Shankesh Jewellers’ stock surged on its listing day, opening above the issue price despite modest subscription levels, signalling investor interest in the custom gold jewellery firm amid a cautious market climate.
Shankesh Jewellers made a firm market debut on Tuesday, 25 August 2026, with its shares opening above the issue price on both exchanges. On the NSE, the stock listed at Rs 103.30, an 11.08 per cent premium to the IPO price of Rs 93, while on the BSE it opened at Rs 102.20, a gain of 9.89 per cent, according to Zee Business.
The listing was stronger than Anil Singhvi had expected. Before debut, the market commentator had pointed to the IPO’s relatively muted response and said the outcome was difficult to judge given the modest issue size and lower investor enthusiasm. He had suggested the shares might have opened near, or only slightly above, the offer price, and advised IPO investors to use a stop-loss below Rs 93 to limit downside risk.
The company’s public offer raised Rs 367.18 crore, combining a fresh issue of 2.95 crore shares worth Rs 274.18 crore with an offer for sale of 1 crore shares worth Rs 93 crore, according to the IPO details published by Indmoney and Moneycontrol. The price band was fixed at Rs 88 to Rs 93 a share, with a minimum application size of 160 shares, or Rs 14,880 at the top end.
Subscription data showed steady but not euphoric demand. By the end of bidding, the issue was subscribed 2.8 times overall, with non-institutional investors driving much of the interest, according to IPO tracking on iPostation and related offer summaries. Moneycontrol also reported grey market indications of a modest premium ahead of listing, suggesting the market had expected a small pop rather than a dramatic rally.
Shankesh Jewellers, incorporated in 2005, makes customised handcrafted gold jewellery, focusing on 22K and 18K pieces. The company works on an asset-light model, outsourcing production to local karigars and job workers, and counts Joyalukkas India, Kalyan Jewellers India and P.N. Gadgil & Sons among its customers. Its financial performance strengthened sharply in fiscal 2026, with total income rising to Rs 1,630.93 crore from Rs 1,403.94 crore and profit after tax increasing to Rs 106.68 crore from Rs 40.31 crore, Zee Business reported.
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