Shankesh Jewellers IPO: 0.36x Subscription on Day 1

Shankesh Jewellers’ Initial Public Offer (IPO) saw a 0.36 times subscription on its opening day, August 18, 2026. The company received bids for 98.74 lakh shares against 2.76 crore shares available.

Key IPO Figures

• Subscription on opening day: 0.36 times
• Bids received: 98.74 lakh shares
• Shares on offer: 2.76 crore shares
• IPO opening date: August 18, 2026
• IPO closing date: August 20, 2026
• Price band: Rs 88 to Rs 93 per share
• Minimum bid: 160 equity shares

The IPO includes a fresh issue of equity shares worth up to Rs 274.18 crore. Additionally, there is an offer for sale of 1 crore equity shares, totaling up to Rs 93 crore, by Kantilal Kheemraj Jain and Manoj Kantilal Jain.

Proceeds from the fresh issue are designated for specific purposes. This includes the repayment or prepayment of certain borrowings, amounting to Rs 158 crore, and funding working capital requirements, which totals Rs 38 crore.

Company Structure and Holdings

The promoters of Shankesh Jewellers are Kantilal Kheemraj Jain, Mahavir Kantilal Jain, and Manoj Kantilal Jain. The promoter and promoter group held 95.48% of the pre-offer equity share capital.

This collective holding is projected to decrease to approximately 69.53% following the IPO. The company specializes in hand-crafted gold jewelry, operating with an asset-light model by outsourcing production.

Financial Performance and Strategy

On August 17, 2026, Shankesh Jewellers successfully raised Rs 110.15 crore from 14 anchor investors. This was achieved by allotting 1.18 crore shares at Rs 93 each.

For the twelve months ending March 31, 2026, the firm reported a consolidated net profit of Rs 106.68 crore. Sales for the same period stood at Rs 1,630.79 crore.

Corporate clients were a significant revenue driver in FY26, contributing 64.25% of the company’s total revenue. The top five customers accounted for 23.26% of that revenue.