# What is Shanti Gold International IPO All About?
The **[Shanti Gold International IPO](https://www.finowings.com/IPO/shanti-gold-international-ipo-price)** is grabbing investor attention, especially in the luxury jewellery segment. This mainboard issue is worth ₹360.11 cr and offers 1.81 cr fresh equity shares.

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## IPO Date & Price

- **Open Date:** July 25, 2025
- **Close Date:** July 29, 2025
- **Price Band:** ₹189–₹199 per share
- **Listing Date:** August 1, 2025 (BSE & NSE)
- **Lot Size:** 75 shares per lot
- **Issue Type:** Book Built Issue
- **Face Value:** ₹10
- **Total Issue Size:** 1,80,96,000 shares (₹360.11 cr)

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## About Shanti Gold International Limited

- **Established:** 2003
- **Product:** Premium 22‑carat gold jewellery with cubic zirconia
- **Factory:** 13,448.86 sq ft fully integrated facility in Andheri East, Mumbai
- **Capacity:** 2,700 kg finished jewellery/year
- **Design Team:** 80+ CAD engineers, 400+ new designs/month
- **Product Range:** Necklaces, rings, bangles, bridal sets

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## Financial Performance

| Metric | FY 2023 | FY 2024 | FY 2025 |
|----------------------|---------------|---------------|----------------|
| **Total Revenue** | ₹682.28 cr | ₹715.04 cr | ₹1,112.47 cr |
| **Net Profit (PAT)** | ₹19.82 cr | ₹26.87 cr | ₹55.84 cr |
| **Total Assets** | ₹256.88 cr | — | ₹419.83 cr |
| **Borrowings** | — | — | ₹233 cr |

> Note: Operating cash flows remain negative due to high working capital needs.

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## Objectives of the IPO

Funds raised will be used for:

- Setting up a new production facility in Jaipur
- Meeting daily working capital requirements
- Repaying or prepaying certain company loans
- General corporate purposes

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## Shanti Gold International IPO GMP & Listing Estimate

- **[Shanti Gold IPO GMP](https://www.finowings.com/IPO/shanti-gold-international-ipo-price) (as of July 21, 2025):** ₹0
- **Estimated Listing Price:** ₹199 (upper band + GMP)

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## Peer Comparison & Valuation

- **P/E Ratio (FY 2025 EPS ₹10.34):** 19.24x
- **Weighted 3‑year EPS (₹7.44):** P/E 26.74x
- **Industry Avg. P/E:** 24.48x

**Top Peers**
- Utssav CZ Gold – P/E: 19.35x
- RBZ Jewellers – P/E: 14.42x
- Sky Gold – P/E: 34.53x

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## Strengths

- Strong brand in 22k gold jewellery with cubic zirconia
- Fully integrated production ensures quality control
- Advanced CAD design capabilities
- Consistent growth in revenue and profit
- Strong relationships with jewellery traders and corporates

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## Weaknesses

- 72.76% of revenue from South India – regional concentration
- Heavy reliance on gold jewellery segment
- Negative operating cash flow over the last three years
- Limited diversification into plain gold or other lines

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## Allotment & Reservation Details

- **Allotment Date:** July 30, 2025
- **Refund Date:** July 31, 2025
- **Listing Date:** August 1, 2025
- **Registrar:** Bigshare Services Pvt. Ltd.

**Reservation**
- QIB: 50%
- Retail: 35%
- HNI: 15%

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## IPO Lot Size Breakdown

- **Retail:**
- Min: 1 lot = 75 shares = ₹14,925
- Max: 13 lots = 975 shares = ₹1,94,025
- **S‑HNI Min:** 14 lots (₹2,08,950)
- **B‑HNI Min:** 68+ lots

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## Promoters

- Pankajkumar H Jagawat
- Manojkumar N Jain
- Shashank Bhawarlal Jagawat

| Holding | Before IPO | After IPO |
|-----------------|------------|-----------|
| **Promoter** | 99.99% | 74.89% |

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## FAQs

**Q1. Who is the owner of Shanti Gold?**
A: Promoted by Pankajkumar H Jagawat, Manojkumar N Jain, and Shashank Bhawarlal Jagawat.

**Q2. What is the Shanti Gold IPO date?**
A: Opens July 25, 2025; closes July 29, 2025.

**Q3. When is the listing date?**
A: Expected on August 1, 2025, on BSE and NSE.

**Q4. How to check allotment status?**
A: Visit Bigshare Services' website on July 30, 2025.

**Q5. What is the price band?**
A: ₹189–₹199 per share.

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## Conclusion

The **[Shanti Gold International IPO](https://www.finowings.com/IPO/shanti-gold-international-ipo-price)** offers a chance to invest in a premium gold jewellery maker with solid design capabilities and growing financials. While its regional focus and cash flow challenges are risks, strong branding and integrated production make it an attractive play in the luxury segment.