The Shanti Gold International IPO presents investors with an opportunity to participate in one of India’s leading manufacturers of high-quality 22kt CZ casting gold jewellery. Established in 2003, the company operates a fully integrated facility in Mumbai with an annual installed production capacity of 2,700 kg and leverages cutting-edge CAD technology and skilled artisans to deliver over 400 unique designs each month. The Shanti Gold International IPO opens for subscription from July 25 to July 29, 2025, as the company seeks to raise ₹360.11 crore with a price band of ₹189 to ₹199 per share.
₹35
₹199
₹227.55
Expert Opinions
The Shanti Gold International IPO is attracting optimistic market sentiment, reflecting the company’s strong brand reputation and rapidly growing presence in the jewellery manufacturing sector. Shanti Gold International’s key strengths include its integrated Mumbai facility, extensive design portfolio, robust production capacity, and a proven ability to meet both domestic and export demands. The company benefits from strategic expansion, seasoned management, and deep industry relationships. However, risks center on fluctuating gold prices, high industry competition, and dependence on consistent jewellery demand, which can be sensitive to economic cycles.
On valuation, the Shanti Gold International IPO stands out with a Return on Equity (ROE) of 44.85%, Return on Capital Employed (ROCE) of 25.70%, and a Net Asset Value (NAV) of ₹28.22 for FY 2025, reflecting high capital efficiency and profitability. For long-term investors, Shanti Gold’s innovative capacity, strong market presence, and sound financials offer compelling prospects, assuming effective risk management in a dynamic sector.
Investor Considerations
The Shanti Gold International IPO presents investors with an opportunity to participate in a fast-growing, integrated jewellery manufacturer known for its extensive 22kt CZ gold design range. The company demonstrated strong fundamentals in FY 2025, with revenue rising to ₹1,112.47crore and profit after tax reaching ₹55.84crore, reflecting robust operational execution and demand. The jewellery sector continues to benefit from rising urbanization, wedding demand, and an increasing preference for branded gold products, which supports a positive industry outlook.
The Shanti Gold International IPO is valued at a Price to Book Value of 7.05, a PAT margin of 5.05%, and a debt/equity ratio of 1.60 for FY 2025, indicating healthy profitability and manageable leverage. The company’s growth prospects are anchored in strategic capacity expansion, a new Jaipur facility, and deepening domestic and international market penetration. Key risks include gold price volatility, regional sales concentration, and working capital requirements. Long-term investors could benefit from sector growth and consistent financial performance, while short-term gains may fluctuate with market cycles.
| Date | GMP | Trend |
|---|---|---|
| 31 Jul 2025 11.50 | ₹35 | Down |
| 30 Jul 2025 11.04 | ₹40 | --- |
| 29 Jul 2025 11.23 | ₹40 | --- |
| 28 Jul 2025 11.13 | ₹40 | --- |
| 25 Jul 2025 10.51 | ₹40 | Up |
| 24 Jul 2025 10.35 | ₹00 | --- |
| 23 Jul 2025 10.49 | ₹00 | --- |
| 22 Jul 2025 10.45 | ₹00 | --- |
| 20 Jul 2025 13.04 | ₹00 | --- |
| 19 Jul 2025 12.12 | ₹00 | --- |
FAQs
The Grey Market Premium showed good accuracy in predicting Shanti Gold International IPO’s listing performance. With a final GMP of ₹35, it projected a premium of 17.59% over the issue price of ₹199. The stock listed at ₹227.55, delivering a gain of 14.35%. This resulted in a small prediction error of 3.24%, where the GMP correctly signaled a positive listing and closely matched the actual gain, reflecting good reliability in this case.
Shanti Gold International IPO Current GMP is ₹35.
Shanti Gold International IPO Expected Returns is 17.59%.
Shanti Gold International IPO estimated listing price is ₹234.