Shankesh Jewellers makes a firm debut on the bourses. The stock was listed at Rs 103.30 on the NSE, which is a premium of 11.08% to the issue price. Meanwhile, it was listed at Rs 102.20 on the BSE, up 9.89% from the issue price.
The company set the issue price at Rs 93 per equity share.
The company raised Rs 367.18 crores via a combination of 2.95 crore fresh shares amounting to Rs 274.18 crore and an offer for sale of 1 crore shares totalling Rs 93 crore.
The IPO subscription was opened for bidding on August 18 and ended on August 20. The allotment of IPO shares was finalised on August 21.
Shankesh Jewellers IPO: Lot size
A retail applicant has to file for a minimum of one lot that contains 160 shares. The minimum amount of investment required by an individual investor is Rs 14,880 at the upper price band.
Shankesh Jewellers IPO: BRLM and registrar
Aryaman Financial Services was the book-running lead manager for the IPO, and KFIN Technologies was the registrar of the issue.
Shankesh Jewellers IPO: Expert take
“Shankesh Jewellers is valued at 12.8x P/E on FY26 earnings. Given its strong financial growth, improving profitability, asset-light business model and established presence in the B2B handcrafted gold jewellery segment, the valuation is fairly priced. We believe that the IPO is fairly priced and recommend a ‘Subscribe: Long Term’ rating to the IPO,” said Anand Rathi Research in an IPO note during bidding.
About Shankesh Jewellers
Shankesh Jewellers is engaged in the business of manufacturing and providing customised handcrafted gold jewellery. Incorporated in 2005, 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, P. N. Gadgil & Sons, Kalyan Jewellers India, Novel Jewels (Aditya Birla Group), Manoj Vaibhav Gems ‘N’ Jewellers, and other established jewellery houses.