Shankesh Jewellers IPO GMP, Share Price And Latest Updates
The Shankesh Jewellers IPO hit the primary market on August 18, 2026, and closed on August 20 with strong demand from investors . The Shankesh Jewellers IPO GMP share price saw notable movement throughout the bidding window.
The issue was eventually subscribed 1.27 times by the final day of bidding . Investors who tracked the Shankesh Jewellers IPO GMP witnessed a rise in the grey market premium, signalling moderate listing expectations .
IPO Details and Price Band
The company set a price band of ₹88 to ₹93 per equity share for the Shankesh Jewellers IPO GMP share price valuation . The issue size was ₹367.18 crore, comprising a fresh issue of 2.95 crore shares worth ₹274.18 crore and an offer for sale (OFS) of 1 crore shares aggregating to ₹93 crore .
Read Also: Lenskart IPO GMP Today: Latest Grey Market Premium, Price, and Listing Updates
The lot size was fixed at 160 shares, which meant retail investors needed to invest a minimum of ₹14,880 at the upper price band. The company was valued at approximately ₹1,367 crore at the upper end of the price band . The face value of each share is ₹5 .
Subscription Status
The Shankesh Jewellers IPO GMP share price subscription journey was steady. On the first day of bidding, the overall subscription stood at 36% .
The retail portion saw the strongest demand at 53%, while the Non-Institutional Investors (NIIs) segment was subscribed 38%, and the Qualified Institutional Buyers (QIBs) portion was at a muted 3% .
By the second day, the total subscription improved to 0.94 times . The issue was eventually fully subscribed on the third and final day, receiving bids for 3,50,75,040 equity shares against 2,76,37,400 shares offered.
Retail investors were the biggest contributors, with their portion subscribed 1.5 times, while the NII category was subscribed 1.06 times .
Grey Market Premium (GMP) Movement
The Shankesh Jewellers IPO GMP share price showed fluctuation throughout the bidding period. On Day 1, the grey market premium stood at around ₹5, suggesting a listing price of approximately ₹98, or a potential 5.38% gain . By Day 2, the GMP remained at ₹5, indicating a similar listing price expectation of ₹98 .
You Must Also Like: ITR Filing Deadline AY 2026-27: Staggered Dates Announced - Check July 31 And Aug 31 Deadlines!
On the final day of bidding (August 20), the GMP eased to ₹2.5, indicating an estimated listing price of around ₹95.5, or a potential 2.69% premium over the upper price band .
Some platforms reported even lower figures. Investorgain reported a GMP of ₹2.5, while IPO Watch reported ₹2 . This means the Shankesh Jewellers IPO GMP share price suggests only modest listing gains.
Note on GMP: The grey market premium is an unofficial and highly volatile indicator and does not guarantee the actual listing price or returns. Investors should use it only as a reference .
Financial Performance
The company delivered strong financial growth in FY26. Total income rose 16% year-on-year from ₹1,403.94 crore in FY25 to ₹1,630.93 crore . Profit after tax (PAT) surged 165% from ₹40.31 crore to ₹106.68 crore . EBITDA increased from ₹65.35 crore to ₹157.90 crore .
Valuation and Brokerage Recommendations
The IPO is valued at approximately 12.8x P/E based on FY26 earnings . Anand Rathi assigned a "Subscribe: Long Term" rating, citing the company's strong financial growth.
Improving profitability, asset-light business model, and established position in the B2B handcrafted gold jewellery segment . According to Anand Rathi, the company is considered fairly priced at the current valuation .
Business Overview
Shankesh Jewellers is a Mumbai-based B2B jewellery company incorporated in 2005 . It manufactures handcrafted 22-karat and 18-karat gold jewellery, including bangles, bridal sets, chokers, jhumkas, and mangalsutras.
The company supplies to major national corporate clients, including Joyalukkas India, P N Gadgil & Sons, Kalyan Jewellers India, and Novel Jewels . It operates an asset-light business model and has an established position in the B2B handcrafted gold jewellery segment.
Key Dates
| Event | Date |
|---|---|
| IPO Opens | August 18, 2026 |
| IPO Closes | August 20, 2026 |
| Allotment Finalization | August 21, 2026 |
| Listing Date | August 25, 2026 |
Should You Apply?
The Shankesh Jewellers IPO GMP share price indicates only modest listing gains, making the issue more suited to investors looking at the company's long-term growth prospects rather than those chasing quick profits .
The company's strong earnings growth, asset-light business model, and established client base are positives, but valuation is an important consideration .
Our Honest Take: The issue is fairly priced but not significantly undervalued. Retail investors should evaluate their own risk profile and long-term investment horizon before applying.
The modest GMP suggests there is little room for blockbuster listing gains. However, the company's solid financial performance and industry position could support gradual growth over time.
