Shanti Gold International IPO is a book-built issue IPO, aiming to raise ₹360.11 crore. It comprises a fresh issue of 1.81 crore equity shares. The bidding window was open from July 25, 2025, to July 29, 2025, with the IPO allotment to be finalised on July 30, 2025. Shanti Gold International is scheduled to list on BSE and NSE on August 1, 2025.
The IPO was priced at ₹189-₹199 per share with a lot size of 75 shares. The public issue received bids for 1,02,32,61,750 shares against 1,26,67,200 shares available, resulting in an overall subscription of 80.78 times. NIIs led the response, subscribing 151.17 times their quota, followed by QIBs at 117.33 times.
Shanti Gold International' ₹360.11 crore IPO, priced at ₹189-₹199 per share, was subscribed 80.78 times overall. The IPO is a fresh issue of 1.81 crore equity shares. Bidding took place from July 25 to July 29, 2025, with the Shanti Gold International IPO allotment status on July 30, 2025. Retail investors subscribed 29.73 and NIIs 151.17 times. Listing is expected on August 1, 2025.
The table below breaks down the Shanti Gold International share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| QIB Shares Offered | 90,48,000 (50.00%) |
| − Anchor Investor Shares Offered | 54,28,800 (30.00%) |
| − QIB (Ex. Anchor) Shares Offered | 36,19,200 (20.00%) |
| NII (HNI) Shares Offered | 27,14,400 (15.00%) |
| − bNII > ₹10L | 18,09,600 (10.00%) |
| − sNII < ₹10L | 9,04,800 (5.00%) |
| Retail Shares Offered | 63,33,600 (35.00%) |
| Total Shares Offered | 1,80,96,000 (100.00%) |
Data Source: NSE
| Category | Subscription (times) |
| Qualified Institutional Buyers | 117.33 |
| Non-Institutional Investors | 151.17 |
| Retail Individual Investors | 29.73 |
| Total shares | 80.78 |
Note: The subscription details are as of July 29, 2025
Shanti Gold International Limited, founded in 2003 by Pankajkumar H. Jagawat and Manojkumar N. Jain, is a prominent manufacturer of 22kt CZ casting gold jewellery. Renowned for its exceptional craftsmanship and extensive product line, the company has established a strong presence throughout India and in selected overseas markets. Its offerings include intricately designed bangles, rings, necklaces, and complete sets suitable for both everyday wear and special occasions.
Operating from a fully integrated manufacturing unit in Andheri East, Mumbai, the facility spans over 13,448 sq. ft. and boasts an annual production capacity of 2,700 kg. While the in-house infrastructure ensures stringent quality control and precision, the company also relies on outsourced labour for specialised tasks such as stone setting. With a dedicated team of 79 CAD designers, Shanti Gold International produces over 400 new designs each month to stay aligned with dynamic consumer preferences.
In FY25, the company served 455 customers, marking a notable increase from 372 in FY24, and demonstrating a compound annual growth rate (CAGR) of 27.61% in operational revenue over three fiscal years. Its clientele features prominent jewellery retailers like Joyalukkas, Lalithaa Jewellery Mart, and Alukkas Enterprises, reinforcing its strong market reputation and reach.
Currently active in 15 Indian states, two union territories, and four international markets, Shanti Gold International is planning further expansion with a new facility in Jaipur. Strongly rooted in South India, where gold holds deep cultural and financial significance, the company continues to blend traditional aesthetics with contemporary design. Its commitment to excellence is recognised through BIS hallmarking and accolades from industry bodies such as the GJEPC and GJC.
Know more about IPO allotment status and check your application details online for the latest updates on share allocation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jul 29, 2025, 7:20 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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