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6d ago

Shanti Gold IPO Allotment Completes After 81x Subscription, Listing Slated for August 1

Final allocations reflect high demand across investor categories with a ₹36-38 grey market premium signaling potential 18-19% listing gains.

Over 23 lakh applications, max 4% allotment odds: Shanti Gold IPO turns into lottery
Shanti Gold International IPO Allotment Status
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Overview

  • The IPO received bids for over 102.8 crore shares against 1.26 crore on offer, resulting in an overall subscription of 81.17 times and final allocation on July 30.
  • Retail investors applied 30.37 times but face roughly 4% allotment odds while NIIs and QIBs saw 151.48 times and 117.33 times demand respectively.
  • Unofficial market trades peg the premium at ₹36–38 per share, suggesting a listing price near ₹235–237 and gains of about 18–19% over the ₹199 upper band.
  • Proceeds from the ₹360.11 crore fresh issue will fund ₹200 crore in working capital, ₹46 crore for a new Jaipur manufacturing unit and ₹17 crore to prepay existing debt.
  • Founded in 2003, Shanti Gold International reported FY25 revenue of ₹1,106 crore and net profit of ₹55.8 crore and exports 22 kt cubic zirconia gold jewellery to markets including the US, UAE, Singapore and Qatar.