Shanti Gold IPO GMP Indicates Robust Listing On Second Day Of Bidding

Shanti Gold IPO GMP: Shanti Gold International IPO opened for bidding on July 25. The gold jewellery maker’s public issue is slated to close on July 29. Here’s a look at the key Grey Market Premium (GMP), subscription so far and other key details of the public issue:

Shanti Gold IPO GMP Today

Shanti Gold IPO GMP held steady at Rs 38 for the third straight day according to websites which monitor the grey market activity of IPO-bound stocks. In the last eleven sessions, the GMP for Shanti Gold IPO has ranged between Rs 0 and Rs 38.

Shanti Gold IPO price has been fixed between Rs 189 and Rs 199 per share. At the upper end of the price band, the grey market price of Shanti Gold shares is Rs 237 (Rs 199 + Rs 38). At the grey market price, the unlisted shares of Shanti Gold International are trading at a premium of 19 per cent compared to the upper end of the price band. GMP is one of the many indicators of investor interest. However, it is not the only measure of investor interest, and the listing of a stock ultimately depends on several factors apart from the GMP.

Shanti Gold IPO Subscription Status

As of July 28, Shanti Gold IPO has been 1.29 times across categories as the public issue received bids for 1,62,92,850 shares compared to the 1,26,67,200 shares on offer. The public issue has witnessed strong interest from the Retail Individual Investor category as the public issue was booked 2 times, receiving bids for 1,26,93,300 shares compared to the 63,33,600 shares on offer. The issue was booked 1.32 times in the Non-Institutional Investor (NII) category as it received bids for 35,72,475 shares compared to the 27,14,400 shares on offer. The Qualified Institutional Buyers category has been subscribed 10 per cent so far. QIBs have placed bids for 27,075 shares compared to the 36,19,200 shares set aside for the category.

Shanti Gold IPO Offer Size

Shanti Gold IPO is worth Rs 360.11 crore and consists of a completely fresh issuance of 1.81 crore shares.

Shanti Gold IPO Price Band

Shanti Gold IPO price band has been set at Rs 189 to Rs 199 apiece. Retail individual investors can apply for Shanti Gold IPO by placing bids for 1 lot consisting of 75 shares. Retail investors can apply for Shanti Gold IPO by making a minimum investment of Rs 14,175.

Shanti Gold IPO Key Dates

Shanti Gold IPO subscription window is scheduled to close on July 29. Subsequent to the closure of the bidding window, the basis of allotment of Shanti Gold IPO will be finalised on July 30. Shanti Gold Ltd stocks will make their debut on the NSE and BSE. Shanti Gold IPO listing date is August 1.

Shanti Gold IPO: Objective

Shanti Gold International plans to use Rs 46.3 crore out of the funds raised via the public issue to fulfill its capital expenditure requirements. As much as Rs 200 crore out of the total funds will be used to fulfill the company’s working capital requirements. A portion of the proceeds totalling to Rs 17 crore will be used for repayment or prepayment of the company’s borrowings. Shanti Gold International will also use the proceeds of the public issue for general corporate purposes.

About Shanti Gold

Shanti Gold International Ltd was incorporated in 2003. The company is a manufacturer of gold jewellery. The company has an in-house manufacturing facility.