Shanti Gold Lists At 15% Premium After Blockbuster IPO

Shares of Shanti Gold International Ltd. listed at a 15% premium to its initial public offering price on Friday. The scrip opened at Rs 227.55 apiece on the NSE and Rs 229.1 on the BSE. The issue price was Rs 199.

The company raised Rs 360.11 crore via an entirely fresh issue of shares. Shanti Gold International's IPO was open between July 25 and July 29.

The issue was subscribed 81.17 times on its third day, led by demand from non-institutional investors (151.48 times), institutional investors (117.33 times), and retail investors (30.37 times). The IPO received bids amounting to Rs 14,791 crore.

The company had raised Rs 108 crore from anchor investors in pre-IPO fundraising.

Incorporated in 2003, Shanti Gold International is engaged in the business of manufacturing gold jewellery. The company manufactures high-quality 22kt CZ casting gold jewellery, specialising in design and production.

The company has an in-house manufacturing setup for design, production, and packaging.

The latest grey market premium for Shanti Gold International was Rs 34 per share, which indicated a listing gain of 17% over the IPO price, according to InvestorGain.