Introduction

Shanti Gold International, a leading manufacturer of 22kt CZ casting gold jewellery, is entering the capital markets with its Initial Public Offering (IPO). Known for its strong B2B and growing B2C presence, the company is looking to raise capital to fund expansion and operational growth. The IPO opens on July 25, 2025.

IPO Details at a Glance

  • IPO Open: July 25, 2025

  • IPO Close: July 29, 2025

  • Anchor Investment: July 24, 2025

  • Allotment Finalization: July 30, 2025

  • Refunds Initiated: July 31, 2025

  • Listing Date: August 1, 2025 (BSE & NSE)

Pricing and Lot Structure

  • Price Band: ₹189 to ₹199 per share

  • Lot Size: 75 shares

  • Minimum Retail Investment: ₹14,175 (1 lot)

  • HNI Minimum Investment: ₹2,08,950 (14 lots)

  • Maximum Application (Retail/HNI): ₹10,14,900 (68 lots)

The price band is considered reasonable given the company's positioning and expansion strategy.

About Shanti Gold International

Based in Mumbai, Shanti Gold International is a recognized name in the 22kt CZ casting jewellery market. It caters to both traditional and contemporary tastes and serves customers across India through B2B networks and a growing retail presence.

Product Range

  • Necklaces

  • Bangles

  • Earrings

  • Rings

  • Complete bridal sets

Manufacturing Facility

The company operates a 13,448 sq. ft. fully integrated production unit in Andheri East, Mumbai, enabling tight control over quality and cost across the design-to-delivery cycle.

Use of IPO Proceeds

Funds raised through the IPO will be used for:

  • Working capital needs

  • Expansion of a new facility in Jaipur

  • Repayment/prepayment of certain borrowings

  • General corporate purposes

The Jaipur unit is expected to boost capacity and tap into a key jewellery manufacturing hub.

Financial Snapshot

While full financials are detailed in the RHP, preliminary disclosures highlight:

  • Stable revenue from wholesale and retail channels

  • Increased demand for bridal and daily-wear CZ jewellery

  • Operational efficiencies from in-house manufacturing

  • Focus on margin expansion and cost control

Strengths and Market Position

Shanti Gold's key competitive advantages include:

  • End-to-end control from design to production

  • A wide, culturally blended product portfolio

  • Well-established B2B partnerships and an expanding B2C footprint

  • Scalable infrastructure ready for regional expansion

Risks to Watch

  • Volatility in gold and raw material prices

  • Changes in import duties or trade policies

  • Strong competition from established brands and unorganised players

  • Operational risks related to supply chain and cost fluctuations

Key Stakeholders

  • Lead Manager: Choice Capital Advisors Pvt Ltd

  • Registrar: Bigshare Services Pvt Ltd

Both firms bring relevant experience in handling IPOs in the traditional and SME space.

Grey Market Premium (GMP) Insight

Though unofficial, early GMP trends point toward healthy investor interest. Jewellery IPOs with strong retail branding often perform well during subscription and listing phases.

Should You Subscribe?

A Suitable Bet If:

  • You're a long-term investor interested in consumer discretionary or luxury segments

  • You believe in India's growing demand for branded jewellery

  • You seek exposure to a niche, high-margin manufacturing business

Proceed Cautiously If:

  • You're looking for short-term gains—watch grey market trends and retail interest

  • You're unfamiliar with the jewellery sector's price and regulation volatility

Final Word

Shanti Gold International's IPO is more than a fundraising exercise—it's a strategic push into new markets, deeper brand building, and increased production capability. For investors seeking sectoral diversification or exposure to India's evolving consumer landscape, this IPO could offer meaningful long-term potential.

As always, conduct independent research or consult a SEBI-registered advisor before investing.

Disclaimer

This article is for educational and informational purposes only. It should not be considered financial, legal, or investment advice. Investors are encouraged to consult certified professionals or SEBI-registered advisors before making any investment decisions. No responsibility is taken for financial losses resulting from the use of this content.