Shanti Gold International IPO Subscribed 1.16x on Day 1; Retail Portion Booked 1.84x
By Shishta Dutta | Published at: Jul 25, 2025 07:02 PM IST
Mumbai, July 25, 2025 — Shanti Gold International Ltd witnessed a strong response from retail and non-institutional investors on Day 1 of its ₹360 crore IPO, with an overall subscription of 1.16 times as of 5:00 PM. The company aims to use the raised funds for capital expenditure at its facility in Jaipur. Besides this, funds will be used as working capital and for general corporate purposes
The issue, which opens on July 25 and closes on July 29, is priced between ₹189 and ₹199 per share with a lot size of 75 shares (minimum investment of ₹ 14,925).
Day 1 Subscription Status (As of July 25, 2025, 5:00 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 36,19,200 | 27,075 | 0.01 |
| Non-Institutional Investors (NIIs) | 27,14,400 | 29,68,725 | 1.09 |
| – Bids > ₹10L | 18,09,600 | 16,35,600 | 0.90 |
| – Bids ₹2L–₹10L | 9,04,800 | 13,33,125 | 1.47 |
| Retail Individual Investors (RIIs) | 63,33,600 | 1,16,83,950 | 1.84 |
| Total | 1,26,67,200 | 1,46,79,750 | 1.16x |
The retail category led the surge, with 84% more bids than reserved shares. QIB participation, however, remained muted at just 1% of the quota on Day 1.
IPO Details & Timetable
| Event | Date |
|---|---|
| IPO Open Date | 25 July 2025 |
| IPO Close Date | 29 July 2025 |
| UPI Mandate Deadline | 29 July 2025 (5 PM) |
| Allotment Finalisation | 30 July 2025 |
| Refund Initiation | 31 July 2025 |
| Shares Credited to Demat | 31 July 2025 |
| Listing Date (BSE & NSE) | 01 August 2025 |
Price-Wise Demand Snapshot
As per the cumulative bid data across price points:
- Highest demand was at ₹189, with 1,46,81,700 shares bid
- Cut-off option received 1,01,28,600 bids
- Demand tapered slightly toward the upper end of ₹199 (1,46,35,650 bids)
Company Overview
Shanti Gold International Ltd is a Mumbai-based manufacturer of 22kt CZ casting gold jewellery, including bangles, rings, necklaces, and bridal sets. It operates a manufacturing facility in Mumbai and plans to expand with a new unit in Jaipur.
The company exports to the UAE, USA, Singapore, and Qatar, while also catering to India’s growing domestic jewellery market.
Next Update: Final subscription figures to be released post-market on July 29, followed by allotment on July 30.
Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.
If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.
Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations
