Shanti Gold International IPO: Date, Price, GMP, Allotment & Review – Key Details Inside

Shanti Gold International IPO is scheduled to open on July 25, 2025 (Friday) and will close on July 29, 2025 (Tuesday). The basis of allotment will be finalized on July 30, 2025 (Wednesday), refunds will be processed on July 31, 2025 (Thursday) and shares will be credited to Demat accounts on the same day. The IPO is planned to list on BSE and NSE on August 1, 2025 (Friday).

Shanti Gold International IPO is a Book Built Issue of around ₹360.11 crores, which includes a fresh issue of 1.81 crore equity shares having a face value of ₹10 each. The price band is ₹189 to ₹199 per share.

The lot size for retail investors is 75 shares, requiring a minimum investment of ₹14,175. For small HNI (sNII), the minimum lot size is 14 lots (1,050 shares) costing ₹2,08,950, and for big HNI (bNII) it is 68 lots (5,100 shares) costing ₹10,14,900. The IPO quota is divided as Retail 35%, QIB 50%, and NII 15%.

The company reported revenue of ₹1,112.47 crores in FY 2025 compared to ₹715.04 crores in FY 2024, and profit of ₹55.84 crores in FY 2025 against ₹26.87 crores in FY 2024. Looking at the financial performance, experts suggest this IPO is good for long-term investment.

Shanti Gold International IPO 2025: Dates, Price Band, Lot Size & All Details Inside!

About Shanti Gold International IPO 

Shanti Gold International Limited, established in 2003, is engaged in the manufacturing of high-quality 22kt CZ casting gold jewellery. The company is well-known for its beautifully designed jewellery collections, which include bangles, rings, necklaces, and full sets. These products are suitable for weddings, special occasions, festivals, and even daily wear across various price ranges.

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Shanti Gold International has its own in-house manufacturing unit located in Andheri East, Mumbai, spread across 13,448.86 square feet with an annual production capacity of 2,700 kg. The company handles everything from design, production to packaging in-house to maintain strict quality control. It uses advanced machinery and also outsources some of the manual work, like stone setting, to ensure the jewellery meets high standards of precision and craftsmanship.

The company employs a team of 80 expert CAD designers who create over 400 new CZ-studded gold jewellery designs every month using the latest technology. Over the years, Shanti Gold International has built strong, long-term relationships with reputed jewellery brands such as Joyalukkas, Lalitha Jewellery, Alukkas Enterprises, Vysyaraju Jewellers, and Shree Kalptaru Jewellers.

As of May 31, 2025, the company operates in 15 states and 1 union territory, with branches in key cities like Mumbai, Bangalore, Chennai, and Hyderabad. The company’s workforce includes 222 employees and 100 contract labourers. Its key strengths include a wide variety of jewellery designs, fully in-house production, experienced promoters, stable financial performance, and trusted relations with corporate and jewellery businesses across India.

Shanti Gold International IPO Overview

ParticularsDetails
IPO Listing onBSE, NSE
Face Value per Share₹10
Price Band (Per Share)₹189 to ₹199
Minimum Lot Size75 Shares
IPO TypeBook Building Process
Total Issue Size1,80,96,000 Shares (Approx ₹360.11 Cr)
Offer Structure100% Fresh Issue
Listing TypeBSE & NSE
Retail Investors QuotaUp to 35%
QIB PortionUp to 50%
NII PortionUp to 15%
Pre-Issue Share Capital5,40,00,000 Shares
Post-Issue Share Capital7,20,96,000 Shares

Shanti Gold International IPO Prospectus

DRHPClick here
RHPClick here

Shanti Gold International IPO Dates

EventDate & Day
IPO Open DateJuly 25, 2025 (Friday)
IPO Close DateJuly 29, 2025 (Tuesday)
Basis of AllotmentJuly 30, 2025 (Wednesday)
Refunds InitiationJuly 31, 2025 (Thursday)
Credit to Demat AccountJuly 31, 2025 (Thursday)
IPO Listing DateAugust 1, 2025 (Friday)

Shanti Gold International IPO Lot Size

Investors can apply for a minimum of 75 shares and in multiples thereafter. Below is the table showing minimum and maximum investment for Retail and HNI categories in terms of shares and amount.

CategoryLotsSharesAmount (₹)
Retail (Min)17514,925
Retail (Max)139751,94,025
S-HNI (Min)141,0502,08,950
S-HNI (Max)675,0259,99,975
B-HNI (Min)685,10010,14,900
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Objects of the Issue

  • Funding of capital expenditure requirements towards setting up of the Proposed Jaipur Facility
  • Funding working capital requirements of the Company.
  • Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company.
  • General corporate purposes.

Shanti Gold International IPO Promoter Holding

The promoters of Shanti Gold International Limited are Pankajkumar H Jagawat, Manojkumar N Jain, and Shashank Bhawarlal Jagawat. The promoter shareholding before the IPO stands at 99.99%, which will reduce to 74.89% post-issue.

Shanti Gold International IPO GMO 

  • To be Updated Soon

Shanti Gold International IPO – Peer Group Comparison

Company NameEPS (₹)P/E RatioRoNW (%)NAV (₹)Revenue (₹ Cr.)
Utssav CZ Gold Ltd.11.6319.3530.94%53.23646.32
RBZ Jewellers Ltd.9.7014.4217.15%61.26530.15
Sky Gold Ltd.9.5234.5328.59%46.613,548.02

Shanti Gold International Ltd. Financial Performance

ParticularsFY 2025FY 2024FY 2023
Assets419.83325.40256.88
Revenue1,112.47715.04682.28
Profit After Tax55.8426.8719.82
EBITDA97.7153.4545.57
Net Worth152.3796.6769.81
Total Borrowing233.00210.68165.34

Shanti Gold International IPO Valuation – FY2025

Key MetricsValues
Return on Equity (ROE)44.85%
Return on Capital Employed (ROCE)25.70%
EBITDA Margin8.83%
Profit After Tax (PAT) Margin5.05%
Debt-to-Equity Ratio1.60
Earnings Per Share (EPS)₹10.34 (Basic)
Price to Earnings (P/E) RatioN/A
Return on Net Worth (RoNW)44.85%
Net Asset Value (NAV) per Share₹28.22

Shanti Gold International IPO Review

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