All details for Shanti Gold International IPO: Dates, price, financials, objectives, KPIs, registrar, and business overview.
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Shanti Gold International IPO: At a Glance
IPO Timeline
| IPO Activity | Date |
|---|---|
| IPO Open Date | July 25, 2025 |
| IPO Close Date | July 29, 2025 |
| Basis of Allotment (Tentative) | July 30, 2025 |
| Refunds Initiation (Tentative) | July 31, 2025 |
| Credit of Shares to Demat (Tentative) | July 31, 2025 |
| IPO Listing Date (Tentative) | August 1, 2025 |
IPO Price & Lot Size
| Issue Price Band | ₹189 – ₹199 per share |
|---|---|
| Market Lot | 75 Shares |
| Retail Min | 1 lot (75 shares) – ₹14,925 |
| Retail Max | 13 lots (975 shares) – ₹1,94,025 |
| S-HNI Min | 14 lots (1,050 shares) – ₹2,08,950 |
| S-HNI Max | 67 lots (5,025 shares) – ₹9,99,975 |
| B-HNI Min | 68 lots (5,100 shares) – ₹10,14,900 |
Company Financials (â‚ą Crore)
Bar Chart: Revenue, PAT & Net Worth
Line Chart: Revenue, PAT & Net Worth
| Period Ended | Assets | Revenue | Profit After Tax | EBITDA | Net Worth | Total Borrowing |
|---|---|---|---|---|---|---|
| 31 Mar 2025 | 419.83 | 1,112.47 | 55.84 | 97.71 | 152.37 | 233.00 |
| 31 Mar 2024 | 325.40 | 715.04 | 26.87 | 53.45 | 96.67 | 210.68 |
| 31 Mar 2023 | 256.88 | 682.28 | 19.82 | 45.57 | 69.81 | 165.34 |
Key Performance Indicators (KPI)
| KPI | Values |
|---|---|
| ROCE | 25.70% |
| Debt/Equity | 1.60 |
| RoNW | 44.85% |
| PAT Margin | 5.05% |
| EBITDA Margin | 8.83% |
| Price to Book Value | 7.05 |
| EPS (Pre IPO) | 10.34 |
| EPS (Post IPO) | 7.75 |
| P/E (Pre IPO) | 19.24 |
| P/E (Post IPO) | 25.69 |
Objects of the Issue
| S.No. | Objects of the Issue | Expected Amount (â‚ą Cr.) |
|---|---|---|
| 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 | – |
About Shanti Gold International Ltd.
Incorporated: 2003
Business: Manufacturing of gold jewellery, specializing in 22kt CZ casting gold jewellery.
Products: Bangles, rings, necklaces, sets for special occasions, weddings, festive and daily wear.
Manufacturing: In-house facility in Andheri East, Mumbai (13,448.86 sq ft), 2,700 kg annual capacity.
Design: 80 CAD designers, 400+ CZ gold designs/month (as of May 31, 2025).
Presence: 15 states + 1 UT, branches in Mumbai, Bangalore, Chennai, Hyderabad.
Customers: Joyalukkas, Lalitha Jewellery, Alukkas Enterprises, Vysyaraju Jewellers, Shree Kalptaru Jewellers, etc.
Employees: 222 payroll, 100 contract labourers (as of May 31, 2025).
Promoters: Pankajkumar H Jagawat, Manojkumar N Jain, Shashank Bhawarlal Jagawat
- Wide range of jewelry designs driven by expert team
- Complete in-house manufacturing for quality control
- Experienced promoters with strong execution
- Established relations with corporate/jewellery businesses
Contact Details
Plot No A-51, 2nd Floor to 7th Floor, MIDC, Marol Industrial Area, Road no.-1, Near Tunga International Hotel,
Mumbai, Maharashtra, 400093
Phone: +91 22 4824 964
Email: cs@shantigold.in
Website: https://shantigold.in/
Frequently Asked Questions (FAQ)
The price band for Shanti Gold International IPO is ₹189–₹199 per share, as announced in the Draft Red Herring Prospectus (DRHP).
The IPO will open for subscription on July 25, 2025, and close on July 29, 2025, as per the announced timeline.
The minimum investment for retail investors is 1 lot (75 shares), which amounts to â‚ą14,925 at the upper end of the price band (â‚ą199 per share). No employee discount is specified in the provided data.
You can apply for the IPO through:
- Your bank's net banking platform (ASBA facility)
- Brokerage accounts (online or offline)
- Registered investment platforms
- Designated branches of syndicate banks
The exact application process will be detailed in the Red Herring Prospectus (RHP). Note that bidding at the cut-off price is not allowed for any category.
Shanti Gold International Ltd. specializes in manufacturing 22kt CZ casting gold jewellery. Its revenue sources include:
- Sales of bangles, rings, necklaces, and sets for special occasions, weddings, festive, and daily wear
- Domestic sales across 15 states and 1 Union Territory, with branches in Mumbai, Bangalore, Chennai, and Hyderabad
- Business-to-business sales to major clients like Joyalukkas, Lalitha Jewellery, Alukkas Enterprises, Vysyaraju Jewellers, and Shree Kalptaru Jewellers
The company’s in-house manufacturing facility in Andheri East, Mumbai (13,448.86 sq ft, 2,700 kg annual capacity) and design team (80 CAD designers, 400+ designs/month) drive its revenue growth.
Key risks to consider include:
- Market risk: Dependence on demand for gold jewellery, sensitive to gold price volatility and consumer preferences
- Debt risk: Debt-to-equity ratio of 1.60, indicating moderate leverage
- Competition: Intense competition from other jewellery manufacturers and retailers
- Operational risk: Reliance on skilled labor and raw material (gold) availability
- Regulatory risk: Compliance with jewellery hallmarking and trade regulations
Investors should review the risk factors in the RHP before investing.
The net proceeds from the fresh issue (â‚ą360.11 Cr) will be used for:
- Capital expenditure for setting up the proposed Jaipur facility (â‚ą46.30 Cr)
- Funding working capital requirements (â‚ą200.00 Cr)
- Repayment or prepayment of certain borrowings (â‚ą17.00 Cr)
- General corporate purposes
Specific allocations will be detailed in the RHP.
Shanti Gold International has:
- Revenue growth from â‚ą682.28 Cr (FY23) to â‚ą1,112.47 Cr (FY25)
- PAT growth from â‚ą19.82 Cr (FY23) to â‚ą55.84 Cr (FY25)
- EBITDA growth from â‚ą45.57 Cr (FY23) to â‚ą97.71 Cr (FY25)
- Net worth growth from â‚ą69.81 Cr (FY23) to â‚ą152.37 Cr (FY25)
- 222 payroll and 100 contract employees as of May 31, 2025
- In-house manufacturing facility (13,448.86 sq ft, 2,700 kg annual capacity) and 400+ designs/month
The company’s focus on quality control and established B2B relationships drives its growth.
As of March 31, 2025:
- Total borrowings: â‚ą233.00 crore
- Debt-to-equity ratio: 1.60
- EBITDA: â‚ą97.71 Cr, supporting strong debt servicing capacity
The company’s robust EBITDA growth and IPO proceeds for debt repayment support its financial stability.
The book running lead managers for Shanti Gold International IPO are not specified in the provided data. They will be announced in the RHP and are responsible for managing the IPO process, including investor roadshows, price discovery, and allocation.
