Shanti Gold International IPO: The initial public offering (IPO) of Shanti Gold International closed for subscription today, July 29, amid a stellar demand from all categories of investors and a steady trend in the grey market premium (GMP).
Shanti Gold International IPO had opened for subscription on July 25 in the price band of ₹189 to ₹199 per share. The ₹360 crore IPO consisted entirely of fresh issue of 1.81 crore shares.
Investors could bid for Shanti Gold International IPO in lots of 75 shares, requiring a retail investor to shell out ₹14,175 to subscribe to one lot of the issue.
The company plans to use the funds raised via the IPO for funding capital requirements for setting up a facility in Jaipur, meeting working capital needs, repayments of certain corporate borrowings and general corporate needs.
Now, with the closure of Shanti Gold International IPO, focus will shift towards its allotment status. Shanti Gold International IPO allotment date is likely to be July 30.
Shanti Gold International IPO Subscription Status
Shanti Gold International IPO was subscribed 80.80 times at the end of the third day of the bidding process on Tuesday. The company garnered bids for 102.35 crore shares as against 1.26 crore shares on offer.
The NII category was subscribed the most at 151.18 times, followed by the QIB segment, with 117.33 times subscription. Meanwhile, the retail portion received 29.77 times bids.
Shanti Gold International IPO GMP
Shanti Gold International IPO GMP today is ₹37 per share. This means that shares of Shanti Gold International are trading ₹37 above the issue price in the grey market. At the prevailing GMP, Shanti Gold International shares could list at ₹236, a premium of 18.6%.
However, investors should note that GMP is subject to rapid fluctuations and should not be used as the basis for making investment decisions. Instead, investors should also consider the company fundamentals and their own risk appetite.
About Shanti Gold International
The company is a leading manufacturer of high-quality 22kt CZ casting gold jewellery, in terms of installed production capacity. It specialises in the design and production of all types of gold jewellery.
The company offers a wide range of high-quality, intricately designed pieces, including bangles, rings, necklaces, and complete jewellery sets across various price points, ranging from jewellery for special occasions, such as weddings to festive and daily-wear jewellery.
