Sunil Gold India files draft papers with Sebi to float IPO

New Delhi, Mar 7 (PTI) Sunil Gold India Ltd has filed preliminary papers with markets regulator Sebi to garner funds through an initial public offering (IPO). The proposed IPO is a combination of a fresh issue of 2 crore equity shares and an offer for sale (OFS) of up to 65 lakh shares by promoters Anil Jain and Shrenik Jain, according to the draft red herring prospectus (DRHP) filed on Friday. The company plans to utilise the fresh issue proceeds to the tune of Rs 200 crore to support working capital requirements and a portion would be used for general corporate purposes. Founded in 2012 in Mumbai, the company began operations as a business-to-business (B2B) supplier of gold jewellery. It has since expanded its presence in Bengaluru through a partnership with Ratnaakar Gold. Sunil Gold India designs and supplies handcrafted gold jewellery, specializing in contemporary, heritage and temple-inspired designs, along with other traditional styles. It primarily serves the domestic market and supplies jewellery to customers across eight states and one union territory in India. It also exports to the United Arab Emirates and Singapore, with a significant share of revenue coming from repeat orders from existing clients. In FY25, the company processed around 504.58 kg of gold. Its revenue stood at Rs 521 crore. The company plans to list its shares on BSE and NSE. Unistone Capital is the sole book-running lead manager to the issue. PTI SP ANU ANU