Shanti Gold International Submits DRHP To SEBI For IPO
Shanti Gold International seeks to raise funds through its IPO to support working capital needs, repay borrowings, and expand its market presence in India.
Shanti Gold International Submits DRHP To SEBI For IPO
Shanti Gold International Ltd. plans to raise funds through its initial public offering. The company will offer 1.80 crore shares through a fresh issue with no offer for sale provision.
The net proceeds received will be utilised towards funding the working capital, repaying certain borrowings of the company, and for general corporate purposes, according to the draft red herring prospectus.
The IPO will help Shanti Gold International in gaining visibility and improving their brand image among their potential customers. Also, it will help in creating a public market for their equity shares in India.
The price band for the issue will be decided after consulting the book-running lead manager on the basis of an assessment of market demand for the shares. The face value of the equity share is Rs 10 per share.
Choice Capital Advisors Pvt. Ltd. India is the leading bookrunner, while Bigshare Services Pvt. Ltd. is the registrar for the offer.
The jewellery maker's revenue from operations rose to Rs 711.43 crore, representing a 4.71% rise in the fiscal 2024 as compared to Rs 679.40 crore in the preceding financial year.
Its profits soared by 35.57% to Rs 26.87 crore in the last fiscal year, 2024, as against Rs 19.81 crore a year earlier.
Shanti Gold International is involved in manufacturing high-quality 22kt CZ casting gold jewellery. It specialises in the designing and producing of all types of gold jewellery, including bangles, rings, necklaces, and complete jewellery sets across various price points.
