The Shanti Gold International IPO is a book-built issue worth βΉ360.11 crores, entirely comprising a fresh issue of 1.81 crore equity shares. This much-awaited IPO opens for subscription on July 25, 2025, and will close on July 29, 2025.
The IPO price band is fixed between βΉ189 to βΉ199 per share. Investors can bid in a lot size of 75 shares, making the minimum retail investment βΉ14,175.
For high net-worth individuals:
- sNII (small NII) minimum application: 14 lots (1,050 shares) = βΉ2,08,950
- bNII (big NII) minimum application: 68 lots (5,100 shares) = βΉ10,14,900
The allotment for the Shanti Gold International IPO is likely to be finalized on Wednesday, July 30, 2025. The shares are proposed to be listed on both the BSE and NSE, with a tentative listing date of Friday, August 1, 2025.
Investors and market watchers are keeping a close eye on this IPO, given the companyβs strong presence in the gold trading industry and the solid market response expected.
Shanti Gold International IPO Details
| General | Detail |
|---|---|
| IPO Date | July 25, 2025 to July 29, 2025 |
| Listing Date | [.] |
| Face Value | βΉ10 per share |
| Issue Price Band | βΉ189 to βΉ199 per share |
| Lot Size | 75 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 1,80,96,000 shares (aggregating up to βΉ360.11 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 Timeline
| IPO Timeline | Dates |
|---|---|
| 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 place bids starting with a minimum of 75 shares and in multiples thereafter. The table below outlines the minimum and maximum investment limits for both retail individual investors and High Net-Worth Individuals (HNI), showing the required number of shares and corresponding investment amounts in the Shanti Gold International IPO.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 75 | βΉ14,925 |
| Retail (Max) | 13 | 975 | βΉ1,94,025 |
| S-HNI (Min) | 14 | 1,050 | βΉ2,08,950 |
| S-HNI (Max) | 67 | 5,025 | βΉ9,99,975 |
| B-HNI (Min) | 68 | 5,100 | βΉ10,14,900 |
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% |
Note: The equity dilution will be calculated using the formula:
Equity Dilution = Shareholding (Pre-Issue) β Shareholding (Post-Issue).
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 |
About Shanti Gold International IPO
Shanti Gold International Ltd. was established in 2003 in Mumbai as a partnership firm and later incorporated as a public limited company on November 1, 2013. It began with a small factory catering to North India and gradually expanded. Over time, the company formalized its operations and grew into a leading manufacturer of gold jewellery, now heading toward the highly anticipated Shanti Gold International IPO.
The company is known for its expertise in designing and manufacturing premium 22 kt CZ casting gold jewellery. It caters to both retail and corporate clients. Shanti Gold International Ltd. blends traditional craftsmanship with modern CAD-based designs, launching over 400 unique jewellery pieces every month. These include bangles, rings, chokers, necklace sets, and bridal collections.
Their state-of-the-art manufacturing facility is located in Andheri East, Mumbai, spread over 13,448 sq. ft. It has an annual production capacity of approximately 2,700 kg of jewellery. With a team of more than 80 CAD designers and skilled artisans, the company serves customers across 15 Indian states and exports to countries like the UAE, Singapore, Qatar, and the USA.
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Financially, Shanti Gold International Ltd. has shown consistent growth. Its revenue increased from βΉ715 crore in FY24 to βΉ1,112 crore in FY25. Net profit jumped from βΉ26.9 crore to βΉ55.8 crore, reflecting a 108% growth. The company has maintained strong return ratios with ROCE at 25.7% and RoNW at 44.85%, signaling a healthy and efficient business model.
As part of its expansion strategy, the company filed a Draft Red Herring Prospectus (DRHP) with SEBI to raise βΉ360.11 crore through a fresh issue. The Shanti Gold International IPO opens for subscription from July 25 to July 29, 2025. Allotment is expected on July 30, with listing scheduled on BSE and NSE on August 1, 2025.
The IPO price band has been fixed at βΉ189 to βΉ199 per share, with a minimum bid lot of 75 shares. Retail investors can invest starting at βΉ14,175. The equity dilution due to the IPO will reduce promoter shareholding from approximately 99.98% to 74.89%, signaling a strong post-issue free float in the market.
Proceeds from the Shanti Gold International IPO will be utilized for setting up a new manufacturing unit in Jaipur, working capital needs, debt repayment, and general corporate purposes. This strategic move is expected to strengthen the companyβs position in both domestic and international markets.
Products
- 22 kt CZ casting gold jewellery
- Bangles, rings, chokers, pendant sets, necklace sets
- Bridal and festive jewellery collections
- Lightweight daily-wear gold jewellery
- BIS-hallmarked items with HUID traceability
Company Strengths
- Fully in-house manufacturing with vertical integration
- 400+ new CAD designs produced every month
- Modern facility with 2,700 kg annual capacity
- Strong financial performance and consistent profit growth
- Experienced promoters with 20+ years in the gold industry
- Widespread market presence across 15 Indian states and global exports
Company Financials
Shanti Gold International Ltd. Financial Information
| 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 βΉ Crore | |||
Key Performance Indicator (KPI)
| 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 the pre-issue shareholding as mentioned in the Red Herring Prospectus (RHP) and the latest audited earnings for the financial year ended March 31, 2025.
- The Post-Issue EPS is derived using the post-issue shareholding and the annualized earnings for FY ending March 31, 2025, as disclosed in the RHP.
Objects of the Issue
| S.No. | Objects of the Issue | Expected Amount (βΉ 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 |
Shanti Gold International IPO Contact Details
Shanti Gold International Ltd. Contact Details
- Shanti Gold International Ltd.
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/
Shanti Gold International IPO Registrar
- Bigshare Services Pvt Ltd
- Phone: +91-22-6263 8200
- Email: ipo@bigshareonline.com
- Website: https://ipo.bigshareonline.com/IPO_Status.html
- Fresh issue: βΉ360.11 crore (1.81 crore equity shares)
- Offer for Sale (OFS): None
- IPO Opens: July 25, 2025
- IPO Closes: July 29, 2025
- Allotment Date: July 30, 2025
- Listing Date (Tentative): August 1, 2025
- Price Band: βΉ189 to βΉ199 per share
- Lot Size: 75 shares
- Minimum Retail Investment: βΉ14,175
- Setting up a new manufacturing unit in Jaipur
- Working capital requirements
- Repayment of certain borrowings
- General corporate purposes
- Retail Investors: Minimum 1 lot (75 shares) β βΉ14,175
- sNII (Small HNI): Minimum 14 lots (1,050 shares) β βΉ2,08,950
- bNII (Big HNI): Minimum 68 lots (5,100 shares) β βΉ10,14,900