NIIs drive demand for Shanti Gold IPO; subscription reaches 16x, GMP up 19%

Shanti Gold IPO Day 3 update, subscription status: The non-institutional investors (NIIs) were driving the demand for the initial public offering of Shanti Gold International (Shanti Gold IPO) on the final day of subscription. Retail investors too followed the league; however, the participation from the qualified institutional buyers (QIBs) remained sluggish so far.

 

Shanti Gold IPO has garnered bids for a total of 20,67,81,900 shares against 1,26,67,200 on offer, leading to an oversubscription of 16.32 times, till around 12:03 PM on Tuesday, July 29, showed the NSE data.

 

The NIIs have oversubscribed the category reserved for them by 43.43 times, retail investors by 13.90 times, while the QIBs have booked 24 per cent of the quota reserved for their category.

 

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Shanti Gold IPO details

Shanti Gold IPO comprises an entirely fresh issue of 18.1 million equity shares aggregating up to ₹360.11 crore. The public issue does not have any offer for sale (OFS) component.

 

Shanti Gold International IPO is being offered at a price band of ₹189–199 per share, and a lot size of 75 shares.

 

A retail investor would require a minimum of ₹14,925 (taking the upper end of the IPO price into consideration) to bid for one lot or 75 shares of Shanti Gold International IPO, and to bid for a maximum of 13 lots or 975 shares, amounting to ₹1,94,025.

Shanti Gold IPO grey market premium (GMP) today

The unlisted shares of Shanti Gold continue to trade at a decent premium in the grey markets on the final day of its subscription window.

 

According to sources tracking unofficial market activities, Shanti Gold International shares were seen exchanging hands at around ₹236.5 per share, reflecting a grey market premium (GMP) of ₹37.5 or 18.84 per cent over the upper end of the issue price.

Shanti Gold IPO review

Analysts at Arihant Capital have recommended investors to subscribe to the Shanti Gold IPO, while those at Anand Rathi Research Team have recommended subscribing to the issue for a long-term perspective. READ MORE

Shanti Gold International IPO key dates

As the public offering closes for subscription today, the basis of allotment of Shanti Gold IPO shares is expected to get finalized on July 30. The successful allottees will receive the company’s shares into their demat account by July 31.

 

Shanti Gold shares are slated to list on the BSE and NSE tentatively on August 1, 2025.

Shanti Gold International

Shanti Gold International is a manufacturer of high-quality 22kt CZ casting gold jewellery, in terms of installed production capacity, specialising in the design and production of all types of gold jewellery (Source: CARE Report). 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.