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.
At the upper price band, the company is valued at a FY25 P/E of 25.7x, with a post-issue market capitalisation of ₹1,434.7 crore, said brokerage firm Anand Rathi.Shanti Gold has established strong ties with prominent jewelry brands like Joyalukkas, Lalitha Jewellery, and Alukkas Enterprises, and operates across 15 states and 1 union territory, with branch offices in major cities including Mumbai, Bengaluru, Chennai, and Hyderabad. Given these strengths, the IPO appears fully priced, and a ‘Subscribe – long term’ recommendation is advised, it added.
The company has fixed a price band between ₹189 and ₹199 per share. Investors can bid for a minimum of 75 shares and in multiples thereof. The minimum amount of investment required by an retail is ₹14,175.
The issue is entirely a fresh issue of 1.81 crore shares, aggregating up to ₹360.11 crore. There is 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.
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.
Choice Capital Advisors is the book-running lead manager of the Shanti Gold International IPO, while Bigshare Services is the registrar.
The allotment for the Shanti Gold International IPO is expected to be finalised on July 30, and the company’s shares will be listed on BSE, NSE with a tentative listing date fixed as August 1.
