Shanti Gold International Limited IPO Summary
Key Points
IPO Details
Price: ₹189–₹199 | Size: ₹360.11 Cr | Dates: Jul 25–29, 2025
Grey Market Premium (GMP)
₹30 per share as of July 19, 2025, indicating strong demand.
Financials (FY24)
Revenue: ₹715.04 Cr | Profit: ₹26.87 Cr. Shows consistent growth.
Credit Rating
IVR BBB+ (Stable) & IVR A2, indicating moderate financial stability.
What is Shanti Gold International Limited's IPO?
Shanti Gold International Limited, a Mumbai-based jewellery manufacturer, is launching its Initial Public Offering (IPO) to raise funds for expansion and operational needs. The company specializes in high-quality 22kt CZ casting gold jewellery.
The IPO aims to raise approximately ₹360.11 crores by issuing 1,80,96,000 new equity shares. The proceeds are earmarked for a new facility in Jaipur, working capital, debt repayment, and general corporate purposes.
IPO Details
| Attribute | Details |
|---|---|
| IPO Open Date | July 25, 2025 |
| IPO Close Date | July 29, 2025 |
| Price Band | ₹189 – ₹199 per share |
| Issue Size | ~₹360.11 Crores (1,80,96,000 shares) |
| Issue Type | 100% Fresh Issue |
| Retail Quota | 35% of the offer |
| Allotment Date | July 30, 2025 |
| Listing Date | August 1, 2025 |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Pvt Ltd |
IPO Objectives (Use of Proceeds)
Financial Performance
Shanti Gold has demonstrated consistent growth in both revenue and profitability over the last fiscal year.
Financial Data
| Financial Year | Revenue (₹ Crores) | PAT (₹ Crores) |
|---|---|---|
| FY23 | 682.28 | 19.82 |
| FY24 | 715.04 | 26.87 |
| Annualized (Projected) | 1,011.80 | 36.48 |
Growth Visualization
Strengths
- Diversified Product Portfolio: Wide range of 22kt CZ gold jewelry for various occasions.
- In-House Production: Ensures end-to-end quality control and operational efficiency.
- Experienced Leadership: Promoters bring over 20 years of industry experience.
- Growing Market: Positioned to capitalize on the 9.7% CAGR of the Indian jewellery market.
Risks to Consider
- TDS Payment Delays: A history of delays in Tax Deducted at Source payments may indicate fiscal management issues.
- Manufacturing Dependence: High reliance on a single facility in Mumbai poses operational risks.
- Skilled Workforce: Dependency on skilled artisans; their departure could impact quality.
- Regulatory Compliance: Potential for fines due to environmental law infringements.
- Currency Fluctuations: Volatility in exchange rates can affect international sales.
How to Check Allotment & Subscription Status
The IPO has not opened yet. After it opens on July 25, 2025, you can track subscription status on portals like Chittorgarh or Zerodha.
The basis of allotment will be finalized on July 30, 2025. Applicants can check their allotment status on the registrar's website, Bigshare Services Pvt Ltd, by providing their application details.
Company & Filing Information
Company Background
Founded in 2003, Shanti Gold is a leading manufacturer of 22kt CZ casting gold jewellery based in Mumbai. The company utilizes CAD technology and an integrated in-house manufacturing process to maintain quality and design innovation.
Promoters
The company is promoted by Pankajkumar H Jagawat, Manojkumar N Jain, and Shashank Bhawarlal Jagawat, who have extensive experience in the jewellery industry.
Filing Updates
The company filed its Draft Red Herring Prospectus (DRHP) on January 13, 2025, and its Red Herring Prospectus (RHP) on July 17, 2025, with SEBI, BSE, and NSE.
Conclusion
Shanti Gold International Limited's IPO presents an opportunity to invest in a growing player in India's robust jewellery market. The company's strong fundamentals, experienced promoters, and strategic expansion plans are positive indicators. The Grey Market Premium reflects optimistic market sentiment.
However, investors must carefully weigh the associated risks, including operational dependencies and regulatory compliance. As the IPO date approaches, it is advisable to monitor subscription trends and consult with a financial advisor to make an informed decision aligned with your investment goals.
