Shanti Gold International IPO
Open MainLineCurrent GMP
₹34 (+17.09%)
Price Band
₹ 189 – 199
Lot Size
75
Issue Size
₹360.11 Cr
Minimum Investment
₹14925 (75 Shares)
Listing Date
01 August 2025
Subscription
81.17x
About the Company
Established in 2003, Shanti Gold International Limited is a leading Indian manufacturer of high-quality 22kt CZ casting gold jewellery, specializing in the design and production of intricately crafted bangles, rings, necklaces, and complete jewellery sets. The company caters to diverse price points for weddings, festive occasions, and daily wear.
Manufacturing Capabilities:
- Fully integrated in-house manufacturing facility in Andheri East, Mumbai, spanning 13,448.86 sq. ft.
- Annual installed production capacity of 2,700 kg
- Advanced machinery (casting machines, induction melters, etc.) and skilled outsourced labour for manual stone setting
- 79 CAD designers producing 400+ new designs monthly
Product Portfolio:
Wide range of customizable CZ gold jewellery, including:
- Bangles, rings, necklaces, bridal sets
- Jewellery for special occasions, festive, and everyday use
Customer Base & Market Presence:
- Long-standing relationships with major corporate clients including Joyalukkas, Lalithaa Jewellery, Alukkas Enterprises, and more
- Presence across 15 states, 2 union territories in India and exports to four countries
- Expanded from one city in Maharashtra to major metros like Mumbai, Bangalore, Chennai, and Hyderabad
Strengths:
- Strong design capabilities backed by experienced promoters (20+ years in the industry)
- In-house quality control across the production cycle
- Broad market coverage and a stable customer network
- Financially robust with consistent growth trajectory
Expansion Plans:
- New manufacturing facility planned in Jaipur to support further growth and market penetration, especially in North India
Promoters
- Pankajkumar H Jagawat
- Manojkumar N Jain
- Shashank Bhawarlal Jagawat
Promoters Holding
Holding Pre Issue
99.98%
Holding Post Issue
74.89%
Objects of the Issue
The Company proposes to utilise the Net Proceeds towards funding of the following objects:
- Funding of capital expenditure requirements towards setting up of the Proposed Jaipur Facility
- Funding working capital requirements of the Company.
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company.
- General corporate purposes.
Address / Contact Info
Shanti Gold International Limited
Plot No A-51, 2nd Floor to 7th Floor, MIDC,
Marol Industrial Area, Road no.-1,
Near Tunga International Hotel,
Mumbai, Maharashtra, 400093
Phone: + 91 22 4824 964
Email: cs@shantigold.in
Website: https://shantigold.in/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Friday, 25 July 2025
IPO Close Date
Tuesday, 29 July 2025
Basis of Allotment
Wednesday, 30 July 2025
Initiation of Refunds
Thursday, 31 July 2025
Credit of Shares to Demat
Thursday, 31 July 2025
Listing Date
Friday, 01 August 2025 — NSE & BSE
Important Dates
Open Date
25 July 2025
Close Date
29 July 2025
Basis Of Allotment
30 July 2025
Listing Date
01 August 2025
Financial Performance (₹ in Crores)
| Particular | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 419.82 | 325.4 | 256.88 |
| Revenue | 1106.4 | 715.04 | 682.28 |
| Profit After Tax | 55.84 | 26.87 | 19.82 |
| Net Worth | 152.37 | 96.67 | 69.81 |
| Reserve & Surplus | 0 | 0 | 0 |
| Total Borrowings | 232.99 | 210.68 | 165.34 |
EPS Pre
10.34%
EPS Post
7.75%
P/E Pre
19.24
P/E (Post Issue)
25.69x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE % | 0 | 0 | 0 |
| ROCE % | 25.7 | 17.97 | 19.36 |
| Debt / Equity | 1.6 | 2.18 | 2.37 |
| RoNW % | 44.85 | 32.28 | 33.08 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 5.05 | 3.78 | 2.92 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 3619200 | 28.57 | 0 |
| Non-Institutional | 2714400 | 21.43 | 0 |
| BNII | 1809600 | 14.29 | 0 |
| SNII | 904800 | 7.14 | 0 |
| Retail Investors | 6333600 | 50 | 0 |
| Total | 12667200 | 100 | 0 |
Subscription Status ( Tue, 29 Jul 25 01:52 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 3619200 | 424633800 | 117.33x |
| Non-Institutional | 2714400 | 411186975 | 151.48x |
| BNII | 1809600 | 313213875 | 173.08x |
| SNII | 904800 | 97973100 | 108.28x |
| Retail Investors | 6333600 | 192378000 | 30.37x |
| Total | 12667200 | 1028198775 | 81.17x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Shanti Gold International | 10 | 0.00 | 10.34 | 10.34 | 44.85 | 28.22 |
| Utssav CZ Gold Limited | 10 | 19.35 | 11.63 | 11.63 | 30.94 | 53.23 |
| RBZ Jewellers Limited | 10 | 14.42 | 9.70 | 9.70 | 17.15 | 61.26 |
| Sky Gold Limited | 10 | 34.53 | 9.52 | 9.44 | 28.59 | 46.61 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 75 | 14,925.00 |
| Retail (Max) | 13 | 975 | 194,025.00 |
| S-HNI (Min) | 14 | 1,050 | 208,950.00 |
| S-HNI (Max) | 67 | 5,025 | 999,975.00 |
| B-HNI (Min) | 68 | 5,100 | 1,014,900.00 |
Registrar
Bigshare Services Pvt Ltd
91-22-6263 8200
investor@bigshareonline.com
https://www.bigshareonline.com
Book Running Lead Managers
- Choice Capital Advisors Pvt Ltd
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Shanti Gold International IPO is a Book-building IPO worth ₹360.11 crores. The price band is ₹189 to 199 per share. The IPO opens on Fri, Jul 25, 2025 and closes on Tue, Jul 29, 2025. It will be listed on BSE and NSE. Bigshare Services Pvt Ltd is the registrar.
The Shanti Gold International IPO opens on Fri, Jul 25, 2025 and closes on Tue, Jul 29, 2025
Shanti Gold International IPO Price Band is ₹189 to 199.
Shanti Gold International IPO lot size is 75, and the minimum amount required for application is ₹14925.
The minimum investment for Shanti Gold International IPO is approximately ₹14925 based on the upper price band.
To apply for the Shanti Gold International IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Tue, Jul 29, 2025. After submission, funds are blocked until the basis of allotment of Shanti Gold International IPO is finalised.
Shanti Gold International IPO issue size is ₹360.11 crores.
Shanti Gold International IPO allotment date is Sat, Jun 27, 2026.
The registrar for Shanti Gold International IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website for IPO allotment status, refund processing, and other queries related to Shanti Gold International IPO through their official website or helpline.
The Shanti Gold International IPO GMP (Grey Market Premium) is ₹34 as of Fri, Aug 1, 2025. Based on the upper price band of ₹199 per share, the estimated Shanti Gold International IPO listing price is ₹233, indicating a potential listing gain of approximately 31% over the issue price.