SJ
Shankesh Jewellers Limited IPO
Handcrafted Gold Jewellery · 22K & 18K Designs · B2B Network · Asset-Light Model
📋 Mainline IPO
Fresh + OFS
NSE, BSE
₹93
Upper Price
₹367.18 Cr
Issue Size
Aug 25, 2026
Listing Date
₹1,093.21 Cr
Market Cap (Pre)
📅 IPO Timetable
All dates tentative🟢
IPO Opens
Tuesday, 18 August 2026
Bidding starts — apply before close
🔒
IPO Closes
Thursday, 20 August 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Friday, 21 August 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Monday, 24 August 2026
Unallotted funds returned; shares credited to demat
🏷️
Tuesday, 25 August 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date18 August 2026 (Tue)
IPO Close Date20 August 2026 (Thu)
Listing Date25 August 2026 (Tue)
Face Value₹5 per share
Price Band₹88 to ₹93
Issue Price (Upper Band)₹93 per share
Issue TypeBook Build — Fresh + OFS
Lot Size160 shares
Total Issue Size3,94,82,000 shares (₹367.18 Cr)
Fresh Issue2,94,82,000 shares (₹274.18 Cr)
Offer for Sale (OFS)1,00,00,000 shares (₹93.00 Cr)
Pre-Issue Shares11,75,49,420
Post-Issue Shares14,70,31,420
Promoter Holding (Pre)95.48%
Market Cap (Pre-IPO)₹1,093.21 Cr
Listing ExchangeNSE, BSE
Lead ManagerAryaman, Smart Horizon
RegistrarKfin Technologies Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹93| Investor Type | Lots | Shares | Amount |
|---|---|---|---|
| Retail — Minimum | 1 | 160 | ₹14,880 |
| Retail — Maximum | 13 | 2,080 | ₹1,93,440 |
| S-HNI (sNII) — Min | 14 | 2,240 | ₹2,08,320 |
| S-HNI (sNII) — Max | 67 | 10,720 | ₹9,96,960 |
| B-HNI (bNII) — Min | 68 | 10,880 | ₹10,11,840 |
⚠️ Note: Investors can bid for a minimum of 160 shares and in multiples thereof. Retail individual investors can apply up to ₹2,00,000.
👥 Investor Reservation
Allocated portion of Net OfferNot more than 50%
QIB Portion
Not less than 35%
Retail Portion
Not less than 15%
NII Portion
📊 Subscription Status
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📈 Company Financials
Restated Standalone · ₹ Crore| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 403.76 | 249.56 | 177.07 |
| Total Income | 1,630.93 | 1,403.94 | 1,061.91 |
| PAT | 106.68 | 40.31 | 12.82 |
| EBITDA | 157.90 | 65.35 | 28.60 |
| Net Worth | 209.43 | 100.60 | 60.29 |
| Reserves & Surplus | 150.65 | 90.83 | 57.50 |
| Total Borrowing | 167.30 | 145.63 | 109.81 |
Income Growth
FY 2023–24₹1,061.91 Cr
FY 2024–25₹1,403.94 Cr
FY 2025–26₹1,630.93 Cr
🎯 Key Performance Indicators
50.94%
ROE
FY 2025–26
0.80
Debt/Equity
FY 2025–26
41.57%
ROCE
FY 2025–26
6.54%
PAT Margin
FY 2025–26
9.68%
EBITDA Margin
FY 2025–26
50.94%
RoNW
FY 2025–26
10.84x
Price/Book
FY 2025–26
17.82
NAV
FY 2025–26
⚖️ Valuation & EPS
Pre-IPO EPS
₹9.08
FY26 earnings + pre-issue shares
P/E: 10.24xPost-IPO EPS
₹7.26
FY26 earnings + post-issue shares
P/E: 12.81xPrice to Book Value
10.84x
At upper price band ₹93
Market Cap (Pre-IPO)
₹1,093.21 Cr
At issue price ₹93
ℹ️
Pre-IPO EPS (₹9.08) based on pre-issue shares (11,75,49,420) and FY26 earnings. Post-IPO EPS (₹7.26) accounts for the dilution resulting from the issuance of 2,94,82,000 fresh equity shares extending the total post-issue equity to 14,70,31,420 shares. Post-IPO Market Cap expands to ₹1,367.39 Cr.
🎯 Objects of the Issue
Net proceeds utilisation1
Repayment/pre-payment, in full or part, of certain borrowings
₹158.00 Cr
2
Funding working capital requirements
₹38.00 Cr
3
General Corporate Purposes
Balance
Total Fresh Issue Goal
₹274.18 Cr
🏢 About Shankesh Jewellers Ltd.
Est. 2005 · Mumbai, Maharashtra · Handcrafted Gold JewelleryShankesh Jewellers Limited, incorporated in 2005, operates dynamically within the intricate Indian jewellery market as a premier B2B manufacturer and custom artisan of highly precise 22-karat and 18-karat handcrafted gold jewellery. The Mumbai-based enterprise curates expansive product portfolios encompassing specialized antique, semi-antique, Calcutta, temple, and gheru polish designs spanning bangles, chokers, jhumkas, and mangalsutras.
Uniquely structured on a highly efficient asset-light manufacturing model, Shankesh strategically engages an active network of 72 skilled local karigars (artisans) and jobworkers for bulk production, while retaining rigorous in-house control over core design innovation, bullion sourcing, quality checks, and logistics via 46 permanent employees. With over three decades of legacy expertise, the company reliably serves prestigious national jewellery chains including Joyalukkas, Kalyan Jewellers, and Novel Jewels (Aditya Birla Group).
Brand Ecosystem
💍
Handcrafted Jewellery
Specialized 22K and 18K gold designs ranging from Calcutta to intricate temple aesthetics
⚙️
Asset-Light Manufacturing
Scalable production utilizing skilled local karigars while controlling internal design and QA
🏢
B2B Clientele
Pan-India supply pipelines serving leading brands like Kalyan, Joyalukkas, and Novel Jewels
🔨
Custom Job Work
Dedicated B2B services executing exact specifications utilizing client-supplied bullion
Competitive Strengths
📈Strong historical financial performance underscored by robust return ratios and net profitability
🤝Deep, long-term operational relationships supporting local artisan networks for agile manufacturing
🌟Highly diverse, customized handcrafted product range meeting strict BIS-hallmarked quality criteria
🏆Entrenched commercial presence servicing elite domestic corporate and non-corporate retail chains
Company Promoters
KJ
Kantilal Kheemraj Jain & Manoj Kantilal Jain
Promoters, Shankesh Jewellers Ltd.
MJ
Mahavir Kantilal Jain
Promoter, Shankesh Jewellers Ltd.
📅 Key Dates
IPO Opens18 Aug 2026
IPO Closes20 Aug 2026
Allotment21 Aug 2026
Refund & Share Credit24 Aug 2026
Listing Day25 Aug 2026
💡 Quick Summary
Price Band₹88 – ₹93
Upper Price₹93 / share
Lot Size160 shares
Min. Investment (Retail)₹14,880
Issue Size₹367.18 Cr
ListingBSE, NSE
🏦 Registrar & Lead Manager
Lead Manager
Aryaman Financial, Smart Horizon
📍 Registered Address
Shankesh Jewellers Ltd.
Office No. 12, 3rd Floor,
101 Mumbadevi Diamond Premises Co- Op,
Zaveri Bazar, Mumbai — 400002
📞 +91 22234700089
[email protected]
Office No. 12, 3rd Floor,
101 Mumbadevi Diamond Premises Co- Op,
Zaveri Bazar, Mumbai — 400002
📞 +91 22234700089
[email protected]
🛡️ Regulatory Note: Mainline IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️
Disclaimer: This page presents publicly available information from the Shankesh Jewellers IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
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