Shanti Gold International IPO - Listing Performance & Details

Shanti Gold International Limited started operations in 2003 as a partnership business and was converted into a public limited company, with a fresh certificate of incorporation dated November 1, 2013. It is headquartered in Andheri East, Mumbai, Maharashtra, and works in the gold jewellery manufacturing sector.

The company manufactures 22kt CZ (cubic zirconia) casting gold jewellery, including bangles, rings, necklaces and sets designed for weddings, festive occasions and daily wear across various price points. It operates a fully integrated in-house manufacturing facility spanning 13,448.86 square feet in Andheri East, Mumbai, with an installed production capacity of 2,700 kg per annum, using advanced machinery including laser soldering and continuous casting machines. A team of 80 in-house CAD designers develops over 400 new designs each month. As of September 30, 2024, the company operated in 13 states and one union territory, with branch offices in cities including Hyderabad, and served clients such as Joyalukkas and Lalithaa Jewellery Mart. The company is promoted by Pankajkumar H Jagawat, who serves as Chairman and Managing Director, along with Manojkumar N Jain and Shashank Bhawarlal Jagawat.

This was a mainboard IPO, listed on the NSE and BSE. The issue was entirely a fresh issue of about 1.81 crore equity shares of face value Rs 10 each, with no offer-for-sale component, aggregating to about Rs 360.11 crore. Net proceeds were proposed to be used for capital expenditure toward a proposed manufacturing facility in Jaipur, working capital requirements, debt repayment and general corporate purposes. JM Financial Limited was the lead manager and Bigshare Services Private Limited was the registrar of the issue.