Shankesh Jewellers’ ₹367 crore IPO closes with 1.18x subscription
Custom gold-jewellery manufacturer Shankesh Jewellers’ IPO closes on Aug. 20. The ₹367.18 crore issue was subscribed 1.18 times by 11:30 a.m.; a ₹2 grey-market premium indicates an implied 2.15% listing gain. Shares are scheduled to list on Aug. 25.
What happened
Custom gold-jewellery manufacturer Shankesh Jewellers closes its Rs 367.18 crore IPO subscription on Aug. 20. Its issue was subscribed 1.18 times by 11:30 a.m.,
Key facts
- Shankesh Jewellers IPO size: Rs 367.18 crore
- Shankesh Jewellers fresh issue: Rs 274.18 crore
- Shankesh Jewellers OFS: Rs 93 crore
- Shankesh Jewellers price band: Rs 88-Rs 93 per share
- Shankesh Jewellers GMP: Rs 2
- Shankesh Jewellers implied listing gain: 2.15%
- Shankesh Jewellers subscription: 1.18 times as of 11:30 a.m. Aug. 20
- Listing scheduled: Aug. 25
Why this matters
Shankesh’s IPO provides growth capital and a public-market currency, but muted demand may temper its ability to use a strong share-price premium for aggressive acquisitions or expansion.