Summary
Shankesh Jewellers IPO is a ₹367.18 crore mainboard issue, open for subscription from 18 to 20 August 2026.
Shankesh Jewellers offers handcrafted 18-karat and 22-karat gold jewellery, along with customisation and job work services.
The company has recorded improving profitability, margins and return ratios, alongside a reduction in leverage.
Grey market sentiment remains neutral with a ₹0 GMP. The offering may suit investors prepared for fluctuations in gold prices and jewellery demand.
Shankesh Jewellers IPO is a ₹367.18 crore book-built issue. It includes a fresh issue of around 2.95 crore shares worth ₹274.18 crore and an offer for sale of 1 crore shares worth ₹93 crore.
Investors can apply starting from 18 August 2026. The subscription window will close on 20 August 2026. The allotment is expected to be finalised on 21 August 2026, while the shares are scheduled to list on the BSE and NSE on 25 August 2026.
The price band has been set at ₹88 to ₹93 per share, with 160 shares in each lot. At the upper end of the price band, the minimum investment for a retail investor is ₹14,880.
Shankesh Jewellers IPO Key Details
The key details of the Shankesh Jewellers IPO are presented below:
| Bidding Opens | 18 August 2026 |
| Bidding Closes | 20 August 2026 |
| Face Value | ₹5 per share |
| Issue Type | Bookbuilding IPO |
| Price Band | ₹88 to ₹93 |
| Issue Price | |
| Listing On | NSE, BSE |
| Lot Size | 160 Shares |
| Offer for Sale (OFS) | 1,00,00,000 shares ( ₹93 crore) |
| Fresh Issue | 2,94,82,000 shares (₹274 crore) |
| Total Issue | 3,94,82,000 shares (₹367 crore) |
| Minimum Investment | ₹14,880 |
Shankesh Jewellers IPO Timeline
The important dates related to the Shankesh Jewellers IPO are as follows:
| Bidding Opens | 18 August 2026 |
| Bidding Closes | 20 August 2026 |
| Allotment Planned For | 21 August 2026 |
| Refunds Start On | 24 August 2026 |
| Share Credit to Demat | 24 August 2026 |
| Listing Scheduled | 25 August 2026 |
| Cut-off for UPI mandate | 5:00 PM on 20 August 2026 |
Shankesh Jewellers Key Performance Indicators (KPIs)
The table below highlights the KPIs of Shankesh Jewellers:
| KPIs | FY 2026 | FY 2025 | FY 2024 |
| ROE (%) | 50.94 | 40.08 | 21.26 |
| ROCE (%) | 41.57 | 26.28 | 16.46 |
| Debt-Equity (times) | 0.80 | 1.44 | 1.80 |
| RoNW (%) | 50.94 | 40.07 | 21.26 |
| PAT Margin (%) | 6.54 | 2.87 | 1.21 |
| EBITDA Margin (%) | 9.68 | 4.65 | 2.69 |
| Price Book Value |
Shankesh Jewellers Financials
Here is a closer look at the company’s financial metrics:
| Period | FY 2026 | FY 2025 | FY 2024 |
| Total Assets | 4,037.61 | 2,495.58 | 1,770.72 |
| Revenue | 16,309.28 | 14,039.38 | 10,619.07 |
| Profit After Tax | 1,066.81 | 403.12 | 128.16 |
(Amount in ₹ million)
Shankesh Jewellers IPO Subscription Status
Subscription data for the Shankesh Jewellers IPO is not available yet, as the issue has not opened for bidding.
The figures will be updated once the subscription period begins.
Investors can submit their bids between 10:00 AM and 5:00 PM on each subscription day.
Shankesh Jewellers IPO Grey Market Premium
The Shankesh Jewellers IPO currently has a GMP of ₹0, showing a neutral trend in the grey market. This puts the estimated listing price at ₹93, the same as the upper issue price, with no expected listing gain.
| Date | GMP | Estimated Listing Price | Estimated Listing Gain | Trend | Last Updated |
| 12-08-2026 | ₹0 | ₹93.00 | (0.00%) | Neutral | 12 Aug 2026 13:31 |
| 11-08-2026 | ₹0 | ₹93.00 | (0.00%) | Neutral | 11 Aug 2026 23:28 |
| 10-08-2026 | – | 10 Aug 2026 18:10 |
Note: GMP is an unofficial indicator of market sentiment and does not assure listing returns.
Shankesh Jewellers IPO Reservation
The category-wise share allocation for the IPO is provided in the following table:
Shankesh Jewellers IPO Lot Size
Investors can apply for the IPO in accordance with the lot sizes mentioned below:
| Application Type | Lots | Shares | Amount |
| Individual Investor – Minimum | 1 | 160 | ₹14,880 |
| Individual Investor – Maximum | 13 | 2,080 | ₹1,93,440 |
| S-HNI Minimum | 14 | 2,240 | ₹2,08,320 |
| S-HNI Maximum | 67 | 10,720 | ₹9,96,960 |
| B-HNI Minimum | 68 | 10,880 | ₹10,11,840 |
Shankesh Jewellers IPO Anchor Investors
Here are the details of the anchor investors in the offering:
| Particulars | Details |
| Bidding Opens | 17 August 2026 |
| Shares Offered | Not disclosed yet |
| Portion Size | Up to 60% of the QIB portion |
| 30-Day Lock-in for 50% Shares | 20 September 2026 |
| 90-Day Lock-in for Remaining Shares | 19 November 2026 |
Shankesh Jewellers IPO Prospectus
To learn more about the Shankesh Jewellers IPO, refer to the resources given below:
About Shankesh Jewellers
Incorporation: 11 July 2005
Managing Director: Manoj Kantilal Jain
Shankesh Jewellers is engaged in hand-crafted 18-karat and 22-karat gold jewellery, offering bangles, bridal jewellery, chokers, necklaces, rings and other traditional designs. It also provides customisation and job work services, catering to corporate and non-corporate jewellers across India, including Kalyan Jewellers, Joyalukkas and P. N. Gadgil & Sons.
The company follows an asset-light model, outsourcing jewellery production to job workers who engage skilled Karigars. Shankesh Jewellers manages design, sourcing, quality control and delivery, while focusing on customisation, inventory management and timely supply to clients across India.
| Issue Registrar | Kfin Technologies Ltd. |
| Lead Manager | Aryaman Financial Services Ltd.Smart Horizon Capital Advisors Pvt. Ltd. |
Shankesh Jewellers IPO Objectives
Here is how the company intends to deploy the IPO proceeds:
| Particulars | Amount (in ₹ million) |
| Pre-payment/repayment of borrowings | 1,580.00 |
| Working capital requirements | 380.00 |
| General corporate purposes |
Strengths of Shankesh Jewellers
- Experienced jobworker network: Long-standing relationships with specialised jobworkers provide access to skilled craftsmanship across different styles of hand-crafted jewellery.
- Strong leadership: The promoters bring decades of jewellery industry experience, supporting business development, strategic planning and understanding of customer preferences.
- Focus on quality: The company supplies BIS-hallmarked gold jewellery, supported by regular quality checks and designs tailored to customer requirements.
- Financial growth: Revenue, EBITDA and profit after tax have increased across the last three financial years, supported by expanding business operations.
Risks of Shankesh Jewellers
- Dependence on customer demand: The company’s sales depend on demand for jewellery among its clients’ end consumers, making it vulnerable to weaker consumer spending.
- Security and transit risks: Transporting high-value gold jewellery creates exposure to theft, loss or damage, while insurance may not fully cover resulting losses.
- Dependence on jobworkers: All jewellery production is outsourced, making operations vulnerable to jobworker disruptions, Karigar shortages, delivery delays or failure to meet quality standards.
- Raw material price volatility: Fluctuations in gold, diamonds and other raw material prices can raise costs, weaken demand or put pressure on profitability.
Shankesh Jewellers IPO Review
Shankesh Jewellers enters the market with improving profitability, stronger returns on capital and lower leverage. Its asset-light model and established client base support the business, though dependence on job workers, gold price movements and consumer demand remain key risks. The grey market sentiment remains neutral, with no premium indicated at present.
The offering may suit investors comfortable with the risks of the jewellery business. Investors should also weigh the company’s valuation against its fundamentals before applying.
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Shankesh Jewellers IPO FAQs
Shankesh Jewellers IPO is a ₹367.18 crore mainboard book-built issue comprising a fresh issue of ₹274.18 crore and an OFS of ₹93 crore.
Investors can apply through their broker or supported banking platform using UPI or ASBA during the subscription period.
The company has recorded improving profitability, margins and return ratios, along with lower leverage. However, investors should consider risks such as gold price volatility and outsourced production before placing their application.
There are no assured returns from an IPO. As of 12 August 2026, the GMP is ₹0, indicating no estimated listing gain over the upper issue price, though actual listing performance may differ.
The Shankesh Jewellers IPO will open for subscription on 18 August 2026 and close on 20 August 2026.
