Shankesh Jewellers Ltd IPO
Status: Closed
Overview
IPO date
18 Aug 2026 to 20 Aug 2026
Face value
₹ 5 per share
Price
₹ 88 to ₹93 per share
Issue Size
39,482,000 shares
(aggregating up to ₹ 367.18 Cr)
(aggregating up to ₹ 367.18 Cr)
Allotment Date
21 Aug 2026
Listing at
NSE
Issue type
Book Building
Sector
Diamond, Gems and Jewellery
Unlock Stock of the Month
T&C*
Strengths vs Risks of Shankesh Jewellers Ltd
Know the pros & cons
Strengths
- Strong historical financial results.
- Long Term Relation with local Jobworkers for handling custom hand crafted gold jewellery making process.
- Asset-Light business model.
- Wide product range in hand crafted gold jewellery.
- Commitment to Quality and Customer Satisfaction.
- Established relations with corporate and non- corporate jewellery clients.
- Experienced Promoters and management team with execution capabilities.
- Established marketing setup.
Risks
- The company's business and the demand for its product is reliant on the success of the company's customers' products with end consumers, and any decline in the demand for the end-products could have an adverse impact on its business, results of operations, cash flows and financial condition.
- Jewellery purchases are discretionary and often perceived as luxury purchases. Any factor negatively impacting discretionary spending by consumers may adversely affect the company's business, results of operations, financial condition and prospects.
- A significant portion of the company's business operations and revenue generation is concentrated in the Top 5 states (Tamil Nadu, Maharashtra, Uttar Pradesh, Bihar and Odissa) which contributed to 67.84%, 63.67% and 62.00% of its revenue from operations in Fiscal 2026, 2025 and Fiscal 2024. This regional concentration could expose the Company to economic, cultural, geopolitical and local market risks.
- The company operates in a high-value commodity sector and there are certain security risks associated with the transit and delivery of gold jewellery, including potential loss or theft.
- The company is dependent on third party Jobworkers for the production and manufacturing of all of its products. Any disruptions at such third-party production or manufacturing facilities, or shortage or scarcity of Karigars employed or deployed such Jobworkers in the jewellery industry in Maharashtra or failures of such third parties to adhere to the relevant quality standards may have a negative effect on the company's reputation, business and financial condition and results of operations.
- The company is subject to strict quality requirements, and sales of its products is dependent on the company's quality controls and standards, which has resulted in certain instances of its products being returned by the company's customers amounting to Rs. 1,177.56 million, Rs.733.98 million and Rs.462.72 million in Fiscals 2026, 2025 and 2024, respectively. Any failures to comply with quality standards may adversely affect the company's business prospects, cash flows and financial performance, including cancellation of existing and future orders.
- The company's funding requirements and proposed deployment of the Net Proceeds of the Offer have not been appraised by a bank or a financial institution, and the proposed utilization of Net Proceeds is based on, amongst others, its current business plan and management estimates, and if there are any delays or cost overruns, the company's business, cash flows, financial condition and results of operations may be adversely affected.
- The Company has experienced negative net cash flow from operating activities of Rs. 231.05 million in Fiscal 2025, negative cash flow from investing activities of Rs. 126.99 million, Rs. 28.95 million and Rs. 10.12 million in the past three Fiscals, and negative cash flow from financing activities of Rs.4.86 million in Fiscal 2024, and may continue to do so in future, which could have a material adverse effect on the company's business, prospects, financial condition, cash flows and results of operations.
- The company has incurred significant indebtedness which exposes it to various risks which may have an adverse effect on the company's business, results of operations and financial conditions. Conditions and restrictions imposed on the company by the agreements governing its indebtedness could adversely affect the company's ability to operates its business.
- The company's manufacturing work is done by skilled Karigars, who does not work exclusively for it, and its may be unable to maintain or establish arrangements with the Jobworkers, which exposes it to any risks/adverse developments affecting the skilled Karigars and the company may experience other disruptions or quality control risks while working with such parties.
- Volatility in the market price of gold has a bearing on the value of the company's inventory and could affect its income, profitability and scale of operations.
- The present geographic concentration of the company's manufacturing operations exposes it to regional economic downturns, natural disasters, catastrophic occurrences and civil disruptions.
- Volatility in the market price of gold, silver and diamonds and other raw materials has a bearing on the value of the company's inventory and may affect its income, profitability and scale of operations.
- The company's top 10 customers contributed to 39.56%, 30.48% and 30.62% in the Fiscals 2026, 2025 and 2024, respectively. Any loss of one or more of its top customers, or the deterioration of their financial condition or prospects, or a reduction in them demand for the company's products, could adversely affect its business, results of operations, financial condition and cash flows.
- The company's income and sales is subject to seasonal fluctuations and lower income in a peak season may have a disproportionate effect on its results of operations.
- The company does not enter into long-term agreements with suppliers for its raw materials. An increase in the cost of, or a shortfall in the availability or quality of such raw materials, in a timely manner or at all, could have an adverse effect on the company's business, cash flows and results of operations.
- The Company requires significant amounts of working capital for continued growth and its intends to utilise Rs. 380.00 million from the total Net Proceeds towards funding the company's working capital requirements. Its inability to meet the company's working capital requirements, on commercially acceptable terms, may have an adverse impact on its business, financial condition and results of operations.
- The nature of the company's business requires it to maintain sufficient inventories resulting into high inventory costs. If the company is unable to maintain an optimal level of inventory, including due to changes in consumer demands, its business, results of operations and financial condition may be adversely affected.
- The company enters into related party transactions amounting to Rs.633.39 million constituting 3.88%, Rs. 694.95 million constituting 4.95%, and Rs. 958.92 million constituting 9.03% of its revenue from operations in Fiscal 2026, 2025 and 2024, respectively in the ordinary course of the company's business and its cannot assure you that such transactions will not have an adverse effect on the company's results of operation and financial condition.
- The company's Registered and Corporate Office, from where its operates, as well as the branch offices of the Company is located on land not owned by it and has been leased to it by third parties. In the event its lose or is unable to renew such leasehold rights, the company's business, financial condition, cash flows and results of operations may be adversely affected.
- The Company was able to report a revenue growth of 23.93% CAGR during Fiscal 2024 to Fiscal 2026. However, its cannot assure you that the company will be able to sustain such growth in future.
- The Company has obtained insurance coverage of insured assets amounting to Rs.2,425.14 million (365.37% % of its total assets) Rs. 1,649.64million (152.86% of the company's total assets) and Rs. 1327.59million (325.84% of its total assets) as of Fiscals 2026, 2025 and 2024 respectively. An inability to maintain adequate insurance cover in connection with the company's business may adversely affect its operations and profitability.
- Inability to obtain or protect the company's intellectual property rights may adversely affect its business.
- The Company has not paid dividends during the last three Fiscals. There can be no assurance that the Company will be in a position to pay dividends in the future. Its ability to pay dividends in the future may be affected by any material adverse effect on the company's future earnings, financial condition or cash flows.
- If the company is unable to establish and maintain an effective internal quality controls and compliance system, its business and reputation could be adversely affected.
- Changes or a downturn in economic conditions, in particular in the company's principal markets, may affect consumer purchases of discretionary items, such as its products.
- None of the company's Directors has prior experience of directorships in listed companies.
- Failures to protect the company's jewellery designs and susceptibility to intellectual property infringement litigation could adversely affect its reputation, results of operations, and financial condition.
- For the company's business, its relies heavily on the company's Promoters namely Kantilal Kheemraj Jain, Mahavir Kantilal Jain and Manoj Kantilal Jain, who are the company's Promoters. Its business performance may have an adverse effect by their departure or by its failures to recruit or keep them.
- The company's Promoters, Directors, Key Managerial Personnel, Senior Management and its employees, especially the members of the design and marketing teams are critical to the company's continued success and its may be unable to attract and retain such personnel in the future.
- Disruptions of transportation network and transportation infrastructure may have an adverse effect on the company's business and results of operations.
- The company may not be able to successfully manage the growth of its business if the company is not able to effectively implement its strategies.
- The Company operates in a business environment where orders are fulfilled based on customer and seasonal demand.
- Any variation in the utilization of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- The company operates in a competitive business environment. Competition from existing players and new entrants and consequent pricing pressures and its inability to compete effectively could have a material adverse effect on the company's operating margins, business growth and prospects, financial condition and results of operations and may lead to a lower market share.
- Any failures to obtain, renew and maintain requisite statutory and regulatory permits, licenses and approvals for the company's operations from time to time may adversely affect its business.
- The company's Promoters has significant control over the Company and have the ability to direct its business and affairs; their interests may conflict with your interests as a shareholder.
- The company has, in the last year, issued Equity Shares at a price that could be lower than the Offer Price.
- The Company has availed unsecured borrowing which is repayable on demand.
- Failures to maintain confidential information of its customers could adversely affect the company's results of operations or damage its reputation.
- Industry information included in this Red Herring Prospectus has been derived from an industry report prepared by CareEdge Research exclusively commissioned and paid for by the company for such purpose.
- The company's Promoters, Promoter Group, Directors, Key Managerial Personnel, Senior Management of the Company may enter into ventures that may lead to real or potential conflicts of interest with its business. Further, the company's Promoters and Directors have interests in the Company other than reimbursement of expenses incurred or normal remuneration or benefits. Any real or potential conflicts of interest that may arise in this regard may materially adversely impact its business, financial condition, results of operations and cash flows.
- There are certain outstanding legal proceeding involving the Company, Promoters and Directors. Any adverse outcome in such proceeding may have an adverse impact on the company's reputation, business, results of operations, cash flows and financial condition.
- The Company has issued bonus shares on October 04, 2024 and September 10, 2025 in the proportion of 25:10, i.e., 25 Equity Shares each for every 10 Equity Share each held by the then existing equity Shareholders and in the proportion of 5:1, i.e. 5 Equity Shares each for every 1 Equity Share each held by the then existing equity Shareholders, respectively, of the Company as on such record date. There can be no assurance that the Company will be in a position to declare bonus in the future. Its ability to declare and issue bonus in the future may be affected by any material adverse effect on the company's future earnings, financial condition or cash flows.
- The company has in this Red Herring Prospectus included certain non-GAAP financial measures and certain other industry measures related to its operations and financial performance. These non-GAAP measures and industry measures may vary from any standard methodology that is applicable across the Indian jewellery industry, and therefore may not be comparable with financial or industry related statistical information of similar nomenclature computed and presented by other companies.
- Negative publicity against it, the company's Promoters, Promoter group, its suppliers, the company's customers or any of its or their affiliates could cause it reputational harm and could have a material adverse effect on the company's business, financial condition, results of operations and prospects.
- The company occupies the premises of one of its Promoter Group Individuals, namely, Sushila Kantilal Jain, wherein its Registered Office is located on leave and license basis and any termination of this agreement and/or non-renewal could adversely affect the company's operations. Discontinuation/termination of leave and licence agreement may require it to vacate such premises which may have an adverse impact on the company's business continuity and profitability. Further the leave and license agreement entered into by the Company is yet to be registered.
- The company's Promoters has provided personal guarantees in connection with its borrowings. The company's business, financial condition, results of operations and prospects may be adversely affected by the revocation of all or any of the guarantees provided by them in connection with its borrowings.
- Significant differences exist between Ind AS and other accounting principles, such as US GAAP and International Financial Reporting Standards ("IFRS"), which may affect investor's assessment of the company's financial condition.
- The company is dependent on a limited number of Designers for creating designs for its hand-crafted gold jewellery, and the company's inability to attract and retain such Designers may adversely affect its business, reputation and results of operations.
- Pursuant to listing of the Equity Shares, the company may be subject to pre-emptive surveillance measures like Additional Surveillance Measure (ASM) and Graded Surveillance Measures (GSM) by the Stock Exchanges in order to enhance market integrity and safeguard the interest of investors.
- There are certain instances of non-compliances and alleged non-compliances with respect to certain regulatory filings for corporate actions taken by the Company in the past. Consequently, its may be subject to regulatory actions and penalties for any such past or future non-compliance and the company's business, financial condition and reputation may be adversely affected.
- The company's asset-light business model involves dependence on third parties and handling of inventory at third-party locations, which may expose it to operational risks and may adversely affect its business, financial condition and results of operations.
Shankesh Jewellers Ltd Peer Comparison
Understand the company’s industry standing
Shankesh Jewellers Ltd
Shanti Gold International Limited
Sky Gold & Diamonds Limited
Face Value
5
10
10
Standalone / Consolidated
Standalone
Standalone
Consolidated
Total Income Rs. Cr.
1630.787
2018.709
6294.887
EPS-Basis
9.09
21.22
18.07
EPS-Diluted
9.09
21.22
18.06
NAV Per Share
17.82
83
77.8
P/E-Basic EPS
---
10.04
34.86
P/E-Diluted EPS
---
---
---
RONW(%)
50.97
23.42
23.37
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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The IPO opens on 18 Aug 2026 & closes on 20 Aug 2026.
Mr. Kantilal Kheemraj Jain started dealing in hand crafted gold jewellery business since 1992, under the proprietary firm in the name of Shankesh Jewellers. Later on, in July 2005, Shankesh Jewellers Limited was incorporated as H.K. Gold Private Limited and subsequently in August 2006, it changed its name to Shankesh Jewellers Private Limited. Further, Company has converted to Shankesh Jewellers Limited on April 23, 2025.
Company is a wholesale gold jewellery player, specializing in crafting high-quality jewellery that aligns with diverse customer preferences. Company act as principal contractor, managing the design, material sourcing, and finished Jewellery making process for its clients. It operate manufacturing through Karigars engaged as Job Workers who are experienced in artistic work in carving and processing of plain and studded gold jewellery.
At present, Company is engaged in the business of hand crafted gold jewellery and providing customisation services to our clients such as Joyalukkas India Limited, P. N. Gadgil & Sons Limited, Kalyan Jewellers India Limited and Novel Jewels Limited (Aditya Birla Group) amongst others. It offer a diverse range of high-quality hand crafted gold jewellery in 22-karat and 18-karat. Gold jewellery are hallmarked as per BIS standard in accordance with regulatory guidelines.
The Company has filed a Draft Prospectus with SEBI and is planning the IPO of 40,000,000 equity shares of face value of Rs 5 each, comprising a fresh issue of 30,000,000 equity shares and the offer for sale of 10,000,000 Equity Shares.
Shankesh Jewellers Ltd IPO will close on 20 Aug 2026.
- Strong historical financial results.
- Long Term Relation with local Jobworkers for handling custom hand crafted gold jewellery making process.
- Asset-Light business model.
- Wide product range in hand crafted gold jewellery.
- Commitment to Quality and Customer Satisfaction.
- Established relations with corporate and non- corporate jewellery clients.
- Experienced Promoters and management team with execution capabilities.
- Established marketing setup.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Kantilal Kheemraj Jain | 29064000 | 24.72 | 26174000 | 20.64 |
| 2 | Mahavir Kantilal Jain | 26846400 | 22.84 | 26846400 | 22.84 |
| 3 | Manoj Kantilal Jain | 31374000 | 26.69 | 26174000 | 22.27 |
| 4 | Sunita Manoj Jain | 7812000 | 6.65 | 7812000 | 6.65 |
| 5 | Swimmi Mahavir Jain | 7812000 | 6.65 | 7812000 | 6.65 |
| 6 | Sushila Kantilal Jain | 4536000 | 3.87 | 4536000 | 3.87 |
| 7 | Kantilal K Jain HUF | 3864000 | 3.3 | 3864000 | 3.3 |
| 8 | Mahavir K Jain HUF | 462000 | 0.39 | 462000 | 0.39 |
| 9 | Manoj K Jain HUF | 462000 | 0.39 | 462000 | 0.39 |
- The company's business and the demand for its product is reliant on the success of the company's customers' products with end consumers, and any decline in the demand for the end-products could have an adverse impact on its business, results of operations, cash flows and financial condition.
- Jewellery purchases are discretionary and often perceived as luxury purchases. Any factor negatively impacting discretionary spending by consumers may adversely affect the company's business, results of operations, financial condition and prospects.
- A significant portion of the company's business operations and revenue generation is concentrated in the Top 5 states (Tamil Nadu, Maharashtra, Uttar Pradesh, Bihar and Odissa) which contributed to 67.84%, 63.67% and 62.00% of its revenue from operations in Fiscal 2026, 2025 and Fiscal 2024. This regional concentration could expose the Company to economic, cultural, geopolitical and local market risks.
- The company operates in a high-value commodity sector and there are certain security risks associated with the transit and delivery of gold jewellery, including potential loss or theft.
- The company is dependent on third party Jobworkers for the production and manufacturing of all of its products. Any disruptions at such third-party production or manufacturing facilities, or shortage or scarcity of Karigars employed or deployed such Jobworkers in the jewellery industry in Maharashtra or failures of such third parties to adhere to the relevant quality standards may have a negative effect on the company's reputation, business and financial condition and results of operations.
- The company is subject to strict quality requirements, and sales of its products is dependent on the company's quality controls and standards, which has resulted in certain instances of its products being returned by the company's customers amounting to Rs. 1,177.56 million, Rs.733.98 million and Rs.462.72 million in Fiscals 2026, 2025 and 2024, respectively. Any failures to comply with quality standards may adversely affect the company's business prospects, cash flows and financial performance, including cancellation of existing and future orders.
- The company's funding requirements and proposed deployment of the Net Proceeds of the Offer have not been appraised by a bank or a financial institution, and the proposed utilization of Net Proceeds is based on, amongst others, its current business plan and management estimates, and if there are any delays or cost overruns, the company's business, cash flows, financial condition and results of operations may be adversely affected.
- The Company has experienced negative net cash flow from operating activities of Rs. 231.05 million in Fiscal 2025, negative cash flow from investing activities of Rs. 126.99 million, Rs. 28.95 million and Rs. 10.12 million in the past three Fiscals, and negative cash flow from financing activities of Rs.4.86 million in Fiscal 2024, and may continue to do so in future, which could have a material adverse effect on the company's business, prospects, financial condition, cash flows and results of operations.
- The company has incurred significant indebtedness which exposes it to various risks which may have an adverse effect on the company's business, results of operations and financial conditions. Conditions and restrictions imposed on the company by the agreements governing its indebtedness could adversely affect the company's ability to operates its business.
- The company's manufacturing work is done by skilled Karigars, who does not work exclusively for it, and its may be unable to maintain or establish arrangements with the Jobworkers, which exposes it to any risks/adverse developments affecting the skilled Karigars and the company may experience other disruptions or quality control risks while working with such parties.
- Volatility in the market price of gold has a bearing on the value of the company's inventory and could affect its income, profitability and scale of operations.
- The present geographic concentration of the company's manufacturing operations exposes it to regional economic downturns, natural disasters, catastrophic occurrences and civil disruptions.
- Volatility in the market price of gold, silver and diamonds and other raw materials has a bearing on the value of the company's inventory and may affect its income, profitability and scale of operations.
- The company's top 10 customers contributed to 39.56%, 30.48% and 30.62% in the Fiscals 2026, 2025 and 2024, respectively. Any loss of one or more of its top customers, or the deterioration of their financial condition or prospects, or a reduction in them demand for the company's products, could adversely affect its business, results of operations, financial condition and cash flows.
- The company's income and sales is subject to seasonal fluctuations and lower income in a peak season may have a disproportionate effect on its results of operations.
- The company does not enter into long-term agreements with suppliers for its raw materials. An increase in the cost of, or a shortfall in the availability or quality of such raw materials, in a timely manner or at all, could have an adverse effect on the company's business, cash flows and results of operations.
- The Company requires significant amounts of working capital for continued growth and its intends to utilise Rs. 380.00 million from the total Net Proceeds towards funding the company's working capital requirements. Its inability to meet the company's working capital requirements, on commercially acceptable terms, may have an adverse impact on its business, financial condition and results of operations.
- The nature of the company's business requires it to maintain sufficient inventories resulting into high inventory costs. If the company is unable to maintain an optimal level of inventory, including due to changes in consumer demands, its business, results of operations and financial condition may be adversely affected.
- The company enters into related party transactions amounting to Rs.633.39 million constituting 3.88%, Rs. 694.95 million constituting 4.95%, and Rs. 958.92 million constituting 9.03% of its revenue from operations in Fiscal 2026, 2025 and 2024, respectively in the ordinary course of the company's business and its cannot assure you that such transactions will not have an adverse effect on the company's results of operation and financial condition.
- The company's Registered and Corporate Office, from where its operates, as well as the branch offices of the Company is located on land not owned by it and has been leased to it by third parties. In the event its lose or is unable to renew such leasehold rights, the company's business, financial condition, cash flows and results of operations may be adversely affected.
- The Company was able to report a revenue growth of 23.93% CAGR during Fiscal 2024 to Fiscal 2026. However, its cannot assure you that the company will be able to sustain such growth in future.
- The Company has obtained insurance coverage of insured assets amounting to Rs.2,425.14 million (365.37% % of its total assets) Rs. 1,649.64million (152.86% of the company's total assets) and Rs. 1327.59million (325.84% of its total assets) as of Fiscals 2026, 2025 and 2024 respectively. An inability to maintain adequate insurance cover in connection with the company's business may adversely affect its operations and profitability.
- Inability to obtain or protect the company's intellectual property rights may adversely affect its business.
- The Company has not paid dividends during the last three Fiscals. There can be no assurance that the Company will be in a position to pay dividends in the future. Its ability to pay dividends in the future may be affected by any material adverse effect on the company's future earnings, financial condition or cash flows.
- If the company is unable to establish and maintain an effective internal quality controls and compliance system, its business and reputation could be adversely affected.
- Changes or a downturn in economic conditions, in particular in the company's principal markets, may affect consumer purchases of discretionary items, such as its products.
- None of the company's Directors has prior experience of directorships in listed companies.
- Failures to protect the company's jewellery designs and susceptibility to intellectual property infringement litigation could adversely affect its reputation, results of operations, and financial condition.
- For the company's business, its relies heavily on the company's Promoters namely Kantilal Kheemraj Jain, Mahavir Kantilal Jain and Manoj Kantilal Jain, who are the company's Promoters. Its business performance may have an adverse effect by their departure or by its failures to recruit or keep them.
- The company's Promoters, Directors, Key Managerial Personnel, Senior Management and its employees, especially the members of the design and marketing teams are critical to the company's continued success and its may be unable to attract and retain such personnel in the future.
- Disruptions of transportation network and transportation infrastructure may have an adverse effect on the company's business and results of operations.
- The company may not be able to successfully manage the growth of its business if the company is not able to effectively implement its strategies.
- The Company operates in a business environment where orders are fulfilled based on customer and seasonal demand.
- Any variation in the utilization of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- The company operates in a competitive business environment. Competition from existing players and new entrants and consequent pricing pressures and its inability to compete effectively could have a material adverse effect on the company's operating margins, business growth and prospects, financial condition and results of operations and may lead to a lower market share.
- Any failures to obtain, renew and maintain requisite statutory and regulatory permits, licenses and approvals for the company's operations from time to time may adversely affect its business.
- The company's Promoters has significant control over the Company and have the ability to direct its business and affairs; their interests may conflict with your interests as a shareholder.
- The company has, in the last year, issued Equity Shares at a price that could be lower than the Offer Price.
- The Company has availed unsecured borrowing which is repayable on demand.
- Failures to maintain confidential information of its customers could adversely affect the company's results of operations or damage its reputation.
- Industry information included in this Red Herring Prospectus has been derived from an industry report prepared by CareEdge Research exclusively commissioned and paid for by the company for such purpose.
- The company's Promoters, Promoter Group, Directors, Key Managerial Personnel, Senior Management of the Company may enter into ventures that may lead to real or potential conflicts of interest with its business. Further, the company's Promoters and Directors have interests in the Company other than reimbursement of expenses incurred or normal remuneration or benefits. Any real or potential conflicts of interest that may arise in this regard may materially adversely impact its business, financial condition, results of operations and cash flows.
- There are certain outstanding legal proceeding involving the Company, Promoters and Directors. Any adverse outcome in such proceeding may have an adverse impact on the company's reputation, business, results of operations, cash flows and financial condition.
- The Company has issued bonus shares on October 04, 2024 and September 10, 2025 in the proportion of 25:10, i.e., 25 Equity Shares each for every 10 Equity Share each held by the then existing equity Shareholders and in the proportion of 5:1, i.e. 5 Equity Shares each for every 1 Equity Share each held by the then existing equity Shareholders, respectively, of the Company as on such record date. There can be no assurance that the Company will be in a position to declare bonus in the future. Its ability to declare and issue bonus in the future may be affected by any material adverse effect on the company's future earnings, financial condition or cash flows.
- The company has in this Red Herring Prospectus included certain non-GAAP financial measures and certain other industry measures related to its operations and financial performance. These non-GAAP measures and industry measures may vary from any standard methodology that is applicable across the Indian jewellery industry, and therefore may not be comparable with financial or industry related statistical information of similar nomenclature computed and presented by other companies.
- Negative publicity against it, the company's Promoters, Promoter group, its suppliers, the company's customers or any of its or their affiliates could cause it reputational harm and could have a material adverse effect on the company's business, financial condition, results of operations and prospects.
- The company occupies the premises of one of its Promoter Group Individuals, namely, Sushila Kantilal Jain, wherein its Registered Office is located on leave and license basis and any termination of this agreement and/or non-renewal could adversely affect the company's operations. Discontinuation/termination of leave and licence agreement may require it to vacate such premises which may have an adverse impact on the company's business continuity and profitability. Further the leave and license agreement entered into by the Company is yet to be registered.
- The company's Promoters has provided personal guarantees in connection with its borrowings. The company's business, financial condition, results of operations and prospects may be adversely affected by the revocation of all or any of the guarantees provided by them in connection with its borrowings.
- Significant differences exist between Ind AS and other accounting principles, such as US GAAP and International Financial Reporting Standards ("IFRS"), which may affect investor's assessment of the company's financial condition.
- The company is dependent on a limited number of Designers for creating designs for its hand-crafted gold jewellery, and the company's inability to attract and retain such Designers may adversely affect its business, reputation and results of operations.
- Pursuant to listing of the Equity Shares, the company may be subject to pre-emptive surveillance measures like Additional Surveillance Measure (ASM) and Graded Surveillance Measures (GSM) by the Stock Exchanges in order to enhance market integrity and safeguard the interest of investors.
- There are certain instances of non-compliances and alleged non-compliances with respect to certain regulatory filings for corporate actions taken by the Company in the past. Consequently, its may be subject to regulatory actions and penalties for any such past or future non-compliance and the company's business, financial condition and reputation may be adversely affected.
- The company's asset-light business model involves dependence on third parties and handling of inventory at third-party locations, which may expose it to operational risks and may adversely affect its business, financial condition and results of operations.
The Issue type of Shankesh Jewellers Ltd is Book Building.
The minimum application for shares of Shankesh Jewellers Ltd is 160.
The total shares issue of Shankesh Jewellers Ltd is 39482000.
Initial public offering of 39,482,000 equity shares of face value of Rs. 5 each ("Equity Shares") of Shankesh Jewellers Limited ("Company" or "Issuer") for cash at a price of Rs. 93 per equity share (including a share premium of Rs. 88 per equity share) ("Offer Price") aggregating to 367.18 Crores comprising a fresh issue of 29,482,000 equity shares of face value of Rs. 5 each aggregating up to Rs. 274.18 Crores by the company ("Fresh Issue") and an offer for sale of 10,000,000 equity shares of face value of Rs. 5 each aggregating to up to Rs. 93 Crores ("Offered Shares") by Kantilal Kheemraj Jain and Manoj Kantilal Jain ("the promoter selling shareholders) ("Offer For Sale", and together with the fresh issue, the offer").
Price Band: Rs. 93 per equity share of face value of Rs. 5 each.
The floor price 18.6 times the face value of the equity shares, respectively.
Bids can be made for a minimum of 160 equity shares of face value of Rs. 5 each and in multiples of 160 equity shares of face value of Rs. 5 each thereafter.