Shanti Gold IPO Day 2 update: Subscription surpasses 3x, GMP at 19%

Business Standard

6 hours ago

Shanti Gold International IPO subscription status: The initial public offering (IPO) of Shanti Gold International, which opened for public subscription on Friday, July 25, has received a favourable response from investors.
The NSE data suggests that the ₹360 crore offering of Shanti Gold International received bids for 3,92,51,625 shares, against 1,26,67,200 shares on offer, resulting in a subscription of 3.10 times as of 1:06 PM on Monday, July 28.
Among the investor categories, retail investors led the demand by oversubscribing the category reserved for them by 4.57 times. This was followed by non-institutional investors (NIIs), who bid for 3.77 times, and qualified institutional buyers (QIBs), for 0.02 times.
Shanti Gold International IPO details
The public offering is a book-built issue, which comprises an entirely fresh issue of 18.1 million equity shares worth ₹360.11 crore. Shanti Gold International IPO is available at a price band of ₹189-199 per share, and a lot size of 75 shares. Thus, investors can bid for a minimum of 75 shares of Shanti Gold International IPO and in multiples thereof.
To bid for one lot or 75 shares of Shanti Gold International IPO, a retail investor would require a minimum of ₹14,925, taking the upper end of the IPO price into consideration. A retail investor can bid for a maximum of 13 lots or 975 shares, amounting to ₹1,94,025.
Shanti Gold International IPO grey market premium (GMP)
The unlisted shares of Shanti Gold International were commanding a decent premium in the grey market on the second day of its subscription window. Sources tracking unofficial market activities revealed that Shanti Gold International shares were seen trading at around ₹237 per share, reflecting a grey market premium (GMP) of ₹38 or 19.10 per cent over the upper end of the issue price.
Shanti Gold International IPO review
The company has received favourable reviews from the brokerages for its public offering. Analysts at Arihant Capital have recommended the investors to subscribe to the Shanti Gold International IPO, while those at Anand Rathi Research Team have recommended subscribing to the issue for a long-term perspective. READ MORE
Shanti Gold International IPO allotment date, listing date
The three-day subscription window to bid for the public offering is set to conclude on Tuesday, July 29, 2025. Following the closure of the subscription window, the basis of allotment of Shanti Gold International IPO shares is likely to get finalised on Wednesday, July 30, 2025, with shares getting credited into demat accounts by Thursday, July 31, 2025.
Shares of Shanti Gold International are set to make their D-Street debut on Friday, August 1, 2025, by listing on the BSE and NSE.
Shanti Gold International IPO objective
The company intends to utilise the proceeds from the public issue towards funding capital expenditure requirements for setting up the proposed Jaipur facility, as well as funding the working capital requirements of the company. The company will further use the IPO proceeds for repayment and/or pre-payment, in full or part, of certain borrowings availed, as well as for general corporate purposes.
Shanti Gold International IPO registrar, lead managers
For the public offering, Bigshare Services serves as the registrar, while Choice Capital Advisors is the sole book-running lead manager.
About Shanti Gold International
Incorporated in 2003, Shanti Gold International manufactures high-quality 22kt CZ casting gold jewelry with a focus on design and production. The company has an in-house manufacturing setup and uses advanced machines and CAD technology to create intricate pieces. With a 13,448.86 sq ft manufacturing facility in Mumbai, Shanti Gold produces a wide range of jewelry, including bangles, rings, and necklaces. The company has established relationships with several jewelry businesses and operates in 15 states and one union territory.