Although the listing was positive, it came slightly below market expectations.
In the unofficial grey market ahead of its listing, Shanti Gold shares were commanding a premium of around ₹34 per share. This indicated a likely listing gain of over 17%, higher than the actual premium seen on the first day of trading.The IPO of the Mumbai-based gold jewellery maker was open for bidding from July 25 to July 29.
The company sold its shares in a fixed price band of ₹189-199 per share.The issue included entirely a fresh issue of 1.81 crore shares, aggregating up to ₹360.11 crore. There was no offer-for-sale (OFS) component.
The 22kt CZ casting gold jewellery maker will spend ₹46.3 crore of IPO proceeds for setting up of the proposed Jaipur facility, and ₹200 crore for working capital requirements. Further, ₹17 crore will be used for repayment of debt, and the remaining funds for general corporate purposes.
Ahead of the issue launch, the company mobilised ₹108.03 crore via anchor book. Societe Generale, Wealthwave Capital Fund, Vijit Growth Fund, Founders Collective Fund, Smart Horizon Opportunity Fund, Swyom India Alpha Fund, and Sunrise Investment Opportunities Fund were among 15 investors participated in the anchor book.
Shanti Gold specialises in the design and production of various types of gold jewellery. The company manufactures high-quality 22kt CZ casting gold jewellery, specialising in design and production.
The company has an installed manufacturing capacity of 2,700 kg per annum.
Shanti Gold’s revenue from operations rose 55.52% to ₹1,106.41 crore in FY25, from ₹711.43 crore in the preceding fiscal and profit after tax rose to ₹56 crore in FY25, from ₹27 crore in FY24.
