15 January 2025, 02:55 PM
Shanti Gold International Ltd.
Shanti Gold International has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO is entirely a fresh issue of 1.8 crore equity shares.
Proceeds from the fresh issue to the extent of Rs 45.83 crore will be used for setting up of the Jaipur facility; Rs 190 crore will be allocated for funding the company's incremental working capital requirements; Rs 20 crore will be utilised for payment of debt and a portion will be used for general corporate purposes. Choice Capital Advisors is the sole book-running lead manager to the issue.
Shanti Gold International specialises in the design and production of various types of gold jewellery. With a team of 80 professionals utilising computer-aided design (CAD) technology, the company develops over 400 designs per month on a regular basis.