Shanti Gold International Limited IPO

Mainboard

Gems, Jewellery And Watches

Listed On: Aug 1, 2025 at ₹ 227.55(NSE)

₹ 14925 /75 Shares

Check Allotment

25 Jul, 2025

Open Date

29 Jul, 2025

Close Date

30 Jul, 2025

Allotment Date

01 Aug, 2025

Listing Date

Price Summary

Last Closing

245.83 (23.53%)

52 Week High

274.10

52 Week Low

195.42

Last Update

3-Nov-2025 3:30 PM

Shanti Gold International IPO Issue Details

Issue Price ₹189-199 per equity share
Face Value ₹10 Per Equity Share
Total Issue Size 1,80,96,000 shares(aggregating up to ₹360.11 crore)
Fresh Share 1,80,96,000 shares(aggregating up to ₹360.11 crore)
Listing at BSE, NSE
List Price 227.55(NSE)
Listing Date 2025-08-01
Lead Manager Choice Capital Advisors Pvt Ltd
Registrar Bigshare Services Pvt Ltd

Market 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 Retail Investors 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
SHNI(min)	14	1,050	₹2,08,950
SHNI(max)	67	5,025	₹9,99,975
BHNI(min)	68	5,100	₹10,14,900

Shanti Gold International IPO Reservation

Shanti Gold International IPO offers total 1,80,96,000 shares. Out of which 36,19,200 (NA%) allocated to QIB, 27,14,400 (21.43%) allocated to NII,63,33,600 (50%) allocated to RII, NA (NA%) allocated to employees and 54,28,800 (NA%) allocated to Anchor investors.

Investor Category	Shares Offered	Maximum Allottees
Anchor Investor Shares Offered	54,28,800 (NA%)
QIB Shares Offered	36,19,200 (NA%)
NII (HNI) Shares Offered	27,14,400 (21.43%)
bNII < ₹10L	18,09,600 (14.29%)
sNII < ₹10L	9,04,800 (7.14%)
Retail Shares Offered	63,33,600 (50%)
Total Shares Offered	1,80,96,000 (100%)

Shanti Gold International IPO Documents

DRHP

RHP

ANCHOR

Shanti Gold International IPO Details

Shanti Gold International IPO is a book-built issue of ₹360.11 crores, The total issue size is ₹360.11 crores. The IPO of Shanti Gold International is priced at ₹189-199 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Jul 25, 2025 and ends on Jul 29, 2025. The allotment for Shanti Gold International IPO will be finalized on Jul 30, 2025. Shanti Gold International IPO will be listed on BSE, NSE, with a tentative listing date fixed as Aug 1, 2025. The company shall list its equity shares on the BSE, NSE. Bigshare Services Pvt Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 75 shares, extendable to 14,925. S-HNIs will be able to bid for 1,050 shares at ₹2,08,950, while B-HNIs can also apply for a bid of 5,100 shares at ₹10,14,900. The book-running lead manager for the IPO is/are Choice Capital Advisors Pvt Ltd.

The total issue ₹360.11 crore, comprising a fresh issue of 1,80,96,000 shares ₹360.11 crore
The Shanti Gold International IPO sets its price band at 189-199 for each share. A single application for Shanti Gold International Limited IPO must contain at least 75 shares. Sentiment investors need to invest a minimum of 75 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,925 In order to participate in the sNII, investors must purchase at least 14 lots of 1,050 shares for ₹2,08,950, while the bNII requires 68 lots of 5,100 shares for an investment of ₹10,14,900.

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	36,19,200	27,14,400 18,09,600 9,04,800	63,33,600	1,26,67,200
Day 1 25-07-25 05:00 PM	0.01 x	1.09 0.90 x 1.47 x	1.84 x	1.16 x
Day 2 28-07-25 05:00 PM	0.05 x	7.53 6.52 x 9.54 x	6.61 x	4.93 x
Day 3 29-07-25 05:00 PM	117.33 x	151.18 173.08 x 107.37 x	29.77 x	80.80 x

Total No of Applications

23,14,710

Subscription on the basis of Applications

Retail:25.64x BHNI:35.15x SHNI:104.4x

Shanti Gold International Valuations

EPS Pre IPO ₹10.34/-

EPS Post IPO ₹7.75/-

P/E Pre IPO 19.24

P/E Post IPO 25.69

ROCE 25.70%

Debt/Equity 1.60

RoNW 44.85%

PAT Margin 5.05%

Price to Book Value 7.05

Shanti Gold International Company Financials

In Crs.

In Cr.

	31-Mar-25	31-Mar-24	31-Mar-23
Assets	419.83	325.4	256.88
Revenue	1,112.47	715.04	682.28
Profit After Tax	55.84	26.87	19.82
Net Worth	152.37	96.67	69.81
Total Borrowing	233.00	210.68	165.34

About Shanti Gold International Company

Shanti Gold International Limited was incorporated in the year 2003 and is a business manufacturer of gold jewelry. The company is involved in the production of high-quality 22kt CZ casting gold jewelry, with specialization in design and manufacture.The company specializes in manufacturing high-quality, ornate-designed jewelry, such as bangles, rings, necklaces, and sets, for special occasions, weddings, festivals, and everyday wear at competitive prices.

The company has a in-house manufacturing setup for design, production, and packaging to maintain quality control. The company utilizes sophisticated machines and outsourced manpower for labor-intensive jobs such as manual stone setting, maintaining precision and workmanship.The company possesses a 13,448.86 square feet manufacturing unit at Andheri East, Mumbai, and has the capacity to produce 2,700 kg per annum, allowing precise and effective production of jewelry.The firm staff of 80 computer-aided design technology (CAD) designers produce more than 400 gemstone-set CZ gold pieces every month, employing sophisticated CAD technology to design elaborate pieces.

The firm has secured long-term associations with a number of jewelry firms, including corporate labels such as Joyalukkas, Lalitha Jewellery, Alukkas Enterprises, Vysyaraju Jewellers, and Shree Kalptaru Jewellers, among others.The company was started in 2003 and has grown to 13 states and one union territory up to September 30, 2024, with its branches in prominent cities such as Mumbai, Bangalore, Chennai, and Hyderabad.

Product portfolio:
The company has a range of intricately crafted jewelry, such as bangles, rings, necklaces, and full sets. It serves various price segments, offering jewelry for special occasions such as weddings and also for festive and everyday wear.

As of 15th November, 2024, the company employed a total of 225 people.

Shanti Gold International - Promoter(s)

Pankajkumar H Jagawat

Manojkumar N Jain

Shashank Bhawarlal Jagawat

Pre Issue Share Holding : 99.99

Post Issue Share Holding : 74.89%

Shanti Gold International IPO - Issue Objectives

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 IPO - Anchor Investors

Shanti Gold International IPO; anchor book closes with bids valued at Rs 108 crore.
Societe Generale, Wealthwave Capital Fund, Vijit Growth Fund, Founders Collective Fund, Smart Horizon Opportunity Fund, Swyom India Alpha Fund, and Sunrise Investment Opportunities Fund were part of 15 investors dealt with the anchor book

Shanti Gold International IPO - Peers Comparison

	P/B Ratio	P/E Ratio	RoNW	Revenue(in Cr.)
Shanti Gold	N/A	N/A	44.85%	1106
Utssav Cz Gold	N/A	19.35	30.94%	646
Rbz Jewellers	2.46	14.42	17.15%	530
Sky Gold	20.87	34.53	28.59%	3548

Strength

Experienced Promoters and Management: The promoters and directors have extensive experience in the jewellery industry (16-20+ years).

Strong Financial Performance: Shanti Gold has demonstrated consistent revenue growth and profitability in recent fiscal years.

Well-established Manufacturing Facility: The company has a modern manufacturing facility with a substantial annual production capacity, ensuring high-quality production.

Wide Product Range and Design Capabilities: The company offers a diverse range of 22kt CZ gold jewellery designs, catering to various customer segments and preferences.

Weakness

Customer Concentration and Dependence: The company relies on strong relationships with a limited number of clients and lacks long-term contracts, making it vulnerable to shifts in demand or financial instability of key clients.

Geographic Revenue Concentration: A significant portion of revenue comes from South India, exposing the company to regional economic and market risks.

Dependence on 22kt CZ Jewellery: The company primarily focuses on 22kt CZ casting gold jewellery, and any changes in consumer preferences could impact financial performance.

Exposure to Gold Price Volatility: As a manufacturer of gold jewellery, Shanti Gold is exposed to fluctuations in gold prices and supply constraints, which could affect profitability.

Contact Details

Shanti Gold International

Plot No A-51, 2nd Floor to 7th Floor, MIDC, Marol Industrial Area, Road no.-1,Near Tunga International Hotel, Mumbai, Maharashtra, 400093

+ 91 22 4824 964

cs@shantigold.in

https://shantigold.in/

Registrar Contact Details

Bigshare Services Pvt Ltd

+91-22-6263 8200

ipo@bigshareonline.com

https://ipo.bigshareonline.com/ipo_status.html

Shanti Gold International IPO - FAQs

Ans. Shanti Gold International Limited IPO is a Mainboard IPO. The issue is priced at ₹189-199 per equity share. The minimum order quantity is 75 Shares. The IPO opens on Jul 25, 2025, and closes on Jul 29, 2025. Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Shanti Gold International Limited IPO opens on Jul 25, 2025 and closes on Jul 29, 2025.

Ans. You can track the real-time subscription numbers using the links below:

Ans. The size of Shanti Gold International Limited IPO is 1,80,96,000 shares(aggregating up to ₹360.11 Cr).

Ans. The Shanti Gold International Limited IPO price band is set between ₹189-199 per equity share.

Ans. To apply for Shanti Gold International Limited IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Shanti Gold International Limited IPO in the List of IPOs
- Press Apply Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Shanti Gold International Limited IPO is Jul 30, 2025.

Ans. The Shanti Gold International Limited IPO will be listed on Aug 1, 2025.

Ans. Follow the steps to check the Shanti Gold International Limited IPO allotment status online.