SHANKESH JEWELLERS LTD IPO: Company Review, Subscription and Allotment Updates
2026-08-18 — Company overview and issue details SHANKESH JEWELLERS LTD IPO (ABOUT THE COMPANY) SHANKESH JEWELLERS LTD – COMPANY BACKGROUND Shankesh Jewellers Ltd was incorporated in 2005 and is into the business of manufacturing…
2026-08-18 — Company overview and issue details
SHANKESH JEWELLERS LTD IPO (ABOUT THE COMPANY)
SHANKESH JEWELLERS LTD – COMPANY BACKGROUND
Shankesh Jewellers Ltd was incorporated in 2005 and is into the business of manufacturing hand-crafted gold jewellery. It specializes in 18-Karat and 22-Karat gold jewellery. Its product portfolio includes bangles, bridal jewellery, chokers, jhumkas, necklace sets, Mangalsutras, and rings. It distributes its products across India and caters to corporate and individual clients. It supplies to reputed jewellery houses like Joyalukkas, PN Gadgil, Kalyan Jewellers, Novel Jewels, and Manoj Vaibhav Gems. It also offers job-work to other jewellers.
The promoters of Shankesh Jewellers Ltd are Kantilal Jain, Mahavir Kantilal Jain, and Manoj Kantilal Jain. The IPO will be a combination of a fresh issue of shares and an offer for sale (OFS) component. The fresh issue funds will be used for repayment of borrowings, funding working capital, and for general corporate purposes. The OFS is being done entirely by the promoter shareholders. The issue is being lead-managed by Aryaman Financial Services Ltd and Smart Horizon Capital Advisors Private Ltd; while KFIN Technologies Ltd (KFINTECH) is the registrar to the IPO.
HIGHLIGHTS OF THE IPO ISSUE OF SHANKESH JEWELLERS LTD
Here are the key highlights of the public issue of Shankesh Jewellers Ltd.
The IPO is open from August 18th, 2026 to August 20th, 2026. It has a face value of ₹5 per share and the IPO price band has been fixed in the range of ₹88 to ₹93 per share.
The IPO of Shankesh Jewellers Ltd will be a combination of a fresh issue of shares and an offer for sale of shares by the investor shareholders.
The Fresh Issue portion of the IPO comprises the issue of 2,94,82,000 shares (294.82 lakh shares), which at the upper price band of ₹93 per share, translates into a fresh issue size of ₹274.18 crore.
The offer for sale (OFS) portion of the IPO comprises the sale of 1,00,00,000 shares (100.00 lakh shares), which at the upper price band of ₹93 per share, translates into an OFS size of ₹93.00 crore.
Therefore, the overall IPO will comprise of the fresh issue portion and offer for sale (OFS) portion comprising of 3,94,82,000 shares (394.82 lakh shares), which at the upper price band of ₹93 per share translates into overall issue size of ₹367.18 crore.
Due to dilutive impact of the fresh issue and the offer for sale (OFS) by promoters, the promoter stake in the company will reduce from 95.48% pre-IPO to 69.53% post-IPO.
The IPO of Shankesh Jewellers Ltd will be listed on the NSE and the BSE on the IPO mainboard. The anchor allocation happened on August 17, 2026.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of Shankesh Jewellers Ltd
| Event | Tentative Date |
|---|---|
| IPO Open Date | Tuesday, 18 August, 2026 |
| IPO Close Date | Thursday, 20 August, 2026 |
| Basis of Allotment | Friday, 21 August, 2026 |
| Initiation of Refunds to non-allottees | Monday, 24 August, 2026 |
| Credit of Shares to Demat | Monday, 24 August, 2026 |
| Listing Date on NSE and BSE | Tuesday, 25 August, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | Nil Shares | Not Applicable |
| Anchor Allocation | 1,18,44,600 shares | 30.00% of total IPO size |
| QIB Shares Offered | 78,96,400 shares | 20.00% of total IPO size |
| NII (HNI) Shares Offered | 59,22,300 shares | 15.00% of total IPO size |
| Retail Shares Offered | 1,38,18,700 shares | 35.00% of total IPO size |
| Total Shares Offered | 3,94,82,000 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.
Here is a quick look at the lot sizes applicable for the IPO of Shankesh Jewellers Ltd for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 160 | ₹ 14,880 |
| Retail (Max) | 13 | 2,080 | ₹ 1,93,440 |
| S-HNI (Min) | 14 | 2,240 | ₹ 2,08,320 |
| S-HNI (Max) | 67 | 10,720 | ₹ 9,96,960 |
| B-HNI (Min) | 68 | 10,880 | ₹ 10,11,840 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 160 shares)
FINANCIAL HIGHLIGHTS OF SHANKESH JEWELLERS LTD
The table captures the key financials of Shankesh Jewellers Ltd for last 3 financial years.
| Particulars | FY26 | FY25 | FY24 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 1,630.79 | 1,403.83 | 1,061.78 |
| Sales Growth (%) | 16.17% | 32.21% | |
| Profit after Tax (₹ in crore) | 106.68 | 40.31 | 12.82 |
| PAT Margins (%) | 6.54% | 2.87% | 1.21% |
| Total Equity (₹ in crore) | 209.43 | 100.60 | 60.29 |
| Total Assets (₹ in crore) | 403.76 | 249.56 | 177.07 |
| Return on Equity (%) | 50.94% | 40.07% | 21.26% |
| Return on Assets (%) | 26.42% | 16.15% | 7.24% |
| Asset Turnover Ratio (X) | 4.04 | 5.63 | 6.00 |
| Earnings per share (₹) | 9.09 | 3.44 | 1.09 |
| EBITDA (₹ in Crore) | 157.90 | 65.35 | 28.60 |
| EBITDA Margins (%) | 9.68% | 4.65% | 2.69% |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
The jewellery business is, by default, a low PAT margin business which is evident from the net margins of around 6.5%, after a spike. In a best-case scenario, this sector sees net margins of 5% on sustainable basis. Due to the high cost of retailing, operating margins also come under pressure, which is evident from EBITDA margins under 10%. ROE is impressive.
VALUATION METRICS OF SHANKESH JEWELLERS LTD IPO
At the IPO price of ₹93 (upper band), the stock gets discounted at a P/E ratio of 10.2X, based on the latest FY26 EPS of ₹9.09. The jewellery business has seen a clear dichotomy in valuations. National players like Titan, Kalyan, and Thangamayil get much higher valuations than regional players. If you compare with regional players, the valuation of Shankesh Jewellers Ltd appears to be almost at par.
The company does bring some advantages to the table. It follows an asset light model, which should help boost profits. However, the dichotomy valuations between the national players and the regional players is likely to sustain. Investors in the IPO should appreciate that as a regional player, valuations are at par and there may not be much left on the table. Long term investors can look at the IPO as a bet on growing consumerism.
2026-08-20 — Day-3 subscription update
Shankesh Jewellers Ltd (Day-3 Final Subscription at 2.80 times)
SHANKESH JEWELLERS LTD - IPO SUBSCRIPTION STATUS ON DAY-3
As of 7.20 pm on 20th August 2026, out of the 276.37 lakh shares on offer in the IPO (excluding anchor portion), Shankesh Jewellers Ltd saw bids for 774.38 lakh shares. This implies an overall subscription of 2.80X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of Shankesh Jewellers Ltd was as under:
| Employees (N.A.) | QIBs (1.32X) | HNI / NII (5.68X) | Retail (2.42X) |
|---|
The subscriptions were led by the HNI / NII Investors followed by the Retail investors and the QIB investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. That was the case in this IPO too. However, the flows picked up more in the HNI / NII space, while the QIB response remained tepid. The company saw steady anchor participation a day ahead of the IPO opening with 30.00% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 1,18,44,600 | 1,18,44,600 | 110.15 |
| Employee Quota | N.A. | 0 | 0 | 0.00 |
| QIB Investors | 1.32 | 78,96,400 | 1,03,92,160 | 96.65 |
| HNIs / NIIs | 5.68 | 59,22,300 | 3,36,16,960 | 312.64 |
| Retail Investors | 2.42 | 1,38,18,700 | 3,34,29,280 | 310.89 |
| Total | 2.80 | 2,76,37,400 | 7,74,38,400 | 720.18 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO of Shankesh Jewellers Ltd was open up to August 20, 2026, and has closed for subscription as of the close of trading hours on August 20, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹830.33 crore.
NEXT STEPS IN THE SHANKESH JEWELLERS LTD IPO
Post the closure of the IPO subscription on 20th August 2026, the basis of allotment will be finalized on 21st August 2026 and the refunds will be initiated on 24th August 2026. In addition, the demat credits are expected to also happen on 24th August 2026 and the stock will list on 25th August 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 24th August 2026 under ISIN (INE1WFC01025).
2026-08-20 — Allotment guidance and next steps
Shankesh Jewellers Ltd (How to check allotment status online)
ABOUT THE SHANKESH JEWELLERS LTD IPO
The IPO of Shankesh Jewellers Ltd opened on August 18th, 2026 and closed on August 20th, 2026. The IPO comprised of a fresh issue and an offer for sale (OFS) of 3,94,82,000 shares (394.82 lakh shares) worth ₹367.18 crore at the upper band price of ₹93 per share. The allotment status will be finalized by EOD of August 21, 2026. Here is how to check allotment status for the IPO of Shankesh Jewellers Ltd. You can check IPO status on BSE or NSE or IPO Registrar website of KFIN Technologies Ltd (KFINTECH).
CHECKING ALLOTMENT STATUS OF SHANKESH JEWELLERS LTD ON BSE WEBSITE
This is a common link for all mainboard IPOs. Click on BSE link for IPO allotment as below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity Option
Under Issue Name – Select Shankesh Jewellers Ltd from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Alternatively, Enter your PAN (10-digit alphanumeric) number
Once this is done, you need to click on the Captcha to verify you are not a robot
Finally click on the Search Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Shankesh Jewellers Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF SHANKESH JEWELLERS LTD ON NSE WEBSITE
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity & SME IPO Details Option
Under SELECT SYMBOL – Select SHANKESH from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Enter your PAN (10-digit alphanumeric) number
Once both are entered, click on the Submit Button
You must input the Application / CAF number and the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Shankesh Jewellers Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF SHANKESH JEWELLERS LTD ON KFIN TECHNOLOGIES LTD (REGISTRAR TO THE IPO)
Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:
https://kosmic.kfintech.com/ipostatus/
KFIN Technologies Ltd provides details of IPOs managed by them and where allotment status is finalized. Radio buttons allow you to opt to see all IPOs or just recent IPOs. The latter option reduces the list of IPOs to search. Once you click on Recent IPOs, dropdown shows recent active IPOs, where allotment status is finalized. Select Shankesh Jewellers Ltd.
THERE ARE 3 WAYS TO QUERY ALLOTMENT STATUS ON KFIN TECHNOLOGIES LTD
To Query by Application Number, check the appropriate box and follow these steps.
Enter the Application Number as it is
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
Unlike in the past, now you do not have to select ASBA versus Non-ASBA option.
To Query by Demat Account, check the appropriate box and follow these steps.
First select the depository (NSDL / CDSL)
Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)
Enter the Client-ID in the second box
For NSDL, the Demat account is 2 strings; for CDSL it is just 1 string
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
To Query by PAN, check the appropriate box and follow these steps.
Enter the 10-Character PAN number, available on your PAN card
After you enter the PAN number, Enter the 6-digit numeric Captcha Code
Click on Submit button
Allotment status gets displayed on screen
If captcha code is not clear; toggle for more options. Retain a screenshot of the allotment status output for future reference. This can be tallied with demat credit post allotment.
NEXT STEPS IN THE SHANKESH JEWELLERS LTD IPO
Post the closure of the IPO subscription on 20th August 2026, the basis of allotment will be finalized on 21st August 2026 and the refunds will be initiated on 24th August 2026. In addition, the demat credits are expected to also happen on 24th August 2026 and the stock will list on 25th August 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 24th August 2026 under ISIN (INE1WFC01025).
Interested in applying for this IPO?
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