Shankesh Jewellers IPO
Shankesh Jewellers IPO is a mainboard IPO raising ₹367 Cr at ₹88 – ₹93 a share. It listed on 25 Aug 2026 at ₹103, +11.1% against its issue price of ₹93, and trades at ₹91 today (−2.6% since issue). It was subscribed 2.80× in total.
2.8 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs93. Checked: exchange issue size Rs367 Cr vs derived Rs367.2 Cr (0.1% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 55% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Shanti Gold International Limited | 10.04× | 23.42% | ₹21.22 |
| Sky Gold & Diamonds Limited | 34.86× | 23.37% | ₹18.06 |
| This issue | 10.2× | 50.94% | ₹9.09 |
derived: cut-off price Rs93 / stated EPS Rs9.09 (FY2026 (year ended March 31, 2026) diluted EPS, restated consolidated). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.