Shanti Gold International IPO: Mumbai’s jewelery company Shanti Gold International is opening a public issue of Rs 360.11 crore on 25 July. A day earlier, the company raised Rs 108.03 crore from anchor investors. The company finalized an allocation of 54.29 lakh shares to 15 anchor investors at a price of Rs 199 per share. Society General, Wealth Capital Fund, Speed Growth Fund, Founders Collective Fund, Smart Horizon Options Fund, India Alpha Fund and Sunrise Investment Options Fund participated in the anchor book.
The closing of the IPO will be on 29 July. After this, the allotment will be finalized on July 30 and the listing of shares is expected to be on BSE, NSE on 1 August. The price band for bidding in IPO is Rs 189-199 per share and lot size 75 shares. There will be 1.81 crore new shares in the public issue.
How much part of IPO reserves
50 percent of the IPO is reserved for qualified institutional buyers, 35 percent for retail investors and 15 percent for non -institutional investors. The Choice Capital Advisors, Book Running Lead Manager for Shanti Gold International IPO. At the same time, BigShare Services Pvt LTD is the Registrar. The promoters of the company are Pankaj Kumar H Jagwat, Manoj N Jain and Shashank Bhanwarlal Jagwat.
How to use IPO money
Shanti Gold International will use Rs 46.3 crore from its IPO to set up a factory in Jaipur. 200 crore rupees will be spent on working capital needs, while Rs 17 crore will be used to repay the loan. The rest of the money will be for normal corporate purposes. Currently, the company’s factory is in Mumbai. The company makes jewelery products for many corporate jewelery brands such as JoyAlukkas India, Lalita Jewelery Mart, Alukkas Enterprises, Sri Kalpataru Jewelers.
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