Shanti Gold International IPO: Issue subscribed 8.25 times so far

The initial public offering (IPO) of Shanti Gold International witnessed strong investor interest, with the issue being subscribed 8.25 times so far on the final day of bidding on Tuesday, July 29.

According to the BSE data, the IPO received bids for 10,45,18,800 shares against 1,26,67,200 shares on offer until 10:36 am.

Among investor categories, the non-institutional investors (NIIs) portion was subscribed 17.09 times, while the retail individual investors (RIIs) segment saw 9.13 times subscription. The qualified institutional buyers (QIBs) category received a subscription of 8 per cent.

On Thursday, ahead of the IPO launch, the company had raised over Rs 108 crore from anchor investors.

The Rs 360-crore IPO, which is entirely a fresh issue of 1.81 crore equity shares, will close on Tuesday.

The company has fixed the price band between Rs 189 and Rs 199 per share.

Proceeds utilisation

Proceeds from the IPO will be used to set up a new manufacturing facility in Jaipur, meet incremental working capital needs, repay certain debts, and fund general corporate purposes.

About Shanti Gold International

Shanti Gold International is engaged in the design and production of a wide range of gold jewellery products, catering to diverse customer preferences.