Shankesh Jewellers Secures INR 110-Crore Investment from 12 Anchor Investors Ahead of IPO Launch

Shankesh Jewellers, a Mumbai-based B2B gold jewellery supplier, is set to launch its IPO with a total issue size of INR 367.18 crore. The company has successfully garnered INR 110.15 crore from 12 anchor investors at INR 93 per share, the upper limit of its price band, just ahead of the three-day subscription period commencing on 18 August 2026. The anchor allocation letter filed with BSE and NSE on 17 August 2026 indicates that a total of 1,18,44,600 equity shares have been allotted, marking a significant mobilization of capital for the company.

Interestingly, the anchor book is solely composed of offshore and alternative investment vehicles, with no participation from domestic mutual funds, life insurers, or pension funds. Notably, Tiger Strategies Fund – I emerged as the largest allotte, securing 15.56% of the anchor allocation, followed by Necta Bloom VCC – Necta Bloom One at 13.62%. This absence of domestic institutional participation could signal varying investor sentiment regarding Shankesh Jewellers, potentially reflecting caution or strategic positioning among traditional Indian investors.

In the grey market, Shankesh Jewellers shares have been quoted at a premium of INR 8, suggesting a projected listing price of INR 101, which translates to a potential gain of approximately 8.60% over the upper price band. For Indian investors, the presence of a premium in the grey market indicates optimism regarding the stock’s performance post-listing. However, the lack of robust domestic institutional backing may introduce caution, urging retail investors to carefully assess their strategies and consider both potential rewards and risks before participating in this IPO.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)