Shankesh Jewellers IPO Day 3 Final Subscription Status: 2.80x Subscribed; GMP at ₹3
Shankesh Jewellers IPO Day 3 Final Subscription Status stood at 2.80x overall after bidding closed on 20 August 2026, with Non-Institutional Investors (NIIs) leading demand at 5.68x. Retail subscription reached 2.42x, while Qualified Institutional Buyers (QIBs) subscribed 1.32x. The IPO is now closed. The latest available Grey Market Premium (GMP) was around ₹3 per share, with listing expected on 25 August 2026.
| Metric | Final update |
| Bidding day | Day 3 Final |
| Data status | Final after bidding closed on 20 August 2026 |
| Overall subscription | 2.80x |
| QIB subscription | 1.32x |
| NII subscription | 5.68x |
| Retail subscription | 2.42x |
| Current GMP | ₹3 |
| GMP percentage | 3.2% |
| Indicative price | ₹96 |
| Closing date | 20 August 2026 |
Shankesh Jewellers IPO Day 3 Final Subscription Status
The IPO received bids for about 7.74 crore shares against roughly 2.76 crore shares available for public bidding, resulting in final overall subscription of 2.80x.
NIIs recorded the highest category multiple, followed by retail investors. QIB demand also moved above full subscription by the close.
| Investor category | Day 3 Final | Day 2 close |
| Qualified Institutional Buyers | 1.32x | 0.76x |
| Non-Institutional Investors | 5.68x | 0.76x |
| Retail Individual Investors | 2.42x | 1.13x |
| Overall | 2.80x | 0.94x |
The sharpest final-day expansion came from the NII segment, which rose by 4.92x from its Day 2 closing level. Retail demand more than doubled its available quota, while QIB participation increased sufficiently to take the institutional portion above 1x.
These multiples measure the quantity of shares bid for relative to shares reserved in each category. They do not represent the number of unique applicants.
Final Day-wise Subscription Trend
Shankesh Jewellers IPO saw most of its demand build during the final bidding session.
| Bidding stage | Overall subscription | Leading category |
| Day 1 close | 0.36x | Retail, 0.53x |
| Day 2 close | 0.94x | Retail, 1.13x |
| Day 3 Final | 2.80x | NII, 5.68x |
The overall book increased from 0.36x on Day 1 to 0.94x on Day 2 before closing at 2.80x. This shows that the issue moved from being undersubscribed through the first two sessions to more than twice subscribed after the final day.
Demand also became broader. All three main investor categories finished above 1x, although the final multiple was clearly led by NIIs rather than being evenly distributed.
Shankesh Jewellers IPO GMP Today and Estimated Listing Price
The latest available Shankesh Jewellers IPO GMP was around ₹3 per share after bidding closed on 20 August 2026. The available Day 2 reading was also around ₹3, indicating broadly unchanged grey-market sentiment despite the increase in final subscription.
At the ₹93 upper price band:
Indicative price = ₹93 + ₹3 = ₹96
GMP percentage = ₹3 ÷ ₹93 × 100 = about 3.2%
Some GMP trackers have shown different readings around the issue, which is common because the grey market is informal and unregulated. The ₹3 figure should therefore be treated as an indicative reference rather than an official market price.
GMP is not published or regulated by the Securities and Exchange Board of India (SEBI), BSE Limited (BSE), or the National Stock Exchange of India (NSE). It can change quickly and does not guarantee either the listing price or listing gains.
What Stands Out in Today’s Bidding
The first key signal is the final-day jump in NII demand. NII subscription increased from 0.76x after Day 2 to 5.68x at the close, making it the strongest category by a wide margin.
Second, the overall book became broader because retail and QIB portions also ended above full subscription. This contrasts with Day 2, when only retail had crossed 1x.
However, the subscription-GMP picture is worth separating. Overall demand rose sharply to 2.80x, while GMP remained near ₹3, or about 3.2% of the upper price band. Subscription and GMP measure different things, and this divergence does not by itself signal how the shares will list.
High subscription also does not establish fair valuation, business quality, or future returns.
IPO Details Retail Investors Need
| Detail | Shankesh Jewellers IPO |
| Price band | ₹88 to ₹93 per share |
| Lot size | 160 shares |
| Minimum retail investment | ₹14,880 at upper band |
| Issue size | ₹367.18 crore |
| Fresh issue | ₹274.18 crore |
| Offer for Sale (OFS) | ₹93 crore |
| Issue type | Book-built mainboard IPO |
| Closing date | 20 August 2026 |
| Expected listing date | 25 August 2026 |
| Exchange | BSE and NSE |
At the upper price band, one retail lot required 160 shares × ₹93 = ₹14,880.
Brief Company and Financial Context
Shankesh Jewellers manufactures and supplies customised handcrafted 18-karat and 22-karat gold jewellery, using an asset-light model that relies partly on skilled artisans and job workers. Total revenue increased from about ₹1,403.94 crore in FY25 to ₹1,630.93 crore in FY26, while profit after tax rose from ₹40.31 crore to ₹106.68 crore.
The company plans to use around ₹158 crore of fresh proceeds to repay or prepay certain borrowings and ₹38 crore for working-capital needs. Key considerations include exposure to gold-price movements, customer concentration, working-capital requirements, outsourced manufacturing, and whether recent profit growth is sustainable.
What Happens Next
With bidding closed, the basis of allotment is expected to be finalised on 21 August 2026. Refund or fund-unblocking and credit of shares are expected to follow before the tentative 25 August 2026 listing on BSE and NSE. The key market indicator to watch before listing will be whether the unofficial GMP strengthens, weakens, or remains near its current level.
Frequently Asked Questions (FAQs)
Q: How many times was the Shankesh Jewellers IPO subscribed on Day 3 Final?
A: Shankesh Jewellers IPO closed at 2.80x overall subscription on 20 August 2026. NIIs led at 5.68x, retail investors subscribed 2.42x, and QIBs subscribed 1.32x.
Q: What is the Shankesh Jewellers IPO GMP today?
A: The latest available GMP after the issue closed was around ₹3 per share. GMP is unofficial, unregulated, and can change before listing, so it should not be treated as a guaranteed listing premium.
Q: What listing price does the current Shankesh Jewellers IPO GMP indicate?
A: Adding the ₹3 GMP to the ₹93 upper issue price gives an indicative price of ₹96 per share, about 3.2% above the upper price band. This is only a grey-market calculation, not a prediction or guaranteed listing price.
Q: Does the 2.80x Shankesh Jewellers IPO subscription guarantee a premium listing?
A: No. Subscription multiples measure bid demand relative to shares available, while GMP reflects unofficial grey-market sentiment. Neither guarantees a premium listing, investment returns, fair valuation, or future business performance.
Q: When is the Shankesh Jewellers IPO allotment expected?
A: The basis of allotment is expected on 21 August 2026, followed by the remaining post-issue settlement process. The shares are tentatively scheduled to list on BSE and NSE on 25 August 2026.
Disclaimer
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