Shankesh Jewellers lists at up to 11% premium after Rs 367 crore IPO

Mumbai-based handcrafted gold jewellery maker Shankesh Jewellers debuted at Rs 103.30 on the NSE and Rs 102.20 on the BSE, versus an issue price of Rs 93. The IPO was subscribed 2.80 times overall, with retail participation at 2.42 times.

— Source publishedTue, 25 Aug, 2026, 10:00 IST·First seen Tue, 25 Aug, 2026, 10:17 IST·Source Business Today · Latest

What happened

Mumbai-based handcrafted gold jewellery maker Shankesh Jewellers debuted strongly, listing at premiums of 11.08% on NSE and 9.89% on BSE after raising about Rs

Key facts

  • Listed at Rs 103.30 on NSE, 11.08% above Rs 93 issue price
  • Listed at Rs 102.20 on BSE, 9.89% above issue price
  • IPO raised around Rs 367 crore: Rs 274 crore fresh issue and Rs 93 crore OFS
  • Price band: Rs 88-93 per share
  • Lot size: 150 shares
  • Overall subscription: 2.80 times
  • QIB subscription: 1.32 times
  • NII subscription: 5.68 times
  • Retail subscription: 2.42 times

Why this matters

The successful listing gives Shankesh Jewellers a stronger currency for store expansion, supply-chain investment and potential partnerships or acquisitions in the organised jewellery market.

What to watch

  • First quarterly results after listing: revenue growth, EBITDA margin, PAT conversion and operating cash flow.
  • Inventory days, receivables, borrowings and any rise in gold-metal financing costs.
  • Gold-price direction and its effect on consumer demand, ticket sizes and gross margins.
  • Festive and wedding-season sales commentary, including demand for lightweight versus high-value gold products.
  • IPO-proceeds utilization versus stated objectives and the pace of new store, capacity or distribution additions.
  • Shareholding changes after lock-in periods and sustained trading volume above listing-week levels.
  • Provide a detailed deployment schedule for IPO proceeds, especially inventory, capacity, debt reduction and store/distribution expansion.
  • Use listing visibility to strengthen jeweller-channel partnerships and build consumer trust around craftsmanship, purity assurance and wedding collections.
  • Prioritize inventory turns and hedging discipline as higher gold prices can expand working-capital needs and pressure affordability.
  • Communicate same-store sales, outlet additions, order-book trends and margin performance in the first two listed-company earnings updates.

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