Shanti Gold International Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹189 - ₹199
- Lot size
- 75 shares
- Issue amount
- ₹360.11 cr
- Total subscription
- 81.22×
- Opens
- 25 Jul 2025
- Closes
- 29 Jul 2025
- Allotment
- 30 Jul 2025
- Listing
- 1 Aug 2025
Offer at a glance
Issue overview
- Issue size
- 1,80,96,000 shares
- Face value
- 0
- Minimum investment
- ₹14,175
- Fresh issue
- ₹360.11 cr
- Offer for sale
- ₹0 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,925
- Issue type
- Bookbuilding IPO
- Shares before issue
- 5,40,00,000
- Shares after issue
- 7,20,96,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 75 | ₹14,925 |
| sHNI | 14 | 1,050 | ₹2,08,950 |
| bHNI | 68 | 5,100 | ₹10,14,900 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 84,448 | 25,65,040 |
| HNIs(10L +) | 1,723 | 2,98,299 |
| HNIs (2-10L) | 862 | 93,308 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 72.02 | 8,450.21 |
| RETAIL | 126.04 | 3,828.32 |
| HNIs 2+ | 18.01 | 1,949.66 |
| HNIs 10+ | 36.01 | 6,232.96 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 10.34 | 4.98 | 3.67 |
| ROE | 0 | 0 | 0 |
| ROCE | 25.7 | 17.97 | 19.36 |
| RONW | 44.85 | 32.28 | 33.08 |
| PRE IPO(PE) | 0 | 0 | 0 |
| POST IPO(PE) | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Shanti Gold International Limited, founded in 2003, specializes in manufacturing high-quality 22kt CZ casting gold jewelry with a focus on detailed design and craftsmanship. The company offers a wide range of jewelry including bangles, rings, necklaces, and complete sets, catering to different price segments and occasions such as weddings, festivals, and daily wear. Its manufacturing facility, located in Andheri East, Mumbai, spans over 13,000 square feet and has an annual capacity of 2,700 kg of gold jewelry. The entire process, from design to packaging, is managed in-house to maintain quality standards, while advanced machinery and skilled outsourced labor handle specialized tasks like stone setting. Shanti Gold's design team includes 80 CAD professionals who create over 400 unique CZ gold jewelry designs every month using cutting-edge design software. The company has built strong relationships with leading jewelry retailers such as Joyalukkas, Lalitha Jewellery, Alukkas Enterprises, Vysyaraju Jewellers, and Shree Kalptaru Jewellers. As of September 30, 2024, Shanti Gold has a presence in 13 states and 1 union territory, with branch offices in key cities like Mumbai, Bangalore, Chennai, and Hyderabad.
Strengths
- Wide Jewelry Collection with Strong Clientele – Offers 22kt CZ gold jewelry for all occasions, serving customers in 15 states, 2 UTs, and 4 countries, including big names like Joyalukkas and Lalithaa.
- End-to-End In-House Production – Handles design to packaging internally with modern equipment and skilled labor at its 13,448 sq. ft. Andheri facility (2,700 kg/year capacity).
- Leadership with Deep Industry Roots – Promoters bring 16–20+ years of experience, guiding growth and strategy across multiple group companies.
Risk factors
- High Regional Dependence – 72.76% of FY25 revenue came from Southern India, exposing the business to regional risks.
- Limited Product Focus – Heavy reliance on 22kt CZ casting gold jewelry makes it vulnerable to shifts in customer preferences.
- Gold Price Sensitivity – Operations and margins depend on gold prices and supply, which are influenced by global and political factors.
Promoters
Pankajkumar H Jagawat
Manojkumar N Jain
Shashank Bhawarlal Jagawat
Registrar & documents
Lead manager
Choice Capital Advisors Private Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
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
[email protected]Company website ↗Understanding SHANTIGOLD IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.