Shivani Nyati Shares Swastika Investmart’s View as Shankesh Jewellers Lists at 11% Premium

Shankesh Jewellers shares made a stronger-than-expected debut, listing at ₹103.30 on NSE, representing an 11.08% premium over the IPO price of ₹93. On BSE, the shares debuted at ₹102.20, up 9.89%. Ahead of the listing, the GMP stood at only ₹2.75 per share, indicating a potential premium of roughly 3%, meaning the actual debut substantially exceeded grey-market expectations. 

Shivani Nyati, Head of Wealth at Swastika Investmart, highlighted the company's strong financial performance and healthy RoE of around 51% as positives supporting its growth positioning. At the same time, she flagged the working-capital-intensive nature of the jewellery business, debt/equity of around 0.8x and the benefit that profitability had received from favourable inventory gains amid elevated gold prices. 

Nyati's view remained positive on the business and medium-term growth prospects, while advising existing allottees to hold with a stop-loss of ₹95 and fresh investors to consider entering on meaningful dips rather than chasing the stock after its debut. 

Featured In

• Business Standard: Shankesh Jewellers shares list at 11% premium, beat expectations
• The Hindu Business Line: Shankesh Jewellers, Sunshine Pictures make a decent debut with 2% listing gains
• Business Standard Hindi: Shankesh Jewellers IPO Listing: कमजोर GMP के बावजूद आईपीओ का शानदार डेब्यू, पहले ही दिन निवेशकों को मिला 11% प्रीमियम

About Swastika Investmart

Swastika Investmart Limited is a SEBI-registered stockbroking and financial services company. The company provides investment research and market-related services across India's capital markets. Its research professionals cover IPOs, equities, listed companies and sector developments. Swastika Investmart's wealth and research teams provide market perspectives for investors evaluating listed and unlisted opportunities. The company's research coverage combines company fundamentals, valuation considerations and market trends when assessing investment opportunities.