Shankara Building Products was supposed to be India’s Home Depot, a one-stop shop for home-improvement and building-material products. Investors saw in the company a convergence of two themes — home-construction products and retail. Shankara had its IPO around the same time as DMart and got listed two weeks after the grocery retailer. Both DMart and Shankara are organised retail players in largely unorganised markets. Both went public in 2017
Business News›Prime›Infra›From INR460 a share to INR2,365, and then a tumble: deconstructing the undoing of Shankara Buildpro
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From INR460 a share to INR2,365, and then a tumble: deconstructing the undoing of Shankara Buildpro
![From INR460 a share to INR2,365, and then a tumble: deconstructing the undoing of Shankara Buildpro](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="1015" height="761"><rect fill-opacity="0"/></svg>)
A construction worker at a site
Synopsis
After a stellar listing and an impressive bull run, the stock of the home-improvement and building-products retailer corrected sharply. The company is grappling with a slew of issues, including the business model itself, swings in strategy, dissonance between numbers and the situation on the ground besides questionable corporate governance.
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