Shankesh Jewellers lists at 11.08% premium on NSE after Rs 367 crore IPO
Handcrafted gold jewellery manufacturer Shankesh Jewellers debuted at Rs 103.30 on the NSE, an 11.08% premium to its Rs 93 issue price. The B2B supplier raised Rs 367.18 crore through its IPO and counts Joyalukkas, Kalyan Jewellers and Novel Jewels among its customers.
What happened
Handcrafted gold jewellery manufacturer Shankesh Jewellers debuted at premiums of 11.08% on NSE and 9.89% on BSE after raising Rs 367.18 crore. The B2B supplier
Key facts
- NSE listing price: Rs 103.30
- NSE listing premium: 11.08%
- BSE listing price: Rs 102.20
- BSE listing premium: 9.89%
- Issue price: Rs 93 per share
- Total IPO proceeds: Rs 367.18 crore
- Fresh issue: 2.95 crore shares worth Rs 274.18 crore
- Offer for sale: 1 crore shares worth Rs 93 crore
- IPO subscription dates: August 18-20
- Allotment finalised: August 21
- Lot size: 160 shares
- Minimum retail investment: Rs 14,880
- Valuation: 12.8x FY26 P/E
Why this matters
Shankesh Jewellers’ newly funded public-market profile and relationships with leading jewellery retailers make it a more visible potential partner for supply-chain alliances or strategic capacity expansion.
What to watch
- Gold price direction and volatility in India
- Quarterly order growth from organised jewellery retailers
- Gross margin and EBITDA-margin movement despite gold-price fluctuations
- Receivable days, inventory days and debt levels after the IPO
- New customer wins, repeat-order disclosures or capacity commissioning
- Lock-in expiry, promoter holding changes and sustained trading volumes
- Track the first two reported quarters for sales growth, EBITDA margin, working-capital days and operating cash conversion.
- Assess the allocation and deployment pace of IPO proceeds, especially toward capacity, inventory funding and debt reduction.
- Monitor order trends from organised jewellery chains including Joyalukkas, Kalyan Jewellers and Novel Jewels during wedding and festive buying periods.
- Compare the stock's post-listing valuation, liquidity and price performance with listed jewellery retailers, manufacturers and recent SME/mainboard consumer IPOs.
- Watch whether the company broadens its customer base and product mix to reduce dependence on a limited set of large B2B buyers.