Shankesh Jewellers IPO Lists at 11% Premium on NSE

Shankesh Jewellers shares debuted on the National Stock Exchange (NSE) at ₹103.30, marking an 11.08% premium over its ₹93 IPO issue price. On the BSE, the stock opened at ₹102.20, reflecting a 9.89% increase.

Investors who secured one lot of 160 shares, initially costing ₹14,880, saw a profit of ₹1,648 per lot. This boosted their investment value to ₹16,528 based on the NSE listing price.

IPO Financials Breakdown

• IPO Issue Price: ₹93 per share
• NSE Listing Price: ₹103.30 (11.08% premium)
• BSE Listing Price: ₹102.20 (9.89% premium)
• Total IPO Value: ₹367.18 crore
• Fresh Issue Component: ₹274.18 crore (up to 2.95 crore equity shares)
• Offer for Sale (OFS) Component: ₹93 crore (up to 1 crore equity shares)

The capital from the fresh issue is earmarked for debt repayment, funding working capital, and general corporate purposes. Shankesh Jewellers stated its intention to strengthen its capital base and enhance brand visibility through the listing.

Subscription Performance

The initial share sale was subscribed 2.80 times overall. Non-institutional investors (NIIs) showed strong interest, bidding 5.68 times their reserved equity shares.

• Non-Institutional Investors (NIIs): 5.68 times subscribed
• Retail Individual Investors: 2.42 times subscribed
• Qualified Institutional Buyers (QIBs): 1.32 times subscribed

Established in 2005, Shankesh Jewellers specializes in customized handcrafted gold jewellery, offering 18-karat and 22-karat items. Their product range includes bridal jewellery, chokers, and various sets.

The company serves notable clients such as Joyalukkas India, PN Gadgil & Sons, Kalyan Jewellers India, and Novel Jewels (Aditya Birla Group).