Shankesh Jewellers IPO - GMP, Subscription, Price, Dates & Financial Details

Incorporated in 2005, Shankesh Jewellers Limited is engaged in the business of manufacturing and supplying customised, handcrafted gold jewellery. The Company specialises in 22-karat and 18-karat gold jewellery and offers a diverse range of products catering to the requirements of established jewellery retailers and brands across India.

With a legacy of more than three decades in the handmade jewellery industry, the Company has developed expertise in traditional and contemporary jewellery designs, with a particular focus on craftsmanship, intricate detailing, customisation, and design execution. Its product portfolio comprises a wide variety of jewellery, including bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings, and combination jewellery sets.

The Company offers jewellery across various design and finishing categories, including antique, semi-antique, Calcutta, temple, gheru polish, yellow gold, rhodium-finished and rose gold jewellery. Its ability to customise designs and manufacture products according to specific customer requirements enables it to cater to diverse preferences and market segments.

Business Model and Manufacturing Operations

Shankesh Jewellers follows an asset-light manufacturing model, under which it engages skilled local karigars and jobworkers for various stages of jewellery manufacturing. The Company retains control over key functions such as design development, product specifications, sourcing of materials, quality supervision, customer coordination, and final delivery.

This operating model enables the Company to access specialised craftsmanship while maintaining operational flexibility and managing its manufacturing requirements according to customer orders and product specifications. The Company works closely with experienced artisans who possess expertise in traditional handcrafted jewellery techniques, thereby supporting the production of intricate and customised designs.

In addition to selling its own handcrafted jewellery, the Company also undertakes customised job work services for customers. Under this arrangement, customers may provide the required gold bullion along with specific designs, specifications or other product requirements, and the Company undertakes the manufacturing and execution of the jewellery based on those instructions.

Product Portfolio

The Company's business is broadly classified into the following two segments:

1. Sale of Handcrafted Gold Jewellery
The Company manufactures and supplies handcrafted jewellery primarily in 22-karat and 18-karat gold. Its product range includes:

• Bangles
• Bridal jewellery
• Chokers
• Jhumkas and earrings
• Necklace sets
• Mangalsutras
• Rings
• Combination and jewellery sets
• Other customised gold jewellery

The products are manufactured in various traditional and contemporary designs and finishes, including antique, semi-antique, Calcutta, temple, gheru polish, yellow gold, rhodium and rose gold finishes.

2. Customised Job Work Services
The Company undertakes jewellery manufacturing on a job-work basis, wherein customers provide the bullion and design specifications. Shankesh Jewellers undertakes the required manufacturing and craftsmanship to convert the customer-provided bullion into finished jewellery in accordance with the prescribed design and specifications.

Customer Base and Distribution Network

Shankesh Jewellers has developed a PAN-India customer and distribution network, supplying its products to both corporate and non-corporate customers. Over the years, the Company has established business relationships with several reputed jewellery retailers and established jewellery houses.

Its clientele includes prominent industry players such as Joyalukkas India Limited, P. N. Gadgil & Sons Limited, Kalyan Jewellers India Limited, Novel Jewels Limited (Aditya Birla Group), and Manoj Vaibhav Gems 'N' Jewellers Limited, among other established jewellery businesses.

The Company's relationships with leading jewellery brands reflect its ability to cater to institutional customers requiring consistent product quality, customised designs, timely execution, and reliable supply.

Quality and Compliance

The Company places emphasis on the quality, craftsmanship and authenticity of its jewellery products. Its gold jewellery is BIS-hallmarked in accordance with applicable regulatory requirements, providing customers with assurance regarding the purity of the gold used in the jewellery.

The Company's involvement across design, material sourcing, production coordination and final delivery enables it to maintain oversight of the manufacturing process and fulfil customer-specific requirements.