Shanti Gold International IPO
GMP, Subscription, Price, Dates & Financial Details
Diamond & Jewellery
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…
Open Date
Fri, 25 Jul 2025
Close Date
Tue, 29 Jul 2025
Price Band
₹ 189 – 199
Lot Size
75
Issue Size
₹ 360.11 Cr
Minimum Investment
₹ 14,925 (75 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Shanti Gold International IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹360.11 Crore, comprising a fresh issue of 1.81 Crore equity shares aggregating to ₹360.11 Crore.
The Shanti Gold International IPO remained open for subscription from July 25, 2025, to July 29, 2025. The basis of allotment was finalized on July 30, 2025, and the company's shares were listed on the NSE and BSE on August 01, 2025.
The company had fixed the price band at ₹189 to ₹199 per share, with a lot size of 75 shares. Retail investors were required to make a minimum investment of ₹14,925 (based on the upper price band) to apply for one lot.
Bigshare Services Pvt Ltd served as the registrar to the issue. Choice Capital Advisors Pvt Ltd acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Shanti Gold International Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Shanti Gold International IPO Timeline (Tentative)
- IPO Open Date
- Fri, 25 Jul 25
- IPO Close Date
- Tue, 29 Jul 25
- Basis of Allotment
- Wed, 30 Jul 25
- Initiation of Refunds
- Thu, 31 Jul 25
- Credit of Shares to Demat
- Thu, 31 Jul 25
- Listing Date
- Fri, 01 Aug 25 — NSE & BSE
Open Date
25 July 2025
Close Date
29 July 2025
Basis Of Allotment
30 July 2025
Listing Date
01 August 2025
IPO Subscription
Check Live Subscription →The Shanti Gold International IPO has received bids for 1,02,81,98,775 shares against 1,26,67,200 shares offered, resulting in an overall subscription of 81.17x. the NII category is subscribed 151.48x, Retail Investors 30.37x, and QIBs 117.33x. Within the NII category, BNII is subscribed 173.08x, while SNII is subscribed 108.28x.
QIB
117.33x
NII
151.48x
BNII
173.08x
SNII
108.28x
RII
30.37x
Total
81.17x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 63,33,600 shares, representing 50% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 36,19,200 shares (28.57%), while Non-Institutional Investors (NIIs) receive 27,14,400 shares (21.43%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 3,619,200 | 28.57% |
| Non-Institutional | 2,714,400 | 21.43% |
| BNII | 1,809,600 | 14.29% |
| SNII | 904,800 | 7.14% |
| Retail Investors | 6,333,600 | 50% |
| Total | 12,667,200 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Shanti Gold International Limited KPI Information
| Particular | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROCE % | 25.7 | 17.97 | 19.36 |
| Debt / Equity | 1.6 | 2.18 | 2.37 |
| RoNW % | 44.85 | 32.28 | 33.08 |
| Pat Margin % | 5.05 | 3.78 | 2.92 |
Peers Comparison
| 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 |
About Shanti Gold International Limited
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
Shanti Gold International IPO Promoters
- Pankajkumar H Jagawat
- Manojkumar N Jain
- Shashank Bhawarlal Jagawat
Promoters Holding
Holding Pre Issue
99.98%
Holding Post Issue
74.89%
Shanti Gold International IPO Objective
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.
Shanti Gold International Limited Address / Contact Details
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
Shanti Gold International IPO Lot Size
The Shanti Gold International IPO has a lot size of 75 shares. Retail investors require a minimum investment of ₹14,925 by applying for 1 lot (75 shares). The maximum application allowed for the retail category is 13 lots (975 shares), requiring an investment of ₹1,94,025.
| 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 |
Issue Reservation
- QIB — 28.57%
- NII — 21.43%
- RII — 50%
Book Running Lead Managers
- Choice Capital Advisors Pvt Ltd
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Shanti Gold International IPO?
Shanti Gold International IPO is a Book-building IPO with a total issue size of ₹360.11 crore. The Shanti Gold International IPO price band is ₹189 to 199 per share. The Shanti Gold International IPO subscription opens on Fri, Jul 25, 2025, and closes on Tue, Jul 29, 2025. The Shanti Gold International IPO will be listed on the BSE,NSE. Bigshare Services Pvt Ltd is the registrar for the Shanti Gold International IPO.
When will the Shanti Gold International IPO open for subscription?
The Shanti Gold International IPO opens on Fri, Jul 25, 2025 and closes on Tue, Jul 29, 2025
What is Shanti Gold International IPO Price Band?
Shanti Gold International IPO Price Band is ₹189 to 199 per share.
What is Shanti Gold International IPO Lot Size?
Shanti Gold International IPO lot size is 75 shares, Retail investors need a minimum investment of ₹14925 based on the upper price band
What is the minimum investment for Shanti Gold International IPO?
The minimum investment for Shanti Gold International IPO is ₹14925, based on one lot of 75 shares at the upper price band of ₹199 per share.
How to apply for Shanti Gold International IPO?
Investors can apply for the Shanti Gold International IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Tue, Jul 29, 2025. The application amount remains blocked until the Shanti Gold International IPO allotment is finalized.
What is Shanti Gold International IPO Issue Size?
Shanti Gold International IPO issue size is ₹360.11 crores.
What is the Shanti Gold International IPO Allotment Date?
Shanti Gold International IPO allotment date is Wed, Jul 30, 2025.
Who is the Shanti Gold International IPO Registrar?
The registrar for Shanti Gold International IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website to check Shanti Gold International IPO allotment status, refund processing, and other IPO-related information.
What is the Shanti Gold International IPO GMP?
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 17.09% over the issue price.
Who is the Shanti Gold International IPO Lead Manager?
The book-running lead managers (BRLMs) for the Shanti Gold International IPO are Choice Capital Advisors Pvt Ltd. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Shanti Gold International IPO Red Herring Prospectus (RHP).