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Shringar House of Mangalsutra IPO: Shringar House of Mangalsutra, manufacturer and designer of Mangalsutra in India, has set the price band for its maiden public issue in the range of ₹155 to ₹165 per equity share. The company aims to raise ₹400.95 crore through a fresh issue of 24.3 million equity shares. There is no offer for sale (OFS) component.
According to the red herring prospectus (RHP), the company has reserved not more than 50 per cent of the issue for qualified institutional buyers (QIBs), not less than 10 per cent for non-institutional investors (NIIs) and not less than 35 per cent for retail investors.
MUFG Intime India is the registrar for the issue. Choice Capital Advisors is the sole book-running lead manager.
According to the RHP, the Shringar House of Mangalsutra IPO will open for subscription on Wednesday, September 10, 2025, and close on Friday, September 12, 2025. The anchor investor period shall be one day prior to the opening date, i.e. Tuesday, September 9, 2025. The basis of allotment of shares is likely to be finalised on Monday, September 15, 2025. The stock will be listed on the National Stock Exchange (NSE) and BSE, tentatively on Wednesday, September 17, 2025.
The lot size for an application is 90 shares. Accordingly, a retail investor would require a minimum investment amount of ₹14,850 to bid for one lot or 90 shares.
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Shringar House of Mangalsutra plans to utilise ₹280 crore from the net issue proceeds for funding working capital requirements and the remaining funds for general corporate purposes.
About Shringar House of Mangalsutra
Incorporated in January 2009, Shringar House of Mangalsutra is the leading and specialised designer and manufacturer of Mangalsutra in India. Mangalsutra is a traditional necklace, crafted from gold and black beads, worn by married Indian women. The company is engaged in designing, manufacturing, and marketing a varied range of Mangalsutra studded with a diverse range of stones, including but not limited to American diamond, cubic zirconia, pearl, mother of pearl, and semi-precious stones, in 18k and 22k purity of gold, for its business-to-business (B2B) clients.
The company serve a diverse client base, including corporate clients, wholesale jewellers, and retailers across India, with a presence in 24 states and 4 union territories. During FY23 to FY25, the company expanded internationally to the United Kingdom, New Zealand, the UAE, the USA, and Fiji. The company’s domestic and international corporate clients include Malabar Gold, Titan Company, GRT Jewellers, Reliance Retail, Joyalukkas India, and Damas Jewellery (UAE), among others.
Shringar House of Mangalsutra financial snapshot
In the fiscal 2024-25 (FY25), Shringar House of Mangalsutra reported revenue from operations of ₹1,429.8 crore, up 30 per cent from ₹1,101.5 crore in the previous fiscal. The company posted profit after tax (PAT) of ₹61.11 crore, up 96 per cent compared to ₹31.1 crore in the FY24.
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