₹5 / share
Issue type
Book Built Issue
Listing at
NSE, BSE
Reservation
| Category | Shares offered | % of issue |
|---|---|---|
| QIB | 78,96,400 | 50% |
| NII (HNI) | 59,22,300 | 15% |
| B-HNI | 39,48,200 | — |
| S-HNI | 19,74,100 | — |
| Individual | 1,38,18,700 | 35% |
| Total | 2,76,37,400 | 100% |
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 160 | ₹14,880 |
| Retail (Max) | 13 | 2,080 | ₹1,93,440 |
| S-HNI (Min) | 14 | 2,240 | ₹2,08,320 |
| S-HNI (Max) | 67 | 10,720 | ₹9,96,960 |
| B-HNI (Min) | 68 | 10,880 | ₹10,11,840 |
Listing performance
NSE/BSE: SHANKESHListing gain
+11.08%
Gain per retail lot
₹1,648
Latest vs issue
—
GMP was
₹2.5 (+2.69%)
Issue price
GMP estimate
Listing price
Latest price appears here during market hours.
Shankesh Jewellers Live GMP
Latest GMP
₹2.5
All-time high
₹7
All-time low
₹2.5
Subscription
21 Aug, 12:00 amOversubscribed 2.80 times · 1,68,266 applications
Total applications
1,68,266
Total bid amount
₹720 Cr
Category breakdown
| Category | Shares offered | Shares bid | Times | Bid amount |
|---|---|---|---|---|
| QIB | 78,96,400 | 1,03,92,160 | 1.32x | ₹96.65 Cr |
| NII (HNI) | 59,22,300 | 3,36,16,960 | 5.68x | ₹313 Cr |
| B-HNI | 39,48,200 | 2,08,69,120 | 5.29x | ₹194 Cr |
| S-HNI | 19,74,100 | 1,27,47,840 | 6.46x | ₹119 Cr |
| Retail | 1,38,18,700 | 3,34,29,120 | 2.42x | ₹311 Cr |
| Total | 2,76,37,400 | 7,74,38,240 | 2.80x | ₹720 Cr |
Application-wise breakup
| Category | Applications reserved | Applied | Times |
|---|---|---|---|
| B-HNI | 1,763 | 1,636 | 0.93x |
| S-HNI | 881 | 5,496 | 6.24x |
| Retail | 86,367 | 1,61,282 | 1.87x |
Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).
Financials
(₹ in crores)
Key performance indicators
As of 31 Mar 2026ROE
50.94%
PAT Margin
6.54%
ROCE
41.57%
EBITDA Margin
9.68%
Debt to Equity Ratio
0.8
RoNW
50.94%
Valuation vs listed peers
EPS Pre IPO
₹9.08
EPS Post IPO
₹7.26
P/E Pre IPO
10.24
P/E Post IPO
12.81
Price-to-earnings
| Company | P/E | P/B | RoNW | Face value |
|---|---|---|---|---|
| Shanti Gold International Limited | 10.04 | — | — | — |
| Sky Gold & Diamonds Limited | 34.86 | — | — | — |
Peer median P/E 22.4× · Ratios as disclosed in the offer document.
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
+53.6%
Profit growth FY24 → FY26
+732.1%
P/E vs peer median
12.8× vs 22.4×
- PAT margin 6.5% and ROCE 41.6%.
- Priced below its listed-peer median P/E.
Strengths & risks
- The company has delivered strong growth in revenue and profitability over the last three financial years.
- Its asset-light model allows manufacturing to be outsourced while the company focuses on design, sourcing, quality and customer management.
- The company has established relationships with reputed jewellery brands across India.
- Its promoters have extensive experience in the jewellery industry, supporting business operations and growth.
- The company offers a wide range of handcrafted gold jewellery along with customised jewellery solutions.
- It has a PAN-India customer base, with sales across multiple states.
Buzz score · Neutral
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Repayment/pre-payment, in full or part, of certain borrowings | 158 |
| Funding working capital requirements | 38 |
| General Corporate Purposes | - |
Company & documents
Shankesh Jewellers Limited is engaged in handcrafted gold jewellery and customised jewellery solutions, specialising in 22-karat and 18-karat gold.
Its product portfolio includes bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings, and jewellery sets across Antique, Semi-Antique, Calcutta, Temple, Gheru Polish, Yellow Gold, Rhodium, and Rose Gold categories.
The company has a PAN-India B2B presence, supplying jewellery to reputed corporate and non-corporate jewellery businesses, including Joyalukkas, P. N. Gadgil, Kalyan Jewellers, Novel Jewels and Bhima Jewellery, among others.
Shankesh Jewellers follows an asset-light model, outsourcing manufacturing to skilled Karigars and jobworkers while managing design, sourcing, quality checks, inventory, sales and customer relationships in-house.
The company also provides custom job work services, where clients supply bullion and design requirements, while Shankesh Jewellers manages production through Karigars and jobworkers. Its gold jewellery is BIS-hallmarked as per regulatory guidelines.
The company’s business can broadly be classified into two segments:
- Sales of Handcrafted Gold Jewellery: 22-karat and 18-karat gold jewellery across multiple designs, categories and finishes.
- Custom Job Work Services: Jewellery manufacturing based on client-supplied bullion and specific design requirements.
As of May 31, 2026, Shankesh Jewellers had 46 permanent employees and 72 job workers across key functions including administration, sales, design, client servicing and quality.
Registrar
Company contact
Shankesh Jewellers Ltd.
Office No. 12, 3rd Floor, 101 Mumbadevi Diamond Premises Co- Op, Society Ltd Zaveri Bazar Mumbai, Maharashtra, 400002
Phone: +91 22234700089
Email: cs@shankeshjewellers.com
Book running lead managers
- Aryaman Financial Services Ltd.
- Smart Horizon Capital Advisors Pvt.Ltd.
Promoters
- Kantilal Kheemraj Jain
- Mahavir Kantilal Jain
- Manoj Kantilal Jain