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Shanti Gold's ₹360cr IPO subscribed 81x, hits over 15% pop

Business

Shanti Gold International's IPO was a hit, subscribed 81.17 times and raising ₹360.11 crore.
Shares were priced at ₹189-₹199 and started trading today at over 15% above the issue price—slightly below what the gray market expected, but still a strong debut.

Shanti Gold makes trendy gold jewelry

Based in Mumbai since 2003, Shanti Gold makes trendy CZ casting gold jewelry—think bangles, rings, and necklaces.
They run one big facility that produces up to 2,700kg of jewelry each year, supplying major brands and wholesalers across India and even overseas.

Financials and IPO details

In FY25, revenue jumped 55.52% to ₹1,106.41 crore and profits doubled to ₹56 crore.
The IPO money will help build a new Jaipur facility, cover working capital needs, pay off debt, and support general business growth.