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Shanti Gold International IPO is a bookbuilt issue of Rs 360.11 crore. This issue is entirely a fresh issue of 1.81 crore shares with no offer for sale.
The IPO opens for subscription on July 25, 2025, and closes on July 29, 2025. The allotment is expected to be finalized on Wednesday, July 30, 2025. The price band for the IPO is set at ₹189 to ₹199 per share, and the minimum lot size for an application is 75 shares.
Company Summary
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.
Company 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
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 419.83 | 325.4 | 256.88 |
| Revenue | 1,112.47 | 715.04 | 628.28 |
| 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 | 210.68 | 165.34 |
| Amount in ₹ Crore | |||
Objectives of the IPO
- Funding of capital expenditure requirements towards setting up the Proposed Jaipur Facility
- Funding the working capital requirements of our Company
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company
- General corporate purposes
Promoters of the company
Pankajkumar H Jagawat, Manojkumar N Jain, and Shashank Bhawarlal Jagawat are the promoters of the company.
IPO Details
| IPO Date | July 25, 2025 to July 29, 2025 |
| Listing Date | August 1, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹189 to ₹199 per share |
| Lot size | 75 shares |
| Total Issue size | 1,80,96,000 (aggregating upto ₹360.11 Cr) |
| Issue type | Bookbuilding IPO |
| Listing at | NSE, BSE |
| Share Holding Pre Issue | 5,40,00,000 shares |
| Share Holding Post Issue | 7,20,96,000 shares |
Lot Allocation Details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 75 | ₹14,925.00 |
| Retail (Max) | 13 | 975 | ₹1,94,025.00 |
| S-HNI (Min) | 14 | 1,050 | ₹2,08,950.00 |
| S-HNI (Max) | 67 | 5,025 | ₹9,99,975.00 |
| B-HNI (Min) | 68 | 5,100 | ₹10,14,900.00 |
Allotment Schedule
Basis of 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 |
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 (HNI) Shares Offered | Not less than 15% of the Net Issue |