Monitoring Agency Report

Registered Office: Floor G-1, Plot-211/213, Raja Bahadur Goverdhanlal Bansilal Building, Kalbadevi Road, Bhuleshwar, Mumbai 400002, Maharashtra, India CIN: L36910MH2005PLC154679 Website: www.shankeshjewellers.com Email: shankjewel@gmail.com, info@shankeshjewellers.com Date: November 5, 2026 To, To, Listing/Compliance Department Listing/Compliance Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block-G, Dalal Street, Mumbai – 400001 Bandra Kurla Complex, BSE Scrip Code: 544882 Bandra (E), Mumbai – 400051 NSE Symbol: SHANKESH ISIN: INE1WFC01025 Subject: Monitoring Agency Report for the Quarter ended 30th September, 2026 Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (“SEBI”) (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) read with Regulation 41(4) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, enclosed herewith is the Monitoring Agency Report for the quarter ended September 30, 2026 issued by Acuite Ratings and Research Limited (“Monitoring Agency”) in respect of utilisation of proceeds raised by way of the Public Issue of Equity Shares of the Company. The report is being made available on the Company’s website https://www.shankeshjewellers.com/ This is for your information and records. Yours truly, FOR SHANKESH JEWELLERS LIMITED (Formerly known as SHANKESH JEWELLERS PRIVATE LIMITED) SHWETA RAVANKAR COMPANY SECRETARY AND COMPLIANCE OFFICER Membership No: A68236 Acuite” RATINGS & RESEARCH Report of the Monitoring Agency (MA) for Quarter ended September 2024 Name of the issuer Shankesh Jewellers Limited For quarter ended September, 2026 Name of the Monitoring Agency Acuité Ratings and Research Limited (a) Deviation from the objects No Deviation is observed (b) Range of Deviation Not Applicable (c) Any other material fact to be highlighted None Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by if to be accurate and reliable. The MA does not perform an audit and underiakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on ihe MA which accepts no responsibilily, whalsoever, for loss or damage from fhe use of fhe said informafion. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and ony user of this report. The MA and its offiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or iis affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit-+relaied onalyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporiing the utilization of the issue proceeds by the issuer, or while Undertaking credit rating or other commercial transactions with the entity. We have submitted fhe report herewifh in fine with the forma prescribed by SEBi, capturing our comments, where applicable. There are certain sections of the report under the tifle “Comments of the Board of Directors”, that shall be captured by the Issuer's Management / Audit Committee Acuite” RATINGS & RESEARCH of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibilily for such comments of the issuer's Management/Board. Vi° kas Y bDyigviitaelelsy ys igned Mishra M S h [a Date: 2026.11.05 12:46:36 +05'30" Signature Signing Authority: Vikas Mishra Designation: Deputy Vice President - Process Excellence Report Date: November 05, 2024 Acuité Ratings & Research Limited SEBI Registered | RBI Accredifed 708, Lodho Supremus, Lodha iThink Techno Campus, Kanjurmarg (East}], Mumbai — 400 042 Work +91 99698 98000 | www.acuite.in | info@acuite.in | CIN: U74999MH2005PLC 155683 Certified Acuite~ RATINGS & RESEARCH Issuer Details 1.1 Name of the issuer Shankesh Jewellers Limited 1.2 Names of the promoter Mr. Kantilo] Kheemraj Join, Mr. Mahavir Kantilal Jain and Mr. Manoj Kantilal Jain 1.3 Promoters/Promoter Group 1.4 Industry/sector to which it belongs Gems, Jewellery and Watches/Consumer Durables Issue Details 2.1 Issue Perlod August 18, 2024 to August 20, 7024 2.2 Public Issue Type of issue 2.3 Type of specified securities Equity Shores 2.4 IFO Grading, if any 2.5 Issue size (INR Cr.) 367.18 (274.18 of Fresh Issue + 93.00 Offer for sale} Acuite” RATINGS & RESEARCH 3. Details of the arrangement made to ensure the monitoring of issue proceeds Source of information/certifications = Posticilers Renly from the lever considered by Maniodng Somat the Monitoring Sti the Issuer's Agency for preparation of sicdiartal " Srnniree report Whether oll utilization is os per the disclosures in Utilisotions in the object is as Yes per disclosures by the issuer. No Comments the Offer Document? Wheetthhe r shhaarreeh old er approva l hos 5 been Maternal deviati6 onont 2 obtcined in case of maternal deviations from NA Rees = NA expenditures disclosed in the Offer Document? : Whether the means of finance for the disclosed : 3 objects of the issue has ct ed? No No change is observed. No Comments This is the first and final MA report for ihe ssue. Accordingly. there are no is theré any major deviation observed over the earlier MA reports for 4 eorlier monitofing agency reports? hee comparison. No Comments the issuer. Bank Statement, GPPinted fo monitor the Invoices and Statutory objects of the issue. ‘ : No Govemment / Statutory 5 Wheiher all Govemment/statutory approvals NA Auditors Certificate issued ali ved | NA related to the object(s) have been obtained? by M/s V J Shah & Co, ee is requ or Whether all arrangements pertaining to bb alk ands selpoadale fo 6 technical assistance/collaboration are in NA . i Baldi recul sed waih NA operation? reference to the object. - : No favourable event is 7 ATE there rtd favorable . vents improving ihe No observed thal may improve No Comments watoiity of hese object(s}s the viabiity of these objects : No unfavourable event is rs] Sa ay stale events affecting the No observed affecting the No Comments i viabiily of these objects. is there any other relevant information that heroes Nolreliba Mintle 9 may materially affect the decision making of No evden thal may motericty No Comments affect the decision making of the investors? the investors. Acuite” RATINGS & RESEARCH 4. Details of object(s) to be monitored: Il. Cost of object(s): Source of Original cost Sr information/certiications —_ (as per the Revised Ea a are Comments of the Issuer's Audit Committee ee ltem Head considered by Monitoring Offer Cost Aebopeaig : Agency for preparation of = Document) (INR Cr.) ng sgency Reasonof Proposed Particulars of firm report (INR Cr.) Cost financing arrangement revision option Repayment of Working ; Capral Loon Documents provided by 158.00 = No Comments Incremental Working Capital the issuer, Bank Z Requirement Statement, Invoices and a0) "No change is No Comments Statutory Auditors observed 3 General Comorate Purpos e Certi: ficate zi ssued by M/s 54.; 94 - No Comments Total 274.18 = Timelines for utilization of Issue Proceeds: Sr.No. tiem Head Tentative timelines for utilization of Issue Proceeds esa from the dote of receipt of funds | Repayment of Working Copital Loan 2 Incremental Working Capital Requiremen [Showing first 8,000 characters — download PDF for full document]