Shringar House of Mangalsutra IPO subscribed over 60 times on Day 3; latest GMP & other details
The qualified institutional buyer (QIB) portion was subscribed 101.41 times, the non-institutional investors (NIIs) portion 82.58 times and the retail portion 27.22 times. The employee portion was booked 69.90 times.
- Sep 12, 2025,
- Updated Sep 12, 2025 6:37 PM IST
The initial public offering (IPO) of Shringar House of Mangalsutra Ltd was subscribed 60.29 times on the final day of bidding. According to BSE data available on Friday (Day 3), the issue received bids for 1,02,59,15,670 shares against 1,70,16,000 equity shares on offer, within a price band of Rs 155–165.
The qualified institutional buyer (QIB) portion was subscribed 101.41 times, the non-institutional investors (NIIs) portion 82.58 times and the retail portion 27.22 times. The employee portion was booked 69.90 times.
The IPO opened for subscription on Wednesday (September 10, 2025) and concluded today. Choice Capital Advisors Pvt Ltd is acting as the sole book-running lead manager, while MUFG Intime India Pvt Ltd is the registrar of the issue.
Brokerage firms, including Anand Rathi, SBI Securities, BP Wealth, Canmoney, SMIFS, GEPL Capital, Marwadi Financial Service, Master Trust Broking & Investments and Adroit Financial Services, have given the IPO a 'Subscribe' rating. Their reports cite the company's financial performance, business scalability, product portfolio of over 10,000 SKUs, and expansion into 42 Indian cities and overseas markets as key factors.
In the unlisted market, Shringar House of Mangalsutra IPO was last seen commanding a grey market premium (GMP) of Rs 31. Based on the upper price band of Rs 165, the estimated listing price implied a premium of 18.79 per cent.
Shringar House of Mangalsutra, incorporated in 2009, designs, manufactures and markets a range of Mangalsutras crafted in 18k and 22k gold, featuring stones such as American diamonds, cubic zirconia, pearls, mother of pearl and semi-precious stones. The company primarily caters to business-to-business (B2B) clients and, as per a CareEdge Report, held about 6 per cent share of India's organised Mangalsutra market in CY23.
The initial public offering (IPO) of Shringar House of Mangalsutra Ltd was subscribed 60.29 times on the final day of bidding. According to BSE data available on Friday (Day 3), the issue received bids for 1,02,59,15,670 shares against 1,70,16,000 equity shares on offer, within a price band of Rs 155–165.
The qualified institutional buyer (QIB) portion was subscribed 101.41 times, the non-institutional investors (NIIs) portion 82.58 times and the retail portion 27.22 times. The employee portion was booked 69.90 times.
The IPO opened for subscription on Wednesday (September 10, 2025) and concluded today. Choice Capital Advisors Pvt Ltd is acting as the sole book-running lead manager, while MUFG Intime India Pvt Ltd is the registrar of the issue.
Brokerage firms, including Anand Rathi, SBI Securities, BP Wealth, Canmoney, SMIFS, GEPL Capital, Marwadi Financial Service, Master Trust Broking & Investments and Adroit Financial Services, have given the IPO a 'Subscribe' rating. Their reports cite the company's financial performance, business scalability, product portfolio of over 10,000 SKUs, and expansion into 42 Indian cities and overseas markets as key factors.
In the unlisted market, Shringar House of Mangalsutra IPO was last seen commanding a grey market premium (GMP) of Rs 31. Based on the upper price band of Rs 165, the estimated listing price implied a premium of 18.79 per cent.
Shringar House of Mangalsutra, incorporated in 2009, designs, manufactures and markets a range of Mangalsutras crafted in 18k and 22k gold, featuring stones such as American diamonds, cubic zirconia, pearls, mother of pearl and semi-precious stones. The company primarily caters to business-to-business (B2B) clients and, as per a CareEdge Report, held about 6 per cent share of India's organised Mangalsutra market in CY23.