Shankesh Jewellers Shares List at 11.08% Premium on NSE

Shankesh Jewellers shares made a positive debut on the Indian stock market on Tuesday, 25 August 2026. The stock listed at ₹103.30 per share on the National Stock Exchange (NSE), representing a premium of 11.08% over its IPO issue price of ₹93.

On the BSE, Shankesh Jewellers shares opened at ₹102.20 per share, a premium of around 9.89% over the issue price.

The listing followed a relatively measured response to the ₹367 crore IPO, which was subscribed 2.80 times overall on the final day of bidding.

Shankesh Jewellers IPO Listing Details

Shankesh Jewellers launched its IPO with a price band of ₹88 to ₹93 per equity share. At the upper end of the price band, the issue size was approximately ₹367 crore.

The IPO opened for public subscription on 18 August 2026 and closed on 20 August 2026.

According to NSE data, the issue received bids for 7,74,38,400 equity shares against 2,76,37,400 shares available for subscription, resulting in an overall subscription of 2.80 times.

Investor category-wise subscription stood at:

• Non-Institutional Investors (NII): 5.68 times
• Retail Investors: 2.42 times
• Qualified Institutional Buyers (QIB): 1.32 times
• Overall Subscription: 2.80 times

First-Day Trading Performance

NSE Listing Price: Shankesh Jewellers share price debuted at ₹103.30 per share on the NSE, representing a premium of 11.08% over the IPO issue price of ₹93.

BSE Listing Price: The stock opened at ₹102.20 per share on the BSE, representing a premium of approximately 9.89% over the issue price.

At the NSE listing price, the stock opened ₹10.30 above its issue price, while on the BSE it debuted ₹9.20 higher.

The positive listing came despite comparatively moderate overall subscription of 2.80 times during the IPO bidding period.

Growth Drivers and Challenges

Growth Drivers

Positive Listing Performance: Shares debuted at an 11.08% premium on the NSE, providing a positive start to trading.

Strong NII Participation: The non-institutional investor portion was subscribed 5.68 times, leading demand among investor categories.

Anchor Investor Participation: The company raised ₹110.15 crore from anchor investors before the IPO opened for public subscription.

Debt Reduction Plans: Part of the fresh issue proceeds is intended for repayment or pre-payment of existing borrowings.

Working Capital Funding: IPO proceeds will also be deployed towards supporting the company's working capital requirements.

Challenges

Moderate Overall Subscription: The IPO was subscribed 2.80 times overall, indicating relatively measured investor participation.

Limited QIB Demand: The qualified institutional buyer portion was subscribed 1.32 times during the offer period.

Working Capital Requirements: The jewellery wholesale business requires ongoing funding to maintain inventory and support operations.

Post-Listing Volatility: Share prices may fluctuate after listing depending on market conditions and investor sentiment.

Borrowing Dependence: The planned use of proceeds for debt repayment indicates existing financing requirements within the business.

Utilisation of IPO Proceeds

Shankesh Jewellers plans to utilise the proceeds from the fresh issue primarily towards:

• Repayment or pre-payment of certain borrowings
• Funding working capital requirements
• General corporate purposes

The IPO comprised a fresh issue of up to 2.95 crore equity shares and an offer-for-sale of up to 1 crore equity shares.

Proceeds from the fresh issue will accrue to the company for its stated objectives, while proceeds from the offer-for-sale component will go to the selling shareholders.

Anchor Investor Details

Ahead of the public issue, Shankesh Jewellers raised ₹110.15 crore from anchor investors.

The company allotted more than 1.18 crore equity shares to 14 anchor investors at ₹93 per share, the upper end of the IPO price band.

Anchor investors included Tiger Strategies Fund-I, Necta Bloom VCC, Venus Investment VCC, Zeal Global Opportunities Fund, ASAS Global Fund and Uni Growth Fund.

According to the disclosed anchor allocation, there was no allocation to domestic mutual funds, life insurance companies or pension funds.

Business and IPO Overview

Shankesh Jewellers is a Mumbai-based jewellery wholesaler. The company entered the public markets through an IPO comprising a fresh issue of up to 2.95 crore equity shares and an offer-for-sale of up to 1 crore equity shares.

The IPO price band was fixed at ₹88 to ₹93 per share. At the upper end of the band, the issue size was approximately ₹367 crore and the company was valued at around ₹1,367 crore.

The IPO received bids for 7,74,38,400 equity shares against 2,76,37,400 shares on offer and was subscribed 2.80 times overall. Non-institutional investors subscribed their portion 5.68 times, retail investors 2.42 times and qualified institutional buyers 1.32 times.

Shankesh Jewellers made a positive stock market debut on 25 August 2026, listing at ₹103.30 on the NSE and ₹102.20 on the BSE against its IPO issue price of ₹93. This translated into listing premiums of 11.08% and 9.89%, respectively.

The company intends to use fresh issue proceeds towards repayment or pre-payment of borrowings, working capital requirements and general corporate purposes.