Sunil Gold India Ltd has initiated the process for its initial public offering (IPO) by filing draft documents with the Securities and Exchange Board of India (SEBI). The company aims to raise capital from the public market as part of its growth and expansion strategy.
As per the draft red herring prospectus (DRHP) filed on Friday, the proposed IPO will comprise a fresh issue of 2 crore equity shares. In addition, promoters Anil Jain and Shrenik Jain plan to offload up to 65 lakh equity shares through an Offer for Sale (OFS).
The company intends to list its shares on both the BSE and the NSE. Unistone Capital has been appointed as the sole book-running lead manager for the public issue.
Utilisation of IPO Proceeds
According to the DRHP, Sunil Gold India plans to allocate ₹200 crore from the fresh issue proceeds towards meeting its working capital requirements. The remaining funds will be used for general corporate purposes, which may include business expansion and operational needs.
Company Overview
Established in 2012 in Mumbai, Sunil Gold India began operations as a business-to-business (B2B) supplier of gold jewellery. Over time, the company broadened its footprint in the jewellery sector and strengthened its presence in Bengaluru through a strategic partnership with Ratnaakar Gold.
The company focuses on designing and supplying handcrafted gold jewellery, offering a diverse range that includes contemporary designs, heritage collections, temple-inspired jewellery, and other traditional styles.
Market Presence and Operations
Sunil Gold India mainly serves the domestic jewellery market, supplying products to customers across eight states and one union territory in India. In addition to its domestic presence, the company exports jewellery to the United Arab Emirates and Singapore.
A significant portion of its revenue is generated from repeat business from long-term clients, highlighting strong customer relationships within the jewellery trade.
During FY25, the company processed around 504.58 kilograms of gold and recorded revenue of ₹521 crore, indicating steady growth in its operations and market reach.
Summary:
Sunil Gold India Ltd has filed draft papers with SEBI for an IPO comprising a fresh issue of 2 crore equity shares and an OFS of up to 65 lakh shares by promoters. The company plans to use ₹200 crore from the fresh issue for working capital, with the remaining funds allocated for general corporate purposes. Founded in 2012, the Mumbai-based gold jewellery manufacturer supplies handcrafted jewellery across India and exports to UAE and Singapore. In FY25, the company processed over 504 kg of gold and reported ₹521 crore in revenue.
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