Shanti Gold International IPO

About Shanti Gold International IPO

The initial public offering (IPO) of Shanti Gold International comprises a fresh issue of up to 18,096,000 equity shares with a face value of ₹10 each. Promoters involved in the offering include Pankajkumar H Jagawat, Manojkumar N Jain and Shashank Bhawarlal Jagawat. The price band of the IPO is ₹189-₹199. The lot size of the IPO is 75.

The IPO begins on July 25, 2025 and closes on a date July 29, 2025. The allotment of shares will take place on July 30, 2025 and the credit of shares will take place on July 31, 2025. The refunds will be initiated on July 31, 2025.

Shanti Gold International, based in Mumbai, is a leading manufacturer of high-quality 22kt CZ casting gold jewellery, recognised for its extensive design range and production capacity (Source: CARE Report). Specialising in intricately designed bangles, rings, necklaces, and complete jewellery sets, the company caters to diverse price segments, from wedding and festive collections to everyday wear.

Objectives of Shanti Gold International IPO

• Funding capital expenditure for setting up the proposed Jaipur facility.

• Meeting working capital requirements.

• Repayment or prepayment, in full or part, of certain borrowings availed by the company

• General corporate purposes.

The objectives outlined in the Memorandum of Association (MOA) support both existing business operations and the initiatives planned with the IPO proceeds. Additionally, the listing of equity shares is expected to enhance brand visibility, strengthen market presence, and create a public market for the company's shares in India.

Industry Outlook

The Indian jewellery market is projected to grow 13.1% y-o-y to ₹4,653 billion in CY24 and reach ₹7,162 billion by CY29 at a CAGR of 9.7%, driven by rising disposable incomes and the middle-class viewing gold jewellery as both a status symbol and investment.

Economic resilience and growth

India's real GDP grew 7.0% in FY23 to ~Rs. 161 trillion, despite prior pandemic impacts and geopolitical tensions. Growth accelerated to 8.2% in Q1FY24 and remained strong at 8.1% in Q2FY24, driven by investments, manufacturing, and construction.

Consumption patterns

Indian households are shifting towards discretionary spending, rising from 53.6% in FY19 to 54% in FY23, reflecting higher disposable incomes.

Rising middle-class and rural economy

Rural consumption is surging due to rising incomes, improved infrastructure, and government initiatives. Increased discretionary spending, dietary shifts, and digital adoption highlight evolving economic patterns.

Middle-income households are driving consumption across essential and luxury goods, with rural India emerging as a key growth driver.

About Shanti Gold International

Shanti Gold International, based in Mumbai, is a leading manufacturer of high-quality 22kt CZ casting gold jewellery, recognised for its extensive design range and production capacity (Source: CARE Report). Specialising in intricately designed bangles, rings, necklaces, and complete jewellery sets, the company caters to diverse price segments, from wedding and festive collections to everyday wear.

Established in 2003 as a partnership firm by promoters Pankajkumar H. Jagawat and Manojkumar N. Jain, Shanti Gold has grown into a reputed name in the industry, backed by two decades of expertise. A fully integrated in-house manufacturing setup ensures strict quality control across design, production, and packaging.

Equipped with advanced machinery such as casting machines, steamers, induction melters, and air compressors, the facility blends modern technology with skilled craftsmanship.

Strengths of Shanti Gold International IPO

• Diverse jewellery portfolio with quality manufacturing
  
• Experienced leadership and strong industry relations
  
• Financial stability and growth potential
  
• Established relations with corporate and jewellery businesses
  

Risks of Shanti Gold International IPO

• Customer dependence and market concentration
  
• Operational and expansion risks
  
• Financial and commodity price risks
  
• Negative cash flows in recent fiscals
  

IPO Registrar and Book Running Lead Manager

Registrar: Bigshare Services Private Limited

Book Running Lead Managers: Choice Capital Advisors Private Limited

Business Model

Established as a partnership firm in 2003, Shanti Gold International Ltd was founded by Pankajkumar H. Jagawat and Manojkumar N. Jain, who bring over 20 years of expertise in the jewellery industry.

Specialising in high-quality 22kt CZ gold jewellery, the company offers a diverse range of bangles, rings, necklaces, and complete sets, catering to both everyday wear and special occasions like weddings and festivals.

While most processes are handled in-house, intricate tasks like stone setting are entrusted to skilled artisans to maintain exceptional craftsmanship. With an annual production capacity of 2,700 kg, Shanti Gold International Ltd continues to uphold its commitment to quality and innovation.

Shanti Gold International Growth Trajectory

Over the last few years, the company's revenue from operations has shown significant growth, increasing from ₹428.34 crore in FY22 to ₹711.43 crores in FY24. EBITDA margin has also improved remarkably, rising from 4.83% in FY22 to 7.51% in FY24.

How To Check Allotment Status of Shanti Gold International IPO?

1. Visit the Registrar's Website

Go to the official website of Bigshare Services Private Limited, the registrar for this IPO. Bigshare’s website has a page for checking IPO allotment status. On this page, enter your Permanent Account Number (PAN), application number, or Demat account ID. Then click the 'Submit' button. Your allotment status will be displayed.

2. Check on the Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page.

On the BSE IPO page, follow these steps:

• Select 'Equity' from the dropdown menu
• Choose ‘Shanti Gold International Ltd.' in the next dropdown
• Enter your application number
• Enter your PAN
• Click 'Search'

Your ' Shanti Gold International Ltd’ allotment status will be displayed.

1. Verify on the National Stock Exchange Website The National Stock Exchange (NSE) has an IPO Bid Verification module. Use this to check ‘Shanti Gold International Ltd.’ allotment status.

Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'. On the NSE IPO Bid Verification page, enter:

• Application number
• PAN

Then click 'Submit'. Your ‘Shanti Gold International Ltd. IPO’ bid and allotment details will be displayed.

How To Apply for Shanti Gold International Ltd IPO?

Here are the steps to apply for Shanti Gold International Ltd IPO:

• Step 1: Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.