Shanti Gold International Ltd. is set to launch its initial public offering (IPO) to raise over Rs 350 crore from the primary market. The mainboard IPO, comprising entirely a fresh issue of shares, will open for subscription on July 25.
Ahead of its opening, the grey market premium (GMP) for the issue indicated a flat listing of shares.
Investors who want to bid for shares in the IPO can check the following details before participating in the subscription.
Shanti Gold International IPO GMP Today
According to InvestorGain, the GMP for the Shanti Gold International IPO was nil as of 10 a.m. on July 24. The latest GMP indicates a potentially flat listing for Shanti Gold International shares. However, new trends can emerge once the issue opens for subscription.
Note: GMP does not represent official data and is based on speculation.
Shanti Gold International IPO: Key Details
The Shanti Gold International IPO is a book-building issue worth Rs 360.11 crore. It comprises entirely a fresh issue of 1.81 crore shares.
The IPO price band has been set between Rs 189 and Rs 199 per share.
To participate in the IPO subscription, retail investors need to bid for a single lot size of 75 shares, requiring an investment of Rs 14,175. Small Non-Institutional Investors need to bid for 14 lots, amounting to a minimum investment of Rs 2,08,950. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 68 lots. It will lead to an investment of Rs 10,14,900.
Shanti Gold International subscription will end on July 29. The allotment of shares is proposed to be finalised on July 30. The company will transfer shares to the Demat accounts of successful bidders on July 31 and refunds for non-allottees will also be processed on the same day.
Shares of Shanti Gold International are proposed to be listed on the BSE and NSE on Aug. 1.
The company has reserved 50% of the net issue for the Qualified Institutional Buyers (QIBs). Retail investors will be allocated at least 35% of the net issue and the remaining 15% will be set aside for Non-Institutional Investors (NIIs).
Choice Capital Advisors Pvt. is the book-running lead manager of the Shanti Gold International IPO. Bigshare Services Pvt. is the registrar for the issue.
Use Of Proceeds
The company has proposed to use proceeds from the IPO to fund capital expenditure to set up a new facility, for working capital requirements and to clear debt. A portion of the funds will also be used for general corporate purposes.
About Shanti Gold International
The company specialises in manufacturing gold jewellery. It was started in 2003 and is headquartered in Mumbai.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
