Shanti Gold International ₹360 cr IPO opens today: Key details, anchor investors and business highlights

The public offering, consisting of a fresh issue of 1.81 crore shares, will remain open until July 29. Investors can bid for a minimum of 75 shares.
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Shanti Gold International is launching its Rs 360.11 crore IPO today for public subscription at a price band of 189-199. The initial public offering, which is an entirely fresh issue of 1.81 crore shares, will close on Tuesday, July 29.

Investors can bid for a minimum of 75 equity shares and in multiples of 75 equity shares thereafter.

The issue is being made through the book-building process, wherein not more than 50 per cent of the issue shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15 per cent of the issue shall be available for allocation to non-institutional bidders, and not less than 35 per cent of the issue shall be available for allocation to retail investors.

Main objects of the issue are: Capital expenditure for setting up a new facility in Jaipur (₹46.3 crore), working capital requirements (₹200 crore), Repayment/prepayment of borrowings (₹17 crore) and General corporate purposes.

As part of the IPO, Shanti Gold International Limited garnered Rs 108 crore from anchor investors on Thursday by allotting 54,28,800 equity shares at Rs 199 per share. Some of the marquee Institutions that participated in the anchor includes Societe Generale, Wealthwave Capital, Rajasthan Global Securities, Abundantia Capital VCC, Swyom India, Astorne Capital, Shine Star Build Cap and Meru Investment.

Choice Capital Advisors Private Limited is the sole book-running lead manager, and Bigshare Services Private Limited is the registrar of the issue.

Shanti Gold International was founded as a partnership firm in 2003 by promoters Pankajkumar H. Jagawat and Manojkumar N. Jain, a leading manufacturer of high-quality 22kt CZ casting gold jewellery, in terms of installed production capacity, specialising in the design and production of all types of gold jewellery. The company offers a wide range of high-quality, intricately designed pieces, including bangles, rings, necklaces, and complete jewellery sets across various price points, ranging from jewellery for special occasions, such as weddings, to festive and daily-wear jewellery.

It has a fully integrated in-house manufacturing facility spanning 13,448.86 square feet in Andheri, Mumbai, equipped to produce a variety of jewellery with precision and efficiency. As of the current date, it has an installed manufacturing capacity of 2,700 kg per annum.

The company has a long-standing relationship with several jewellery businesses, including corporate jewellery brands (“Corporate Clients”), such as Joyalukkas India Limited, Lalithaa Jewellery Mart Limited, Alukkas Enterprises Private Limited, Vysyaraju Jewellers Private Limited, and Shree Kalptaru Jewellers (I) Private Limited, as well as numerous other esteemed clients. Its customer network spans 15 states and two union territories in India, and it has an international presence in the USA, UAE, Singapore, and Qatar.

Published on July 25, 2025