Shanti Gold International Limited IPO
Shanti Gold International Limited IPO
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Having completed its public offering, Shanti Gold International Limited's is now listed and trading on the NSE, BSE exchange as of 01-08-2025. The IPO raised cumulative capital of 1,80,96,000 Shares, including 1,80,96,000 Shares in primary capital infusion.
The IPO was conducted with a price range of ₹189 to ₹199 and minimum investment requirement of 75 shares. subscription activity between 25-07-2025 and 29-07-2025 reflected market assessment of the offering's valuation and prospects.
The allotment process finalized on 30-07-2025 distributed equity ownership to successful bidders. The listing established a transparent market mechanism for share trading, price discovery, and investor participation in the company's future growth.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Shanti Gold IPO About Company
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.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Shanti Gold IPO Strength Factors
- 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.
Shanti Gold IPO 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.
Shanti Gold IPO Lead Manager(s)
- Choice Capital Advisors Private Limited
Shanti Gold IPO Promoter(s)
- Pankajkumar H Jagawat
- Manojkumar N Jain
- Shashank Bhawarlal Jagawat
Shanti Gold IPO FAQs
Shanti Gold International Limited IPO subscribed 81.22 times. The public issue subscribed 30.37 times in the retail category,117.33times in QIB, and 173.08 times in the HNI (10+) category byNovember 24, 2025 10:08:47 AM (Day 24).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Shanti Gold IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Shanti Gold IPO FAQs
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