The initial public offering (IPO) for Mumbai-based Shankesh Jewellers, a manufacturer of customised handcrafted gold jewellery, concluded its bidding period on August 20. The company offered shares in a price band of Rs 88-93 apiece, aiming to raise approximately Rs 367 crore, which included a fresh issue of Rs 274 crore and an offer-for-sale of Rs 93 crore.
Subscription Details and Investor Response
During the three-day subscription window from August 18 to August 20, the Shankesh Jewellers IPO received a total subscription of 2.80 times. This included significant interest from various investor categories. The Qualified Institutional Buyers (QIB) portion was subscribed 1.32 times, while the Non-Institutional Investors (NII) segment saw a robust subscription of 5.68 times. Retail individual investors also showed considerable demand, with their portion being booked 2.42 times. Overall, the issue attracted over 1.68 lakh applications, valuing bids at approximately Rs 720 crore.
Grey Market Premium (GMP) and Listing Expectations
Following the moderate subscription response, the Grey Market Premium (GMP) for Shankesh Jewellers has remained modest. The stock was last seen commanding a GMP of Rs 3-5 per share, suggesting a potential listing premium of about 4-6 percent over the upper end of the issue price. It is important to note that GMP is an unofficial indicator and does not guarantee listing gains.
Company Profile: Shankesh Jewellers
Incorporated in 2005, Shankesh Jewellers specializes in manufacturing and providing bespoke 22-karat and 18-karat gold jewellery. Their extensive product portfolio includes bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings, and combined sets, catering to diverse customer preferences.
Key Dates: Allotment, Refunds, and Listing
- The basis of allotment for Shankesh Jewellers shares is expected to be finalized on Friday, August 20.
- Applicants are likely to receive messages, alerts, or emails regarding allotment and fund debits by Friday or over the weekend.
- Refunds for unsuccessful bidders are scheduled for Monday, August 24, or over the weekend.
- Shares of Shankesh Jewellers are slated for listing on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Tuesday, August 25.
How to Check Shankesh Jewellers IPO Allotment Status
Investors who applied for the Shankesh Jewellers IPO can check their allotment status through the following methods:
1. Via BSE Website:
- Visit the official BSE website: https://www.bseindia.com/investors/appli_check.aspx
- Under the 'Issue Type' section, select 'Equity'.
- From the 'Issue Name' dropdown menu, choose 'Shankesh Jewellers Limited'.
- Enter your application number.
- Input your PAN card ID.
- Complete the 'I am not a Robot' captcha and click 'Search'.
2. Via NSE Website:
- Go to the NSE website for IPO bid details: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
- Select 'Equity & SME IPO Bid details'.
- Under 'Select Symbol', choose 'SHANKESH'.
- Enter your PAN Number and Application Number.
- Click 'Submit' to view your status.
3. Via KFin Technologies (Registrar) Website:
Kfin Technologies is the official registrar for the Shankesh Jewellers IPO. You can check your allotment status on their portal:
- Navigate to the KFin Technologies web portal: https://kosmic.kfintech.com/ipostatus
- Select the IPO from the dropdown menu (the name will appear once allotment is finalized).
- Choose one of three modes to check: Application Number, Demat Account Number, or PAN ID.
- If applicable, select between ASBA and non-ASBA application types.
- Enter the required details for your chosen mode.
- Fill in the captcha accurately for security.
- Click 'Submit'.
Aryaman Financial Services acted as the book-running lead manager for the issue. Kfin Technologies, as the registrar, is responsible for processing applications, carrying out the allotment, and ensuring timely refunds and share credits to successful applicants.