Shankesh Jewellers shares are set to list on the NSE and BSE on August 25, with the latest Grey Market Premium (GMP) indicating a modest 2.96% listing gain over the IPO's upper price band of Rs 93.
Here's a comprehensive look at the Shankesh Jewellers IPO details before its listing.
Shankesh Jewellers IPO Expected Listing Price
As of August 25, the latest Grey Market Premium (GMP) for the Shankesh Jewellers IPO is Rs 2.75. With the upper end of the IPO price band at Rs 93 per share, the estimated listing price for Shankesh Jewellers is Rs 95.75 per share.
This indicates a potential listing gain of approximately 2.96% over the issue price.
It's important to note that GMP is an unofficial indicator and does not guarantee the actual listing price.
Shankesh Jewellers IPO Final Subscription Status
The Shankesh Jewellers IPO saw a moderate response from investors, with the issue being oversubscribed 2.80 times by the final day of bidding on August 20.
The subscription details across different investor categories are as follows:
- Qualified Institutional Buyers (QIBs): 1.32 times
- Non-Institutional Investors (NIIs): 5.68 times
- Retail Investors: 2.42 times
The allotment of shares for the IPO was finalised on August 21.
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Shankesh Jewellers IPO Listing Date
The Shankesh Jewellers IPO listing date is scheduled for August 25. The company's shares will be listed and available for trading on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
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Shankesh Jewellers IPO Details
The Shankesh Jewellers IPO is a book-built issue valued at Rs 367.18 crore. The public offer consists of a fresh issue and an Offer for Sale (OFS).
- Fresh Issue: 2.95 crore equity shares, aggregating to Rs 274.18 crore.
- Offer for Sale (OFS): 1 crore equity shares, amounting to Rs 93 crore.
- Price Band: The IPO price was set in the range of Rs 88 to Rs 93 per equity share.
- Lot Size: The minimum lot size for an application was 160 shares, requiring a minimum investment of Rs 14,880 for retail investors at the upper price band.
Aryaman Financial Services Ltd. is the book-running lead manager for the IPO, while Kfin Technologies Ltd. is the registrar.
Shankesh Jewellers IPO: Use Of Proceeds
Shankesh Jewellers intends to use the net proceeds from the fresh issue for the following key objectives:
- Debt Reduction: Rs 158 crore will be used for the repayment or pre-payment of certain company borrowings.
- Working Capital: Rs 38 crore is allocated to fund the company's operational working capital needs.
- General Corporate Purposes: The remaining funds will be utilised for general corporate requirements.
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