Shringar House of Mangalsutra IPO Details
Shringar House of Mangalsutra IPO is a Book Built Issue of 2.43 crore fresh equity shares. The IPO opens for subscription on 10 September 2025 and will close on 12 September 2025. Basis of allotment is likely on 15 September 2025, and listing is scheduled on BSE and NSE on 17 September 2025. The price band has been fixed at Rs 155 – Rs.165 per share. Lot size is 90 shares. Choice Capital Advisors Pvt. Ltd. is the Book Running Lead Manager, while MUFG Intime India Pvt. Ltd. acts as Registrar.
🕗 Last Update: 17 September 2025, 6.00 AM
Table of Contents
Final Subscription Tally
| QIB | B HNI X | S HNI X | NII X | RII X | Total X |
| 101.41 | 83.95 | 79.83 | 82.58 | 27.26 | 60.31 |
| Applications: 23,85,416 | |||||
| Subscription Review: Strong subscription trend from NIIs | |||||
X IPO Key Dates
| Anchor portion | |
| IPO opens on | 10 Sept 2025 |
| IPO Closes on | 12 Sept 2025 |
| IPO Allotment on | 15 Sept 2025 |
| Unblocking of Asba | 16 Sept 2025 |
| Credit of Shares | 16 Sept 2025 |
| Listing of Shares | 17 Sept 2025 |
Who are the promoters of Shringar Mangalsutra IPO?
The company’s Promoters are Chetan N Thadeshwar, Mamta C Thadeshwar, Viraj C Thadeshwar and Balraj C Thadeshwar.
The promoters hold 99.99% shares in the post IPO capital of the company.
What are the Objects of Shringar Mangalsutra IPO?
The Offer comprises a Fresh Issue by the Company and an Offer for Sale by the Selling Shareholders.
The net proceeds of the Offer are proposed to be utilised in the following manner:
Repayment/prepayment, in full or part, of certain borrowings availed of by the Company. Rs. 59 Crore
Funding of working capital requirements of the Company. Rs. 115 Crore
General Corporate Purposes
What is the business of Shringar House of Mangalsutra?
Shringar Mangalsutra IPO Details
| IPO opens on | 10 Sept, 2025 |
| IPO closes on | 12 Sept, 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 243,00,000 Shares / Rs 400.95 Crore |
| * Fresh Issue | Rs 400.95 Crore |
| * Offer for Sale | Rs ? Crore |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 155-165 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 15 per share |
| Retail Lot Size | 90 Shares |
| Listing will at | BSE, NSE |
How are the shares offered in Shringar Mangalsutra IPO?
| Investor Category | Shares Offered |
| QIB | Not more than 50% of the Net Offer |
| Retail | Not less than 35% of the Net Offer |
| NII | Not less than 15% of the Net Offer |
How can the shares be applied in Shringar Mangalsutra IPO?
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 90 | ₹14,850 |
| Retail (Max) | 13 | 1,170 | ₹1,93,050 |
| S-HNI (Min) | 14 | 1,260 | ₹2,07,900 |
| S-HNI (Max) | 67 | 6,030 | ₹9,94,950 |
| B-HNI (Min) | 68 | 6,120 | ₹10,09,800 |
Shringar Mangalsutra IPO allotment Status
Allotment of this IPO will be announced on 15 September 2025 and allotment link is given below
https://linkintime.co.in/Initial_Offer/public-issues.html
| Registered Office of the company Shringar House of Mangalsutra Ltd. Unit No. B-1, Lower Ground Floor Jewel World (Cotton Exch Bldg), 175, Kalbadevi Rd, Bhuleshwar, Mumbai, Maharashtra, 400002 Email: cs@shringar.ms |
|
| Who are the Lead Managers of All Time Plastics IPO? Choice Capital Advisors Pvt ltd |
|
| Registrar to IPO | |
| MUFG Intime India Pvt.Ltd. https://linkintime.co.in/Initial_Offer/public-issues.html |
Shringar Mangalsutra IPO Financial Snapshot
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 375.75 | 265 | 211.55 |
| Total Income | 1,430.12 | 1,102.71 | 951.29 |
| Profit After Tax | 61.11 | 31.11 | 23.36 |
| EBITDA | 92.61 | 50.76 | 38.89 |
| Net Worth | 200.85 | 136.85 | 105.72 |
| Reserves and Surplus | 123.72 | 125.72 | 94.62 |
| Total Borrowing | 123.11 | 110.09 | 93.19 |
| Amount in Rs. Crore | |||
Key Performance Indicators
| KPI | Values |
| ROCE | 32.43% |
| Debt/Equity | 0.61 |
| RoNW | 36.20% |
| PAT Margin | 4.27% |
| EBITDA Margin | 6.48% |
| EPS | 8.47% |
| PER | 19.47 |
How Shringar Mangalsutra IPO compares with the Peers?
Peer Comparison.
| Company Name | P/E (x) | RoNW (%) |
| Shringar House of Mangalsutra | 19.47 | 36.2 |
| Utssav CZ Gold Jewels | 16.85 | 30.94 |
| RBZ Jewellers | 13.37 | 17.15 |
| Sky Gold & Diamonds | 28.73 | 28.59 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Shringar Mangalsutra IPO Condensed Review by Paresh Gordhandas, CA & Research Analyst
Shringar Mangal Sutra is engaged in the jewellery business, primarily focused on gold and diamond ornaments, with strong brand recall in Maharashtra. The company has delivered steady growth in revenues (Rs. 951.29 cr. in FY23 → Rs. 1,430.12 cr. in FY25) and profits (Rs. 23.36 cr. → Rs. 61.11 cr.) in the last three years. EBITDA margins have improved to 6.47% in FY25 from 4.08% in FY23. Debt remains moderate at Rs. 123.11 cr. against net worth of Rs. 200.85 cr. At the expected price band (assume Rs. 200–210), the P/E would be reasonable (~15–16x FY25 earnings), making it an attractive long-term bet for investors.
Shringar House of Mangalsutra Limited, incorporated in 2009, is engaged in designing, manufacturing, and marketing Mangalsutras made with American diamonds, cubic zirconia, pearls, and semi-precious stones using 18k & 22k gold. The company caters to corporate clients, wholesale jewellers, and retailers across 24 states & 4 union territories in India, and has also expanded internationally to the UK, UAE, USA, Fiji, and New Zealand. Its clients include Titan, Malabar Gold, Reliance Retail, Joyalukkas, and Damas Jewellery.
The IPO opens for subscription on 10 September 2025 and closes on 12 September 2025. The basis of allotment is expected on 15 September 2025, while listing is likely on 17 September 2025 at BSE and NSE.
How has the company performed financially in recent years?
The company has shown consistent growth. Total income increased from ₹951.29 crore in FY23 to ₹1,430.12 crore in FY25, while Profit After Tax rose from ₹23.36 crore in FY23 to ₹61.11 crore in FY25. EBITDA also strengthened from ₹38.89 crore (FY23) to ₹92.61 crore (FY25), reflecting strong operational performance.
Yes. The IPO is attractively priced and offers scope for both listing gains and long-term returns.
Rs. 98 – Rs. 103 per share. One lot = 145 shares = Rs. 14,935 (at upper band).
Gold price volatility and regional concentration in Maharashtra
