Mumbai-based Shanti Gold International Ltd has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering.IPO,
IPOOne equity share with face value of 10, involves a fresh issue of up to 18 million equity shares altogether.
The proceeds from the fresh issue will be utilized as follows: Rs 45.83 crore will finance the capital expenditure for the proposed Jaipur facility. Rs 190 crore will be allocated for incremental working capital requirements of the company. Rs 20 crore will be used to partially or fully repay or prepay certain borrowings, and the remaining will be used for general corporate purposes.
The issue is being conducted through a book-building process, wherein the net issue is allocated as follows: up to 50% on a proportionate basis to qualified institutional buyers, at least 15% to non-institutional bidders and retail At least 35% for. Individual bidders.
Promoter and Director of Shanthi Gold International Limited, Mr. Pankajkumar H. Jagawat and Mr. Manojkumar N. Jain, each has over 20 years of experience in the jewelery industry. Furthermore, the Promoter and Director Mr. Shashank Bhawarlal Jagawat has over 16 years of experience. Of industry experience.
Choice Capital Advisors Pvt Ltd is the sole book-running lead manager to the issue and Biggs Hair Services Pvt Ltd is the registrar to the offer.
about the company
Shanti Golds’ operating revenue increased by 4.71 percent 679.40 crore in financial year 2023 711.43 crore in FY 2024, and 505.90 crore for the six months ending September 30, 2024 and profit after tax increased by 35.57 percent 19.81 crore in financial year 2023 26.87 crore more in FY 2024 18.25 for the six-month period ending September 30, 2024.
According to the CARE report mentioned in the DRHP, the Indian jewelery market is expected to grow by 13.1% YoY to Rs 4,653 billion in CY24. Furthermore, the market is expected to grow at a compound annual growth rate (CAGR) of 9.7% between CY23 and CY29. 7,162 billion. In India, the growth in demand for gold jewelery can be attributed to the growing middle class population and their rising disposable income levels. This trend is particularly prominent in urban areas where economic growth has increased financial freedom and purchasing power.
In the six-month period ending September 30, 2024, in the financial years 2024, 2023 and 2022, Shanti Gold International Limited served 332, 372, 379 and 271 customers respectively and revenue from operations from sale of jewelery and labor charges. received. 505.90 crores, 711.43 crores, 679.40 crores more 428.34 crore respectively, i.e. an average compound annual growth rate of 28.88 percent.
