Shankesh Jewellers is a Mumbai‑based B2B manufacturer of handcrafted gold jewellery. It plans to raise almost Rs 370 crore through its first public issue on August 18. The offer will be the second mainboard listing next week, after Lalithaa Jewellery Mart.
The IPO will consist of 3.94 crore equity shares, of which 2.94 crore are new shares and 1 crore are being sold by promoters. The selling shareholders are Kantilal Kheemraj Jain and his son Manoj Kantilal Jain.
The company has earmarked 50% of the shares for qualified institutional buyers, 35% for retail investors and 15% for other non‑institutional investors. The price band will be revealed on August 11.
Book building will start on August 17 and the public offer will close on August 20. Shares are expected to be allotted by August 21 and listed on the stock exchanges on August 25.
Shankesh Jewellers makes 22‑karat and 18‑karat gold jewellery through third‑party workers for clients such as Joyalukkas India, P N Gadgil & Sons, Kalyan Jewellers India, P N Gadgil Jewellers, Manoj Vaibhav Gems ‘N’ Jewellers, and Novel Jewels of the Aditya Birla Group.
The company plans to use Rs 158 crore of the fresh issue proceeds to repay loans, Rs 38 crore for working capital and the rest for general corporate purposes. Its working capital facilities were Rs 167 crore and outstanding borrowings Rs 162.94 crore as of June 2026.
After the IPO, Shankesh Jewellers will see a significant reduction in debt. The firm posted a profit of Rs 106.7 crore for the year ended March 2026, a 164.6% rise from Rs 40.3 crore the previous year. Revenue grew 16.2% to Rs 1,630.8 crore from Rs 1,403.8 crore.
Aryaman Financial Services and Smart Horizon Capital Advisors are the merchant bankers handling the IPO.