Shringar House of Mangalsutra IPO opens on Sept 10; check key details here

Mumbai-based Shringar House of Mangalsutra is poised to launch its initial public offering (IPO) on Dalal Street with an opening date set for September 10. The IPO, comprising a fresh issue of 2.43 crore shares, falls within a price band of Rs 155 to Rs 165 per equity share, each with a face value of Rs 10. The lot size for retail investors is determined at 90 equity shares, with multiples thereof thereafter. The offering includes a reservation of up to 20,000 equity shares specifically for the company's employees.

The IPO will open its anchor book, primarily for institutional investors, on September 9, and the subscription will end on September 12 for all investors. The allotment of shares is scheduled for finalisation by September 15, with trading in equity shares expected to commence on September 17. Choice Capital Advisors is serving as the sole merchant banker for the IPO, which is set to list on both BSE and NSE.

The primary objective of this IPO is to raise funds for working capital requirements, with Rs 280 crore earmarked for this purpose, while the remaining proceeds will cater to general corporate expenses. This strategic financial move is expected to support the company's operational growth and strengthen its market position.

Incorporated in 2009, Shringar House of Mangalsutra designs and manufactures mangalsutras with gold purities of 18k and 22k for several prominent business-to-business clients. These include notable names such as Titan Company, Malabar Gold, Reliance Retail, Novel Jewels (Aditya Birla Group), and Joyalukkas India, among others. As of March 2025, the company has established a substantial network, serving 34 corporate clients, 1,089 wholesalers, and 81 retailers.

Financially, the company has demonstrated robust growth. For the year ended March 2025, Shringar House of Mangalsutra recorded a profit of Rs 61.1 crore, marking a 96.5% increase from the previous fiscal's Rs 31.1 crore. The company's revenue also witnessed a significant rise, climbing 29.8% to Rs 1,429.8 crore from Rs 1,101.5 crore in the prior year. This performance highlights the company's strong financial footing and growth trajectory.

In the competitive landscape, Shringar House of Mangalsutra faces competition from listed entities such as Utssav CZ Gold Jewels, RBZ Jewellers, and Sky Gold & Diamonds. Despite the competitive pressures, the company’s financial performance and strategic positioning have allowed it to capture significant market share within the industry.