🏢 Company Overview
- Founded in 2003, Shanti Gold International Ltd specializes in designing and manufacturing 22‑karat CZ casting gold jewellery, covering bangles, rings, necklaces, and full sets across diverse price points.
- Operates a fully integrated in-house manufacturing facility in Andheri East, Mumbai (~13,448 sq ft) with an annual capacity of 2,700 kg of jewellery. A state‑of‑the‑art facility in Jaipur (Mahindra World City) is under construction to add an additional 1,200 kg capacity, expected to be operational by 2025–26.
- Employs a team of ~80 CAD designers who create over 400 jewellery designs monthly, enabling precise and customized craftsmanship.
🌐 Market & Distribution
- Serves clients across 15 Indian states and 2 Union Territories, with significant operations in Mumbai, Bangalore, Chennai, and Hyderabad, plus branch presence in Gujarat, Telangana, Karnataka, Madhya Pradesh, Tamil Nadu, and Andhra Pradesh
- Exports its jewellery to global markets including the UAE, USA, Singapore, and Qatar.
- Notable corporate clients include Joyalukkas India, Lalithaa Jewellery Mart, Alukkas Enterprises, Vysyaraju Jewellers, and Shree Kalptaru Jewellers.
✅ Key Strengths & Risks
Strengths:
- In-house, end-to-end manufacturing offering strong quality control.
- Diversified design capabilities with frequent new product launches.
- Healthy financial upward trajectory: ~56% revenue growth and over 100% PAT growth YoY.
- High return ratios: RoNW ~44.8%, RoCE ~25.7%
- Large client pool with established relationships.
Risks:
- Regional concentration: Over 72% revenue from Southern India, limiting geographic diversification.
- Customer concentration: Top 5 clients contribute ~23% of revenue; losing any could impact operations.
- Operating cash flow remains negative over the past few years—a liquidity concern.
- Debt levels: Borrowings around ₹233–242 crore; reliance on equity raise to reduce leverage.
Shanti Gold International Ltd. IPO Timetable
| Particular | Date |
| IPO Open Date | 25 July 2025 |
| IPO Close Date | 29 July 2025 |
| Allotment Date | 30 July 2025 |
| IPO Listing Date | 01 Aug 2025 |
Shanti Gold International Ltd. IPO Details
| Issue Type | Book Built Issue IPO |
| Face Value | Rs. 10 Per Equity Share |
| IPO Price | Rs. 189 to 199 Per Equity Share |
| Market Lot | 75 Share |
| ISIN Code | |
| Listing At | NSE & BSE |
| Issue Size | Approx. Rs. 360 Crore. |
Shanti Gold International Ltd. IPO Lot Size
| Application | Lots | Shares | Amount |
| Minimum | 1 | 75 | Rs. 14925 |
| Maximum | 13 | 975 | Rs. 194025 |
| Small HNI (Minimum) | 14 | 1050 | Rs. 208950 |
| Big HNI (Minimum) | 68 | 5100 | Rs. 1014900 |
Shanti Gold International Ltd. IPO Allotment Status
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Company Financials :
| Particular | 31 March 2025 | 31 March 2024 | 31 March 2023 |
| Total Assets | 419.83 | 325.40 | 256.88 |
| Total Revenue | 1112.47 | 715.04 | 682.28 |
| Profit After Tax | 55.84 | 26.87 | 19.82 |
Company Promoters:
Pankajkumar H Jagawat, Manojkumar N Jain and Shashank Bhawarlal Jagawat are the promoters of the company.
Objects of this Issue:
- Funding of capital expenditure requirements towards setting up of the Proposed Jaipur Facility
- Funding working capital requirements of our Company
- Repayment / pre-payment, of certain borrowings availed by our Company
Registrar & Company Details
| Company Contact Information | IPO Registrar |
| Shanti Gold International Ltd. Plot No A-51, 2nd Floor to 7th Floor, MIDC, Marol Industrial Area, Road no.-1, Near Tunga International Hotel, Mumbai, Maharashtra, 400093 Phone: + 91 22 4824 964 Email: cs@shantigold.in Website: https://shantigold.in | Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
