Shankesh Jewellers listing: Shares list at a premium of 11.08% (₹103.30) on NSE and at 9.89% (₹102.20) on BSE
Shankesh Jewellers listing: Shares list at a premium of 11.08% (₹103.30) on NSE and at 9.89% (₹102.20) on BSE
Key takeaways
- Shankesh Jewellers Limited shares debuted at ₹103.30 on the NSE and at ₹102.20 on the BSE, respectively, at a premium of 11.08% and 9.89%.
- The public issue of ₹367.18 crore saw a subscription of 2.80 times, with robust participation from all investor groups.
- The company boasts a strong product portfolio, specialising in 22k and 18k handcrafted gold jewellery, including antique, Calcutta, and temple designs.
- The company has shown impressive financial performance in the pre-IPO period, with a total income of ₹1,630.93 crore and a profit after tax (PAT) of ₹106.68 crore in FY26.
Today, Shankesh Jewellers Limited, a leading manufacturer and supplier of custom-made handcrafted gold jewellery, made its debut on the Indian capital markets. The company went public by listing its equity shares on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
The initial public offering (IPO) of ₹367.18 crore was a mix of a fresh issue of ₹274.18 crore and an offer for sale (OFS) of ₹93.00 crore. The proceeds are intended to repay debt and finance working capital needs.
The shares listed at a modest premium of 11.08% on NSE and 9.89% on BSE, against the upper price band of ₹93 per share. In this blog, we will delve into the Shankesh Jewellers IPO listing performance and its fundamentals.
Shankesh Jewellers Limited listing performance
Shankesh Jewellers' shares were officially listed on the Indian stock exchanges on August 25, 2026. The shares are listed at ₹103.30, a modest premium of 11.08%, on the NSE and at ₹102.20, a premium of 9.89, on the BSE. The shares of Shankesh Jewellers listed well above its grey market premium (GMP) of ₹2.75 before the listing day.
The company offered the IPO at a fair valuation, has a strong local market presence, and a strong B2B customised job work model, which attracted investors to the Shankesh Jewellers Limited IPO and led to a positive but subdued listing.
About Shankesh Jewellers
The company specialises in 22k and 18k gold jewellery and offers a wide range of products, including bangles, bridal jewellery, chokers, jhumkas, necklaces, and mangalsutras.
It offers a wide range of collections in antique, semi-antique, Calcutta, temple, rhodium and rose gold finishes. The company operates across two segments: direct sales of handcrafted jewellery and custom job work services (executing designs on client-supplied bullion). This combination helps them to sustain their existing business relationships with corporate and non-corporate jewellery clients.
Financially, the company reported robust numbers in its FY26 results. It posted total income of ₹1,630.93 crore, an increase of 16% from ₹1,403.94 crore in FY25 and profit after tax (PAT) of ₹106.68 crore for the quarter ended March 31, 2026, with a healthy ROE (Return on Equity) of 50.94%.
Shankesh Jewellers IPO journey
The Shankesh Jewellers IPO subscription window was opened on August 18, 2026 and closed on August 20, 2026. The company had offered shares at a price of ₹88 to ₹93 per equity share with a minimum retail lot size of 160 shares. This IPO was a combination of a fresh issue of ₹274.18 crore and an OFS of ₹93.00 crore by the existing promoters.
The proceeds from the fresh issue will be primarily used to repay ₹158 crore in borrowings and fund ₹38 crore in working capital requirements. The overall subscription for the IPO was 2.80 times. The Non-Institutional Investors (NIIs) category oversubscribed its quota by 5.68 times, while the retail segment oversubscribed by 2.42 times.
By the end of the last bidding day, qualified institutional buyers (QIBs) had subscribed 1.32 times their quota. The company has also raised ₹110.15 crore by allotting 1.18 crore shares to anchor investors on August 17, reflecting steady institutional interest in the company's fundamentals.
Wrap up
The successful listing of Shankesh Jewellers Limited above its GMP highlights investor interest in India's organised jewellery and gold manufacturing sector. The 11% listing premium indicates a modest but positive start for Shankesh Jewellers Limited. It continues to be an attractive investment choice for investors in the long run due to its revenue scale, high ROE, and diversified portfolio of products.
As the company takes its first steps as a publicly listed company, its ability to withstand gold price volatility, maintain its high ROE margins and grow its B2B business will be the key drivers of its future growth.
