- POSITIVE
Annual Revenue Shankesh Jewellers Mar-2026 Annual Revenue is Rs 1,631 Cr which is growth of 16.2% YoY.
- POSITIVE
Annual Net Profit Shankesh Jewellers Mar-2026 Annual Net Profit is Rs 107 Cr which is growth of 164.6% YoY.
Shankesh Jewellers was incorporated on July 11, 2005. The company specialises in handcrafted gold jewellery and offers customisation services, managing design, material sourcing, and production through local Karigars via jobworkers. Based in Mumbai, it distributes 22K and 18K jewellery across India, including bangles, necklaces, rings, and bridal sets, with BIS-hallmarked quality and options for antique, semi-antique, temple, and modern designs
| Bidding Dates |
|---|
| 18 Aug 2026 - 20 Aug 2026 |
| Subscription |
|---|
| 2.8x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,080 | 1 | 13 | 160 | 39.5 M | ₹88 - ₹93 | 69.53 % | ₹3,474.4 M - ₹3,671.8 M | RHP DOC |
Shankesh Jewellers IPO SUBSCRIPTION STATUS
20 Aug '26Total2.8x
Retail Individual Investor2.42x
HNI (NII) Investors5.68x
Qualified Institutional Buyers1.32x
Shankesh Jewellers IPO overall subscription rate was 2.8 times the total available shares
Shankesh Jewellers IPO retail subscription rate was 2.42 times in the retail segment
Shankesh Jewellers IPO non-institutional investor subscription rate was 5.68 times in the non-institutional investor category
Shankesh Jewellers IPO Qualified Institutional Bidder subscription rate was 1.32 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
20 Aug 2026 (Day 3) | 2.42x | 5.68x | 1.32x |
19 Aug 2026 (Day 2) | 1.13x | 0.76x | 0.76x |
18 Aug 2026 (Day 1) | 0.53x | 0.38x | 0.03x |
Shankesh Jewellers FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 1,630.8 | 106.7 | 0.3 | 0.3 | 9.7% |
| FY25 | 1,403.8 | 40.3 | -23.1 | -23.3 | 4.7% |
| FY24 | 1,061.8 | 12.8 | 1.5 | 1.4 | 2.7% |
Shankesh Jewellers IPO SUBSCRIPTION STATUS DETAILS
Shankesh Jewellers had 39.5 M shares on offer
Shankesh Jewellers IPO offer price was in the range ₹88 - ₹93
Shankesh Jewellers IPO minimum Investment was ₹14080
Shankesh Jewellers IPO issue size was ₹ 3,474.4 M - ₹ 3,671.8 M
Shankesh Jewellers had a minimum lot size of 160 Shares per application
Shankesh Jewellers NUMBER OF SHARES ON OFFER
Total39.5 M
Fresh Issue29.5 M
Offer for Sale10.0 M
Post Issue Promoter Holding %69.53 %
Shankesh Jewellers IPO IMPORTANT DATES
| Issue Open Date | 18 Aug 2026 |
| Issue close Date | 20 Aug 2026 |
| Allotment Date | 21 Aug 2026 |
| Refund Date | 24 Aug 2026 |
| Demat Account Credit Date | 24 Aug 2026 |
| Listing Date | 25 Aug 2026 |
| Listing on Exchange(s) | NSE and BSE |
| Shankesh Jewellers Allotment Status | Exchange/ Registrar |
Shankesh Jewellers IPO subscription opened on 18 Aug 2026, and closed on 20 Aug 2026
IPO allotment for Shankesh Jewellers was finalized on Friday, 21 Aug 2026
IPO listing for Shankesh Jewellers was on NSE and BSE on Tuesday, 25 Aug 2026
Shankesh Jewellers IPO LISTING GAINS
| Issue Price (adjusted) | 93.0 |
| Listing Open Price | 103.3 |
| Listing Close Price | 94.8 |
| Listing Gain% | 11.1% |
| Current Gain% | 3.0% |
Shankesh Jewellers Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shankesh Jewellers Ltd. | 95.7 | 1407.7 | 13.2 | 0.1 | 0.9 | 50.9 | 26.4 | 1630.9 | 16.2 | 106.7 | 164.6 | 7.3 | 164.6 |
| Titan Company Ltd. | 4828.6 | 428676.4 | 74.4 | 1.3 | 4.6 | 32.3 | 8.4 | 88136 | 44.6 | 5073 | 52 | 64.9 | 55.1 |
| Kalyan Jewellers India Ltd. | 544.6 | 56248.8 | 39.2 | 0.5 | 1.4 | 21.4 | 6.5 | 35950.9 | 42.7 | 1350.4 | 88.9 | 13.9 | 79.1 |
| Lalithaa Jewellery Mart Ltd. | 373.6 | 20913.6 | 34.5 | 9.2 | 25039.8 | 48.1 | 1009.8 | 176.9 | |||||
| PC Jeweller Ltd. | 16 | 15741.5 | 17.6 | 0.4 | 4.2 | 8.7 | 7.6 | 3549.6 | 49.7 | 714.5 | 23.7 | 0.9 | 45.9 |
| Sky Gold and Diamonds Ltd. | 969 | 15007.3 | 54.5 | 0.5 | 1.9 | 23 | 12.5 | 6331.3 | 76.8 | 275.3 | 107.5 | 17.8 | 113.7 |
Quarterly
Annual
Balance Sheet
Ratios
Cash Flow
Shankesh Jewellers annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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| Indicator | Graph | Mar '26 | Mar '25 | Mar '24 |
|---|---|---|---|---|
| 1,630.9 | 1,403.9 | 1,061.9 | ||
Operating Exp. Ann. | 1,472.9 | 1,338.5 | 1,033.2 | |
Operating Profit Ann. | 157.9 | 65.4 | 28.6 | |
OPM Ann. % | 9.68% | 4.65% | 2.69% | |
| 1,487.5 | 1,349.9 | 1,044.7 | ||
EBITDA Ann. | 158 | 65.5 | 28.7 | |
EBITDA Ann. margin % | 9.69% | 4.66% | 2.70% | |
Interest Ann. | 13.3 | 10.6 | 10.7 | |
Depr. | 1.3 | 0.8 | 0.8 | |
PBT Ann. | 143.4 | 54 | 17.2 | |
Tax Ann. | 36.7 | 13.7 | 4.4 | |
| 106.7 | 40.3 | 12.8 | ||
Net Profit Ann. | 106.7 | 40.3 | 12.8 | |
NPM Ann. % | 6.54% | 2.87% | 1.20% | |
EPS Adj. latest Ann. | 7.3 | 2.7 | 0.9 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
16.2%
2Y CAGR
23.9%
Net Profit Ann.
1Y CHG
164.8%
2Y CAGR
188.7%
Operating Exp. Ann.
1Y CHG
10%
2Y CAGR
19.4%
Shankesh Jewellers INFORMATION ON IPO ISSUE
About Shankesh Jewellers
Shankesh Jewellers was incorporated on July 11, 2005. The company specialises in handcrafted gold jewellery and offers customisation services, managing design, material sourcing, and production through local Karigars via jobworkers. Based in Mumbai, it distributes 22K and 18K jewellery across India, including bangles, necklaces, rings, and bridal sets, with BIS-hallmarked quality and options for antique, semi-antique, temple, and modern designs
Object of the Issue
- 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
Shankesh Jewellers - PROMOTERS
| Name |
|---|
| Kantilal Kheemraj Jain |
| Mahavir Kantilal Jain |
| Manoj Kantilal Jain |
Shankesh Jewellers - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Kantilal Kheemraj Jain | Chairman & Non-Executive Director |
| Mahavir Kantilal Jain | Whole Time Director |
| Manoj Kantilal Jain | Managing Director |
| Nikhil Ramesh Parmar | Non-Executive Independent Director |
| Sanjay Babulal Jain | Non-Executive Independent Director |
| Sunita Amit Modak | Non-Executive Independent Director |
Shankesh Jewellers Book Running Lead Manager
Aryaman Financial Services Limited
ipo@afsl.co.in
Smart Horizon Capital Advisors Private Limited
investor@shcapl.com
Shankesh Jewellers Registrar to the Offer
KFIN Technologies Limited
shankesh.ipo@kfintech.com
Shankesh Jewellers Strengths
Diverse customer preferences
The company is a wholesale gold jewellery manufacturer, managing design, material sourcing, and production for clients. Manufacturing is largely outsourced to skilled Karigars, ensuring precision, design adherence, and operational efficiency
Strength
Asset-light business model
The company follows an asset-light model, leveraging skilled Karigars to handcraft jewellery for clients, which ensures efficient inventory management, flexibility, and lower capital expenditure. It serves both corporate and non-corporate clients, supplying finished jewellery or executing custom job-work projects as per client specifications
Strength
Quality & customer satisfaction
The company is committed to quality and customer satisfaction, offering BIS Hallmarked gold jewellery crafted to client specifications. Through strict quality checks and a focus on unique designs, it has established itself as a trusted partner for its clients
Strength
Shankesh Jewellers Risks
Security risks
Operating in the high-value gold jewellery sector, the company faces security risks during transit and delivery, including potential theft, loss, or damage, which could impact its finances, reputation, and customer trust
Risk
Dependent on on third-party job workers
The company relies on third-party Jobworkers and Karigars, primarily in Maharashtra, for manufacturing. Any disruption, shortage of skilled workers, or failure to maintain quality standards could negatively impact its business, reputation, and financial condition
Risk
Quality risks
The company’s products are subject to strict quality standards, and any failure to meet these can lead to product returns, order cancellations, loss of customers, or additional costs, adversely affecting business, reputation, and financial performance
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 93.0 crore, of 10,000,000 shares. It also consists of a fresh issue of Rs 274.2 crore.
The promoters of the company are Kantilal Kheemraj Jain, Mahavir Kantilal Jain and Manoj Kantilal Jain.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 88.0 - 93.0.
The IPO application opens on Aug 18, 2026 and closes on Aug 20, 2026.
The minimum lot size for the IPO is 160. The maximum lot size for the IPO is 2080.
For all category investors, the minimum application amount for this IPO is Rs. 14,080.0, the maximum value for this IPO is Rs 193,440.0.
This IPO will be allotted on Aug 21, 2026.
The refund will be credited to your account on Aug 24, 2026.
The allotted shares will be credited to your demat on Aug 24, 2026.
Shankesh Jewellers Ltd.’s shares listed on the stock exchanges on Aug 25, 2026.