Shringar House of Mangalsutra on 10 Sept

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.

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Shringar Mangalsutra IPO latest updates

Grey market premium has remain stable 

 

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?

Incorporated in January 2009, Shringar House of Mangalsutra Limited is engaged in the designing, manufacturing, and marketing of Mangalsutras across India. The company offers a wide range of Mangalsutras embedded with American diamonds, cubic zirconia, pearls, and semi-precious stones, crafted in 18k and 22k gold, catering mainly to business-to-business (B2B) clients.

Its products are sold to a diverse customer base comprising corporate houses, wholesale jewellers, and retailers across 24 states and 4 union territories in India. The company has also made significant international inroads between FY23 and FY25, expanding to the UK, New Zealand, UAE, USA, and Fiji.

Prestigious domestic and overseas corporate clients include Malabar Gold Ltd., Titan Company Ltd., GRT Jewellers, Reliance Retail, Joyalukkas India, and Damas Jewellery (UAE). As of March 31, 2025, the company has served 34 corporate clients, 1,089 wholesalers, and 81 retailers.

The company also undertakes job-work manufacturing for corporate clients. During FY23–FY25, Shringar processed a total of 1,320.72 kgs (FY25), 1,221.19 kgs (FY24), and 870.26 kgs (FY23) of bullion into Mangalsutras, generating revenues of Rs.264.83 million, Rs.193.24 million, and Rs.156.47 million, respectively.

As of June 30, 2025, the company employed 237 people.

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.

 

What does Shringar House of Mangalsutra Limited do?

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.

What are the IPO opening and closing dates of Shringar House of Mangalsutra?

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.

Should retail investors apply?

Yes. The IPO is attractively priced and offers scope for both listing gains and long-term returns.

What is the IPO price band? What is the minimum investment?

Rs. 98 – Rs. 103 per share. One lot = 145 shares = Rs. 14,935 (at upper band).

What is the biggest risk in Shringar Mangalsutra IPO?

Gold price volatility and regional concentration in Maharashtra

Shringar House of Mangalsutra IPO dates

Shringar House of Mangalsutra PO Review