August 1, 2025
admin
Shanti Gold International IPO GMP grey market premium, review, Subscription, allotment, listing estimate
Shanti Gold International IPO is a mainboard book-built issue of 1.81 crore equity shares, entirely comprising a fresh issue — indicating that the company aims to raise new capital for its business expansion.
The IPO opens for subscription on 25th July 2025 and closes on 29th July 2025. The basis of allotment is expected on 30th July 2025 (Wednesday), and the stock is likely to get listed on both BSE and NSE on 1st August 2025 (Friday).
The price band for the issue isRs. 189 to 199 and lot size is 75 shares.
Choice Capital Advisors Pvt Ltd is acting as the book running lead manager, and Bigshare Services Pvt Ltd is the registrar to the issue.
For full financial and business details, investors are advised to refer to the RHP (Red Herring Prospectus) of Shanti Gold International IPO.
Table of Contents
- GMP
- Reviews
- Subscription
- Allotment
Subscription Status
| QIB | B HNI X | S HNI X | NII X | RII X | Total X |
| 117.33 | 173.08 | 107.33 | 151.17 | 29.67 | 80.75 |
| Applications: 2307,697 | |||||
| Subscription Review: strong subscriptions received on the last day |
|||||
Who is the promoter of Shanti Gold International IPO?
Pankajkumar H Jagawat, Manojkumar N Jain and Shashank Bhawarlal Jagawat are the promoters of the company.
What are the Objects of Shanti Gold Internatioal IPO?
+Funding of capital expenditure requirements towards setting up of the Proposed Jaipur Facility Rs. 46.30 Cr
+Funding working capital requirements of our Company Rs. 200 Cr.
+Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company Rs. 17 Cr.
+General corporate purposes
What is the business of Shanti Gold Internatioal?
Shanti Gold International Limited – A Glittering Legacy Since 2003
Established in 2003, Shanti Gold International Limited has carved a niche for itself in the world of designer gold jewellery, specialising in 22kt CZ casting. With a strong focus on design innovation and quality craftsmanship, the company has become a trusted name across India’s jewellery landscape.
💍 Wide-Ranging Product Portfolio:
From bangles, rings, necklaces to complete bridal sets, the company offers a vibrant mix of contemporary and traditional jewellery — perfect for weddings, festive occasions, and even daily wear. The designs cater to multiple price points, making luxury accessible.
🏭 Robust Manufacturing Backbone:
Operating from a 13,448 sq. ft. facility in Andheri East, Mumbai, Shanti Gold boasts a production capacity of 2,700 kg annually. With an in-house setup covering design, production, and packaging — plus the use of precision machines and expert manual stone setters — the company maintains strict control over quality and consistency.
🎨 Design Excellence through Technology:
A team of 80 CAD designers creates over 400 new CZ gold designs every month using cutting-edge design tools — offering fresh, intricate, and trend-setting styles to meet dynamic market preferences.
🤝 Strong B2B Relationships:
The company supplies jewellery to leading retail chains and jewellers across India, including renowned names like Joyalukkas, Lalitha Jewellery, Alukkas Enterprises, Vysyaraju Jewellers, and Shree Kalptaru Jewellers.
📈 Widespread Market Reach:
As of May 31, 2025, Shanti Gold has a presence in 15 states and 1 union territory, with sales branches in major metros including Mumbai, Bangalore, Chennai, and Hyderabad.
👥 Human Capital:
The company employs 222 full-time staff and engages 100 contract workers, supporting its high-volume, quality-driven production model.
With two decades of experience, design leadership, and a growing pan-India presence, Shanti Gold International shines bright in the organized jewellery manufacturing sector — ready to unlock new growth through its upcoming IPO.
Shanti Gold International IPO GMP grey market premium, review, Subscription, allotment, listing estimate
Shanti Gold International IPO Details
| IPO opens on | 25 July 2025 |
| IPO closes on | 29 July 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 180,96,000 Shares / Rs ? Crore |
| * Fresh Issue | ? Shares / Rs Crore |
| * Offer for Sale | ? shares/ Rs.? Crore |
| Face Value per share: | Rs. 2 |
| Price Band | Rs.189-199 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 50 per share |
| Retail Lot Size | 75 Shares |
| Listing will at | BSE, NSE |
How shares are offered
| Category | % | Shares offered | Rs. In Cr. |
| QIB | 50 | 9048000 | 180.05 |
| HNI | 15 | 2714400 | 54.02 |
| RII | 35 | 6333600 | 126.04 |
| Emplyees | |||
| Shareholders | |||
| Total | 100 | 18096000 | 360.11 |
How shares can be applied
| Application | Lots | Shares | Amount Rs. |
| Retail (Min) | 1 | 75 | 14,925 |
| Retail (Max) | 13 | 975 | 1,94,025 |
| S-HNI (Min) | 14 | 1,050 | 2,08,950 |
| S-HNI (Max) | 67 | 5,025 | 9,99,975 |
| B-HNI (Min) | 68 | 5,100 | 10,14,900 |
|
What is the timetable of Shanti Gold International IPO? |
|
| IPO opens on | 25 July 2025 |
| IPO Closes on | 29 July 2025 |
| IPO Allotment on | 30 July 2025 |
| Unblocking of ASBA | 31 July 2025 |
| Credit of Shares | 31 July 2025 |
| Listing on | 1 August 2025 |
| Registered Office of Shanti Gold International | |
| 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 |
|
| The Lead Managers of the IPO Chioce Capital Advisors Pvt ltd |
|
| Registrar to IPO | |
| Bigshare Services Pvt Limited |
Shanti Gold International Financials
| Period Ended | 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 |
| EBITDA | 97.71 | 53.45 | 45.57 |
| Net Worth | 152.37 | 96.67 | 69.81 |
| Total Borrowing | 233 | 210.68 | 165.34 |
| Amount in Rs.. Crore | |||
Shanti Gold International
Key Performance Indicators
| KPI | Values |
| ROCE | 25.70% |
| Debt/Equity | 1.6 |
| RoNW | 44.85% |
| PAT Margin | 5.05% |
| EBITDA Margin | 8.83% |
| EPS | 10.34% |
| PE Ratio | 19.24 |
How Shanti Gold International IPO compares with the Peers?
| Company Name | P/E (x) | RoNW (%) |
| Shanti Gold International | 19.24 | 44.85 |
| Utssav Cz Gold Jewels Limited | 19.35 | 30.94 |
| Rbz Jewellers Limited | 14.42 | 17.15 |
| Sky Gold And Diamonds Limited | 34.53 | 28.59 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Shanti Gold International IPO Review
Shanti Gold International Limited – IPO Review
Incorporated in 2003, Shanti Gold International Limited has built a strong reputation in the designer jewellery segment, with a core focus on 22kt CZ casting gold jewellery. The company blends traditional craftsmanship with modern design aesthetics, making it a trusted name across India’s jewellery retail space.
💎 Product Range:
The company offers a wide variety of intricately designed gold jewellery including:
-
Bangles, Rings, Necklaces, and Bridal Sets
-
Designs suitable for weddings, festive occasions, and daily wear
-
Jewellery offered at multiple price points, making it accessible to a wide customer base
🏭 Manufacturing Strength:
Shanti Gold operates from its 13,448 sq. ft. manufacturing facility located in Andheri East, Mumbai, with an annual production capacity of 2,700 kg. The facility is equipped for in-house design, production, and packaging, ensuring quality control throughout the value chain.
📈 Financial Overview:
The company has shown a steady rise in revenue over the last three years, supported by strong B2B relationships with reputed names in the jewellery industry.
📊 IPO Details:
-
Issue Size: ₹360.11 crore
-
Retail Quota: ₹126.04 crore
-
Retail portion will be fully subscribed with just 84,448 applications, indicating low subscription threshold.
💰 Valuation:
The shares are being offered at a reasonable valuation, making the issue attractive for SME investors seeking exposure to the jewellery sector.
✅ Chanakya Recommendation: May Apply
The combination of design expertise, consistent financial growth, and reasonable pricing makes this IPO a worthy consideration for retail investors with an appetite for SME listings.
- Market Analysis by Nagaraj Shetti
- Stock Market today by Vaishali Parekh
- Analysis by Kotak Securities
- Market Analysis by HDFC Securities
- Technical Analysis by Kotak Securities
- Technical Analysis by Samco Securities
- Reliance, Target & Stoploss
- Gold Analysis
- FII buy-Sell
- Technical Analysis
- Calls for the Day
- Currency Analysis
Quicklinks
Shnti Gold International IPO
Shanti Gold International IPO GMP live updates
Shanti Gold International IPO review
A: The Shanti Gold International IPO opens on July 25, 2025, and closes on July 29, 2025.
A: The IPO comprises a total of 1.81 crore equity shares, and it is a 100% fresh issue.
A: The basis of allotment is expected to be finalized on July 30, 2025.
A: The tentative listing date is August 1, 2025, on both BSE and NSE.
A: The company manufactures 22kt CZ casting gold jewellery, including rings, bangles, necklaces, and bridal sets, and supplies to major jewellers across India.
