Shankesh Jewellers IPO GMP Today

Shankesh Jewellers Limited is engaged in the business of hand-crafted gold jewellery and provides jewellery customisation and job work services. The company offers 22-karat and 18-karat gold jewellery, including bangles, bridal jewellery, chokers, jhumkas, necklace sets, mangalsutras, rings and combined jewellery sets. Its portfolio includes antique, semi-antique, Calcutta, temple, Gheru polish, and yellow, rhodium, and rose gold jewellery. The company follows an asset-light model and does not manufacture jewellery in-house. Production is outsourced to specialised karigars through third-party job workers, while the company manages designing, material sourcing, customisation and delivery of finished jewellery. Shankesh Jewellers operates from its office in Mumbai, Maharashtra, and supplies its products to corporate and non-corporate clients across India. Its customer network spans 21 states and four Union Territories. Use of proceeds: This is a combination of a fresh issue of shares and an offer for sale. Therefore, the net proceeds from the offer for sale will go to the selling shareholders, whereas the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company — Rs 158 crore Funding working capital requirements of the company — Rs 38 crore General corporate purposes