Bengaluru, 30th September 2025 – Shankesh Jewellers Limited (“The Company”) engaged in the business of handcrafted gold jewellery and providing jewellery customisation services, has filed its draft red herring prospectus (DRHP) with capital markets regulator SEBI to raise funds through an initial public offering (IPO).
Incorporated in 2005, the Company acts as principal contractor, managing the design, material sourcing, and finished Jewellery making process for several jewellery businesses, including corporate jewellery brands. The company operates primarily based on an “asset-light” business model, where they leverage the experience of Karigars to handcraft jewellery according to their clients’ requirements. As of Fiscal 2025, the Company have established their presence by sale across 21 States and 3 Union Territories in India.
According to the DRHP, the proposed IPO is a combination of a fresh issue of equity shares aggregating up to 30,000,000 equity Shares and an offer for sale (OFS) of up to 10,000,000 equity shares. Kantilal Kheemraj Jain and Manoj Kantilal Jain are the Promoter selling shareholders.
Shankesh Jewellers proposes to utilize the Net Proceeds of the Fresh Issue towards (i) Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company, estimated amount of Rs. 1,580.00 million (158 crores); (ii) Funding working capital requirements of the Company, estimated amount of Rs. 380.00 million (38 crores); and balance for (iii) general corporate purposes.
The Company, in consultation with the BRLM, may consider a Pre-IPO Placement of Equity Shares, prior to filing of the Red Herring Prospectus with the RoC.
In FY25, the Company reported revenue from operations at Rs. 1,403.83 crores. During the same period, profit after tax (PAT) stood at Rs. 40.31 crores, and ROE was 40.07%.
Aryaman Financial Services Limited and Smart Horizon Capital Advisors Private Limited are the book running lead managers (BRLM) to the offer.
