Shringar House of Mangalsutra IPO gets fully booked; GMP holds at 18%

Shringar House of Mangalsutra IPO Subscription Status: The initial public offering (IPO) of jewelry manufacturer Shringar House of Mangalsutra has received a favourable response from investors on the first day of its subscription. 

 

The public offering, valued at around ₹400 crore, received bids for 2,07,84,780 shares against 1,70,16,000 shares on offer, translating to an overall subscription of 1.26 times as of 1:54 PM on Wednesday, September 10, according to BSE data.

 

Retail and non-institutional investors (NIIs) have led the response, subscribing to their allocated portions by 1.81 times and 1.45 times, respectively. However, demand from qualified institutional buyers (QIBs) remained muted in early trade, as they had placed bids for only 19,800 shares against their allocated portion of 48,56,000 shares.

 

Shringar House of Mangalsutra IPO Grey Market Premium (GMP)

Favourable sentiment was also seen in the grey market, where the company’s unlisted shares were commanding a solid premium on the first day of subscription. Sources tracking grey market activity revealed that the company’s unlisted shares were trading at around ₹195 per share. This translates to a grey market premium (GMP) of ₹30 per share, or 18.18 per cent over the upper end of the issue price.

Shringar House of Mangalsutra IPO details

The IPO comprises an entirely fresh issue of 24.3 million equity shares worth ₹400.95 crore, without any offer-for-sale (OFS) component. The company has set the price band for the IPO at ₹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).

 

The public issue will remain open for subscription until September 12, 2025. The basis of allotment 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 favourable reviews for its public offering from brokerages. Analysts at Anand Rathi Research, and Master Capital Services have recommended subscribing from a long-term perspective. READ MORE

About Shringar House of Mangalsutra

Incorporated in 2009, Shringar House of Mangalsutra designs, manufactures, and markets a wide range of Mangalsutras in 18k and 22k gold, often studded with American diamonds, cubic zirconia, pearls, mother-of-pearl, and semi-precious stones. With approximately 6 per cent share of India’s organised Mangalsutra market in FY23, the company offers over 15 collections and 10,000+ active SKUs across bridal, traditional, contemporary, Indo-western, and daily-wear segments.