Shanti Gold International IPO is a book building of ₹360.11 crores. The issue is entirely a fresh issue of 1.81 crore shares.
Shanti Gold International IPO opens for subscription on July 25, 2025 and closes on July 29, 2025. The allotment for the Shanti Gold International IPO is expected to be finalized on Wednesday, July 30, 2025. Shanti Gold International IPO will be list on BSE, NSE with a tentative listing date fixed as Friday, August 1, 2025.
Shanti Gold International IPO price band is set at ₹189 to ₹199 per share. The lot size for an application is 75. The minimum amount of investment required by an retail is ₹14,175 (75 shares). The lot size investment for sNII is 14 lots (1,050 shares), amounting to ₹2,08,950, and for bNII, it is 68 lots (5,100 shares), amounting to ₹10,14,900.
Choice Capital Advisors Pvt Ltd is the book-running lead manager of the Shanti Gold International IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Shanti Gold International IPO RHP for detailed information.
Shanti Gold International IPO Details
| IPO Date | July 25, 2025 to July 29, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹189 to ₹199 per share |
| Lot Size | 75 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 1,80,96,000 shares (aggregating up to ₹360.11 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,40,00,000 shares |
| Share Holding Post Issue | 7,20,96,000 shares |
Shanti Gold International IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than 15% of the Net Issue |
Shanti Gold International IPO Timeline (Tentative Schedule)
Shanti Gold International IPO opens on July 25, 2025, and closes on July 29, 2025.
| IPO Open Date | Fri, Jul 25, 2025 |
| IPO Close Date | Tue, Jul 29, 2025 |
| Tentative Allotment | Wed, Jul 30, 2025 |
| Initiation of Refunds | Thu, Jul 31, 2025 |
| Credit of Shares to Demat | Thu, Jul 31, 2025 |
| Tentative Listing Date | Fri, Aug 1, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 29, 2025 |
Shanti Gold International IPO Lot Size
Investors can bid for a minimum of 75 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 75 | ₹14,925 |
| Retail (Max) | 13 | 975 | ₹1,94,025 |
| S-HNI (Min) | 14 | 1,050 | ₹2,08,950 |
| S-HNI (Max) | 67 | 5,025 | ₹9,99,975 |
| B-HNI (Min) | 68 | 5,100 | ₹10,14,900 |
Shanti Gold International IPO Promoter Holding
Pankajkumar H Jagawat, Manojkumar N Jain and Shashank Bhawarlal Jagawat are the promoters of the company.
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue | 74.89% |
About Shanti Gold International Ltd.
Incorporated in 2003, Shanti Gold International Limited is engaged in the business of manufacturing gold jewellery. The company manufactures high-quality 22kt CZ casting gold jewellery, specialising in design and production.
The company offers a wide range of high-quality, intricately designed jewelry, including bangles, rings, necklaces, and sets, suitable for special occasions, weddings, festive events, and daily wear at various price points.
The company has an in-house manufacturing setup for design, production, and packaging, ensuring quality control. It uses advanced machines and outsourced labour for tasks like manual stone setting, ensuring precision and craftsmanship.
The company has a 13,448.86 square feet manufacturing facility in Andheri East, Mumbai, and has an annual production capacity of 2,700 kg, enabling precise and efficient jewelry production.
The company team of 80 computer-aided design technology (CAD) designers creates over 400 gemstone-studded CZ gold designs monthly, using advanced CAD technology to craft intricate pieces.
The company has established long-term relationships with several jewelry businesses, including corporate brands like Joyalukkas, Lalitha Jewellery, Alukkas Enterprises, Vysyaraju Jewellers, and Shree Kalptaru Jewellers, among others.
The company began operations in 2003 and has expanded to 15 states and one union territory by May 31, 2025, with branches in major cities like Mumbai, Bangalore, Chennai, and Hyderabad.
Product portfolio:
The company offers a variety of intricately designed jewellery, including bangles, rings, necklaces, and complete sets. It caters to different price ranges, providing jewellery for special occasions like weddings, as well as for festive and daily wear.
As of May 31, 2025, we had a total of 222 employees on our payroll and 100 contract labourers.
Competitive Strengths:
- Wide range of jewelry designs driven by a team of experts
- Complete in-house manufacturing: Ensuring quality at every step
- Experienced Promoters with execution capabilities
- Financially stable business model
- Established relations with corporate and jewellery businesses
Company Financials
Shanti Gold International Ltd.'s revenue increased by 56% and profit after tax (PAT) rose by 108% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 419.83 | 325.40 | 256.88 |
| Revenue | 1,112.47 | 715.04 | 682.28 |
| Profit After Tax | 55.84 | 26.87 | 19.82 |
| EBITDA | 97.71 | 53.45 | 45.57 |
| Net Worth | 152.37 | 96.67 | 69.81 |
| Total Borrowing | 233.00 | 210.68 | 165.34 |
| Amount in ₹ Crore | |||
Key Performance Indicator (KPI)
The market capitalization of Shanti Gold International IPO is ₹1434.71 Cr.
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROCE | 25.70% |
| Debt/Equity | 1.60 |
| RoNW | 44.85% |
| PAT Margin | 5.05% |
| EBITDA Margin | 8.83% |
| Price to Book Value | 7.05 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.34 | 7.75 |
| P/E (x) | 19.24 | 25.69 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2025 that is available in RHP.
Objects of the Issue (Shanti Gold International IPO Objectives)
The Company Shanti Gold International IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Funding of capital expenditure requirements towards setting up of the Proposed Jaipur Facility | 46.30 |
| 2 | Funding working capital requirements of our Company | 200.00 |
| 3 | Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company | 17.00 |
| 4 | General corporate purposes |