New Delhi, Jul 25 (PTI) The initial public offer of Shanti Gold International Ltd, a manufacturer of gold jewellery, got subscribed 1.16 times on the first day of bidding on Friday.

The three-day IPO received bids for 1,46,47,725 shares against 1,26,67,200 shares on offer, as per NSE data.

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Retail Individual Investors (RIIs) part fetched 1.84 times subscription while the category for non-institutional investors got subscribed 1.09 times. The Qualified Institutional Buyers (QIBs) portion received 1 per cent subscription.

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

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The Rs 360-crore initial public offering (IPO) of Shanti Gold will conclude on July 29.

The price band for the offer has been fixed at 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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)