Shankesh Jewellers IPO
Diamond, Gems and Jewellery • ₹367.18 Cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- The company has a high dependence on its top five suppliers, which accounted for Rs 1,327.…
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹93
Lot Size
160 shares
Issue Size
₹367.18 Cr
Open
18 Aug 2026
Close
20 Aug 2026
Subscription
2.77×
IPO Schedule
| Issue Open Date | 18 Aug 2026 |
| Issue Close Date | 20 Aug 2026 |
| Allotment Date | 21 Aug 2026 |
| Listing Date | 24 Aug 2026 |
About Shankesh Jewellers
Shankesh Jewellers Limited is engaged in the business of hand-crafted gold jewellery and provides jewellery customisation and job work services. The company offers 22-karat and 18-karat gold jewellery, including bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings and combined jewellery sets. Its portfolio includes antique, semi-antique, Calcutta, temple, Gheru polish, and yellow, rhodium, and rose gold jewellery. The company follows an asset-light model and does not manufacture jewellery in-house. Production is outsourced to specialised karigars through third-party job workers, while the company manages designing, material sourcing, customisation and delivery of finished jewellery. Shankesh Jewellers operates from its office in Mumbai, Maharashtra, and supplies its products to corporate and non-corporate clients across India. Its customer network spans 21 states and four Union Territories. Use of proceeds: This is a combination of a fresh issue of shares and an offer for sale. Therefore, the net proceeds from the offer for sale will go to the selling shareholders, whereas the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company — Rs 158 crore Funding working capital requirements of the company — Rs 38 crore General corporate purposes
Company Details
Founders / Promoters
Mr. Manoj Kantilal Jain
Founded
2005
Registrar
KARVY
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Shankesh Jewellers — IPOFins Verdict
QuantitativeDriven by QIB demand at 1.3x and elevated disclosed risk (7/10), Shankesh Jewellers listed at a premium of 11.1% to its issue price. The picture is mixed — treat this as one input alongside the DRHP, valuation, and your own risk appetite.
- The company has recorded growth in revenue and profitability over the last three fiscals. Revenue from operations increased from Rs 1,061.78 crore in FY24 to Rs 1,403.83 crore in FY25 and Rs 1,630.79
- Shankesh Jewellers follows an asset-light model, with jewellery production outsourced to karigars through job workers instead of maintaining in-house manufacturing infrastructure. This allows the comp
- The company has an established network of job workers for its hand-crafted jewellery operations. It engaged 72 job workers in FY26, of which 66 had entered into agreements with the company, providing
- Shankesh Jewellers has a diversified product portfolio comprising 22-karat and 18-karat gold jewellery across categories such as antique, semi-antique, Calcutta, temple, Gheru polish, and yellow, rhod
- The company has established relationships with corporate jewellery retailers, including Joyalukkas India Limited, P. N. Gadgil & Sons Limited and Kalyan Jewellers India Limited, among others.
Score breakdown — what drove this verdict
High risk from DRHP → score -0.8
Institutional subscription → score 0
Actual listing outcome → score +0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹93
Listing Price
₹103.3
Listing Gain/Loss
+11.08%
Listing Date
24 Aug 2026
Price Since Listing
Returns are measured against the ₹93 issue price.
Listing
₹103.3
+11.1%
1 Week
₹93.22
+0.2%
Current
₹103.74
+11.5%
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FAQ
What is the price band of Shankesh Jewellers IPO?
The price band is ₹93 per share with a lot size of 160 shares. Minimum investment: ₹14,880.
What does Shankesh Jewellers do?
Shankesh Jewellers Limited is engaged in the business of hand-crafted gold jewellery and provides jewellery customisation and job work services. The company offers 22-karat and 18-karat gold jewellery, including bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings and combined jewellery sets. Its portfolio includes antique, semi-antique, Calcutta, temple, Gheru polish, and yellow, rhodium, and rose gold jewellery. The company follows an asset-light model and does not manufacture jewellery in-house. Production is outsourced to specialised karigars through third-party job workers, while the company manages designing, material sourcing, customisation and delivery of finished jewellery. Shankesh Jewellers operates from its office in Mumbai, Maharashtra, and supplies its products to corporate and non-corporate clients across India. Its customer network spans 21 states and four Union Territories. Use of proceeds: This is a combination of a fresh issue of shares and an offer for sale. Therefore, the net proceeds from the offer for sale will go to the selling shareholders, whereas the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company — Rs 158 crore Funding working capital requirements of the company — Rs 38 crore General corporate purposes
Should I apply for Shankesh Jewellers IPO?
Shankesh Jewellers listed at ₹103.3 (+11.1% premium to the ₹93 issue price) after 2.8x subscription. IPOFins Score 5/10: Driven by QIB demand at 1.3x and elevated disclosed risk (7/10), Shankesh Jewellers listed at a premium of 11.1% to its issue price. The picture is mixed — treat this as one input alongside the DRHP, valuation, and your own risk appetite.
Who founded Shankesh Jewellers?
Shankesh Jewellers was founded by Mr. Manoj Kantilal Jain in 2005.