The initial public offer of Shanti Gold International ltd. a manufacturer of gold jewellery, got subscribed 1.16 times on the first day of bidding on Friday.
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About Shanti Gold International Ltd:
Incorporated in 2003, Shanti Gold International Ltd offers a wide range of designs and products of 22KT CZ gold jewellery
Shanti Gold International IPO review
As per GEPL Capital, taking into account the FY25 earnings in relation to the company’s paid-up capital after the IPO, the issue is valued at a P/E ratio of 19.2 times.
The brokerage opines that the company is appropriately valued when compared to its competitors, is strategically broadening its geographic reach, and is experiencing robust growth in both revenue and profit after tax (PAT). Consequently, the brokerage advises a “Subscribe” rating for the issue.
According to a brokerage report from Adroit Financial Services Private Ltd, the company is set to achieve cost savings by paying off a Rs. 17 crore term loan from Saraswat Co-operative Bank. This will enhance the company’s cash flow in the long run, strengthening its foundation to seize emerging market opportunities.
A significant risk for the company is the potential decline in gold prices, which may affect the valuation of their merchandise. As a result, the recommendation is to “Subscribe” to the IPO for a long-term investment, taking into account its valuation and potential for growth.
The three-day IPO received bids for 1,46,47,725 shares against 1,26,67,200 shares on offer, as per NSE data.
Retail Individual Investors (RIIs) part fetched 1.84 times subscription while the category for non-institutional investors got subscribed 1.09 times. The Qualified Institutional Buyers (QIBs) portion received 1 per cent subscription.
Shanti Gold International IPO GMP today
Shanti Gold IPO GMP is +38. This indicates Shanti Gold International share price was trading at a premium of ₹38 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Shanti Gold share price was indicated at ₹237 apiece, which is 19.10% higher than the IPO price of ₹237.
According to the grey market activities observed over the past 11 sessions, today’s IPO GMP is showing an upward trend and is anticipated to have a robust listing. The minimum GMP recorded is ₹0.00, while the maximum GMP stands at ₹39, as per experts from investorgain.com.
Shanti Gold International on Thursday said it has mopped up a little over Rs 108 crore from anchor investors.
The Rs 360-crore initial public offering (IPO) of Shanti Gold will conclude on July 29.
The price band for the offer has been fixed at Rs 189-199 per share.
The IPO is entirely a fresh issue of 1.81 crore shares worth Rs 360.11 crore, at the upper end of the price band, with no offer-for-sale (OFS) component.
Proceeds of the issue will be used for setting up a facility in Jaipur, funding the company’s incremental working capital requirements, payment of debt and for general corporate purposes.
Shanti Gold specialises in the design and production of various types of gold jewellery.
Choice Capital Advisors is the sole book-running lead manager to the issue.
Business Overview:
SGIL is a manufacturer of 22KT CZ casting gold jewellery, specializing in the design and production of all types of gold jewellery. This includes a wide range of intricately crafted bangles, rings, necklaces, and complete jewellery sets. These are offered across varied price points, catering to multiple consumer segments from daily-wear pieces to festive designs and exclusive bridal collection.
Production Facility:
The company’s manufacturing facility spans over 13,448.86 square feet in Andheri East, Mumbai. In FY25, it has an installed manufacturing capacity of 2,700 kg per annum
