How to Check Shankesh Jewellers IPO Allotment Status

Shankesh Jewellers Limited is a Mumbai-based jewellery company engaged in the business of handcrafted gold jewellery and customised jewellery products. Incorporated in 2005, the company primarily operates in the business-to-business (B2B) jewellery segment.  

The company offers customised jewellery based on client requirements and relies on third-party job workers and karigars for manufacturing and production, supporting an asset-light operating model.  

Its operations are based in Zaveri Bazar, Mumbai, one of India's established jewellery trading hubs. The company's promoters include Kantilal Kheemraj Jain, Mahavir Kantilal Jain and Manoj Kantilal Jain.  

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Shankesh Jewellers IPO is a ₹367.18 crore book-built mainboard issue. The offer comprises a fresh issue of ₹274.18 crore and an offer for sale of ₹93 crore by existing shareholders.  

The IPO opened for subscription on August 18, 2026 and closed on August 20, 2026. The basis of allotment is expected to be finalised on August 21, 2026, while the shares are tentatively scheduled to list on BSE and NSE on August 25, 2026.  

The price band was fixed at ₹88 to ₹93 per share, with a lot size of 160 shares. Aryaman Financial Services Limited and Smart Horizon Capital Advisors Private Limited are the book-running lead managers, while KFin Technologies Limited is the registrar.  

Registrar:  Kfin Technologies Ltd 

BSE: BSE IPO Allotment Status Page 

NSE: NSE IPO Allotment Status Page 

Shankesh Jewellers IPO Subscription Status 

Shankesh Jewellers IPO was subscribed 2.80 times on August 20, 2026, based on the final subscription data provided. The issue received bids for around 7.74 crore shares against 2.76 crore shares available, according to NSE data reported after bidding closed.

The NII category recorded the strongest demand, reaching 5.68 times subscription on the final day. 

Retail Investors subscribed 2.42 times, after the category had already crossed full subscription at 1.08 times on Day 2. 

Overall subscription increased from 0.36 times on Day 1 to 0.91 times on Day 2, before closing at 2.80 times on Day 3. The final-day demand was led primarily by NIIs, helping the IPO move comfortably past full subscription. The overall 2.80 times figure is also reflected in final-day NSE data reported by The Economic Times.  

Shankesh Jewellers IPO Share Price and Investment Details 

Shankesh Jewellers IPO price band was fixed at ₹88 to ₹93 per share, with a minimum lot size of 160 shares. At the upper end of the price band, the minimum retail investment for one lot works out to ₹14,880.  

The total issue size is ₹367.18 crore, comprising a fresh issue of ₹274.18 crore and an OFS of ₹93 crore. The shares are proposed to list on both BSE and NSE.  

The final subscription profile was relatively moderate compared with some heavily oversubscribed IPOs. NII demand was strongest at 5.68 times, followed by Retail at 2.42 times and QIBs at 1.32 times, taking overall subscription to 2.80 times. 

The allotment is expected to be finalised on August 21, followed by refunds and credit of shares before the proposed August 25 listing.  

Utilisation of IPO Proceeds 

Shankesh Jewellers proposes to utilise ₹158 crore from the fresh issue proceeds towards repayment or prepayment, in full or part, of certain borrowings availed by the company.  

Another ₹38 crore is proposed to be deployed towards funding the company's working capital requirements, while the remaining eligible proceeds will be used for general corporate purposes.  

The identified utilisation does not include a major capital expenditure programme, which is consistent with the company's asset-light production model and its reliance on third-party karigars for jewellery manufacturing.  

Since the IPO also includes a ₹93 crore offer-for-sale component, Shankesh Jewellers will not receive the proceeds attributable to the shares sold by existing shareholders.  

Business Overview 

Shankesh Jewellers operates in India's gems and jewellery industry, with its business focused primarily on handcrafted gold jewellery and customised products for B2B customers.  

The company follows an asset-light manufacturing model, outsourcing production to third-party job workers and karigars instead of maintaining significant owned manufacturing infrastructure. This allows it to focus its resources on jewellery design, customisation, sourcing, customer relationships and distribution.  

Shankesh Jewellers reported total income of ₹1,630.93 crore in FY26, compared with ₹1,403.94 crore in FY25 and ₹1,061.91 crore in FY24. Profit after tax increased to ₹106.68 crore in FY26, from ₹40.31 crore in FY25 and ₹12.82 crore in FY24.  

Its EBITDA increased from ₹28.60 crore in FY24 to ₹65.35 crore in FY25 and ₹157.90 crore in FY26. Total borrowings stood at ₹167.30 crore as of March 31, 2026, part of which the company proposes to repay using the IPO proceeds.  

Key strengths include its established presence in handcrafted gold jewellery, B2B-focused business model, customised product capabilities, asset-light manufacturing structure and recent growth in revenue and profitability. 

Investors should also consider risks associated with fluctuations in gold prices, dependence on third-party job workers and karigars, substantial working-capital requirements, competition in the fragmented jewellery market, customer concentration, changes in consumer preferences and regulatory requirements governing the gems and jewellery industry