IPO Listed — 25 Aug 2026
Listing Price: ₹103.3
Shankesh Jewellers IPO GMP History | Listing Price ₹103.3 & Kostak Rate
Shankesh Jewellers IPO has been listed on August 25, 2026 at a listing price of ₹103.3, against the issue price of ₹93 — a gain of ₹10.3 (+11.08%). The GMP peaked at ₹8 on 13 August 2026 and reached a low of ₹1 on 21 August 2026. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Shankesh Jewellers IPO raised ₹367.18 Cr. through its IPO at a price band of ₹88 to ₹93 per share, with a lot size of 160 shares. The IPO was open for subscription from 18 Aug 2026 to 20 Aug 2026.
GMP Trend Chart
Day-wise GMP Trend
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 25 Aug 2026 | ₹ 2.75 | 2.96% | ₹ 0 | ₹ 0 | |
| 24 Aug 2026 | ₹ 2.75 | 2.96% | ₹ 0 | ₹ 0 | |
| 23 Aug 2026 | ₹ 2 | 2.15% | ₹ 0 | ₹ 0 | |
| 22 Aug 2026 | ₹ 2 | 2.15% | ₹ 0 | ₹ 0 | |
| 21 Aug 2026 | ₹ 1 | 1.08% | ₹ 0 | ₹ 0 | |
| 20 Aug 2026 | ₹ 5 | 5.38% | ₹ 0 | ₹ 0 | |
| 19 Aug 2026 | ₹ 2.5 | 2.69% | ₹ 0 | ₹ 0 | |
| 18 Aug 2026 | ₹ 5 | 5.38% | ₹ 0 | ₹ 0 | |
| 17 Aug 2026 | ₹ 2 | 2.15% | ₹ 0 | ₹ 0 | |
| 16 Aug 2026 | ₹ 5 | 5.38% | ₹ 0 | ₹ 0 | |
| 15 Aug 2026 | ₹ 6 | 6.45% | ₹ 0 | ₹ 0 | |
| 14 Aug 2026 | ₹ 6 | 6.45% | ₹ 0 | ₹ 0 | |
| 13 Aug 2026 | ₹ 8 | 8.60% | ₹ 0 | ₹ 0 | |
| 12 Aug 2026 | ₹ 7 | 7.53% | ₹ 0 | ₹ 0 |
Shankesh Jewellers IPO Dates
| Event | Date |
|---|---|
| Open Date | 18 Aug, 2026 |
| Close Date | 20 Aug, 2026 |
| Allotment Date | 21 Aug, 2026 |
| Refund Date | 24 Aug, 2026 |
| Credit to Demat | 24 Aug, 2026 |
| Listing Date | 25 Aug, 2026 |
Shankesh Jewellers IPO Actual Listing Price
| Basis | Value |
|---|---|
| Issue Price | ₹93 |
| GMP-Based Estimate (Pre-Listing) | ₹95 (+2.2%) |
| Actual Listing Price | ₹103.3 (+11.08%) |
| Listing Gain / Loss | +₹10.3 per share |
| Listing Date | 25 Aug, 2026 |
Is Shankesh Jewellers IPO GMP Reliable?
Grey market premium for Shankesh Jewellers IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- Cross-check before acting: Review the Shankesh Jewellers IPO full review for a fundamentals-based assessment before making any grey market trades.
Shankesh Jewellers IPO IPO Kostak Rate Explained
The Kostak rate for Shankesh Jewellers IPO was not active during the subscription period, as no grey market premium was established. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not active for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Shankesh Jewellers IPO
The company does not sell to the public directly. It supplies across India to other jewellers, including well known names such as Joyalukkas, P. N. Gadgil & Sons, Kalyan Jewellers, Novel Jewels of the Aditya Birla Group and Manoj Vaibhav Gems N Jewellers. It also does job work, where the client gives the gold and the design and the company only makes the jewellery for a charge.
The company follows an asset light model. It gives the making work to skilled local karigars and jobworkers, and keeps design, gold sourcing, quality check and delivery in its own hands. All jewellery is BIS hallmarked. As on 31 May 2026 the company had 46 permanent employees and worked with 72 jobworkers.
Strengths & Risks
Strengths
- ✓ Profit has grown fast for two years in a row. Profit after tax went from Rs 12.82 crore in FY2024 to Rs 40.31 crore in FY2025 and then to Rs 106.68 crore in FY2026.
- ✓ Sales have also grown steadily, from Rs 1,061.91 crore in FY2024 to Rs 1,403.94 crore in FY2025 and Rs 1,630.93 crore in FY2026.
- ✓ EBITDA improved sharply, from Rs 28.60 crore in FY2024 to Rs 65.35 crore in FY2025 and Rs 157.90 crore in FY2026.
- ✓ The customer list has reputed jewellery brands such as Joyalukkas, Kalyan Jewellers, P. N. Gadgil & Sons and Novel Jewels of the Aditya Birla Group.
- ✓ RoNW was 40.07% in FY2026.
- ✓ The asset light model keeps the fixed cost low. Making work is given to karigars instead of running a large own factory.
- ✓ At the upper band of Rs 93 the post issue P/E is about 12.81 times on an EPS of Rs 7.26.
- ✓ Out of the Rs 367.18 crore issue, Rs 274 crore is fresh money, and Rs 158 crore of it will repay borrowings, which will bring down interest cost.
Risks
- ⚠ Profit grew much faster than sales. In FY2026 income rose only 16% but profit after tax rose 165%. Such a jump in margin may not repeat every year.
- ⚠ PAT margin is only 2.87%. This is a low margin business where most of the sale value is the gold itself.
- ⚠ Borrowing is high against own funds. Total borrowing was Rs 167.30 crore as on 31 March 2026 against a net worth of Rs 209.43 crore.
- ⚠ The company depends on outside karigars. It has only 46 permanent employees and works with 72 jobworkers, so production is not fully in its own control.
- ⚠ Sales depend on a small number of large jewellery houses. If one or two big clients cut orders, the effect will be felt immediately.
- ⚠ Job work is a service with a fixed making charge and gives lower margin than selling own jewellery.
- ⚠ Rs 93.18 crore of the issue is an offer for sale and that amount will not come to the company.
- ⚠ Gold price movement affects both working capital need and customer ordering.
Frequently Asked Questions about Shankesh Jewellers IPO
What is the GMP of Shankesh Jewellers IPO?
The current Grey Market Premium (GMP) of Shankesh Jewellers IPO is ₹ 2.75.
What is the Kostak Price of Shankesh Jewellers IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Shankesh Jewellers IPO is currently not available.
What is the Subject to Sauda Price of Shankesh Jewellers IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is currently not available.
What was the actual listing price of Shankesh Jewellers IPO?
Shankesh Jewellers IPO listed on August 25, 2026 at ₹103.3, against the issue price of ₹93 — a gain of +11.08%.
How did the GMP of Shankesh Jewellers IPO trend before listing?
The GMP of Shankesh Jewellers IPO was stable in its final days before listing. The GMP peaked at ₹8 on 13 August 2026. View the day-wise table above for the complete GMP history.
Explore Shankesh Jewellers IPO Further
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