Shankesh Jewellers IPO GMP, Date, Price Band & Review

Shankesh Jewellers IPO Details

The Shankesh Jewellers IPO is a 100% book-built issue of ₹367 crore, comprising a fresh issue of ₹274.18 crore and an offer for sale (OFS) of ₹93 crore, with a face value of ₹5 per share. The company filed its DRHP with SEBI on September 30, 2025 and received approval on February 6, 2026.

The price band of the issue is set between ₹88 to ₹93 per share and the lot size for an application is 160 shares. The minimum amount of investment required by an individual investor is ₹14,880 (160 shares). The IPO will open for subscription from August 18 to 20, 2026, on the BSE and the NSE platforms, with a tentative listing date fixed as August 25, 2026. The book-running lead managers of the issue are Aryaman Financial Services Limited and Smart Horizon Capital Advisors Private Limited, while the registrar to the issue is KFIN Technologies Limited.

Shankesh Jewellers IPO Date & Timeline

The Shankesh Jewellers IPO is officially set to open for subscription on Aug 18, 2026 and will close on Aug 20, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on September 30, 2025 and has now finalized its schedule following SEBI approval. Once the subscription window closes, allotment is expected on Aug 21, 2026. Following this, the firm will initiate refunds and credit shares to successful investors' demat accounts on Aug 24, 2026. Finally, shares of Shankesh Jewellers Ltd. are tentatively scheduled to list on the stock exchanges on Aug 25, 2026

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 ₹2.75, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹95.75, which is 2.96% 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 a private limited company, named H. K. Gold Private Ltd., in July 2005, headquartered at Zaveri Bazar, Mumbai. Then, in August 2006, the company changed its name to Shankesh Jewellers Private Ltd.

The main business of Shankesh Jewellers involves manufacturing handcrafted gold jewellery and providing customised jewellery services to its clients, as the company is dependent on 3rd-party workers for the production and manufacturing of the products. It offers a diverse range of handcrafted gold jewellery in 22-karat and 18-karat, with a legacy of over 3 decades in the niche.

Shankesh Jewellers has maintained their legacy of handmade jewellery, as the company was incorporated in 2005 under another name, but Mr. Kantilal Kheemraj Jain started dealing since 1992. Then, on April 23, 2025, the company converted into a public limited company with a fresh certificate of incorporation mainly to proceed with its public listing procedures.

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. In India, 80% market dominance comes from gold, and the remaining 20% is divided between diamond (10%), silver (5%) and others (5%). With a major focus on domestic markets within India, the company managed to expand its customer network to 21 states and 3 union territories.

Facilities & Capacity

Shankesh Jewellers Ltd. employs an "asset-light" manufacturing model, utilising a network of skilled local artisans (karigars) and job workers for handcrafted jewellery production. This approach allows the company to concentrate on design innovation, material sourcing and quality control, while specialised 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 and has established its market presence, which is mainly domestic, with a broad distribution reach spanning 21 states and 3 union territories across India. Consistently delivering specialised 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 two major revenue streams that include the sale of finished handcrafted 22-karat & 18-karat gold jewellery to corporate as well as non-corporate clients. The other source is custom services for job work, wherein the clients bring the bullion of their choice and the company fulfils their requirements for design and manufacturing. The company has established its presence across multiple states in India; however, Maharashtra has shown the highest operational sales, 25.46% of total revenue from operations in FY26.

Financial Performance

Shankesh Jewellers Ltd. has shown strong and consistent financial growth across recent fiscal periods, as total income increased from ₹1,403.94 crore in FY25 to ₹1,630.93 crore in FY26. Also, profit after tax (PAT) surged from ₹40.31 crore in FY25 to ₹106.68 crore in FY26, with a profit margin of 6.54%. Overall, the company has increased its revenue by 16% and its PAT by 165.39% between the financial years 2025 and 2026.

Management & Shareholding

The promoters of Shankesh Jewellers Ltd. are Kantilal Kheemraj Jain, Mahavir Kantilal Jain and Manoj Kantilal Jain. The promoters hold a 95.48% stake in the company, but after the IPO, the promoter shareholding will be diluted to 69.53% as the offering includes a fresh issue of shares for the public.

Board & Key Management

The leadership of Shankesh Jewellers Ltd. is led by a team of experts with many years of experience. Kantilal Kheemraj Jain serves as the Chairman and gives strategic direction to the firm. The daily operations are managed by Manoj Kantilal Jain, the Managing Director, along with Whole-Time Director Mahavir Kantilal Jain. To ensure good governance, the board includes Independent Directors Nikhil Ramesh Parmar, Sanjay Babulal Jain and Sunita Amit Modak for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.