Shankesh Jewellers share price: Stock lists at 11% premium on NSE; here's how much investors made per lot

On the BSE, the stock started trading at ₹102.20 per equity share, up 9.89% from the issue price.

Shankesh Jewellers share price: Here's how much investors made per lot

A lot consisted of 160 shares and cost ₹14,880. Investors who received Sunshine Pictures IPO allotment made ₹1,648 per lot, taking the value of their investment to ₹16,528, as per the listing price on the NSE.

The ₹367.18 crore IPO comprised a fresh issue of up to 2.95 crore equity shares valued at ₹274.18 crore and an offer for sale (OFS) of up to 1 crore equity shares totalling ₹93 crore by promoters Kantilal Kheemraj Jain and Manoj Kantilal Jain.

Proceeds from the fresh issue will be utilised for repayment or pre-payment of borrowings, funding working capital needs and corporate general purposes.

"Our company intends to strengthen its capital base and expects to receive the benefits of listing of the equity shares on the stock exchanges, including among other things, enhancing the visibility of our brand and our company among our existing and potential customers," the firm said in its red herring prospectus.

The initial share sale secured 2.80 times the subscription, as it received bids for 7,74,38,400 shares against 2,76,37,400 shares on offer, as per the NSE data.

The non-institutional investors, or NIIs, bid for 5.68 times the equity shares reserved for them. The quota for retail individual investors was booked 2.42 times, and the qualified institutional buyers portion got 1.32 times subscription.

Shankesh Jewellers, incorporated in 2005, is involved in the business of manufacturing and offering customised handcrafted gold jewellery. It specialises in 18-karat and 22-karat gold jewellery, providing a wide product portfolio including bridal jewellery, chokers, bangles, jhumkas, necklace sets, mangalsutras, rings, and combined sets across categories like Calcutta, antique, semi-antique, temple, gheru polish, and yellow/rodium/rose gold jewellery.

Its clients include reputed jewellers like Joyalukkas India, PN Gadgil & Sons, Kalyan Jewellers India and Novel Jewels (Aditya Birla Group), among others.