1 week ago
Shankesh Jewellers Debuts 11% Above IPO Issue Price
Shankesh Jewellers sold shares to the public through an IPO.
Its shares began trading on August 25, 2026, on the NSE and BSE.
The company had set the IPO price at ₹93 per share.
Before listing, the unofficial grey market suggested a price of about ₹95.
However, the shares opened higher than that estimate.
They listed at ₹103.30 on the NSE and ₹102.20 on the BSE.
This meant investors received an opening gain compared with the IPO price.
The company makes customised handcrafted gold jewellery and plans to use some IPO money to reduce borrowings.
Shankesh Jewellers shares listed at ₹103.30 on NSE and ₹102.20 on BSE on August 25, 2026.
The NSE listing represented an 11.08% premium and the BSE listing a 9.89% premium to the ₹93 issue price.
The ₹367.18-crore IPO was subscribed 2.80 times, led by non-institutional investors at 5.7 times.
The issue included a ₹274.18-crore fresh issue and a ₹93-crore offer-for-sale.
The company plans to use ₹158 crore of proceeds to repay or pre-pay certain outstanding borrowings.
- Who
- Shankesh Jewellers Limited, its IPO investors, Aryaman Financial Services, and KFin Technologies.
- What
- Shankesh Jewellers completed its IPO listing, opening at premiums on both the NSE and BSE.
- Where
- The shares listed on the National Stock Exchange of India and BSE Limited.
- When
- The IPO was subscribed from August 18 to 20, allotment was finalised on August 21, and the shares debuted on August 25, 2026.
- Why
- The company raised funds to improve its financial position, support business requirements, and repay or pre-pay certain borrowings.
Positive listing and business outlook
Caution despite strong debut
Listing performance
Positive listing and business outlook
The shares opened at premiums of 11.08% on the NSE and 9.89% on the BSE, exceeding the pre-listing grey-market estimate of about ₹95.
Caution despite strong debut
The grey market premium was only an unofficial indicator and did not guarantee the actual listing price or future performance.
IPO demand
Positive listing and business outlook
The issue was subscribed 2.80 times, with particularly strong demand from non-institutional investors at 5.7 times.
Caution despite strong debut
Subscription figures and a strong opening do not by themselves establish how the stock will perform over the longer term.
Valuation and prospects
Positive listing and business outlook
Anand Rathi Research described the IPO as fairly priced and cited financial growth, improving profitability, an asset-light model, and an established B2B handcrafted jewellery presence before recommending “Subscribe: Long Term.”
Caution despite strong debut
The company still must use the IPO proceeds effectively, including the planned ₹158 crore allocation for debt repayment, to strengthen its financial position.
Key facts
- NSE listing price
- ₹103.30 per share
- BSE listing price
- ₹102.20 per share
- Issue price
- ₹93 per share
- Listing premium
- 11.08% on NSE and 9.89% on BSE
- IPO size
- ₹367.18 crore
- Subscription
- 2.80 times overall; 5.7 times for non-institutional investors, 1.32 times for QIBs, and 2.42 times for retail investors
- Issue structure
- ₹274.18 crore fresh issue and ₹93 crore offer-for-sale
- Planned debt allocation
- ₹158 crore toward repayment or pre-payment of outstanding borrowings
Quotes
Anand Rathi Research
Financial research firm providing an expert assessment of the Shankesh Jewellers IPO
“Shankesh Jewellers is valued at 12.8x P/E on FY26 earnings. Given its strong financial growth, improving profitability, asset-light business model and established presence in the B2B handcrafted gold jewellery segment, the valuation is fairly priced. We believe that the IPO is fairly priced and recommend a ‘Subscribe: Long Term’ rating to the IPO.”
financialexpress.com
Sources
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