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IPO Analysis > shanti-gold-international-ipo-mainboard

 Shanti Gold IPO Highlights Investors Should Know 


The gold jewellery market is the second-biggest part of India’s gems and jewellery exports, right after polished diamonds. In FY24, gold jewellery made up 35% of total exports, and in Q1 FY25, it raised by 32%.

Shanti Gold, which has been making gold jewellery, is now coming out with its IPO.

The Shanti Gold International IPO lead manager is Choice Capital while the registrar of this IPO is Bigshare Services.  

Check the RHP for more Shanti Gold IPO Details.

Note: The lock-in period for 50% of Smarten Power Systems’ stock concludes 30 days post-allocation, whereas the remaining portion is released from lock-in after 90 days. 

Shanti Gold IPO: Company Profile

Explore the highlights of Shanti Gold’s IPO.


Particulars

Details

Established 

2003

Registered Office 

Mumbai, Maharashtra

Director 

Manojkumar Nemichand Jain

Products 

Gold jewellery 

Manufacturing Facility 

13,448.86 square feet 

Competitors

RBZ Jewellers, Utssav CZ Gold, and Sky Gold


Exploring the Shanti Gold International IPO Details

Here are the important highlights of the Shanti Gold IPO.

  • Shanti Gold IPO Date

Below is the complete IPO calendar, which includes details on opening, closing, and listing dates.


Event Description

Date

IPO Opens for Subscription

25 Jul 2025

IPO Closes for Subscription

29 Jul 2025

UPI Mandate Date 

29 Jul 2025 (5 PM)

Allotment Finalisation

30 Jul 2025

Refunds Begin

31 Jul 2025

Shares in Demat 

31 Jul 2025

IPO Listing on Stock Exchanges

01 Aug 2025

UPI Mandate Expiry

13 Aug 2025

50% Anchor Investor Lock-in Ends

29 Aug 2025

Remaining Anchor Investor Lock-in Ends

28 Oct 2025


  • Shanti Gold International IPO Size

Check out the Shanti Gold IPO Issue Size


Particulars

Number of Equity Shares

Aggregate Value

Fresh Issue 

18,096,000

₹360.11 crores

Offer for Sale

Overall Issue 

18,096,000

₹360.11 crores


  • Objectives of the offer 

Before tracking Shanti Gold IPO GMP, know exactly where the money will go.

Objects of the Issue

Amount (₹ in crores)

Funding for the Jaipur Facility

46.30

Working capital requirements 

200.00

Repayment and pre-payment

17.00

General corporate purposes

Not Disclosed 


  • Other takeaways from the Shanti Gold IPO Price

Below are the key pricing details for this IPO.


Particulars

Description

Face value of each share

₹10

Price Range

₹189 - ₹199

Listed At 

NSE and BSE 


  • Categorisation of different investors  

Check out how guarantee bid limits for retail HNIs and QIBs stay within the allowed range.


Investor Category 

Subscription Status 

Shares Available 

Shares Applied for

QIB

0.00

36,19,200

10,500

NII

0.79

27,14,400

21,32,700

bNII 

0.69

18,09,600

12,52,500

sNII 

0.97

9,04,800

8,80,200

Retail

1.40

63,33,600

88,53,825

Total

0.87

1,26,67,200

1,09,97,025


Before the Shanti Gold IPO begins, make sure you have your Demat ready. Also, check the different brokers before starting with your application. 

Shanti Gold IPO details: Key Financials  

See the revenue margins and cash flow below as per the recent quarterly data.


Particulars

FY 2025

FY 2024

FY 2023

Total income

11,029.31

8,676.60

6,012.75

Total assets

46,851.23

36,679.13

29,693.17

Total equity

-31.11

1,306.33

-3,081.01

Total borrowings

3,439.58

1,640.20

6,231.61

Revenue from operations

10,592.86

8,305.73

5,797.38

Loss after tax

-1,396.17

-3,415.08

-1,981.09

EBITDA

6,601.87

2,634.23

2,582.27

EBITDA (Operational)

6,165.42

2,263.36

2,366.90

EBITDA (before FV loss)

6,165.42

4,952.89

3,489.39


Metrics of Shanti Gold IPO 


Particulars

FY 2025

FY 2024

FY 2023

Total income growth (%)

27.12%

44.30%

NA

Revenue from operations growth (%)

27.54%

43.27%

NA

Loss after tax as % of total income

-12.66%

-39.36%

-32.95%

EBITDA margin (before FV loss on financial liabilities) (%)

58.20%

59.63%

60.19%


Strengths and risks

Get a thorough review of both benefits and risks of bidding this IPO.


Strengths


  • Designs are made using CAD tech by a skilled in-house team.

  • The company handles manufacturing under one roof, so quality stays in check.

  • Offers a big range of gold jewellery that’s fresh and detailed.

  • Backed by promoters with 20+ years of industry knowledge.


Risks

  • If key team members leave, things could slow down.

  • Depends heavily on its own manufacturing setup, which might limit quick changes.

  • Not following environmental rules can get the business into trouble.

  • May struggle to grow if working capital falls short.

IPO Closing Soon: Is Shanti Gold IPO Worth the Rush?

Currently, the Shanti Gold International IPO GMP is ₹39 as of 25 July 2025. Also, investors should check its offer price and key dates in this Shanti Gold IPO review


Start the Shanti Gold IPO application today.

FAQs

1. What is the Shanti Gold IPO review?
The Shanti Gold IPO review highlights the company's financials, industry outlook, and investor sentiment. Analysts often assess promoter background, revenue trends, and competitive positioning before investing.

2. What is the Shanti Gold IPO subscription status?
The Shanti Gold IPO subscription status reflects investor demand across retail, QIB, and NII categories. It is updated daily during the IPO window and helps evaluate market interest. 

3. What is the Shanti Gold IPO price?
The Shanti Gold IPO price is the price band set per equity share for bidding in the public issue. The company sets this range in consultation with merchant bankers. As per the IPO document, the price band is ₹189 - ₹199. 

4. What is the Shanti Gold IPO date?
The Shanti Gold IPO date refers to the window during which investors can apply for shares. It typically includes the opening and closing dates for bidding. The IPO opens on 25 Jul 2025 and closes on 29 Jul 2025. 

5. Can I apply for Shanti Gold IPO without a demat account?
The Shanti Gold IPO applications are open for those who have their demat account. Without this account, investors cannot participate in its bidding.