Shanti Gold International IPO garners 80.80 times subscription

New Delhi: The initial public offer of Shanti Gold International Ltd garnered 80.80 times subscription on the closing day of bidding on Tuesday.

The initial share sale received bids for 1,02,35,46,675 shares against 1,26,67,200 shares on offer, according to NSE data.

Non Institutional Investors part got subscribed 151.18 times while the quota for Qualified Institutional Buyers (QIBs) received 117.33 times subscription. The quota for Retail Individual Investors (RIIs) got subscribed 29.77 times.

Shanti Gold International on Thursday said it has mopped up a little over Rs 108 crore from anchor investors.

The Rs 360-crore initial public offering (IPO) of Shanti Gold has a price band of Rs 189-199 per share.

The IPO is entirely a fresh issue of 1.81 crore shares worth Rs 360.11 crore, at the upper end of the price band, with no offer-for-sale (OFS) component.

Proceeds of the issue will be used for setting up a facility in Jaipur, funding the company's incremental working capital requirements, payment of debt and for general corporate purposes.

Shanti Gold specialises in the design and production of various types of gold jewellery.

Choice Capital Advisors is the sole book-running lead manager to the issue.