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: Manufacturer of high-quality 22kt CZ casting gold jewellery—bangles, rings, necklaces, sets; specializing in design and production.
Products: Wide range of jewellery for weddings, festive occasions, daily wear, at various price points.
Manufacturing: In-house design, production, packaging; 13,448.86 sq ft facility in Andheri East, Mumbai; 2,700 kg annual production capacity.
Design Team: 80 CAD designers, 400+ gemstone-studded CZ gold designs monthly.
Clients: Joyalukkas, Lalitha Jewellery, Alukkas Enterprises, Vysyaraju Jewellers, Shree Kalptaru Jewellers, etc.
Network: 15 states + 1 UT, branches in Mumbai, Bangalore, Chennai, Hyderabad.
Employees: 222 (payroll), 100 (contract) as of May 31, 2025
Promoters: Pankajkumar H Jagawat, Manojkumar N Jain, Shashank Bhawarlal Jagawat
- Wide range of jewelry designs by experts
- Complete in-house manufacturing for quality
- Experienced promoters & stable finances
- Established B2B relations
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 â‚ą189 to â‚ą199 per share.
The IPO is scheduled to open for subscription on July 25, 2025, and close on July 29, 2025.
The minimum investment for retail investors is â‚ą14,925 (75 shares at the upper price band of â‚ą199 per share). The minimum lot size is 75 shares. For small HNI (sNII), the minimum investment is â‚ą2,08,950 (1,050 shares or 14 lots). For big HNI (bNII), the minimum investment is â‚ą10,14,900 (5,100 shares or 68 lots).
You can apply for the IPO through:
- Your bank's net banking platform (ASBA facility)
- Brokerage accounts, using UPI or offline forms
- Registered investment platforms
- Designated branches of syndicate banks
Retail investors can bid at the cut-off price. Detailed instructions are available in the Red Herring Prospectus (RHP).
Shanti Gold International Ltd. is a manufacturer of high-quality 22kt CZ casting gold jewellery, specializing in design and production. Its revenue sources include:
- Sale of gold jewellery products: Bangles, rings, necklaces, and sets for weddings, festive occasions, and daily wear
- B2B sales to clients such as Joyalukkas, Lalitha Jewellery, Alukkas Enterprises, Vysyaraju Jewellers, and Shree Kalptaru Jewellers
- Custom-designed jewellery with over 400 gemstone-studded CZ gold designs produced monthly
The company operates a 13,448.86 sq. ft. manufacturing facility in Andheri East, Mumbai, with an annual production capacity of 2,700 kg, supported by 80 Engineers and a network across 15 states and one Union Territory.
Key risks to consider include:
- Market risk: Sensitivity to fluctuations in gold prices and consumer demand for jewellery
- Debt risk: High borrowings of â‚ą233.00 Cr with a debt-to-equity ratio of 1.57 as of FY25
- Operational risk: Reliance on raw material supply and skilled labour for jewellery production
- Competition: Intense competition from organized and unorganized jewellery manufacturers
- Regulatory risk: Compliance with regulations related to gold purity and trade certifications
Investors should review the risk factors in the opening section of the RHP before investing.
The net proceeds from the fresh issue (â‚ą360.11 Cr) will be used for:
- Funding capital expenditure for setting up a new manufacturing facility in Jaipur: 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: Remaining amount
Shanti Gold International has shown significant growth:
- Revenue growth: â‚ą682.28 Cr (FY23) to â‚ą715.04 Cr (FY24) to â‚ą1,112.47 Cr (FY25), a 56% increase from FY24 to FY25
- Profit after tax: â‚ą19.82 Cr (FY23) to â‚ą26.87 Cr (FY24) to â‚ą55.84 Cr (FY25), a 108% increase from FY24 to FY25
- Net worth: â‚ą69.81 Cr (FY23) to â‚ą96.67 Cr (FY24) to â‚ą152.37 Cr (FY25)
- Production capacity: 2,700 kg annually at its Mumbai facility, with 400+ gemstone-studded designs monthly
- 222 payroll and 100 contract employees as of May 31, 2025, supporting a strong design and production team
The company’s in-house manufacturing and established B2B relationships drive its growth.
As of March 31, 2025:
- Total borrowings: â‚ą233.00 Cr
- Debt-to-equity ratio: 1.57
- Revenue: â‚ą1,112.47 Cr, supporting debt servicing capacity
The company’s high debt levels are partially offset by IPO proceeds allocated for debt repayment.
The book running lead manager for the Shanti Gold International IPO is not specified in the provided details. The registrar is Bigshare Services Pvt Ltd.
Note: The information provided here is based on the RHP and available data as of July 26, 2025. For the most updated and accurate details, including subscription status and grey market premium, please refer to the Red Herring Prospectus (RHP) or consult with your financial advisor.
