Shanti Gold Shines with Stellar IPO Performance

Shanti Gold International Ltd's shares closed over 15% above the issue price post-IPO. Trading began at Rs 229.10, peaking at Rs 238.40 on BSE. On NSE, shares opened at Rs 227.55. The IPO, which was priced between Rs 189-199, was heavily subscribed and raised Rs 360 crore.

Shares of Shanti Gold International Ltd concluded trading with a notable premium of more than 15% above the initial pricing set at Rs 199. This demonstrates robust market confidence and investor interest in the company.

On its debut on the Bombay Stock Exchange, Shanti Gold's stock opened at Rs 229.10, representing a 15.12% increase from its entry price. At its peak during the day, the stock traded at Rs 238.40. By the closing bell, it settled at Rs 229.20, marking a 15.17% rise.

Switching to the National Stock Exchange, the stock surged 14.34% in early trades, eventually closing 15.26% higher at Rs 229.38 each. The IPO, lacking any offer-for-sale component, was entirely new equity and witnessed a subscription rate of 80.80 times. The proceeds will bolster a new facility in Jaipur, working capital, debt payments, and other corporate activities.

(With inputs from agencies.)