About Shanti Gold International Limited

Shanti Gold International Limited is a public limited company headquartered in Mumbai. The business traces its roots to a partnership firm set up on August 05, 2003, and was converted into a public limited company with a fresh certificate of incorporation on November 01, 2013; a certificate of commencement of business followed on November 22, 2013. The company manufactures high‑quality 22kt CZ casting gold jewellery and specialises in the design and production of bangles, rings, necklaces and complete jewellery sets across wedding, festive and daily‑wear categories. As of May 31, 2025, it had a presence across 15 states and 2 union territories, with operations in key cities such as Mumbai, Bangalore, Chennai and Hyderabad, and branch offices in Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, Gujarat and Madhya Pradesh. The company serves both domestic and international markets and reported sales to the UAE, Singapore and Qatar in recent fiscals. It catered to 455 customers in Fiscal 2025 (372 in Fiscal 2024 and 379 in Fiscal 2023).

Shanti Gold operates as a single business segment—manufacturing and trading of gold and silver jewellery, with no separate segment reporting presented in its financial statements. The company has no subsidiaries or associates.

Shanti Gold International Limited Milestone

Key milestones include conversion to a public limited company on November 01, 2013; an expanded national footprint to 15 states and 2 union territories by May 31, 2025; and sustained presence in export markets in the Middle East and Southeast Asia.

Shanti Gold International Limited’s Business Segments

Revenue contribution by geography (Fiscal 2025): 

• Domestic: 94.64% (South India 72.76%; Rest of India 21.88%) 
• International (Exports): 5.36% of total revenue.

Within exports (as a share of total revenue, Fiscal 2025): 

• UAE: 2.80%
• Singapore: 1.97% 
• Qatar: 0.14%

Shanti Gold International Limited’s Key Management

• Pankajkumar H Jagawat – Chairman and Managing Director
• Manojkumar N Jain – Whole‑Time Director
• Shashank Bhawarlal Jagawat – Non‑Executive Director
• Shriram Kannan Iyengar – Chief Financial Officer
• Vrushti Parag Shah – Company Secretary and Compliance Officer

Latest Updates on Shanti Gold International Limited

• Corporate Actions: A bonus issue in the ratio of 5 Equity Shares for every 1 Equity Share was approved on November 09, 2024 and allotted on November 18, 2024.
• IPO and Regulatory Progress: The company has filed a Red Herring Prospectus for an initial public offering of up to 18,096,000 Equity Shares; in‑principle listing approvals were received from BSE and NSE on April 16, 2025, and SEBI issued its final observation letter on May 30, 2025.
• Use of Proceeds: Planned utilisation of Net Proceeds includes funding capital expenditure for a proposed manufacturing facility in Jaipur (Rs 46.30 crore), incremental working capital (Rs 200.00 crore) and repayment/pre‑payment of certain borrowings (Rs 17.00 crore).
• Expansion: The company is planning to set up a new manufacturing facility in Jaipur to expand its reach.