Shringar House of Mangalsutra IPO ends with subscription of 60.29 times

The offer received bids for 102.59 crore shares as against 1.70 crore shares on offer.

The initial public offer of Shringar House of Mangalsutra received bids for 1,02,59,15,670 shares as against 1,70,16,000 shares on offer. The issue was subscribed 60.29 times.

The Qualified Institutional Buyers (QIBs) category was subscribed 101.41 times. The Retail Individual Investors (RIIs) category was subscribed 82.58 times. The Non-Institutional Investors (NIIs) category was subscribed 27.22 times.

The issue opened for bidding on 10 September 2025 and it closed on 12 September 2025. The price band of the IPO is fixed between Rs 155 and 165 per share.

The IPO comprised a complete fresh issue of equity shares, aggregating up to Rs 400.95 crore. The objectives for the fresh issue include Rs 280 crore for funding working capital requirements and the remaining amount for general corporate purposes.

The promoters and promoter group hold an aggregate of 7,21,31,280 equity shares, aggregating to 99.99% of the pre-offer issued and paid-up equity share capital.

Shringar House of Mangalsutra designs, manufactures, and markets gold Mangalsutras (18k & 22k) with stones like American diamond, CZ, pearls, and semi-precious gems. With 15+ collections and 10,000+ SKUs, it holds ~6% share of Indias organized Mangalsutra market (CY23). The company serves 1,200+ B2B clients across 24 states and 4 UTs, including Malabar Gold, Titan, Reliance Retail, and Joyalukkas, and has expanded exports to the UK, UAE, USA, New Zealand, and Fiji. It operates a Maharashtra-based plant (2,500 kg annual capacity) supported by 22 designers and 166 karigars.

Ahead of the IPO, Shringar House of Mangalsutra, on 9 September 2025, raised Rs 853.87 crore from anchor investors. The board allotted 8.29 crore shares at Rs 103 each to 59 anchor investors.

The firm reported a consolidated net profit of Rs 1.74 crore and total income of Rs 158.88 crore for the twelve months ended on 31 March 2025.

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