Shankesh Jewellers IPO allotment is expected to be finalized today, August 21, 2026, giving investors clarity on whether they have been allotted shares in the ₹367.18 crore public issue. As per The Economic Times, investors can check their allotment status online through the IPO registrar's website, as well as the BSE and NSE portals. Shares allotted to successful applicants are expected to be credited to their demat accounts ahead of the listing. Refunds for non-allottees will begin on August 24, 2026, while Shankesh Jewellers is scheduled to debut on both the BSE and NSE on August 25, 2026 at 10 AM. The IPO was open for subscription from August 18 to August 20 and received a steady response, with the issue subscribed 2.80 times overall.
The IPO's grey market premium (GMP) has strengthened to 5.38% as of 8:00 AM on August 21, 2026, indicating a potential listing gain of around ₹5.38 per share over the upper price band of ₹93 per share. The offer received bids for 7.74 crore shares as against 2.76 crore shares on offer, with the issue subscribed 2.80 times overall. The retail portion was subscribed 2.42 times, while the qualified institutional buyers (QIBs) category saw 1.32 times subscription. The non-institutional investors (NIIs) segment was subscribed 5.68 times. Latest grey market premium data shows a 2.69% premium over the upper price band, indicating a potential listing gain of around ₹2.69 per share over the upper price band of ₹93 per share. The minimum lot size of 160 shares translates to a minimum investment of around ₹14,880 at the upper price band of ₹93 per share. The estimated listing price works out to around ₹98 per share, suggesting a modest listing gain of approximately 5.38%.
The ₹367.18 crore IPO comprised a fresh issue of ₹274.18 crore and an offer for sale (OFS) of ₹93 crore. According to The Economic Times, the issue carried a price band of ₹88–₹93 per share. Up to 50% of the issue size has been reserved for QIBs, up to 35% for retail investors and up to 15% for non-institutional investors. Bids can be made for a minimum of 160 equity shares of face value ₹5 each and in multiples of 160 shares thereafter. Aryaman Financial Services Ltd. serves as the book-running lead manager, while Kfin Technologies Ltd. acts as the registrar for the issue. Proceeds from the fresh issue will be used for repayment or pre-payment of borrowings, funding working capital requirements and general corporate purposes. The objectives of the fresh issue include ₹158 crore for repayment/prepayment of certain borrowings, ₹38 crore for funding working capital requirements, and the remaining amount for general corporate purposes.
As reported by The Economic Times, Shankesh Jewellers follows an asset-light business model by engaging skilled local karigars and job workers for production, while managing design, material sourcing and delivery in-house. The company distributes its products across India to both corporate and non-corporate clients, with corporate clients contributing 64.25% of revenue in FY26 and its top five customers accounting for 23.26%, indicating some customer concentration. The company served 418 customers in FY26, including 334 repeat customers, supporting its established relationships that drive repeat orders. The company undertakes outsourcing of handcrafted gold jewellery and provides job-work services under which clients provide bullion and specific design requirements for manufacturing. The company acts as a principal contractor across design and inventory management, ensuring seamless and high-quality service delivery directly to clients. Incorporated in 2005, the company's product portfolio includes 22-karat and 18-karat gold items such as bangles, bridal sets, chokers, jhumkas, and mangalsutras, with its portfolio comprising more than 30 product categories. The company reported a consolidated net profit of ₹106.68 crore and sales of ₹1,630.79 crore for the twelve months ended March 31, 2026. Profitability witnessed a significantly sharper improvement, with Profit After Tax (PAT) surging 165% from ₹40.31 crore in FY25 to ₹106.68 crore in FY26.
Ahead of the IPO, Shankesh Jewellers raised ₹110.15 crore from anchor investors on August 17, 2026. As per Business Standard, the board allotted 1.18 crore shares at ₹93 each to 14 anchor investors. The promoters are Kantilal Kheemraj Jain, Mahavir Kantilal Jain and Manoj Kantilal Jain, who hold an aggregate of 11,22,32,400 equity shares, aggregating to 95.48% of the pre-offer issued and paid-up equity share capital. Their post-IPO shareholding is expected to be around 69.53%. The promoters and promoter group hold an aggregate of 11,22,32,400 equity shares, aggregating to 95.48% of the pre-offer issued and paid-up equity share capital. Their post-IPO shareholding is expected to be around 69.53%.
