Shankesh Jewellers IPO Day 3 Subscription Status: Issue Subscribed 1.01 Times So Far 

Mumbai, August 20: The Shankesh Jewellers IPO entered its final day of bidding on Thursday, with the issue fully subscribed by 10:13 AM. The ₹367.18 crore public issue received bids for 2,79,48,800 shares against 2,76,38,000 shares on offer, taking the overall subscription to 1.01 times. 

The IPO opened for subscription on August 18 and is scheduled to close today, August 20. The price band has been fixed at ₹88 to ₹93 per share, with investors required to bid for a minimum of 160 shares. At the upper end of the price band, the minimum retail investment stands at ₹14,880. 

Shankesh Jewellers IPO Day 3 Subscription Status 

As of 10:13 AM on August 20, the IPO had received 77,013 applications. Retail investors led the subscription among the main investor categories, with their portion subscribed 1.23 times. 

The NII portion stood at 0.84 times, while the QIB category excluding the anchor portion was subscribed 0.76 times. 

The anchor investor portion, comprising 1,18,44,600 shares, had been subscribed separately before the public issue opened. 

Shankesh Jewellers IPO  Day-Wise Subscription Summary 

Subscription picked up through the three-day bidding period. The issue was subscribed 0.36 times on Day 1 and 0.94 times by the end of Day 2 before crossing the one-times mark on the final day. 

Shankesh Jewellers IPO Timeline 

Brief Overview Of The IPO 

Shankesh Jewellers is a book-built IPO with a total issue size of ₹367.18 crore. The issue comprises a fresh issue of 2,94,82,000 shares aggregating to ₹274.18 crore and an offer for sale of 1,00,00,000 shares worth ₹93 crore at the upper end of the price band. 

The company has set the IPO price band at ₹88 to ₹93 per share. The lot size is 160 shares, making ₹14,880 the minimum application amount for retail investors at the upper price. 

Of the total issue, 50% is reserved for QIBs, 15% for NII investors and 35% for retail investors. The company is scheduled to finalise the basis of allotment on August 21, followed by refunds and credit of shares on August 24. The shares are proposed to be listed on both BSE and NSE on August 25. 

The IPO closes on August 20. Investors can therefore submit bids until the issue’s closing date, subject to the applicable bidding window. 

Conclusion 

The Shankesh Jewellers IPO has crossed the one-times subscription mark on its final bidding day, with the retail portion showing the strongest demand among the three main categories. The issue is scheduled to close on August 20, with the basis of allotment expected on August 21 and listing planned for August 25.  

Source: 

• https://www.nseindia.com/market-data/issue-information?symbol=SHANKESH&series=EQ&type=Active