About Shankesh Jewellers IPO
Shankesh Jewellers IPO Details
The Shankesh Jewellers IPO is a 100% book-built offer of 4 crore equity shares, including a fresh issue of 3 crore equity shares and an offer for sale (OFS) of 1 crore equity shares, with a face value of ₹5 per share.
The price band and official dates of subscription and listing will be announced by the company later, but the shares are supposed to be listed on the BSE and the NSE platforms. The book-running lead managers (BRLMs) for the issue are Aryaman Financial Services Ltd. and Smart Horizon Capital Advisors, while KFIN Technologies is the registrar to the issue.
Shankesh Jewellers IPO Date & Timeline
The initial step in the public offering is the DRHP, as it includes information like the announcement of the price band and the issue opening and closing dates. Because the exact Shankesh Jewellers IPO date is not available yet, interested investors will need to wait for further regulatory announcements, such as price band and official dates, which will strictly follow the timetable outlined in the upcoming RHP. The Shankesh Jewellers IPO date will be updated across financial portals once formally declared.
Shankesh Jewellers IPO Timeline
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | - |
Shankesh Jewellers IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹ 5 per Equity Share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Issue and Offer for Sale (OFS) |
| Total Issue Size | Up to 4,00,00,000 Equity Shares |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | Up to 3,00,00,000 Equity Shares |
| Offer for Sale | Up to 1,00,00,000 Equity Shares |
| Net Offered to Public | - |
| Issue Type | 100 % Book Built Offer |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 11,75,49,420 Equity Shares |
| Share Holding Post Issue | 14,75,49,420 shares |
Shankesh Jewellers IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The Shankesh Jewellers IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
Company Background
Shankesh Jewellers Ltd. was incorporated as H. K. Gold Private Ltd. in July 2005. However, the business underwent a series of evolutions, leading to a change of company name to Shankesh Jewellers Private Ltd. in August 2006. The company, in a move to prepare for its public debut, transformed into a public limited company in April 2025.
The main business of the company involves the manufacture of handcrafted gold jewelry, as well as the provision of customized jewelry services. The company, which is headquartered at Mumbadevi Diamond Premises, Zaveri Bazar, Mumbai, has expanded its footprint to cover sales networks in 21 states and 3 union territories.
Operations & Product Range
Shankesh Jewellers Ltd. specializes in B2B manufacturing and supply of handcrafted gold jewellery, focusing on 22-karat and 18-karat products. The products offered by them are bangles, bridal sets, chokers, jhumkas, necklaces, mangalsutras and rings, among others. The target customers of this company are major corporate retail jewellery chains, along with other non-corporate customers, where the entire process is handled by them.
Facilities & Capacity
Shankesh Jewellers Ltd. employs an "asset-light" manufacturing model, utilizing a network of skilled local artisans (karigars) and job workers for handcrafted jewelry production. This approach allows the company to concentrate on design innovation, material sourcing and quality control, while specialized artisans handle the crafting. Consequently, traditional manufacturing capacity metrics are supplanted by the scalable capabilities of the artisan network.
Brands & Market Presence
Shankesh Jewellers Ltd. operates in the B2B segment; its presence is defined by strong associations with established retail brands rather than a standalone consumer-facing brand. It acts as a crucial supplier and manufacturing partner for several reputed corporate clients, including major names like Joyalukkas India Ltd., Kalyan Jewellers India Ltd. and P. N. Gadgil & Sons. The company's market presence is mainly domestic, with a broad distribution reach spanning 21 states and 3 union territories across India. Consistently delivering specialized handcrafted designs has increased its credibility within the domestic jewellery sector.
Revenue Streams & Business Model
The primary source of revenue for Shankesh Jewellers Ltd. is the two major revenue streams that include the sale of finished handcrafted 22 K. & 18 K. gold jewelry to corporate as well as non-corporate clients. The other source is the custom services for job work, wherein the clients bring the bullion of their choice and the company fulfills their requirements for design and manufacturing. The presence of the company across the entire PAN India territory ensures that the revenue is well distributed.
Management & Shareholding
Shankesh Jewellers Ltd. is is headed by its promoters, Kantilal Kheemraj Jain, Mahavir Kantilal Jain and Manoj Kantilal Jain, who are the primary leaders for the business. The promoters, along with the promoter group, hold a majority of the ownership before the IPO, but after the IPO, the promoters' ownership will be diluted, though the majority of the stakes are still with the existing promoter group.
Board & Key Management
The board & key management at Shankesh Jewellers Ltd. are headed by experienced promoters with decades of expertise in the Indian jewellery sector. Key board members include Manoj Kantilal Jain (Managing Director), Mahavir Kantilal Jain (Executive Director) and Kantilal Kheemraj Jain. Chandrashekar Koraga Shetty (CFO) and CS Shweta Dattatray Ravankar support the board, ensuring strong strategic and financial governance.
Shankesh Jewellers IPO Financial Information
Latest Revenue
1,403.94
₹ Crore
Profit After Tax
40.31
₹ Crore
Net Worth
100.60
₹ Crore
Total Borrowing
145.63
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 249.56 | 1,403.94 | 40.31 | 100.60 | 90.83 | 145.63 | |||
| 31 Mar 2024 | 177.07 | 1,061.91 | 12.82 | 60.29 | 57.50 | 109.81 | |||
| 31 Mar 2023 | 174.34 | 909.20 | 10.44 | 47.52 | 44.73 | 98.39 | |||
| Amount in ₹ Crore | |||||||||
Shankesh Jewellers Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 40.07% |
| ROCE | 26.33% |
| Debt/Equity | 1.45x |
| RoNW | 40.07% |
| PAT Margin | 2.87% |
| EBITDA Margin | 4.66% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.43 | [.] |
| P/E (x) | [.] | [.] |
Shankesh Jewellers IPO Objectives
The company proposes to utilize the net proceeds from the fresh issue for the following purposes:
- • Repayment of debt (in part or in full)
- • Funding the working capital requirement
- • General corporate purposes
Shankesh Jewellers IPO Review
The Shankesh Jewellers IPO highlights a business deeply embedded in India's organized retail supply chain. Operating an asset-light model with a vast artisan network, the firm mitigates consumer acquisition costs while maintaining a broad product portfolio.
The company has a strong financial position with a high revenue of ₹1,403.83 crore in FY25 with a high ROE of 40.07%. The funds raised from the IPO will be utilized to repay debt of ₹158 crore and to meet the company's working capital requirements of ₹38 crore. However, investors should be aware of the various risks involved in the B2B sector.
Conclusion
The Shankesh Jewellers IPO provides an opportunity for investors to invest in a growing company that offers an entry point to the backend manufacturing segment of the Indian gold market. The company’s core strengths are its asset-light model, large artisan network, and B2B relationships. The reduction of debt and addition of working capital are positive indications of the company’s focus on execution.
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Competitive Strengths
Asset-light bespoke gold jewellery manufacturing with strong artisanal craftsmanship network
Strong & built PAN-India sales network, penetrating markets in 21 states and 3 union territories.0000000000000
Established supplier to major jewellery retail brands with expanding client base.
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | SEBI/Exchange approval received | 06/02/2026 | - |
| 2 | Filed with SEBI/Exchange | 29/09/2025 | View DRHP |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 0 | 1400015000 |
| Individual investors (Retail) (Max) | 0 | 0 | 200000 |
| S-HNI (Min) | 0 | 0 | 200000 |
| S-HNI (Max) | 0 | 0 | 1000000 |
| B-HNI (Min) | 0 | 0 | 1000000 |