Shankesh Jewellers IPO Day 1 Subscription Status: 0.36x Subscribed; GMP at ₹4
Shankesh Jewellers’ IPO was subscribed 0.36 times on Day 1, with retail investors leading at 0.53 times, as of early evening (5:00 p.m. to 6:30 p.m. IST) on 18 August 2026. Non-Institutional Investors (NIIs) subscribed 0.38 times, while Qualified Institutional Buyers (QIBs) subscribed 0.03 times. The Grey Market Premium (GMP) was around ₹4, and bidding remains open until 20 August 2026.
| Metric | Latest update |
| Bidding day | Day 1 |
| Data status | Early evening (5:00 p.m. to 6:30 p.m. IST) on 18 August 2026 |
| Overall subscription | 0.36x |
| QIB subscription | 0.03x |
| NII subscription | 0.38x |
| Retail subscription | 0.53x |
| Other reserved category | No separate employee/shareholder reservation reported |
| Current GMP | ₹4 |
| GMP percentage | 4.3% |
| Indicative price | ₹97 |
| Closing date | 20 August 2026 |
Shankesh Jewellers IPO Day 1 Subscription Status
Retail Individual Investors recorded the strongest response among the public bidding categories on the opening day. The retail portion received bids equivalent to 0.53 times the shares reserved for the category, while NIIs reached 0.38 times.
| Investor category | Day 1 subscription |
| Qualified Institutional Buyers (QIBs) | 0.03x |
| Non-Institutional Investors (NIIs) | 0.38x |
| Retail Individual Investors | 0.53x |
| Overall | 0.36x |
The numbers show that the issue was not fully subscribed on Day 1. Demand was stronger among retail and non-institutional bidders than among QIBs.
Subscription multiples measure the quantity of shares bid for relative to the shares available in each category. They do not represent the number of unique IPO applicants. Category allocations also differ, so a higher multiple in one segment should not automatically be treated as stronger demand across the entire issue.
What the Day 1 Subscription Numbers Indicate So Far
The opening-day response was retail-led rather than broad-based. Retail reached more than half of its reserved portion, while NII demand remained below 0.4 times and QIB participation was limited at 0.03 times.
Low institutional participation on Day 1 is not unusual because QIB bidding can build later in the offer period. However, that pattern does not guarantee that institutional demand will increase in this IPO. Day 2 data will provide a clearer view of whether participation is widening across categories.
Shankesh Jewellers IPO GMP Today and Estimated Listing Price
Shankesh Jewellers IPO GMP was around ₹4 per share in the latest available reading on 18 August 2026. Grey-market trackers showed some variation during the day, including an earlier reading of around ₹3.
At the upper price band of ₹93:
Indicative price = ₹93 + ₹4 = ₹97
GMP percentage = ₹4 ÷ ₹93 × 100 = approximately 4.3%
This means the current grey-market indication is about 4.3% above the IPO’s upper price band.
GMP is unofficial, unregulated, and can change quickly. It is not published by the Securities and Exchange Board of India (SEBI), NSE, or BSE, and it does not guarantee the actual listing price or listing gains.
What Stands Out in Today’s Bidding
Two points are notable from Day 1. First, retail investors provided the strongest category response, with the retail portion subscribed 0.53 times. Second, the overall subscription of 0.36 times shows that the issue still had a substantial portion available after the opening day.
The GMP of ₹4 indicates a modest unofficial premium relative to the ₹93 upper band, but it should be viewed separately from subscription demand. Subscription and GMP measure different things, and they can move in different directions.
Neither a high subscription multiple nor a positive GMP establishes fair valuation, business quality, or future returns. Day 1 data is also only an interim snapshot of a three-day bidding period.
IPO Details Retail Investors Need
| IPO detail | Information |
| Price band | ₹88 to ₹93 per share |
| Lot size | 160 shares |
| Minimum retail investment | ₹14,880 |
| Total issue size | ₹367.18 crore |
| Fresh issue | ₹274.18 crore |
| Offer for Sale (OFS) | ₹93 crore |
| Issue type | Mainboard, book-built issue |
| Closing date | 20 August 2026 |
| Expected listing date | 25 August 2026 |
| Exchange | BSE and NSE |
The minimum retail application is one lot of 160 shares. At the upper price band of ₹93, this requires ₹14,880.
Brief Company and Financial Context
Shankesh Jewellers manufactures and supplies customised handcrafted 18-karat and 22-karat gold jewellery, primarily through a business-to-business model. Revenue from operations increased to about ₹1,630.78 crore in FY26 from ₹1,403.83 crore in FY25, while profit after tax rose to ₹106.68 crore from ₹40.31 crore.
The company plans to use fresh-issue proceeds mainly for repayment or prepayment of borrowings, working-capital requirements, and general corporate purposes. One material consideration is its reliance on third-party karigars and job workers for manufacturing, which creates operational and quality-control dependencies despite keeping the business relatively asset-light.
What Happens Next
Day 2 bidding is scheduled for 19 August 2026. Investors can watch whether the overall subscription rate accelerates, whether QIB participation increases, whether retail and NII demand remains firm, and whether the GMP moves materially from its current level.
The IPO closes on 20 August 2026, when the final demand picture across investor categories will become clearer.
Frequently Asked Questions (FAQs)
Q: How many times was the Shankesh Jewellers IPO subscribed on Day 1?
A: Shankesh Jewellers IPO was subscribed 0.36 times overall on Day 1, as of early evening on 18 August 2026. Retail investors led at 0.53 times, followed by NIIs at 0.38 times and QIBs at 0.03 times.
Q: What is the Shankesh Jewellers IPO GMP today?
A: The latest available Shankesh Jewellers IPO GMP was around ₹4 per share on 18 August 2026. GMP is an unofficial grey-market indicator and can change quickly.
Q: What listing price does the current Shankesh Jewellers IPO GMP indicate?
A: At a ₹4 GMP and an upper price band of ₹93, the indicative price is about ₹97 per share. This is only a grey-market calculation and is not a forecast or guarantee of the actual listing price.
Q: Is the Shankesh Jewellers IPO Day 1 subscription figure final?
A: No. Day 1 figures reflect the opening-day bidding response. The IPO remains open until 20 August 2026, so subscription levels can change substantially during Day 2 and the closing day.
Q: Does high IPO subscription guarantee a premium listing?
A: No. Subscription demand does not guarantee listing gains. Listing performance can also depend on valuation, market conditions, company fundamentals, institutional demand, and investor sentiment. GMP is unofficial and does not provide a guaranteed outcome.
Disclaimer
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