Shanti Gold IPO: GMP, Subscription Status and More. All You Need to Know
The subscription window of Shanti Gold International Limited will expire today, July 29 at 5:00 pm. The price band of the jewellery company has been fixed between ₹189 to ₹199 per share.
Shanti Gold IPO: GMP, Subscription Status and More. All You Need to Know
The subscription window of Shanti Gold International Limited will expire today, July 29 at 5:00 pm. The price band of the jewellery company has been fixed between ₹189 to ₹199 per share. The issue is set to list on NSE and BSE. The company plans to raise ₹360.11 crore via fresh issue of shares.
Shanti Gold International GMP
As per market observers, shares of Shanti Gold Ltd are available at a premium of ₹39 in the grey market today. This also signals a listing gain of over 20% for potential investors.
Shanti Gold International Subscription Status
As of 5:00 pm on day 2, the public issue has been subscribed 1.16 times, while the retail portion was booked 1.84 times. Subscription in the NII segment came at 1.09 times.
Should you buy it?
Assigning a ‘subscribe’ rating to mainboard IPO, Canara Bank Securities said, “The company has had a robust financial performance for the past three years, where revenue has grown at a CAGR of 28% from 679 Cr to 1106 Cr, and PAT has grown at 68% CAGR from 19 Cr to 55 Cr. The issue is fairly priced at 19X PE as compared to the 23X PE average of its listed peers. However, based on PB, the issue is slightly overpriced at 7X PB compared to the 5X PB average of listed peers. The company has a solid business foundation focusing on the B2B segment, with the upcoming plant in Jaipur, the company is all set to capture the Northern India market. We recommend SUBSCRIBE for the long-term gains.”
Gaurav Goel, Founder & Director at Fynocrat Technologies, said, “Despite its strong growth, established design credentials, and high return ratios, Shanti Gold International Ltd.'s IPO is priced at a valuation that leaves little margin of safety relative to sector peers. The company's business model is capital-intensive and faces concentration risks in geography and clientele, while persistent negative cash flows further temper the investment case. While long-term trends in the jewellery sector remain favourable, Shanti Gold's elevated valuation and operational risks suggest investors adopt a cautious approach.”
