Shringar House of Mangalsutra IPO Day 3; Subscription nears 30x, GMP up 21%

Shringar House of Mangalsutra IPO Subscription Status: Jewellary manufacturer Shringar House of Mangalsutra has received a favorable response for its initial public offering (IPO) from investors so far. Notably, the public issue is set to close for subscription today, September 12.

 

The Shringar House of Mangalsutra IPO, which opened for subscription on September 10, has received bids for 39,07,53,065 shares against 1,31,47,075 shares on offer, translating to an overall subscription of 29.72 times as of 12:09 PM on Friday, September 12, according to BSE data.

 

Retail and non-institutional investors (NIIs) have led the response, subscribing to their allocated portions by 99.62 times and 39.03 times, respectively. The qualified institutional buyers (QIBs), on the other hand, have placed the lowest bids among others, yet have oversubscribed their reserved category by 2.45 times.

Shringar House of Mangalsutra IPO grey market premium (GMP)

Meanwhile, the company’s unlisted shares were commanding a solid premium on the final day of subscription. Sources tracking grey market activity revealed that the company’s unlisted shares were trading at around ₹199 per share. This translates to a grey market premium (GMP) of ₹34 per share, or 20.61 per cent over the upper end of the issue price.

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Shringar House of Mangalsutra IPO details

The public offering consists of an entirely fresh issue of 24.3 million equity shares worth ₹400.95 crore. Shringar House of Mangalsutra IPO does not have any offer-for-sale (OFS) component. The issue is available at a price band of ₹155–₹165 per share, with a lot size of 90 shares. Investors can bid for a minimum of 90 shares and in multiples thereof.

 

A retail investor would need a minimum of ₹14,850 to bid for one lot (90 shares) of the Shringar House of Mangalsutra IPO, while an investment of ₹1,93,050 would be required to bid for the maximum limit of 13 lots (1,170 shares).

 

As the public issue closes for subscription today, the basis of allotment for Shringar House of Mangalsutra IPO shares is likely to be finalised on Monday, September 15, 2025, and shares will be credited to investors' demat accounts on September 16, 2025.

 

Shringar House of Mangalsutra shares are slated to list on the BSE and NSE tentatively on Wednesday, September 17, 2025.

Shringar House of Mangalsutra IPO review

The company has garnered favorable reviews for its public offering from brokerages. Analysts at Anand Rathi Research, and Master Capital Services have recommended subscribing to the Shringar House of Mangalsutra IPO from a long-term perspective. READ MORE

About Shringar House of Mangalsutra

Shringar House of Mangalsutra specialises in the design and manufacture of Mangalsutras in India. It designs, manufactures, and markets a wide range of Mangalsutras in 18k and 22k purity gold, studded with American diamonds, cubic zirconia, pearls, mother of pearl, and semi-precious stones. In CY23, it contributed approximately 6 per cent of the organised Mangalsutra market in India.