Shankesh Jewellers IPO

About Shankesh Jewellers IPO

The public issue of the Shankesh Jewellers IPO, a Mainboard IPO, opens on Tuesday, August 18, 2026 and closes on Thursday, August 20, 2026. The allotment of shares will take place on Friday, August 21, 2026. The credit of shares to the demat account will take place on Monday, August 24, 2026. The initiation of refunds will take place on Monday, August 24, 2026. The listing of shares will take place on Tuesday, August 25, 2026. The equity shares offered through the IPO are proposed to be listed on the BSE and the NSE.

The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include 2,94,82,000 shares aggregating up to ₹274 crore. The offer for sale portion includes 1,00,00,000 shares of ₹5 aggregating up to ₹93 crore. The total number of shares and aggregate amount are 3,94,82,000 shares aggregating up to ₹367 crore.

Shankesh Jewellers IPO’s price band is set at ₹88 to ₹93 per share. The lot size for an application is 160 shares. The minimum amount of investment required by a retail individual investor is ₹14,880 (160 shares) (based on upper price).

Shankesh Jewellers is engaged in the business of hand-crafted gold jewellery and providing customisation services to their clients and depend on third party jobworkers for production and manufacturing of products. Their clientele includes both corporate entities and non-corporate entities.

Objectives of Shankesh Jewellers IPO

• Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company.
  
• Funding working capital requirements of the company.
  
• General corporate purposes.
  

Industry Outlook

The Indian gems and jewellery industry is a significant pillar of the national economy, contributing approximately 7% to the country’s GDP and around 15% of total merchandise exports. The sector is expected to grow steadily, driven by domestic consumption and international demand. India is the largest diamond-cutting and polishing hub globally, producing over 90% of the world’s polished diamonds. The industry comprises various segments, including gold jewellery, diamond jewellery, coloured gemstones, and diamond-studded gold jewellery, with gold jewellery dominating the market. Gold plays a vital cultural and religious role in India, symbolising prosperity and wealth, and is an essential part of weddings, festivals, and other ceremonies. The manufacturing base is geographically concentrated in key states like Maharashtra, Gujarat, and Tamil Nadu. Organised players are gaining traction as the industry undergoes formalisation. Increasing consumer preference for branded jewellery, quality assurance, and contemporary designs is driving this transition. Government initiatives, such as mandatory hallmarking for gold jewellery, the Gold Monetisation Scheme, and easing gold import restrictions, are bolstering the formal sector.

About Shankesh Jewellers

Shankesh Jewellers engages in the business of hand-crafted gold jewellery and providing customisation services to their clients and depend on third party jobworkers for production and manufacturing of products. Their clientele includes both corporate entities such as Joyalukkas India Limited, P. N. Gadgil & Sons Limited, Kalyan Jewellers India Limited, P N Gadgil Jewellers Limited, Manoj Vaibhav Gems ‘N’ Jewellers Limited, Novel Jewels Limited (Aditya Birla Group), Bhima Jewellery Madurai, Hari Prasad Gopi Krishna Saraf Private Limited, D.P Abhushan Limited, Vysyaraju Jewellers Private Limited, Gajaananda Jewellery Mart India Private Limited, Arundhati Jewellers Pvt. Ltd. amongst others and non-corporate entities such as Verma Jewellers and Sham Jewellers amongst others. They offer a diverse range of high-quality hand-crafted gold jewellery in 22-karat and 18-karat. Their product portfolio encompasses an extensive collection of bangles, bridal jewellery, chokers, jhumkas, long and short necklace sets, mangal sutra and rings and combined jewellery sets in categories of antique jewellery, semiantique jewellery, calcutta jewellery, temple jewellery, gheru polish and yellow/ rodium/ rose gold jewellery with the capability to create customized jewellery tailored to customer specifications.

Strengths of Shankesh Jewellers

• Strong historical financial results.
• Long term relation with local jobworkers for handling custom hand-crafted gold jewellery making processes.
• Asset-light business model.
• Wide product range in hand crafted gold jewellery.
• Commitment to quality and customer satisfaction.
• Established relations with corporate and non-corporate jewellery clients.
• Experienced promoters and management team with execution capabilities.
• Established marketing setup.

Risks of Shankesh Jewellers

• Their business and the demand for their product is reliant on the success of their customers’ products with end consumers.
• Jewellery purchases are discretionary and often perceived as luxury purchases.
• A significant portion of their business operations and revenue generation is concentrated in the top 5 states (Tamil Nadu, Maharashtra, Uttar Pradesh, Bihar and Odisha).
• They operate in a high value commodity sector and there are certain security risks associated with the transit and delivery of gold jewellery, including potential loss or theft.
• They are dependent on third party jobworkers for the production and manufacturing of all of their products.
• They are subject to strict quality requirements, and sales of their products are dependent on their quality controls and standards, which has resulted in certain instances of their products being returned by their customers.
• Their funding requirements and proposed deployment of the net proceeds of the offer have not been appraised by a bank or a financial institution.

Anchor Investor Bidding Date

Monday, August 17, 2026

IPO Registrar and Book Running Lead Managers

Registrar Details
Kfin Technologies Ltd.
Email: shankesh.ipo@kfintech.com
Tel: 040-79615565

Book Running Lead Managers

• Aryaman Financial Services Ltd.
  
• Smart Horizon Capital Advisors Pvt.Ltd.
  

Shankesh Jewellers Contact Details
Office No. 12, 3rd Floor, 101 Mumbadevi Diamond Premises
Co- Op, Society Ltd, Zaveri Bazar
Mumbai, Maharashtra, 400002
Email: cs@shankeshjewellers.com
Phone: +91 22234700089

Shankesh Jewellers Business Model

The company earns its revenue through engaging in the business of hand-crafted gold jewellery and providing customisation services to their clients and depend on third party jobworkers for production and manufacturing of products.

Shankesh Jewellers Growth Trajectory

Shankesh Jewellers’s Total Income for FY26 was ₹1630.93 crore, whereas in FY25 and FY24 it was ₹1403.94 crore and ₹1061.91 crore, respectively.

The Profit After Tax for FY26 was ₹106.68 crore, whereas in FY25 and FY24 it was ₹40.31 crore and ₹12.82 crore, respectively.

Their EBITDA for FY26 was ₹157.90 crore, whereas in FY25 and FY24 it was ₹65.35 crore and ₹28.60 crore, respectively.

Shankesh Jewellers Market Position

Shankesh Jewellers have been associated with 72 jobworkers in total during Fiscal 2026 for manufacturing of their jewellery. They don’t manufacture any jewellery in-house so that they can focus on inventory management, designing and customization of hand-crafted gold jewellery, and can run the operations with a wide range of varieties of their products so as to ensure that their clients can showcase the best pieces of jewellery to their end consumers without the hassle of inventory management, designing and sourcing.

As of 31 March 2026, the company’s Total Income, Profit After Tax, and EBITDA were ₹1630.93 crore, ₹106.68 crore, and ₹157.90 crore, respectively.

How to apply for Shankesh Jewellers IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.