Shanti Gold International files IPO papers with Sebi

Manufacturer of gold jewellery Shanti Gold International has filed draft papers with markets regulator Sebi to mobilise funds through an initial public offering (IPO). The IPO is entirely a fresh issue of 1.8 crore equity shares, according to the draft red herring prospectus (DRHP) filed on Monday.

Proceeds from the fresh issue to the extent of Rs 45.83 crore will be used for setting up of the Jaipur facility; Rs 190 crore will be allocated for funding the company's incremental working capital requirements; Rs 20 crore will be utilised for payment of debt and a portion will be used for general corporate purposes.

The Mumbai-based Shanti Gold specialises in the design and production of various types of gold jewellery. With a team of 80 professionals utilising computer-aided design (CAD) technology, the company develops over 400 designs per month on a regular basis.


As of now, the company has an installed manufacturing capacity of 2,700 kg per annum.

Shanti Golds' revenue from operations increased 4.71 per cent to Rs 711.43 crore in FY24 from Rs 679.40 crore in the preceding fiscal year while profit after tax surged 35.57 per cent to Rs 26.87 crore in FY24 from Rs 19.81 crore a year earlier.

Choice Capital Advisors is the sole book-running lead manager to the issue.