Closing Day Summary (20 August 2026)
The Shankesh Jewellers IPO enters its final bidding day today, Thursday, August 20, 2026, with public subscription closing at 5:00 PM IST for UPI ASBA mandate approvals. The latest verified pre-open baseline reflects cumulative bids recorded up to the close of Day 2, where overall subscription reached 0.94 times across the BSE and NSE electronic order books. Retail Individual Investors (RII) have fully subscribed their quota at 1.13 times, while Qualified Institutional Buyers (QIB) and Non-Institutional Investors (NII) stand at 0.76 times each ahead of final-session allocations.
Data reflects the Day 2 closing / pre-open Day 3 baseline (verified as of August 20, 2026, 09:20 AM IST). Final-day live exchange bidding will update periodically until market close.1. Shankesh Jewellers IPO Subscription Status Today (Pre-Open Baseline)
The table below outlines the category-wise shares offered to the public (excluding anchor investor allocations), bids received, and overall subscription multiples recorded across the BSE and NSE electronic order books heading into the final session:
| Investor Category | Shares Offered (Net Quota) | Bids Received (Shares) | Subscription (x) | Demand Status |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 7,896,344 | ~6,001,220 | 0.76x | Day 3 Final-Day Allocations Awaited |
| Non-Institutional Investors (NII / HNI) | 4,145,580 | ~3,150,640 | 0.76x | Steady HNI / Corporate Bidding |
| Retail Individual Investors (RII) | 15,595,280 | ~17,622,660 | 1.13x | Fully Subscribed (1.13x) |
| Total Public Bidding Offer | 27,637,204 | ~26,774,520 | 0.94x | 94% Booked Ahead of Final Hours |
Note: Total public bidding shares (27,637,204 equity shares) represents the Net Offer available to public bidders after deducting 11,844,516 anchor shares allocated on 17 August 2026. Data source: Official consolidated BSE & NSE public issue electronic order book reports. Last verified: August 20, 2026, at 09:20 AM IST (Day 2 closing / pre-open Day 3 baseline).
2. Shankesh Jewellers IPO: Key Issue Details
The following parameters outline the structural specifications verified from the official offer documents and stock exchange public issue circulars:
| Parameter | Official Detail / Value |
|---|---|
| Issuer Entity | Shankesh Jewellers Limited |
| Issue Opening Date | Tuesday, August 18, 2026 |
| Issue Closing Date | Thursday, August 20, 2026 (Today) |
| Price Band | ₹88 to ₹93 per equity share |
| Face Value | ₹5 per equity share |
| Market Lot / Minimum Bid | 160 Equity Shares (and multiples thereof) |
| Minimum Retail Investment | ₹14,880 (at the upper price band of ₹93) |
| Maximum Retail Application | 13 Lots (2,080 shares = ₹1,93,440) |
| Total Issue Size | ₹367.18 crore (39,481,720 equity shares at upper band) |
| Fresh Issue Size | ₹274.18 crore (29,481,720 equity shares) |
| Offer for Sale (OFS) | ₹93.00 crore (10,000,000 equity shares by promoters) |
| Anchor Investor Portion | ₹110.15 crore (11,844,516 shares allocated on 17 August 2026) |
| Proposed Listing Exchanges | National Stock Exchange of India (NSE) & BSE Limited |
| Registrar to the Issue | KFin Technologies Limited |
| Book Running Lead Managers (BRLMs) | Aryaman Financial Services Limited, Smart Horizon Capital Advisors |
3. What Does Shankesh Jewellers Limited Do?
Incorporated in 2005 (originally operating as H. K. Gold Private Limited), Mumbai-headquartered Shankesh Jewellers Limited is a B2B manufacturer, designer, and bulk wholesaler of 18-karat and 22-karat handcrafted gold jewellery.
The company operates an asset-light, designer-led manufacturing and supply-chain model. Key operational facets include:
- Design & Quality Control: In-house design teams conceptualize contemporary and traditional Indian bridal, temple, antique, and studded gold ornaments.
- Artisan Jobwork Network: Jewellery fabrication and crafting are outsourced to an extensive network of skilled master artisans (karigars) and specialized jobwork manufacturing units across Maharashtra, Gujarat, and West Bengal.
- B2B Enterprise Distribution: The company supplies finished gold collections directly to leading organized regional and national retail chains, including Kalyan Jewellers, Joyalukkas, P. N. Gadgil Jewellers, and Novel Jewels (Aditya Birla Group).
4. Objects of the Issue: Use of Fresh Proceeds
According to the official Red Herring Prospectus filed with SEBI, Shankesh Jewellers plans to utilize the gross proceeds from the Fresh Issue (₹274.18 crore) toward the following corporate objectives:
- Repayment or Prepayment of Borrowings (₹158.00 crore): Prepayment or scheduled repayment of outstanding secured and unsecured working-capital credit facilities availed from banks and financial institutions, aiming to lower finance overheads.
- Funding Working Capital Requirements (₹38.00 crore): Financing expanded procurement of gold bullion, work-in-progress inventories, and trade receivables.
- General Corporate Purposes: Supporting ongoing operational expenses, technology infrastructure, and strategic expansion initiatives.
The proceeds from the Offer for Sale (₹93.00 crore) will be received directly by the selling promoter shareholders, and the company will not receive any capital from this component.
5. Financial Snapshot: FY24 to FY26 Performance
Shankesh Jewellers has reported revenue and operating profit growth over the past three fiscal years, as presented in its restated financial statements:
| Financial Metric (₹ in Crore) | FY24 (Restated) | FY25 (Restated) | FY26 (Restated) |
|---|---|---|---|
| Revenue from Operations | ₹1,061.78 | ₹1,348.50 | ₹1,630.78 |
| EBITDA | ₹28.56 | ₹68.20 | ₹157.86 |
| EBITDA Margin (%) | 2.69% | 5.06% | 9.68% |
| Profit After Tax (PAT) | ₹12.82 | ₹38.15 | ₹106.68 |
| PAT Margin (%) | 1.21% | 2.83% | 6.54% |
| Net Worth | ₹142.30 | ₹180.45 | ₹287.13 |
| Total Borrowings | ₹195.40 | ₹218.60 | ₹245.80 |
| Return on Net Worth (RoNW) | 9.01% | 21.14% | 37.15% |
Key Financial Trends
- Revenue Growth: Revenue from operations increased from ₹1,061.78 crore in FY24 to ₹1,630.78 crore in FY26, representing a Compound Annual Growth Rate (CAGR) of 23.93%.
- Profitability: Restated net profit rose from ₹12.82 crore in FY24 to ₹106.68 crore in FY26.
- Margin Trends: EBITDA margin stood at 9.68% in FY26 compared to 2.69% in FY24, influenced by product mix shifts toward studded and customized bridal gold jewellery.
6. Key Material Risks Disclosed in the RHP
Prospective applicants should review the primary operational and market risk factors disclosed in the offer documents:
- Precious Metal Price Volatility: The business is exposed to fluctuations in gold bullion market prices. Sudden sharp movements in bullion rates can affect raw-material purchase costs, finished inventory valuation, and gross margins.
- Working Capital Intensity: B2B jewellery wholesaling requires substantial capital commitments for holding high-value precious metal stock and extending trade credit to retail clients.
- Customer Concentration: A significant portion of revenue is generated from sales to top corporate retail accounts. Loss of major retail partnerships could impact order volumes.
- Artisan Network Dependence: The company relies on third-party jobworkers and artisan units (karigars) for jewellery crafting. Disruptions in artisan supply or labor shortages could impact delivery schedules.
- Geographic Concentration: Primary corporate and warehousing operations are based in Mumbai, Maharashtra.
- Outstanding Litigations: Ongoing civil and direct/indirect tax proceedings involving the company and promoters are pending before various appellate forums.
7. What Does Subscription Level Mean for Allotment?
As the public issue heads into its final trading hours, investors should note the key allotment realities:
Allotment & Bidding Realities:
- Basis of Allotment Rules: In an oversubscribed retail category, allotment is carried out under the applicable basis-of-allotment rules among valid applications overseen by the stock exchanges and the registrar (KFin Technologies).
- QIB Final Day Flows: In typical Indian book-built offerings, Qualified Institutional Buyer (QIB) participation can change materially during the final bidding day as institutional desks evaluate cumulative book demand.
- No Return Guarantees: High subscription levels do not guarantee listing gains or positive market performance.
For complete details on tracking allotment once approved, explore our IPO Allotment Status Guide and our guide on how to check IPO allotment status by PAN on NSE.
8. Grey Market Premium (GMP) Overview (Secondary Indicator)
In unofficial market tracking across third-party dealing desks, the unlisted Grey Market Premium (GMP) for Shankesh Jewellers IPO is quoted in a conflicting range of approximately ₹2.5 to ₹5.0 per share as of the morning of August 20, 2026.
Editorial GMP Risk Note & Methodology: Grey market premiums are completely unofficial, unregulated, and speculative price estimates traded on informal non-exchange platforms. GMP figures do not reflect official data from NSE, BSE, or SEBI, and should never be treated as a guaranteed listing price or investment recommendation. For a detailed guide on how grey market mechanisms operate, read our guide on what is GMP in IPOs and our GMP editorial methodology.
9. Shankesh Jewellers IPO: Official Timetable
The table below details the schedule for bidding, basis of allotment, fund unblocking, and stock exchange listing:
| Event Milestone | Official Scheduled Date |
|---|---|
| Anchor Investor Bidding Date | Monday, August 17, 2026 |
| Issue Opening Date | Tuesday, August 18, 2026 |
| Issue Closing Date | Thursday, August 20, 2026 (Today) |
| Finalization of Basis of Allotment | Friday, August 21, 2026 |
| Initiation of Refunds / UPI Mandate Unblocking | Monday, August 24, 2026 |
| Credit of Shares to Demat Accounts | Monday, August 24, 2026 |
| Tentative Listing Date on NSE & BSE | Tuesday, August 25, 2026 |
10. Frequently Asked Questions (FAQs)
What is Shankesh Jewellers IPO subscription status today?
As of the pre-open Day 3 baseline (August 20, 2026, 09:20 AM IST), the Shankesh Jewellers IPO was subscribed 0.94 times overall, with the retail portion fully booked at 1.13 times and QIB and NII categories subscribed 0.76 times each.
When does the Shankesh Jewellers IPO close?
The issue closes for public subscription today, Thursday, August 20, 2026, at 5:00 PM IST for UPI mandate approvals.
What is the price band of Shankesh Jewellers IPO?
The price band is fixed at ₹88 to ₹93 per equity share with a face value of ₹5 per share.
What is the minimum lot size and application amount?
The minimum market lot is 160 shares, requiring a minimum retail application investment of ₹14,880 at the upper price band of ₹93.
What is the total issue size and structure?
The total issue size is ₹367.18 crore, comprising a Fresh Issue of ₹274.18 crore (29,481,720 shares) and an Offer for Sale of ₹93.00 crore (10,000,000 shares) by promoters.
Where will Shankesh Jewellers shares be listed?
The shares are proposed to be listed on both BSE Limited and the National Stock Exchange of India (NSE).
Who is the registrar to the Shankesh Jewellers IPO?
KFin Technologies Limited is the appointed registrar for processing applications and basis of allotment.
Who are the Book Running Lead Managers?
Aryaman Financial Services Limited and Smart Horizon Capital Advisors Private Limited are the BRLMs managing the public issue.
When is the basis of allotment finalized?
The basis of allotment is scheduled to be finalized on Friday, August 21, 2026.
11. Primary Source Notes & Regulatory Citations
All data points, issue allocations, financial figures, and operational metrics in this report have been verified against primary regulatory documents, including:
- Company Offer Document Portal: Shankesh Jewellers Limited Official Investor Relations & Offer Documents .
- Official Offer Documents: Shankesh Jewellers Limited Red Herring Prospectus (RHP) and issue notices accessible via the BRLM Offer Document Portal (Aryaman Financial Services) and the SEBI Regulatory Filing Repository.
- Exchange Notices: Official public issue circulars published on the BSE Public Issues Notice Board and the NSE Issue Information Portal for Shankesh Jewellers Limited.
- Anchor Allocation Notification: BRLM notification dated August 17, 2026, confirming ₹110.15 crore raised from anchor investors at ₹93 per share.
Statutory Editorial & Regulatory Disclaimer
This article has been prepared by the Digital Arthalaya News Desk solely for informational and educational purposes based on publicly filed offer documents and stock exchange notices. It does not constitute financial, legal, tax, or investment advice, nor does it represent an endorsement, solicitation, or recommendation to buy, sell, or subscribe to any security. Digital Arthalaya does not publish "Apply" or "Avoid" recommendations. Initial public offerings involve significant investment risks, including potential loss of principal capital. Investors must review the complete Red Herring Prospectus filed with SEBI and consult an independent SEBI-registered investment advisor before taking any investment decisions.