Shringar House of Mangalsutra IPO Price: ₹155 to ₹165 per share
IPO Dates: 10th September 2025 – 12th September 2025
Company Overview
Incorporated in 2009 as Shringar House of Mangalsutra Pvt. Ltd and later converted into a public limited company in November 2024, Shringar House of Mangalsutra Limited is one of India’s leading and specialized designers and manufacturers of Mangalsutras. The company has established itself as a focused player in the organized Mangalsutra market, contributing around 6% market share in CY2023.
Products and Offerings
The company designs, manufactures, and markets a diverse portfolio of Mangalsutras crafted in 18k and 22k gold, often studded with stones such as American diamond, cubic zirconia, pearl, mother of pearl, and semi-precious stones. Its extensive catalogue features over 15 collections and more than 10,000 active SKUs, catering to a wide spectrum of customer preferences. These include daily-wear, antique, bridal, traditional, contemporary, Indo-western styles, and special editions for weddings, festivals, and anniversaries.
In addition, the company has launched its premium brand “Ziya”, aimed at catering to the aesthetic preferences of high-end customers. The company also undertakes job-work manufacturing for corporate clients, supplying finished Mangalsutras under their brands.
Client Base and Distribution
Shringar House of Mangalsutra sells its products to a diverse customer network comprising corporate clients, wholesalers, and retailers across 24 states and 4 union territories in India. As of March 31, 2025, the company catered to 34 corporate clients, 1,089 wholesalers, and 81 retailers.
The company has also expanded internationally, with a presence in the United Kingdom, New Zealand, the UAE, the USA, and the Republic of Fiji. Its marquee clients include Malabar Gold, Titan Company, GRT Jewellers, Reliance Retail, Novel Jewels (Aditya Birla Group), Joyalukkas India, P N Gadgil Jewellers, Kalamandir Jewellers, Waman Hari Pethe Jewellers, Goldbox Enterprises (UK), Sona Sansaar (New Zealand), and Damas Jewellery LLC (UAE), among others.
Manufacturing Capabilities
The company operates a manufacturing facility at Lower Parel, Mumbai, spread over 8,300 sq. ft., equipped with modern infrastructure and secure storage for gold, work-in-progress, and finished Mangalsutras. This integrated facility enables design innovation, production efficiency, and strict quality control, ensuring consistent product standards.
Digital Sales Channels
To strengthen its market presence and accessibility, the company has adopted digital solutions. In FY 2023, it launched an e-catalogue of stock designs through its website (www.shringarms.com), managed by third-party providers. The platform enables retail clients to browse and order from its extensive collection. For corporate clients, the company offers a live video calling feature, allowing real-time viewing of finished goods inventory and streamlined product selection.
Competitive Strengths
- Established and diverse client base with long-standing relationships
- Strong design innovation and a vast product portfolio with 10,000+ SKUs
- Integrated manufacturing facility ensuring product quality and consistency
- Focused positioning as a Mangalsutra specialist with premium brand Ziya
- Expanding domestic and international presence
- Robust financial growth and improving profitability
- Experienced promoters supported by a professional management team
Bidding Starts In
Shringar House of Mangalsutra IPO Specifics:
| IPO Date | September 10, 2025 to September 12, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹155 to ₹165 per share |
| Lot Size | 90 Shares |
| Total Issue Size | 2,43,00,000 shares (aggregating up to ₹400.95 Cr) |
| Fresh Issue | 2,43,00,000 shares (aggregating up to ₹400.95 Cr) |
| Employee Discount | ₹15 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 7,21,32,080 shares |
| Share Holding Post Issue | 9,64,32,080 shares |
Shringar House of Mangalsutra IPO Timetable (Important Dates)
| IPO Open Date | Wednesday, September 10 2025 |
| IPO Close Date | Friday, September 12 2025 |
| Basis of Allotment | Monday, September 15 2025 |
| Initiation of Refunds | Tuesday, September 16 2025 |
| Credit of Shares to Demat | Tuesday, September 16 2025 |
| Listing Date | Wednesday, September 17 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 12, 2025 |
Shringar House of Mangalsutra IPO Lot Size
Bidders have the opportunity to bid for a minimum of 119 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 90 | ₹14,850 |
| Retail (Max) | 13 | 1170 | ₹1,93,050 |
| S-HNI (Min) | 14 | 1260 | ₹2,07,900 |
| S-HNI (Max) | 67 | 6030 | ₹9,94,950 |
| B-HNI (Min) | 68 | 6120 | ₹10,09,800 |
Shringar House of Mangalsutra IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Shringar House of Mangalsutra Limited IPO Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|---|
| Assets | 211.55 | 265 | 375.75 |
| Revenue | 951.29 | 1102.71 | 1430.12 |
| Profit After Tax | 23.36 | 31.11 | 61.11 |
| EBITDA | 38.89 | 50.76 | 92.61 |
| Net Worth | 105.72 | 136.85 | 200.85 |
| Reserves & Surplus | 94.62 | 125.72 | 123.72 |
| Total Borrowing | 93.19 | 110.09 | 123.11 |
Key Performance Indicator – Shringar House of Mangalsutra IPO
| KPI | Values |
|---|---|
| Market Cap | ₹1591.13 Cr |
| EPS | ₹8.47 |
| P/E (x) | 19.47 |
| ROCE | 32.43% |
| PAT Margin | 4.27% |
| RoNW | 36.20% |
| Debt/Equity | 0.61 |
Objects of the Issue:
Shringar House of Mangalsutra Limited proposes to utilize the net proceeds from its Initial Public Offering (IPO) for the following purposes:
Funding Working Capital Requirements:
An amount of ₹280.00 crore will be allocated to meet the company’s working capital needs, ensuring smooth day-to-day operations, inventory management, and business expansion.
General Corporate Purposes:
The remaining funds will be utilized for general corporate activities, including administrative expenses, brand development, and other strategic initiatives to support future growth.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
