Shankesh Jewellers IPO opens at Rs 88-93 price band, GMP shows modest gain

The initial public offering of Shankesh Jewellers Ltd opens for subscription on 18 August and will close on 20 August. The company has set a price band of Rs 88 to Rs 93 per equity share. The total issue size is Rs 367 crore, comprising a fresh issue of Rs 274 crore and an offer for sale of Rs 93 crore. Livemint reports a grey market premium of Rs 5, suggesting a 5% listing gain. NDTV Profit reports a GMP of Rs 2, implying a potential 2.15% listing premium.

Shankesh Jewellers is a Mumbai-based wholesaler of customised handcrafted gold jewellery. Its product range includes 22-karat and 18-karat bangles, bridal sets, chokers, jhumkas and mangalsutras. The company serves corporate clients including Joyalukkas, Kalyan Jewellers and P. N. Gadgil & Sons. For FY26, NDTV Profit reports total income of Rs 1,630.93 crore, profit after tax of Rs 106.68 crore and EBITDA of Rs 157.90 crore, marking year-on-year growth in all three metrics.

The minimum retail bid is 160 shares, requiring an investment of Rs 14,880 at the upper price band. Share allotment is expected on 21 August, with listing on NSE and BSE planned for 25 August. Proceeds from the fresh issue will be used for working capital, debt repayment and general corporate purposes.