Shanti Gold International Limited
Minimum investment
Bidding date
25 Jul - 29 Jul 2025
Price range
₹189 - ₹199
Minimum quantity
75
Minimum investment
₹14,175
Issue size
—
IPO doc (link)
RHP docsListing exchange
NSE/BSE
Category | Subscription |
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Qualified Institutional Buyers | - |
Retail Individual Investor | - |
Non-Institutional Investor | - |
Others | - |
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Shanti Gold International Ltd., incorporated in 2003, is a prominent manufacturer of 22kt Cubic Zirconia (CZ) casting gold jewellery. Headquartered in Mumbai, the company specializes in intricately designed bangles, rings, necklaces, and bridal sets catering to weddings, festive occasions, and daily wear. It operates a 13,448.86 sq. ft. manufacturing facility in Andheri East, with an annual production capacity of 2,700 kg.
With a design team of 80 CAD professionals, the company crafts over 400 new CZ gold designs every month, combining traditional craftsmanship with advanced design technology. Its client base includes reputed jewellery brands such as Joyalukkas, Lalitha Jewellery, Alukkas Enterprises, and Vysyaraju Jewellers.
As of May 31, 2025, the company has a workforce of 222 employees and 100 contractual labourers and operates across 15 states and 1 union territory in India.
Strong Financial Growth: Shanti Gold International has shown robust financial performance, with revenue increasing by 56% and PAT doubling by 108% from FY24 to FY25 reflecting strong operational efficiency and scalability.
Advanced Design Capabilities: The company boasts a dedicated team of 80 CAD designers who create over 400 new jewellery designs every month, ensuring constant innovation and customer appeal.
Experienced Promoters: The business is led by experienced promoters with proven execution capabilities in the jewellery manufacturing industry, bringing strategic direction and long-term vision.
Integrated In-House Manufacturing: With a modern 13,448.86 sq. ft. facility in Mumbai, Shanti Gold manages design, production, and packaging internally, ensuring high-quality standards at every stage.
Established Client Relationships: The company enjoys long-term associations with reputed jewellery brands like Joyalukkas, Lalitha Jewellery, and Alukkas Enterprises, strengthening its market presence.
High Leverage Position: The company has a debt-to-equity ratio of 1.60, which indicates a relatively high reliance on borrowed funds. This could impact its financial flexibility in the future.
Sensitivity to Gold Price Fluctuations: Being in the gold jewellery industry, the business is highly exposed to changes in global gold prices, which could affect input costs and margins.
Moderate Profit Margins: Despite rising revenues, the PAT margin stands at 5.05% and EBITDA margin at 8.83%, leaving limited cushion to absorb adverse market conditions.
Competitive Industry Landscape: The Indian jewellery market is highly fragmented and competitive, where pricing, design innovation, and brand loyalty play critical roles in sustaining growth.
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