Shanti Gold IPO subscribed nearly 3 times on day 2 of bidding; retail, NII lead - check latest GMP

Shanti Gold IPO sees robust subscription on July 28.

Shanti Gold International IPO witnessed robust subscription on the second day of share sale on July 28 for it's Rs 360-crore issue in the primary market. The initial share sale by the manufacturer of gold jewellery will conclude on July 29.

At around 12:15 p.m., the issue got subscribed 2.69 times, receiving bids for 3.41 crore shares against 1.26 crore shares on offer, as per NSE data.

Retail Individual Investors (RIIs) part fetched 4.04 times subscription while the category for non-institutional investors got subscribed 3.13 times. The Qualified Institutional Buyers (QIBs) portion received 1 percent subscription. Earlier, it mopped up a little over Rs 108 crore from anchor investors.

Shanti Gold International IPO GMP

According to market investors tracking the grey market activities, the shares of Shanti Gold International are commanding a GMP of over 19 percent in the unregulated market. Investorgain quoted a GMP of Rs 38 for the shares of the company, indicating a listing gain of 19.10 percent.

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.

Shares of the company will be listed on the exchanges on August 1, while the allotment is expected to be finalized by July 30.

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