Mumbai-based Shankesh Jewellers is set to debut in the primary market with a ₹367.18 crore offering, riding on sharp revenue growth and an upscale market cap, offering a fresh look at the customised gold jewellery sector.
Shankesh Jewellers Limited is set to enter the primary market with a ₹367.18 crore initial public offering that opens on August 18, 2026 and closes on August 20, 2026. The jewellery maker plans to list on the BSE and NSE on a tentative basis on August 25, 2026, with shares offered in a price band of ₹88 to ₹93 apiece. At the top end of the range, the issue implies a market capitalisation of about ₹1,367 crore.
The offering combines a fresh issue of 2.95 crore shares worth ₹274.18 crore with an offer for sale of 1 crore shares valued at ₹93 crore. Retail investors will need to apply for at least 160 shares, requiring ₹14,880 at the upper price band. Larger bids start at 2,240 shares for small non-institutional investors and 10,880 shares for big non-institutional investors. KFin Technologies is the registrar.
The Mumbai-based company, incorporated in July 2005, focuses on custom-made handcrafted gold jewellery, particularly in 22-karat and 18-karat pieces. Its line-up includes bangles, bridal sets, chokers, jhumkas, necklace sets, mangalsutras and rings, with styles spanning antique, semi-antique, Calcutta, temple and gheru polish designs. The business uses an asset-light model, relying on local karigars and job workers while keeping design, sourcing and delivery in-house. According to the company’s investor material, its clients include Joyalukkas India, P. N. Gadgil & Sons, Kalyan Jewellers, Novel Jewels and Manoj Vaibhav Gems ‘N’ Jewellers.
The company’s latest reported numbers point to sharp growth, though from a relatively modest base. Revenue rose to ₹1,630.93 crore in the year ended March 31, 2026 from ₹1,403.94 crore a year earlier, while profit after tax climbed to ₹106.68 crore from ₹40.31 crore. EBITDA also increased to ₹157.90 crore from ₹65.35 crore. The balance sheet shows assets of ₹403.76 crore and borrowings of ₹167.30 crore as of March 31, 2026. Stock market and corporate database sites describe Shankesh Jewellers as an active public company based in Mumbai, and IPO tracking services say the Securities and Exchange Board of India has already issued observations on the draft papers, clearing the way for the launch.
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