Q2. Why is the company raising funds via IPO?

Shankesh Jewellers is raising funds via IPO to repay existing debt, meet working capital needs, and for general corporate purposes.

Q3. What is the issue size of the IPO and where will it list?

The issue of IPO comprises 40,000,000 equity shares and is proposed to list on the BSE and NSE platform.

Q4. What are the risks to an investor?

Key risks include high working capital needs, gold price volatility, intense industry competition, geographic concentration in Mumbai, and high pre-IPO debt levels.

Q5. What are the potential upsides?

Potential upsides include robust profit growth, an efficient asset-light model, a prestigious corporate client base, and a vast pan-India distribution network.

Q6. How to apply for the IPO?

You can apply for the IPO through your broker or bank’s ASBA/UPI facility during the subscription window once announced.

Shankesh Jewellers Limited

Upcoming

Shankesh Jewellers Limited

Market Cap

—

IPO Issue Size

Up to 40,000,000 Equity

Expected Price by IPOCorner

—

IPO Score

*Score varies on actual price

Shankesh Jewellers Limited is a prominent Mumbai-based B2B wholesaler specializing in handcrafted 22-karat and 18-karat gold jewellery. Operating from Zaveri Bazar, the company employs an efficient asset-light model, partnering with skilled karigars to produce antique, temple, and bridal collections. It serves a prestigious clientele, including Joyalukkas, Kalyan Jewellers, and P.N. Gadgil.

The company has proposed an Initial Public Offering (IPO) of up to 40,000,000 Equity Shares of face value of ₹5 each, comprising a fresh issue of 30,000,000 shares and an offer for sale (OFS) of 10,000,000 shares, aggregating up to ₹ [●] million. This capital will fund debt repayment and working capital, reflecting its robust growth and ₹1,400 crore revenue in FY25.

The Managing Director of Shankesh Jewellers Limited is Manoj Kantilal Jain

Shankesh Jewellers manufactures and wholesales handcrafted 22k and 18k gold jewellery, featuring temple, antique, and bridal collections. They also provide customized job work for major retailers.Operating primarily as a B2B wholesaler, Shankesh Jewellers leverages an asset-light model with a presence across 21 states and 4 union territories. They reach major retailers like Joyalukkas and Kalyan Jewellers via their Zaveri Bazar hub and global export channels.

Subscription date to apply for Shankesh Jewellers Limited is yet to be announced. Price band for the IPO is yet to be declared.

Up to 40,000,000 Equity

Fresh Issue

Up to 30,000,000 Equity

Offer for Sale

Up to 10,000,000 Equity

Year	2025
Networth	₹ 100.60 Cr
Revenue	₹ 1403.8 Cr
EBITDA	₹ 65.45 Cr
PAT	₹ 40.31 Cr
EBITDA Margin	~4.66%
PAT Margin	~2.87%
Face Value	Rs.05 per Equity Share

IPO Important Dates

#	Date
Open Date	TBA
Close Date	TBA
Anchor Investor Bidding	TBA
Allotment Date	TBA
Refunds& Demat Credit	TBA
Tentative Listing Date	TBA

Use Of Proceeds

Purpose	Amount
Borrowing payment	~ ₹ 158 Cr
Working Capital Requirement	~ ₹ 38 Cr
-	-
-	-
-	-
-	-

Financial Data

#	2023	2024	2025
Revenue (₹ Cr)	909.19	1061.78	1403.82
PAT (₹ Cr)	10.44	12.82	40.31
Asset (₹ Cr)	174.34	177.07	249.56
Net Worth (₹ Cr)	47.52	60.29	100.6

IPO Grey Market Premium

Date	IPO Price	IPO GMP	Profit Per Lot
23-Aug	₹ –	₹ –	₹ –
22-Aug	₹ –	₹ –	₹ –
21-Aug	₹ –	₹ –	₹ –
20-Aug	₹ –	₹ –	₹ –
19-Aug	₹ –	₹ –	₹ –

Pros

Net profit surged over 200% between FY24 and FY25.
Low capital expenditure requirements due to outsourcing crafting to karigars.
Trusted B2B supplier for major brands like Kalyan and Joyalukkas.
Established sales presence across 21 states and 4 union territories.
Promoters possess over three decades of expertise in handcrafted jewellery.

Cons

Business requires significant cash flow for gold inventory and operations.
Fluctuations in market prices directly impact margins and consumer demand.
A large portion of business is still centered around Zaveri Bazar.
Faces stiff rivalry from both organized giants and local unorganized players.
Currently maintains a debt-to-equity ratio of 1.44 before IPO proceeds.

Promoters – Pre offer equity (Approx)

Promoters	% Shares
Manoj Kantilal Jain	~26.69%
Kantilal Kheemraj Jain	~24.72%
Mahavir Kantilal Jain	~22.84%
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-	-
-	-

Lot Size details

Application Type	Lot Size	No. of Lot	No. of Shares	Investment Amount
Retail (Min)	–	1	–	₹ –
Retail (Max)	–	13	–	₹ –
HNI (Min)	–	14	–	₹ –
HNI (Max)	–	66	–	₹ –
Big HNI (Min)	–	67	–	₹ –

Key Performance Index (KPI)

ROE	00
ROCE	00
RoNW	00

Lead / Book Running Lead Managers

Aryaman Financial Services Limited ,Smart Horizon Capital Advisors Private Limited

Registrar (RTA)

KFin Technologies Limited.

Q1. What is the business of Shankesh Jewellers Limited?
It manufactures and wholesales handcrafted 22k and 18k gold jewellery, featuring antique and temple designs.
Q2. Why is the company raising funds via IPO?
Shankesh Jewellers is raising funds via IPO to repay existing debt, meet working capital needs, and for general corporate purposes.
Q3. What is the issue size of the IPO and where will it list?
The issue of IPO comprises 40,000,000 equity shares and is proposed to list on the BSE and NSE platform.
Q4. What are the risks to an investor?
Key risks include high working capital needs, gold price volatility, intense industry competition, geographic concentration in Mumbai, and high pre-IPO debt levels.
Q5. What are the potential upsides?
Potential upsides include robust profit growth, an efficient asset-light model, a prestigious corporate client base, and a vast pan-India distribution network.
Q6. How to apply for the IPO?
You can apply for the IPO through your broker or bank’s ASBA/UPI facility during the subscription window once announced.