IPO Details
Bidding Dates
25 Jul 25 - 29 Jul 25
Lot Size
75
Price Range ₹
189 - 199
Exchange Status
NSE,BSE
Total Equity
₹ 360.11Cr
IPO Doc
IPO Timeline
Offer start
25 Jul 2025
Offer end
29 Jul 2025
Allotment
30 Jul 2025
Refund initiation
31 Jul 2025
Demat transfer
31 Jul 2025
Listing
01 Aug 2025
Offer start
25 Jul 2025
Offer end
29 Jul 2025
Allotment
30 Jul 2025
Refund initiation
31 Jul 2025
Demat transfer
31 Jul 2025
Listing
01 Aug 2025
About Company
Shanti Gold International Limited, incorporated in 2003, is a gold jewellery manufacturer specializing in 22kt CZ (cubic zirconia) casting jewellery. Its product range includes bangles, rings, necklaces, and complete sets tailored for weddings, festivals, and daily wear across different price points. The company operates a 13,448.86 sq. ft. manufacturing facility in Andheri East, Mumbai, with an annual production capacity of 2,700 kg. It uses advanced machinery, CAD technology, and manual craftsmanship for precision production, supported by a team of 80 CAD designers who produce 400+ new designs monthly. Shanti Gold serves prominent clients such as Joyalukkas, Lalitha Jewellery, Alukkas Enterprises, Vysyaraju Jewellers, and Shree Kalptaru Jewellers, and has a presence in 15 Indian states and one union territory with branches in cities like Mumbai, Bangalore, Chennai, and Hyderabad.
Year Founded
05-08-2003
Promotor Details
Pankajkumar H Jagawat
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 99.98 | 0 |
| Share Capital | 53989200 | 0 |
Offer to Public
1,80,96,000.00 Cr
Project Details
- Funding working capital requirements of our Company - 1900cr
- Funding of capital expenditure requirements towards setting up of the Proposed - 458.32cr
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by our - 200cr
Objectives
- Funding of capital expenditure requirements towards setting up of the Proposed Jaipur Facility (defined below)Funding working capital requirements of our Company
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company
- andGeneral corporate purposes.
Highlights
- Revenue and PAT more than doubled YoY, indicating solid operational performance and demand.
- ROCE (25.70%) and RoNW (44.85%) reflect excellent capital efficiency and shareholder value creation.
- Long-term ties with major jewellery brands enhance credibility and business stability.
- In-house team of 80 CAD designers producing 400+ designs monthly gives a creative and competitive edge.
- In-house production and packaging enable strict quality control and efficient turnaround.
Challenges
- Significant borrowings increase financial risk and interest burden.
- Margins are modest for the luxury/jewellery segment, suggesting pricing or cost pressures.
- Post-issue P/E of 25.69x and P/B of 7.05x may be considered expensive relative to peers.
- Heavy focus on CZ casting jewellery may limit diversification compared to traditional or diamond jewellery makers.
- Primary operations centered in a single facility in Mumbai may pose risks related to capacity, disruption, or regulation.
