Mumbai-based Shanti Gold International Limited files DRHP for IPO

Mumbai-based Shanti Gold International Limited has filed Draft Red Herring Prospectus with the Securities and Exchange Board of India to raise funds through an initial public offering. The proceeds from the fresh issue will be utilized as follows: ₹45.83 crore will fund capital expenditure for the proposed Jaipur facility, ₹190 crore will be allocated towards the company's incremental working capital needs, ₹20 crore will be used to repay or prepay certain borrowings, either partially or fully, and the remainder will go toward general corporate purposes. The promoters and directors of Shanti Gold International Limited, Mr. Pankajkumar H. Jagawat and Mr. Manojkumar N. Jain, each have over 20 years of experience in the jewellery industry.Additionally, promoter and director Mr. Shashank Bhawarlal Jagawat has over 16 years of industry experience. About the company Shanti Golds’ Revenue from Operations increased by 4.71 per cent from ₹679.40 crore in Fiscal 2023 to ₹711.43 crore in Fiscal 2024, & ₹505.90 crore for the six months period ended September 30, 2024 and Profit after tax increased by 35.57 per cent from ₹19.81 crore in Fiscal 2023 to ₹26.87 crore in fiscal 2024 & ₹18.25 for the six months period ended September 30, 2024.