- IPO opens August 18; price band fixed at ₹88–₹93 per share
- Anchor bidding on August 17; issue closes on August 20
- Fresh issue of up to 2.95 crore shares; OFS comprises up to 1 crore shares
- Proceeds to fund debt repayment, working capital and general corporate purposes
- Three-decade legacy in handcrafted gold jewellery with pan-India B2B clientele
NE BUSINESS BUREAU
AHMEDABAD, AUG 11
From three decades of handcrafted gold jewellery to the glare of the capital market, Shankesh Jewellers is now preparing to turn its B2B growth story into an IPO opportunity. The Mumbai-headquartered jewellery company will open its ₹367-crore Initial Public Offering (IPO) on August 18, putting its expanding revenues, established B2B customer base and handcrafted jewellery franchise before investors.
Shankesh Jewellers Limited has fixed the IPO price band at ₹88 to ₹93 per equity share of face value ₹5 each. The three-day public issue will open on Tuesday, August 18, 2026, and close on Thursday, August 20, while the Anchor Investor bidding date is August 17.
At the upper end of the price band, the company is valued at around ₹1,367 crore. Investors can bid for a minimum of 160 equity shares and in multiples of 160 shares thereafter.
Fresh capital plus OFS
The IPO comprises a fresh issue of up to 29,482,000 equity shares, aggregating up to ₹259.4 crore, and an Offer for Sale (OFS) of up to 10,000,000 equity shares, aggregating up to ₹88 crore.
The OFS will be offered by promoter selling shareholders Kantilal Kheemraj Jain and Manoj Kantilal Jain.
Funds raised through the fresh issue are proposed to be deployed towards repayment or pre-payment of borrowings, working capital requirements and general corporate purposes, giving the issue a mix of balance-sheet strengthening and growth-supporting objectives.
A three-decade B2B jewellery franchise
Shankesh Jewellers is a Mumbai-headquartered B2B jewellery company engaged in handcrafted gold jewellery and customisation services for clients across India. With a legacy spanning more than three decades, the company operates as a principal contractor across design and inventory management, with finished jewellery delivered directly to customers.
Its pan-India B2B customer base includes established jewellery players such as Joyalukkas, P. N. Gadgil & Sons, Kalyan Jewellers, P N Gadgil Jewellers, Manoj Vaibhav Gems ‘N’ Jewellers, Novel Jewels (Aditya Birla Group), Bhima Jewellery Madurai, Hari Prasad Gopi Krishna Saraf, D.P. Abhushan, Vysyaraju Jewellers, Gajaananda Jewellery Mart, Arundhati Jewellers, Verma Jewellers and Sham Jewellers, among others.
The company relies on third-party job workers for production and manufacturing while retaining its focus on design, inventory management and customer delivery.
Revenue sparkle gathers pace
The company’s financial trajectory provides another key talking point for investors. Revenue from operations climbed from ₹1,061.78 crore in FY24 to ₹1,403.83 crore in FY25, before rising further to ₹1,630.70 crore in FY26.
The company catered to 448 customers in FY24, 457 in FY25 and 418 in FY26. Revenue growth stood at 32.21% in FY25 and 16.17% in FY26, according to the issue material.
The company said it has consistently reported growth in revenue from operations along with profitability, underlining the expansion of its B2B jewellery business.
Institutional investors get 50% reservation
The IPO has earmarked 50% of the offer for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs) and 35% for retail investors.
The equity shares are proposed to be listed on both BSE and NSE on August 25, 2026.
Aryaman Financial Services and Smart Horizon Capital Advisors are the Book Running Lead Managers, while KFin Technologies is the registrar to the issue.
