Shanti Gold IPO Shines Bright with 80.8x Subscription
Shanti Gold International Ltd's IPO was oversubscribed by 80.80 times on its closing day. The company raised over Rs 108 crore from anchor investors. The Rs 360-crore IPO, priced between Rs 189-199 per share, aims to fund facility setup in Jaipur and address working capital needs.
- Country:
- India
On Tuesday, Shanti Gold International Ltd's initial public offering (IPO) witnessed a robust reception, being oversubscribed by an astounding 80.80 times. According to data from the National Stock Exchange (NSE), the IPO attracted bids for over 1.02 billion shares compared to the 12.67 million shares on offer. This remarkable demand highlights market confidence in Shanti Gold's growth prospects.
A significant contribution came from Non-Institutional Investors, where subscriptions soared to 151.18 times, while Qualified Institutional Buyers (QIBs) showed a similarly strong interest at 117.33 times. Retail Individual Investors (RIIs) were not left behind, subscribing to their quota 29.77 times.
On Monday, Shanti Gold announced that it had secured over Rs 108 crore from anchor investors, a substantial portion of its Rs 360-crore IPO, priced in a band of Rs 189-199 per share. The funds raised will be allocated towards establishing a new facility in Jaipur, addressing incremental working capital requirements, and for other corporate necessities. Choice Capital Advisors served as the sole book-running lead manager for the IPO.
(With inputs from agencies.)
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