Shanti Gold International IPO GMP, Price, Date, Allotment Status

Shanti Gold International Limited, a leading manufacturer of 22kt CZ casting gold jewellery, is set to launch its Initial Public Offering (IPO) on July 25, 2025, aiming to raise ₹360.11 Crores through a fresh issue of 1.81 crore equity shares.

This article gives you an in-depth understanding of the Shanti Gold International IPO, including grey market premium (GMP), key dates, price band, allotment details, and how to apply in a step-by-step process.

About Shanti Gold International Limited

Shanti Gold International Limited was incorporated in 2003 it is a Mumbai-based manufacturer which specialising in high-quality 22kt Cubic Zirconia (CZ) casting gold jewellery. With an integrated in-house facility in Andheri East, Mumbai, spanning 13,448.86 sq. ft., the company boasts an annual installed manufacturing capacity of 2,700 kg. 

Shanti Gold International Limited leverages advanced machinery, including casting machines and CAD technology, and employs skilled outsourced labour for intricate stone settings.

What is Shanti Gold International IPO?

Via the IPO Book-Building process, Shanti Gold International aims to raise ₹360.11 Crores through a fresh issue of 1.81 crore equity shares with a face value of ₹10 each. This IPO was approved by SEBI to open for subscription on July 25, 2025, and it will close on July 29, 2025 05:00 PM, with a tentative listing on BSE and NSE on August 1, 2025, at 10:00 AM.

Shanti Gold International IPO Key Timeline

Key IPO Details

• IPO Open Date: July 25, 2025
• IPO Close Date: July 29, 2025
• Issue Size: ₹360.11 Crores (1.81 crore shares)
• Fresh Issue: ₹360.11 Crores (1.81 crore shares)
• Offer for Sale: None
• Face Value: ₹10 per equity share
• Price Band: ₹189 to ₹199 per share
• Lot Size: 75 shares
• Minimum Investment (Retail): ₹14,925 (75 shares)
• Minimum Investment (sHNI): ₹1,94,025 (975 shares, 13 lots)
• Minimum Investment (bHNI): ₹10,14,900 (5,100 shares, 68 lots)
• Market Maker Portion: Not applicable (mainboard IPO)
• IPO Reservation:
  • Qualified Institutional Buyers (QIB): Not more than 50%
  • Non-Institutional Investors (NII/HNI): Not less than 15%
  • Retail Investors: Not less than 35%
• UPI Mandate Confirmation Cut-off: 5:00 PM on July 29, 2025

Investors can apply through ASBA (Applications Supported by Blocked Amount) via their bank’s net banking, UPI through registered brokers, or offline forms submitted through stockbrokers.

The IPO is managed by Choice Capital Advisors Private Limited as the book-running lead manager, with Bigshare Services Pvt Ltd as the registrar.

IPO Strategic Objectives

• Fresh Issue Funds: The ₹360.11 Crores raised will be used for:
  • Establishing a new manufacturing facility in Jaipur (₹46.3 Crores) to expand production capacity and diversify operations.
  • Repayment/prepayment of borrowings (₹17 Crores).
  • General corporate purposes and working capital requirements.
• Listing Benefits: The IPO aims to enhance brand visibility, liquidity, and access to capital markets by listing on BSE and NSE.
• Company Expansion Plans: Shanti Gold International plans a new Jaipur facility under its subsidiary (name not disclosed) is expected to commence operations by Q3 FY 2026, increasing production capacity and reducing reliance on the Mumbai facility.

Shanti Gold International Business Overview

• Service Portfolio: Manufactures a wide range of 22kt CZ gold jewellery, including bangles, rings, necklaces, and bridal sets, catering to weddings, festivals, and daily wear. The company focuses on B2B sales, supplying to major jewellery brands.
• Global Reach: Primarily serves the domestic Indian market, with 455, 372, and 379 customers in FY 2025, 2024, and 2023, respectively, including marquee clients like Joyalukkas, Lalithaa Jewellery, and Vysyaraju Jewellers.
• Infrastructure: Operates a single integrated facility in Mumbai with advanced CAD technology and a design team of 79, producing over 400 new designs monthly.
• R&D and Innovation: Employs 79 in-house CAD designers to ensure product freshness and market relevance, with a focus on innovative and trendy jewellery designs.

Key Highlights

• Market Leadership: One of India’s leading manufacturers of 22kt CZ casting gold jewellery by installed capacity, serving 455, 372, and 379 customers in FY 2025, 2024, and 2023, respectively.
• B2B Focus: Shanti Gold International focuses its business on supplying gold jewellery to big brands like Joyalukkas, Lalithaa Jewellery, and Vysyaraju Jewellers, ensuring stable bulk orders and brand visibility.
• Design Innovation: The company was backed by 79 in-house CAD designers producing over 400 designs monthly, ensuring product freshness and market relevance.

Strengths and Challenges of Shanti Gold International

Strengths:

• Scalable Operations: Shanti Gold International has an asset-light model with outsourced stone-setting and CAD-driven design ensures cost flexibility and scalability.
• Strong Margins: The Shanti Gold International has a healthy gross and net margin growth over the last three years, driven by better capacity utilisation and pricing discipline.
• Blue-Chip Clients: Long-standing relationships with top jewellery brands ensure consistent demand.
• Jaipur Expansion: IPO proceeds will fund a new facility in Jaipur (₹46.3 Crores), diversifying operations and increasing capacity.
• Financials : Shanti Gold International has a strong revenue growth and a 107.84% YoY PAT increase in FY 2025.

Challenges:

• Price Risk: The fluctuations in the gold prices can leads to negative impact on the profitability of the company and input costs.
• Competitive Market: Intense competition in the jewellery manufacturing sector requires continuous innovation.
• Dependence on B2B Clients: Reliance on a limited number of large clients poses concentration risk.
• Regulatory Compliance: Compliance with evolving SEBI and industry regulations could increase operational costs.

Financial Performance

Shanti Gold International IPO GMP Today

Shanti Gold International IPO GMP (Grey Market Premium) today is reported approximately ₹25, indicating a potential listing price of ₹224 per share (12.56% above the upper price band of ₹199). 

Things to Consider Before Applying for Shanti Gold International IPO

Positives

• Strong Growth: Revenue CAGR of 27.61% and PAT CAGR of 68% demonstrate robust financial performance.
• B2B Model: Focus on B2B clients reduces retail operational risks and ensures stable demand.
• Jaipur Expansion: New facility will enhance production capacity and geographic diversification.
• Design Innovation: Monthly development of 400+ designs ensures market competitiveness.
• Attractive Valuation: P/E ratio of 25.77x is reasonable compared to peers like Sky Gold (34.53x).

Risks

• Gold Price Volatility: The price fluctuations in gold will affect margins and input costs (positively and negatively as well).
• Client Concentration: Dependence on a few large B2B clients poses revenue risk.
• Market Competition: Intense competition in the jewellery sector requires constant innovation.
• GMP Volatility: Modest GMP and potential oversubscription may limit short-term listing gains.

How to Apply for Shanti Gold International IPO?

Investors can apply for the Shanti Gold International IPO through the following methods:

Online ASBA:

Step 1: Login to your Banks Net Banking portal
Step 2: Head to the IPO section
Step 3: Select the “Shanti Gold International IPO” from the “Dropdown”.
Step 4: Fill the bid detailed like Quantity and the Price.
Step 5: Do the payment and wait for allotment results.

UPI:

Step 1: Log in to your stockbroker app or website.
Step 2: Head to the IPO section
Step 3: Select “Shanti Gold International IPO” from the list of IPOs.
Step 4: Fill the Bid details like quantity (how many lots) and price.
Step 5: Enter the UPI ID and click on “Apply or Submit” option.
Step 6: Confirm the UPI mandate by 5:00 PM on July 29, 2025.

Offline: 

Step 1: Download the application form for the IPO  from the Exchange (NSE or BSE) or stockbroker.
Step 2: Fill your personal details and the bid details.
Step 3: Submit your form to your stock broker.
Step 4: Wait for the application number.
Step 5: Once you receive the application number sit relax and wait for the allotment status.

Shanti Gold International IPO Allotment Status

The Shanti Gold International IPO allotment status will be available on Bigshare Services Pvt Ltd on July 30, 2025. Follow the below steps to check your allotment status online.

• Visit the Bigshare Services website.
• Select “Shanti Gold International Limited” from the “Dropdown”.
• Click on any of the option PAN, application number, or DP/Client ID.
• Enter your details to confirm identity for verification of bid.
• Click “Search” to view your allotment status.

Note: Allotment status can check through the NSE, BSE websites as well as with the stock broker also once the allotment results are out.

Company Contact Details:

Name: Shanti Gold International Ltd
Address: Plot No A-51, 2nd Floor to 7th Floor, MIDC, Marol Industrial Area, Road No. 1, Near Tunga International Hotel, Mumbai, Maharashtra 400093, India
Phone: +91 22 4824 964
Email: cs@shantigold.in

Registrar:

Name: Bigshare Services Pvt Ltd
Address: 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri (East), Mumbai – 400059, India
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com

Conclusion

Shanti Gold International IPO is open for subscription on 25th July 2025. Investors can start applying for the IPO on the opening day from 10:00 AM, and it will close on 29 July 2025, 5:00 PM. Allotments are going to finalise on 30 July 2025, where the IPO is going to list on 1 August 2025 at 10:00 AM.

Disclaimer: The information provided in this article is for educational purposes only and should not be considered investment advice. Investors are advised to conduct their own research and consult SEBI-registered financial advisors before making any investment decisions.

Related IPO Articles:
1. Accretion Pharmaceuticals IPO - Check Issue Date, Price, GMP, Allotment Status
2. Scoda Tubes IPO - Check Issue Date, Price, GMP, Allotment Status
3. Oswal Pumps IPO GMP, Date, Price, Allotment Status
4. Globe Civil IPO GMP, Date, Price, Allotment Status
5. HDB Financial Services IPO GMP, Price, Date, Allotment Status
6. Cryogenic OGS IPO GMP, Price, Date, Allotment Status
7. Anthem Biosciences IPO GMP, Price, Dates, and Allotment Status
8. GLEN Industries IPO GMP, Price, Date, Allotment Status
9. Brigade Hotel Ventures IPO GMP, Price, Date, Allotment Status