Shankesh Jewellers IPO subscribed 36%

The offer received bids for 98.74 lakh shares as against 2.76 crore shares on offer.

The initial public offer of Shankesh Jewellers received bids for 98,74,400 shares as against 2,76,37,400 shares on offer, according to stock exchange data at 17:00 IST on Tuesday (18 August 2026). The issue was subscribed 0.36 times.

The issue opened for bidding on 18 August 2026 and it will close on 20 August 2026. The price band of the IPO is fixed between Rs 88 and 93 per share. An investor can bid for a minimum of 160 equity shares and multiples thereof.

The IPO comprises fresh issue of equity shares worth up to Rs 274.18 crore and an offer for sale of 1,00,00,000 equity shares aggregating up to Rs 93 crore by Kantilal Kheemraj Jain and Manoj Kantilal Jain.

The objectives of the fresh issue include Rs 158 crore for repayment/prepayment of certain borrowings, Rs 38 crore for funding working capital requirements, and the remaining amount for general corporate purposes.

The promoters are Kantilal Kheemraj Jain, Mahavir Kantilal Jain and Manoj Kantilal Jain. The promoters and promoter group hold an aggregate of 11,22,32,400 equity shares, aggregating to 95.48% of the pre-offer issued and paid-up equity share capital. Their post IPO shareholding is expected to be around 69.53%.

Shankesh Jewellers is a hand-crafted gold jewellery company operating an asset-light model, with production primarily outsourced to skilled job workers. The company offers a wide range of 22-karat and 18-karat jewelry, including bridal, antique, temple and customized designs, and caters to corporate and non-corporate clients across India. Corporate clients contributed 64.25% of revenue in FY26, while its top five customers accounted for 23.26%, indicating some customer concentration. The company served 418 customers in FY26, including 334 repeat customers, and continues to expand its market presence through B2B jewellery exhibitions.

Ahead of the IPO, Shankesh Jewellers on Monday, 17 August 2026, raised Rs 110.15 crore from anchor investors. The board allotted 1.18 crore shares at Rs 93 each to 14 anchor investors.

The firm reported a consolidated net profit of Rs 106.68 crore and sales of Rs 1,630.79 crore for the twelve months ended on 31 March 2026.

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