Thursday saw two public issues — Shankesh Jewellers and Sunshine Pictures — close for subscription, with the latter receiving an overwhelming response from all categories of investors, while the Mumbai-based jeweller experienced only a moderate response.
The ₹282-crore initial public offering (IPO) of Sunshine Pictures was subscribed 105.81 times, with the non-institutional (HNI) portion receiving bids 197 times the allotted quota. The portion reserved for qualified institutional buyers (QIBs) was subscribed 123.52 times, while retail investors subscribed 56.60 times.
The IPO was launched with a price band of ₹342-360 and consisted of a fresh issue of ₹172.80 crore and an offer-for-sale (OFS) of ₹109.34 crore.
The company plans to use the net proceeds from the fresh issue to fund its working capital requirements and for general corporate purposes.
Vipul Shah and his wife, Shefali-promoted Sunshine Pictures, had raised ₹84.64 crore from anchor investors a day before the IPO.
Shankesh
The issue of Shankesh Jewellers was subscribed 2.80 times, led by non-institutional investors (NIIs) at 5.68 times and retail investors at 2.42 times. However, the Qualified Institutional Buyers (QIB) portion was subscribed just 1.32 times.
The issue that hit the market with a price band of ₹88-93 was a combination of fresh issue (₹274 crore) and an OFS (₹93 crore). The jewellery retailer had raised ₹110.15 crore from anchor investors ahead of the IPO. Proceeds from the fresh issue will be used for repayment or pre-payment of borrowings, funding working capital requirements and general corporate purposes.
Shankesh Jewellers Ltd is a B2B jewellery company engaged in handcrafted gold jewellery and customisation services for clients across India.
Published on August 20, 2026
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