Shankesh Jewellers IPO Opens: Rs 367 Cr Offer Today

Shankesh Jewellers Ltd. has commenced its initial public offering today, August 18, with the subscription period concluding on August 20. The Mumbai-based B2B jewellery company has set its price band at Rs 88-93 per share.

The total offering amounts to Rs 367.2 crore, comprising a fresh issue of equity shares and an offer for sale. The company intends to utilize the proceeds from the fresh issue to fund working capital requirements, repay or prepay certain borrowings, and for general corporate purposes.

With over three decades of experience, Shankesh Jewellers specializes in handcrafted gold jewellery, supplying to retailers across India. The company operates on an asset-light model, outsourcing its manufacturing processes to skilled artisans. Analysts suggest a 'Subscribe: Long Term' rating based on its growth profile and improving profitability.