Shankesh Jewellers IPO 2026: Price Band, GMP, Subscription, Financials & Key Details

The Shankesh Jewellers IPO is scheduled to open for subscription on August 18, 2026, and close on August 20, 2026. The company aims to raise ₹367.18 crore through a combination of a ₹274.18 crore fresh issue and an Offer for Sale (OFS) of ₹93 crore.

The IPO price band has been fixed at ₹88 to ₹93 per share, with a lot size of 160 shares. Retail investors need a minimum investment of ₹14,880 at the upper price band. The shares are proposed to be listed on both the NSE and BSE on August 25, 2026.

Shankesh Jewellers Limited is engaged in the manufacturing and supply of customised handcrafted gold jewellery, primarily in 22-karat and 18-karat gold. The company supplies jewellery to corporate and non-corporate customers across India and has relationships with established jewellery brands.

In this article, we cover the Shankesh Jewellers IPO details, GMP, subscription status, financial performance, business model, IPO objectives, competitive strengths, risks, peer comparison, allotment and investment analysis.
 

Shankesh Jewellers IPO Details

Shankesh Jewellers IPO Timeline

The above dates are tentative and subject to change.

Shankesh Jewellers IPO GMP

As of August 11, 2026, the Shankesh Jewellers IPO GMP is ₹0 based on the supplied grey-market data.

With the upper price band fixed at ₹93 per share, a GMP of ₹0 implies an estimated listing price of approximately ₹93 per share, representing no premium or discount to the issue price.

The GMP history is still limited, so it is too early to establish a meaningful trend.

GMP is an unofficial and unregulated market indicator and can change significantly before the IPO listing. Investors should not make an investment decision solely on the basis of GMP.

Shankesh Jewellers IPO Subscription Status

The Shankesh Jewellers IPO will open for subscription on August 18, 2026 and close on August 20, 2026.

As of August 11, 2026, the IPO has not yet opened for bidding, so live subscription data is not available.

Current Subscription: Yet to Open

Live subscription figures will be updated once bidding begins. 

Shankesh Jewellers IPO Day-wise Subscription Trend

What is the current subscription data for Shankesh Jewellers IPO?

The live subscription data will be updated using official BSE and NSE bidding information once the IPO opens. The table below will display the total shares offered, shares bid, and subscription multiple across different investor categories.

Shankesh Jewellers IPO Reservation

The IPO shares are proposed to be reserved across investor categories as per applicable IPO regulations.
 

Shankesh Jewellers Financial Performance

Shankesh Jewellers has reported strong growth in revenue and profitability over the reported financial periods.

Total income increased from ₹1,061.91 crore in FY24 to ₹1,630.93 crore in FY26, while PAT increased from ₹12.82 crore to ₹106.68 crore over the same period.

The company recorded substantial growth in PAT and EBITDA during FY26. Profit after tax increased from ₹40.31 crore in FY25 to ₹106.68 crore in FY26.

Key Financial Ratios

The company's return ratios improved significantly in FY26. ROE increased to 50.94%, while ROCE rose to 41.57%.

The PAT margin also improved from 2.87% in FY25 to 6.54% in FY26, indicating stronger profitability.

What is Shankesh Jewellers Ltd.?

Incorporated in 2005, Shankesh Jewellers Limited is engaged in the manufacturing and supply of customised handcrafted gold jewellery.

The company specialises in 22-karat and 18-karat gold jewellery and offers products across multiple categories, including bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings and combination sets.

Its jewellery portfolio includes designs such as antique, semi-antique, Calcutta, temple and gheru polish, along with yellow gold, rhodium and rose gold jewellery.

Shankesh Jewellers follows an asset-light manufacturing model by working with skilled local karigars and job workers. The company manages activities such as jewellery design, material sourcing and delivery while production is carried out through its network of skilled artisans and job workers.

The company also provides custom job work services, where customers provide bullion and design specifications and Shankesh Jewellers undertakes the manufacturing process.

All jewellery manufactured by the company is BIS-hallmarked as applicable under regulatory requirements.

Product Segments

The company's business can broadly be divided into two segments:

• Sale of Handcrafted Jewellery – Primarily 22K and 18K gold jewellery.
• Custom Job Work Services – Manufacturing based on customer-provided bullion and design requirements.
• The company distributes its products across India to corporate and non-corporate customers.
• Its clientele includes established jewellery companies such as Joyalukkas India Limited, P. N. Gadgil & Sons Limited, Kalyan Jewellers India Limited, Novel Jewels Limited, Manoj Vaibhav Gems 'N' Jewellers Limited and other jewellery houses.

The company has developed long-term relationships with jewellery brands by providing customised designs, craftsmanship and manufacturing solutions.

Shankesh Jewellers IPO Objectives

The company proposes to utilise the net proceeds from the fresh issue for the following purposes:
 

The largest portion of the fresh issue proceeds is proposed to be used for repayment or prepayment of borrowings, which could help reduce the company's debt burden and associated finance costs.

A portion of the proceeds will also be used to fund working capital requirements, which is important for a jewellery business because of its inventory and working-capital needs.

Shankesh Jewellers IPO Peer Comparison

The company has identified Sky Gold and Diamonds Limited and Shanti Gold International Limited as key listed peers.
 

Shankesh Jewellers' reported RoNW is higher than the two listed peers in the supplied comparison. However, investors should not compare companies solely on P/E or RoNW because business models, scale, product mix, growth rates and capital structures can differ substantially.

Competitive Strengths of Shankesh Jewellers

1. Established Jewellery Manufacturing Experience

The company has been operating in the handcrafted jewellery business for several years and has developed expertise in customised jewellery manufacturing.

2. Strong Customer Relationships

Shankesh Jewellers supplies products to established jewellery companies, providing access to a broad institutional customer base.

3. Diversified Jewellery Portfolio

The company manufactures various jewellery categories, including bridal jewellery, bangles, chokers, jhumkas, necklaces, mangalsutras and rings.

4. Asset-Light Manufacturing Model

The company works with skilled karigars and job workers, allowing it to maintain an asset-light manufacturing structure while focusing internally on design, sourcing and customer relationships.

5. Strong Financial Growth

Revenue, EBITDA and PAT have increased significantly over the reported financial periods, while profitability ratios have also improved.

6. IPO Proceeds to Reduce Borrowings

A significant portion of the fresh issue proceeds is proposed to be used for repayment or prepayment of borrowings, potentially strengthening the company's balance sheet.

Risks Investors Should Consider

1. Gold Price Volatility

The jewellery business is exposed to fluctuations in gold prices. Sharp movements in precious-metal prices can influence demand, inventory values and working-capital requirements.

2. Working Capital Requirements

Jewellery manufacturing and trading require significant inventory and working capital. The company plans to use ₹38 crore of IPO proceeds for working capital.

3. Dependence on Jewellery Industry Demand

Changes in consumer demand, discretionary spending, economic conditions and jewellery-buying trends can affect the company's performance.

4. Customer Concentration Risk

The company supplies jewellery to established jewellery brands. Any significant reduction in orders from major customers could affect revenue.

5. Competition

The Indian jewellery industry is highly competitive, with organised jewellery chains, regional players and other manufacturers competing for customers.

6. Dependence on Skilled Artisans

The company's manufacturing model depends significantly on skilled karigars and job workers. Availability and retention of skilled workers can affect production capacity and quality.

Should You Invest in Shankesh Jewellers IPO?

Shankesh Jewellers operates in India's large and established jewellery industry, with a focus on customised handcrafted gold jewellery. Its diversified product portfolio and relationships with established jewellery brands are among its key strengths.

Financially, the company has reported strong growth. FY26 total income stood at ₹1,630.93 crore, while PAT increased to ₹106.68 crore. ROE of 50.94% and ROCE of 41.57% indicate strong reported returns.

The IPO also proposes to use ₹158 crore of fresh issue proceeds for repayment or prepayment of borrowings, which could help improve the company's financial position.

However, investors should consider risks related to gold-price volatility, working-capital requirements, customer concentration, competition and dependence on skilled artisans.

The current GMP of ₹0 indicates no premium or discount based on the available grey-market data as of August 11, 2026. Since GMP is still at an early stage, it should not be considered a reliable indication of the eventual listing performance.

Investors should evaluate the IPO valuation, financial performance, jewellery industry outlook and risk factors before making an investment decision.

Shankesh Jewellers IPO Allotment Status

The tentative basis of allotment date for the Shankesh Jewellers IPO is August 21, 2026.

After the IPO closes, the registrar, KFin Technologies Ltd., will prepare the basis of allotment according to applicable regulatory guidelines.

Investors can check their allotment status using:

• PAN number
• IPO application number
• Demat account or DP Client ID

The tentative refund and demat credit date is August 24, 2026, while the shares are scheduled to list on August 25, 2026.

Summary

The Shankesh Jewellers IPO is a ₹367.18 crore Mainboard Book Build Issue comprising a ₹274.18 crore fresh issue and ₹93 crore Offer for Sale. The IPO price band is fixed at ₹88–₹93 per share, with a lot size of 160 shares and a minimum retail investment of ₹14,880.

The company specialises in customised handcrafted 22K and 18K gold jewellery and supplies products to established jewellery brands across India. Its asset-light manufacturing model relies on skilled karigars and job workers while the company manages design, sourcing and customer relationships.

Financial performance has improved significantly, with FY26 revenue of ₹1,630.93 crore and PAT of ₹106.68 crore. The company also reported strong ROE and ROCE.

A major portion of the fresh issue proceeds will be used to repay or prepay borrowings, while ₹38 crore is proposed to be allocated towards working capital requirements.

As of August 11, 2026, the GMP is ₹0, implying an estimated listing price of ₹93 based on the upper price band. However, GMP is unofficial and can change before the IPO listing.
Investors should consider the company's valuation, financial performance, gold-price volatility, working-capital requirements, customer concentration and broader jewellery industry risks before investing.

Frequently Asked Questions (FAQs)

What is the Shankesh Jewellers IPO?

Shankesh Jewellers IPO is a Mainboard Book Build Issue of ₹367.18 crore, consisting of a ₹274.18 crore fresh issue and a ₹93 crore Offer for Sale.

What are the Shankesh Jewellers IPO dates?

The Shankesh Jewellers IPO will open on August 18, 2026, and close on August 20, 2026.

What is the Shankesh Jewellers IPO price band?

The IPO price band has been fixed at ₹88 to ₹93 per share.

What is the lot size of Shankesh Jewellers IPO?

The minimum application consists of 160 shares. At the upper price band of ₹93, the minimum investment is ₹14,880.

What is the Shankesh Jewellers IPO GMP today?

As of August 11, 2026, the Shankesh Jewellers IPO GMP is ₹0 based on the supplied grey-market data.

What is the estimated listing price of Shankesh Jewellers IPO?

Based on a GMP of ₹0 and the upper price band of ₹93, the estimated listing price is approximately ₹93 per share.

When will Shankesh Jewellers IPO allotment take place?

The tentative basis of allotment date is August 21, 2026.

When will Shankesh Jewellers IPO shares be listed?

The shares are expected to list on August 25, 2026, on the NSE and BSE.

What is the minimum investment for Shankesh Jewellers IPO?

Retail investors need to apply for at least 160 shares. At ₹93 per share, the minimum investment is ₹14,880.

What is the issue size of Shankesh Jewellers IPO?

The total issue size is ₹367.18 crore, consisting of a ₹274.18 crore fresh issue and ₹93 crore OFS.

Who is the registrar of Shankesh Jewellers IPO?

KFin Technologies Ltd. is the registrar to the Shankesh Jewellers IPO.

Who are the lead managers of Shankesh Jewellers IPO?

The book-running lead managers are Aryaman Financial Services Ltd. and Smart Horizon Capital Advisors Pvt. Ltd.

What does Shankesh Jewellers manufacture?

Shankesh Jewellers manufactures customised handcrafted gold jewellery, including bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings and other jewellery products.

Is Shankesh Jewellers IPO a fresh issue or OFS?

The IPO contains both components: a ₹274.18 crore fresh issue and a ₹93 crore Offer for Sale.

How will Shankesh Jewellers use the IPO proceeds?

The company plans to use a significant portion of the fresh issue proceeds for repayment or prepayment of borrowings, along with funding working capital and general corporate purposes.

Sources

• Shankesh Jewellers DRHP/RHP
• NSE & BSE IPO Filings
• KFin Technologies Ltd.
• InvestKraft

Disclaimer

This article is intended for informational and educational purposes only and should not be considered financial or investment advice. IPO details, Grey Market Premium (GMP), subscription figures, allotment dates and listing timelines are subject to change. Investors should carefully read the company's DRHP/RHP and verify the latest information from official sources before making any investment decision. Investments in the stock market are subject to market risks.

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.

She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.

Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.