The Rs 367.18-crore initial public offering (IPO) of Mumbai-based B2B jewellery company Shankesh Jewellers entered its second day of bidding on August 19, with investor interest showing signs of improvement. In the grey market, the IPO is currently commanding a 5 per cent premium, up from around 2 per cent earlier. While the premium points to expectations of a modestly positive listing, it also suggests that investors should not expect blockbuster listing gains.
On the first day of bidding, the issue was subscribed 36 per cent overall. The retail portion saw stronger demand, with subscription reaching 53 per cent against the shares offered in that category.
