Shanti Gold International IPO
Bookbuilding IPO | ₹360.00 Cr | Listing at BSE, NSE
IPO Open
Fri, Jul 25, 2025
IPO Close
Tue, Jul 29, 2025
Price Band
₹189.00 to ₹199.00
Market Cap (Pre-IPO)
₹1,434.71 Cr
IPO Details
| IPO Date | Jul 25, 2025 to Jul 29, 2025 |
| Listing Date | Tentative: Aug 01, 2025 |
| Face Value | ₹10.00 per share |
| Price Band | ₹189.00 to ₹199.00 |
| Lot Size | 75 Shares (Minimum: ₹14,925.00) |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹360.00 Crores |
| Total Shares Offered | 18,096,000 shares |
| Offer For Sale | 18,096,000 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 117.33x |
| NII | 151.17x |
| RII | 29.73x |
| Total | 80.78x |
Shanti Gold International IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 90,48,000 (50.00%) |
| Retail Shares Offered | 63,33,600 (35.00%) |
| NII Shares Offered | 27,14,400 (15.00%) |
Shanti Gold International IPO Lot Size
Investors can bid for a minimum of 75 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 75 | ₹14,925 |
| Retail (Max) | 13 | 975 | ₹194,025 |
| S-HNI (Min) | 14 | 1,050 | ₹208,950 |
| S-HNI (Max) | 67 | 5,025 | ₹999,975 |
| B-HNI (Min) | 68 | 5,100 | ₹1,014,900 |
Shanti Gold International Financial Information (Restated Consolidated)
Shanti Gold International Ltd.'s revenue increased by 56% and profit after tax (PAT) rose by 108% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 419.83 | 325.40 | 256.88 |
| Total Income | 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 | 0.00 | 0.00 | 0.00 |
| Reserves and Surplus | 152.37 | 96.67 | 69.81 |
| Total Borrowing | 233.00 | 210.68 | 165.34 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROCE (Return on Capital Employed) | 25.70% |
| Debt/Equity | 1.60 |
| RoNW (Return on Net Worth) | 44.85% |
| PAT Margin (Profit After Tax 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 |
| Promoter Holding | 99.99% | 74.89% |
Company Promoters
- Pankajkumar H Jagawat
- Manojkumar N Jain and Shashank Bhawarlal Jagawat are the promoters of the company.
Company Overview
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
Use of Proceeds
| 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 | 46.01 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Shanti Gold International IPO Peer Comparison
Shanti Gold International peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Shanti Gold International | 10.34 | 10.34 | 28.22 | 19.25 | 44.85 | - | - |
| Utssav Cz Gold Jewels Limited | 11.63 | 11.63 | 53.23 | 19.35 | 30.94 | - | Consolidated |
| Rbz Jewellers Limited | 9.70 | 9.70 | 61.26 | 14.42 | 17.15 | 2.46 | Consolidated |
| Sky Gold And Diamonds Limited | 9.52 | 9.44 | 46.61 | 34.53 | 28.59 | 20.87 | Consolidated |
Quick Info
| Sector | Gems, Jewellery & Precious Metals |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹1,434.71 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Jul 25, 2025 |
| IPO Close | Jul 29, 2025 |
| Allotment Date | Jul 30, 2025 |
| Credit to Demat | Jul 31, 2025 |
| Listing Date | Tentative: Aug 01, 2025 |
Lead Manager(s)
Choice Capital Advisors Pvt.Ltd.
Registrar
Bigshare Services Pvt.Ltd.
91-22-6263 8200
Description
- Shanti Gold International IPO is a book build issue of ₹360.11 crores. The issue is entirely a fresh issue of 1.81 crore shares of ₹360.11 crore.
- Shanti Gold International IPO bidding started from Jul 25, 2025 and ended on Jul 29, 2025. The allotment for Shanti Gold International IPO was finalized on Jul 30, 2025. The shares got listed on BSE, NSE on Aug 1, 2025.
- Shanti Gold International IPO price band is set at ₹199.00 per share . The lot size for an application is 75. The minimum amount of investment required by an retail is ₹14,175 (75 shares). The lot size investment for sNII is 14 lots (1,050 shares), amounting to ₹2,08,950, and for bNII, it is 68 lots (5,100 shares), amounting to ₹10,14,900.