Shankesh Jewellers Limited is engaged in handcrafted gold jewellery and customised jewellery solutions, specialising in 22-karat and 18-karat gold.
Its product portfolio includes bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings, and jewellery sets across Antique, Semi-Antique, Calcutta, Temple, Gheru Polish, Yellow Gold, Rhodium, and Rose Gold categories.
The company has a PAN-India B2B presence, supplying jewellery to reputed corporate and non-corporate jewellery businesses, including Joyalukkas, P. N. Gadgil, Kalyan Jewellers, Novel Jewels and Bhima Jewellery, among others.
Shankesh Jewellers follows an asset-light model, outsourcing manufacturing to skilled Karigars and jobworkers while managing design, sourcing, quality checks, inventory, sales and customer relationships in-house.
The company also provides custom job work services, where clients supply bullion and design requirements, while Shankesh Jewellers manages production through Karigars and jobworkers. Its gold jewellery is BIS-hallmarked as per regulatory guidelines.
The company’s business can broadly be classified into two segments:
- Sales of Handcrafted Gold Jewellery: 22-karat and 18-karat gold jewellery across multiple designs, categories and finishes.
- Custom Job Work Services: Jewellery manufacturing based on client-supplied bullion and specific design requirements.
As of May 31, 2026, Shankesh Jewellers had 46 permanent employees and 72 job workers across key functions including administration, sales, design, client servicing and quality.
Shankesh Jewellers IPO – Details
| IPO Opening Date | 18 August 2026 |
| IPO Closing Date | 20 August 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 3,94,82,000 Shares Worth ₹367.18 Crore Fresh Issue: 2,94,82,000 Shares Worth ₹274.18 Crore Offer For Sale: 1,00,00,000 Shares Worth ₹93.00 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹88 – ₹93 per share |
| Market Lot | 160 Shares |
| Min Order | 160 Shares [1 Lot] |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Shankesh Jewellers IPO – Date Schedule
| IPO Open Date | 18 August 2026 |
| IPO Close Date | 20 August 2026 |
| Basis of Allotment | 21 August 2026 |
| Initiation of Refund | 24 August 2026 |
| Credit of Shares to Demat Account | 24 August 2026 |
| IPO Listing Date | 25 August 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 20, 2026 |
Shankesh Jewellers IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 160 | ₹14,880 |
| Retail (Max) | 13 | 2,080 | ₹1,93,440 |
| S-HNI (Min) | 14 | 2,240 | ₹2,08,320 |
| S-HNI (Max) | 67 | 10,720 | ₹9,96,960 |
| B-HNI (Min) | 68 | 10,880 | ₹10,11,840 |
Competitive Strength
- Strong historical financial performance.
- Long-term relationships with local jobworkers for handcrafted gold jewellery manufacturing.
- Asset-light business model.
- Wide product range in handcrafted gold jewellery.
- Strong focus on quality and customer satisfaction.
- Established relationships with corporate and non-corporate jewellery clients.
- Experienced promoters and management team with proven execution capabilities.
- Established marketing setup.
Company Promoters
- Kantilal Kheemraj Jain
- Mahavir Kantilal Jain
- Manoj Kantilal Jain
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹1,061.91 Cr | ₹1,044.67 Cr | ₹12.82 Cr | ₹109.81 Cr |
| 31 March 2025 | ₹1,403.94 Cr | ₹1,349.91 Cr | ₹40.31 Cr | ₹145.63 Cr |
| 31 March 2026 | ₹1,630.93 Cr | ₹1,487.54 Cr | ₹106.68 Cr | ₹167.30Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 50.94% |
| ROCE | 41.57% |
| Debt/Equity | 0.80 |
| RoNW | 50.94% |
| PAT Margin | 6.54% |
| EBITDA Margin | 9.68% |
| NAV | 17.82 |
| Pre IPO | Post IPO | |
| EPS (₹) | 9.08 | 7.26 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Repayment/pre-payment, in full or part, of certain borrowings. | ₹158.00 |
| Funding working capital requirements. | ₹38.00 |
| General Corporate Purposes. |
Shankesh Jewellers IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Shanti Gold International Limited | 10.04 |
| 2 | 10 | Sky Gold & Diamonds Limited | 34.86 |
✅Strengths
- The company has delivered strong growth in revenue and profitability over the last three financial years.
- Its asset-light model allows manufacturing to be outsourced while the company focuses on design, sourcing, quality and customer management.
- The company has established relationships with reputed jewellery brands across India.
- Its promoters have extensive experience in the jewellery industry, supporting business operations and growth.
- The company offers a wide range of handcrafted gold jewellery along with customised jewellery solutions.
- It has a PAN-India customer base, with sales across multiple states.
⚠️Risks
- The company is dependent on third-party jobworkers and skilled Karigars for jewellery manufacturing.
- A significant portion of revenue comes from key customers and specific geographical regions, creating concentration risk.
- Fluctuations in gold prices can affect working capital requirements and customer demand.
- Jewellery is a discretionary purchase, so weaker consumer spending or adverse economic conditions may reduce demand.
- Quality issues or product rejections could result in returns, additional costs and loss of customers.
- The company is dependent on promoters and key personnel for business strategy, operations and growth.
- Handling high-value gold jewellery creates inventory, transit and security risks.
Shankesh Jewellers IPO Promoter Holding
| Pre-Issue Share Holding | 95.48% |
| Post Issue Share Holding | 69.53% |
Shankesh Jewellers IPO Prospectus
Company Contact Information
| Shankesh Jewellers Limited Office No. 12, 3rd Floor, 101 Mumbadevi Diamond Premises Co- Op, Society Ltd, Zaveri Bazar, Mumbai, Maharashtra, 400002 Phone: +91 22234700089 Email: cs@shankeshjewellers.com Website: https://www.shankeshjewellers.com/ |
Shankesh Jewellers IPO Registrar
| Kfin Technologies Ltd. Phone: 040-79615565 Email: shankesh.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
Shankesh Jewellers IPO Lead Manager(s)
| 1. Aryaman Financial Services Limited 2. Smart Horizon Capital Advisors Private Limited |
Shankesh Jewellers IPO FAQs
| What is the Shankesh Jewellers IPO? Shankesh Jewellers IPO is a main-board IPO. The issue is priced at ₹88 to ₹93 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the Shankesh Jewellers IPO open? The IPO is to open on 18 August 2026 for QIB, NII, and Retail Investors. |
| What is Shankesh Jewellers IPO investors’ portion? The investors’ portion is QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Shankesh Jewellers IPO Size? Shankesh Jewellers IPO size is ₹367.18 Crore. |
| What are the Shankesh Jewellers IPO Minimum and maximum lot sizes for Retail? The minimum bid is 160 Shares with ₹14,880, while the maximum bid is 2080 Shares with ₹1,93,440. |
| What is the Shankesh Jewellers IPO Allotment Date? Shankesh Jewellers IPO allotment date is 21 August 2026. |
| What is the Shankesh Jewellers IPO Listing Date? Shankesh Jewellers IPO listing date is 25 August 2026. The IPO is to be listed on the BSE and the NSE. |
