Shankesh Jewellers IPO: How to check your application status, odds of allotment, latest GMP & more

Shankesh Jewellers is likely to finalise the basis of allotment of its shares on Friday, August 20. Applicants are expected to receive messages, alerts or emails regarding allotment and the debit of funds either on Friday or latest by weekend. The handcrafted jewellery company received a muted response from investors during the three-day bidding period.

The IPO of Shankesh Jewellers was open for subscription between August 18 and August 20. The company offered its shares in the price band of Rs 88-93 per share, with a lot size of 150 equity shares. The company raised around Rs 367 crore through the public issue, which included a fresh share sale of Rs 274 crore and offer-for-sale (OFS) of up to 1 crore equity shares worth Rs 93 crore.

The issue received strong demand across investor categories and was subscribed only 2.80 times overall with more than 1.68 lakh applications valuing for only at Rs 720 crore. The QIB portion was subscribed over 1.32 times, while the NII portion was booked 5.68 times and retail portions a demand for 2.42 times during the bidding.

The grey market premium (GMP) of Shankesh Jewellers has remained fragile following the muted subscription response. The stock was last commanding a GMP of around Rs 3-5 per share, indicating a potential listing premium of about 4-6 per cent over the upper end of the issue price. GMP, however, is an unofficial indicator and does not guarantee listing gains.

Incorporated in 2005, Mumbai-based Shankesh Jewellers is engaged in the business of manufacturing and providing customised handcrafted gold jewellery. It specialises in 22-karat and 18-karat gold jewellery, offering a wide product portfolio including bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings, and combined sets across categories.

Aryaman Financial Services is the book running lead manager of Shankesh Jewellers IPO and Kfin Technologies is the registrar of the issue. Refund of the bidding amount shall be done on Monday, August 24 or over the weekend. Shares of the company shall be listed on both BSE and NSE on Tuesday, August 25.

Investors, who had bid for the issue of Shankesh Jewellers, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Shankesh Jewellers Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button  

Similarly, one can also check the allotment status on NSE website also (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘SHANKESH’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.  

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

• Go to the web portal of KFin Technologies Limited
• Select the IPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.