| Price | Lot Size | Issue Date | Issue Size |
|---|---|---|---|
| ₹ 189 to ₹ 199 | 75 | 25th Jul, 2025 – 28th Jul, 2025 | ₹360.11 Cr |
Shanti Gold International Ltd.
Shanti Gold International Ltd. (SGIL), incorporated in 2003, is one of the leading manufacturers of high-quality 22kt CZ casting gold jewellery in India, in terms of installed production capacity. The company specializes in designing and producing a wide range of gold jewellery, offering intricately crafted pieces such as bangles, rings, necklaces, and complete jewellery sets across various price points, ranging from jewellery for special occasions, such as weddings, to festive and daily-wear jewellery. SGIL operates a fully integrated in-house manufacturing facility, spanning 13,448.86 square feet in Andheri East, Mumbai, equipped to produce a variety of jewellery with precision and efficiency. The company has an installed manufacturing capacity of 2,700 kg per annum. Many of its pieces feature intricately studded gemstones in CZ casting gold, crafted by a team of designers using computer-aided design (CAD) technology. SGIL has received various accolades for its brand, and all its products are hallmarked by the Bureau of Indian Standards (BIS) and the company. The company is a member of the Gem & Jewellery Export Promotion Council and holds a lifetime membership with the All India Gems and Jewellery Trade Federation. The company’s customer base spans 15 states and 2 union territories in India, and four international markets. A significant portion of its current presence is in South India, where the tradition of investing heavily in gold jewellery is deeply ingrained, with families often prioritizing substantial, intricate designs that reflect both wealth and cultural heritage. The emphasis on gold as an investment also drives higher expenditure in this region. The company further plans to expand its presence in North India by setting up a new manufacturing facility in Jaipur. Over the years, SGIL has built a reputation for delivering high-quality products and services, earning the trust and loyalty of its customers.
Objective of the Shanti Gold International Ltd IPO
The company proposes to utilise the net proceeds towards funding of the following objects:
- Funding of capital expenditure requirements towards setting up of the Proposed Jaipur Facility
- Funding working capital requirements of the company;
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company; and
- General corporate purposes.
Rationale To Shanti Gold International Ltd IPO
Diverse product range supports client retention and global expansion
SGIL primarily focuses on its ability to develop and manufacture a wide variety of jewellery designs that cater to the diverse preferences of its clients. The company’s in-house design team plays a crucial role in driving innovation, consistently creating new collections that reflect regional preferences across both domestic and international markets. Over the years, SGIL has built and maintained sustained relationships with its clients, including corporate clients, enabling it to effectively address the specific requirements of different customer segments. Its extensive product offerings support this capability, helping the company foster long-standing relationships with jewellery businesses such as Joyalukkas India Limited, Lalithaa Jewellery Mart Limited, Alukkas Enterprises Private Limited, Vysyaraju Jewellers Private Limited, and Shree Kalptaru Jewellers (I) Private Limited. Consistent product quality remains a key priority for SGIL, allowing it to meet client expectations and support their brand positioning. For wholesale jewellers, the company focuses on providing jewellery that offers a balance between quality and affordability. To enhance its presence among international jewellery businesses, distributors, and consumers, SGIL plans to expand into global markets, including the USA and the UAE, through participation in trade exhibitions. These exhibitions will provide the company with an opportunity to engage with potential buyers from across these regions, including wholesalers and jewellery distributors, establish partnerships, and collaborate with international distributors and brands. Participation in such events will also allow the company to gain insights into the preferences and trends of international markets, enabling it to refine its product offerings and adapt to the demands of such regions.
Integrated manufacturing facility ensures quality control
SGIL operates a fully integrated in-house manufacturing facility, which enables the company to maintain greater control over the product quality and consistently meet customer expectations. All key functions, including design, manufacturing, and packaging, are carried out internally, allowing the company to create jewellery tailored to diverse customer preferences. SGIL is widely recognized for its craftsmanship, innovative designs, and strong manufacturing capabilities. The company utilizes advanced machinery such as casting machines, steamers, induction melters, and air compressors for manufacturing and processing operations. Additionally, a portion of its production process relies on outsourced labour, particularly the manual setting of stones that require high precision and craftsmanship. The company’s Andheri East facility spans 13,448.86 square feet and is equipped to produce a wide range of jewellery. It has an installed manufacturing capacity of 2,700 kg per annum, allowing it to produce a wide range of jewellery efficiently. This integrated setup not only streamlines production but also enhances flexibility for customization and ensures consistent quality throughout the entire process.By keeping the entire manufacturing process under one roof, SGIL reduces dependence on external vendors, minimizes operational risks, and maintains product quality and timelines as per customer standards. This comprehensive control positions the company to adapt to market demands, introduce new and innovative designs, and deliver products that align with evolving customer demands in terms of both design and finish.
Valuation of Shanti Gold International Ltd IPO
Shanti Gold International Ltd., one of the leading manufacturers of high-quality 22kt CZ casting gold jewellery, specializes in the design and production of all types of gold jewellery. The company offers a wide range of intricately designed, high-quality pieces and has a presence in both domestic and international markets. Its fully integrated in-house manufacturing facility enables the company to manage key functions and maintain product quality in line with customer standards. SGIL has long-standing relationships with its clients and is actively working to expand its global footprint, particularly in the USA and the UAE. The Indian jewellery market is expected to grow at a CAGR of 9.7% between CY23 and CY29. This surge in demand can be attributed to the growing middle-class population and rising disposable income levels. As more individuals experience higher income, they become more capable of affording luxury items like gold jewellery. For this segment, gold jewellery is seen not only as a status symbol and a reflection of an improved lifestyle but also as a valuable investment. SGIL focuses on designing and manufacturing a wide variety of jewellery to cater to diverse regional and international preferences. This strategy is expected to help the company build partnerships, expand its distribution network, and adapt its offerings to evolving market trends. Financially, the company has demonstrated robust growth, with revenue growing at a CAGR of 27.6% between FY23 and FY25. EBITDA and net profit grew at CAGRs of 46.5% and 67.9%, respectively, during the same period. On the upper band, the issue is priced at a P/E of 19.2x based on FY25 earnings, which aligns well with its peers. Given SGIL’s strategic international expansion and established domestic client base, we recommend a “SUBSCRIBE” rating for the issue with a medium to long-term investment perspective.
What is the Shanti Gold International Limited IPO?
The initial public offer (IPO) of Shanti Gold International Limited offers an early investment opportunity in Shanti Gold International Ltd . A stock market investor can buy Shanti Gold International Ltd IPO shares by applying in IPO before Shanti Gold International Ltd shares get listed at the stock exchanges. An investor could invest in Shanti Gold International Ltd IPO for short term listing gain or a long term.
How to apply for the Shanti Gold International Ltd IPO through StoxBox?
To apply for the Shanti Gold International Ltd IPO through StoxBox one can apply from the website and also from the app. Click here
When will the Shanti Gold International Ltd IPO open?
Shanti Gold International Ltd IPO is opening on 25th Jul 2025. Apply Now
What is the lot size of the Shanti Gold International Ltd IPO?
The Lot Size of Shanti Gold International Limited IPO is 75 equity shares. Login to your account now.
When is the Shanti Gold International Ltd allotment date?
The allotment Date for Shanti Gold International Ltd IPO is 30th Jul 2025. Login to your account now.
When is the Shanti Gold International Ltd IPO listing date?
The listing Date for Shanti Gold International Ltd IPO is 30th July 2025. Login to your account now
What is the minimum investment required for the Shanti Gold International Ltd IPO?
In the Retail segment the minimum investment required is Rs. 14,925. Login to your account now
What is the maximum investment allowed for the Shanti Gold International Limited IPO?
In the Retail segment the maximum investment requirement is Rs. 1,94,025. Login to your account now
What are the risks associated with investing in the Shanti Gold International Ltd IPO?
- The company’s significant portion of business operations and revenue generation is concentrated in Southern India, which accounted for 72.76% of its revenue from operations in FY25.This regional concentration exposes the company to various risks, including the economic vulnerability of these regions, shifts in consumer behavior, geopolitical, regulatory and local market risks such as natural disasters, infrastructure issues, or political instability, which could disrupt supply chains, operations, and sales in these regions.
- The company’s dependence on gold may expose it to market and demand fluctuations. Furthermore, the non-availability or high cost of quality gold could affect its ability to meet customer demand in a timely manner or lead to a decline in the quality of the jewellery produced, which may have an adverse effect on its business, results of operations, financial condition and prospects.
- The company’s business is dependent on its manufacturing capabilities at the Andheri Manufacturing Facility. Unplanned slowdowns, unscheduled shutdowns, or prolonged disruptions in its manufacturing operations, as well as an inability to effectively utilize its production capacity, could have an adverse effect on its business, results of operations, cash flows, and financial condition.
When will the Shanti Gold International Ltd IPO shares be credited to my Demat account?
The Shanti Gold International Limited. IPO be credited to the account on allotment date which is 31st Jul 2025. Login to your account now
Where can I find the Shanti Gold International Limited IPO prospectus?
The prospectus of Shanti Gold International Limited IPO prospectus can be find on the website of SEBI, NSE and BSE
