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Shankesh Jewellers IPO
Price Band
₹88.0–93.0
Issue Size
₹367.18 Cr
Lot Size
160 shares
Min Investment
₹14,880
GMP
+₹2.75 (2.96%)
Issue Price
₹93.0
Subject to Sauda
₹300
Paid only if allotted
Shankesh Jewellers IPO AI Summary
- Shankesh Jewellers IPO is listed on BSE, NSE in the Gems, Jewellery And Watches sector.
- Price band: ₹88.0–₹93.0 per share, lot size 160 shares (min. investment ₹14,880).
- Subscription window: 18 Aug–20 Aug 2026, listing on 25 Aug 2026.
- Current GMP is +₹2.75 (2.96%), an estimated listing price of ₹96 — unofficial and can change daily.
Shankesh Jewellers Limited is a manufacturer of customized handcrafted gold jewellery with a strong market presence. The company has shown significant growth in revenue and profit over the past years. The IPO offers investors an opportunity to participate in its growth, with proceeds aimed at debt repayment and working capital.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Shankesh Jewellers IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 20 Aug 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
2.80x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
1.32x
|
1.32x |
| NII (HNI) |
5.68x
|
5.68x |
| ↳ bNII (>₹10L) |
5.29x
|
5.29x |
| ↳ sNII (<₹10L) |
6.46x
|
6.46x |
| Retail (RII) |
2.42x
|
2.42x |
| Total | 2.80x | 2.80x |
Auto-updated every 5 min · As of 20th Aug 2026 18:56
Shankesh Jewellers IPO Grey Market Premium (GMP) Today
GMP
+₹2.75
GMP %
+2.96%
Est. Listing
₹95.75
Updated: 25 Aug 2026 06:30
GMP Trend (Last 14 Days)
About the Company
Incorporated in 2005, Shankesh Jewellers Limited is engaged in the business of manufacturing and providing customised handcrafted gold jewellery. The company specialises in 22-karat and 18-karat gold jewellery, offering a wide product portfolio including bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings, and combined sets across categories such as antique, semi-antique, Calcutta, temple, gheru polish, and yellow/rodium/rose gold jewellery. The company distributes products PAN-India to both corporate and non-corporate clients. Its clientele includes reputed jewellers such as 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 follows an asset-light model by engaging skilled local karigars and jobworkers for production while managing design, material sourcing, and delivery in-house. In addition to product sales, it offers job work services where clients provide bullion and specific design requirements. All jewellery is BIS-hallmarked as per regulatory guidelines. Its product portfolio is classified into two segments: Sales of handcrafted jewellery (22k and 18k) Custom job work services (client-supplied bullion and design execution) With a legacy of over three decades in the handmade jewellery market, the company has built strong relationships with leading jewellery brands by consistently delivering design excellence, craftsmanship, and customised solutions.
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 403.76 | 249.56 | 177.07 |
| Total Income | 1,630.93 | 1,403.94 | 1,061.91 |
| Profit After Tax | 106.68 | 40.31 | 12.82 |
| EBITDA | 157.90 | 65.35 | 28.60 |
| NET Worth | 209.43 | 100.60 | 60.29 |
| Reserves and Surplus | 150.65 | 90.83 | 57.50 |
| Total Borrowing | 167.30 | 145.63 | 109.81 |
Key Ratios
EPS
₹9.08
NAV
₹8.58
ROE
40.08%
ROCE
26.28%
RoNW
40.07%
P/B Value
10.84
P/E Ratio
10.24
Market Cap
₹1367.39 Cr
PAT Margin
2.87%
Debt/Equity
1.44
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Sky Gold And Diamonds Limited | 77.8 | 23.37% | 35.42 | 18.07 | 18.06 |
| Shanti Gold International Limited | 83 | 23.42% | 9.76 | 21.22 | 21.22 |
| Shankesh Jewellers Ltd. This IPO | 17.82 | 50.97% | — | 9.09 | 9.09 |
Promoters
Kantilal Kheemraj Jain, Mahavir Kantilal Jain, Manoj Kantilal Jain
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment/pre-payment, in full or part, of certain borrowings 158.00 2 Funding working capital requirements 38.00 3 General Corporate Purposes
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹1,061.91 Cr in the year ending 31 Mar 2024, rising to ₹1,403.94 Cr by 31 Mar 2025, and further increasing to ₹1,630.93 Cr by 31 Mar 2026.
Profit Trend
Profit after tax was ₹12.82 Cr in the year ending 31 Mar 2024, increasing to ₹40.31 Cr by 31 Mar 2025, and further rising to ₹106.68 Cr by 31 Mar 2026.
Valuation
Shankesh Jewellers has an implied P/E ratio of 10.24 at the issue price, compared to peer group P/E ratios ranging from 9.76 to 35.42.
Grey Market Premium, Explained
The grey market premium (GMP) refers to the unofficial price at which shares of an IPO are traded before they are listed on the stock exchange. A positive GMP indicates that investors expect the stock to list at a higher price than the issue price.
Subscription Demand
As of 20th Aug 2026, the IPO was subscribed 2.8 times overall. The breakdown shows that the Qualified Institutional Buyers (QIB) portion was subscribed 1.32 times, Non-Institutional Investors (NII) at 5.68 times, and Retail Individual Investors (RII) at 2.42 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's essential to consider the company's fundamentals and market conditions before making a decision.
Who May Want to Wait
Investors who prefer stable, low-risk investments might want to avoid IPOs like this, which can be subject to high volatility and market fluctuations.
IPO Timeline, Explained
The IPO opens for subscription on 18th August 2026 and closes on 20th August 2026. Allotment of shares will take place on 21st August 2026, with shares expected to be listed on 25th August 2026.
Listing Gains — The Risk
Investors should be aware that listing-day gains can be unpredictable. While some IPOs may list at a premium, others may not perform as expected due to market conditions or investor sentiment.
This evaluation is generated from Shankesh Jewellers's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Shankesh Jewellers IPO GMP today?
Shankesh Jewellers IPO GMP today is +₹2.75 (2.96%), indicating an estimated listing price of ₹96. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Shankesh Jewellers IPO?
The price band of Shankesh Jewellers IPO is ₹88.0–₹93.0 per share.
When does Shankesh Jewellers IPO open and close?
Shankesh Jewellers IPO opens on 18 August 2026 and closes on 20 August 2026.
When does Shankesh Jewellers IPO list on the stock exchange?
Shankesh Jewellers IPO listed on 25 August 2026 at ₹95.75.
What is the lot size for Shankesh Jewellers IPO?
The lot size for Shankesh Jewellers IPO is 160 shares, requiring a minimum investment of ₹14,880.
What is the price band for the IPO?
The price band for the IPO is ₹88.0 to ₹93.0.
What is the minimum investment required?
The minimum investment required is ₹14,880.
What is the lot size for this IPO?
The lot size for this IPO is 160 shares.
When is the listing date for the shares?
The shares are expected to be listed on 25th August 2026.
What does GMP stand for?
GMP stands for Grey Market Premium, indicating the expected listing price of the IPO shares in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
18 Aug 2026
Close
20 Aug 2026
Allotment
21 Aug 2026
Listing
25 Aug 2026
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