The IPO proceeds will be used to fuel the company’s growth and for brand-building purposes, besides meeting working capital requirements
Mumbai: Shankesh Jewellers Limited will open its Initial Public Offering (IPO) of approximately Rs 367.2 crore for subscription on Tuesday, August 18, 2026. The anchor investor bidding will take place on Monday, August 17, while the offer will close on Thursday, August 20, 2026. The price band has been fixed at Rs 88 to Rs 93 per equity share of face value Rs 5 each. Investors can bid for a minimum of 160 equity shares and in multiples of 160 equity shares thereafter.
The offer comprises a fresh issue of up to 29,482,000 equity shares aggregating up to Rs 274.2 crore and an offer for sale (OFS) of up to 10,000,000 equity shares aggregating up to Rs 93 crore. The OFS comprises up to 48,00,000 equity shares offered by Kantilal Kheemraj Jain and up to 52,00,000 equity shares offered by Manoj Kantilal Jain, collectively referred to as the Promoter Selling Shareholders.
Mahavir Jain, Whole Time Director, Shankesh Jewellers Limited, said, “The IPO is the next step in taking Shankesh Jewellers to a different scale. The capital raised will support our growth, while the public listing will strengthen our recognition across the industry. It will help us in brand building and image building, while enabling us to expand the business and take Shankesh Jewellers to a new level. The IPO will also support our working capital requirements.”
Shankesh Jewellers is a Mumbai-headquartered B2B jewellery company engaged in handcrafted gold jewellery and customization services for clients across India. The company operates as a principal contractor across design and inventory management, with finished jewellery delivered directly to its clients.
The company has been involved in handmade jewellery for over three decades and serves a pan-India B2B customer base comprising corporate and non-corporate jewellery players. Its clientele includes 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 Pvt Ltd, D.P. Abhushan, Vysyaraju Jewellers, Gajaananda Jewellery Mart, Arundhati Jewellers, Verma Jewellers and Sham Jewellers, among others.
The company caters to jewellery retailers through its B2B model, providing services covering design and inventory management. Its model allows it to work with both corporate and non-corporate jewellery businesses across different markets in India.
Shankesh Jewellers has reported growth in revenue from operations along with profitability during recent years. Revenue from operations stood at Rs 1,630.7 crore in fiscal 2026, compared with Rs 1,403.8 crore in fiscal 2025 and Rs 1,061.7 crore in fiscal 2024. The company recorded year-on-year revenue growth of 16.17% in fiscal 2026 and 32.21% in fiscal 2025.
Founded in 1987 by Kantilal Jain, Shankesh Jewellers is a manufacturer and wholesaler specializing in handcrafted 22-karat and 18-karat gold jewelry. Headquartered in Zaveri Bazar, the company offers customized designs, including bridal wear, chokers and bangles.
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