EPFO Hits Milestone: Highest-Ever Claim Settlements Cross 5 Crore in FY2024-25

The Employees’ Provident Fund Organisation (EPFO) has achieved a historic milestone by settling over 5.08 crore claims in the financial year 2024-25, surpassing the 4.45 crore claims settled in the previous year. The total claim amount processed stands at ₹2,05,932.49 crore, marking a substantial increase from ₹1,82,838.28 crore in FY 2023-24.

Union Minister of Labour & Employment and Youth Affairs & Sports, Dr Mansukh Mandaviya, made the announcement, attributing this significant progress to a series of transformative reforms aimed at improving claim settlement efficiency and reducing member grievances.

Key Reforms Driving Faster Settlements

EPFO has introduced several policy changes to enhance operational efficiency and streamline processes for its members. These include:

  • Expansion of auto-settlement categories
  • Simplified member profile corrections
  • Enhanced PF transfer processes
  • Improved KYC compliance ratios

One of the most notable advancements has been the auto-claim settlement mechanism, ensuring claims are processed within three days of submission. This has resulted in auto claim settlements doubling to 1.87 crore claims in FY 2024-25, compared to 89.52 lakh claims in FY 2023-24.

Simplified PF Transfers: Only 8% Now Require Attestation

The PF transfer claim submission process has undergone major simplifications, significantly reducing the need for manual interventions.

  • Only 8% of transfer claims now require member and employer attestation
  • 48% of claims are directly submitted by members
  • 44% of transfer requests are auto-generated by EPFO

This shift has reduced delays and procedural hurdles, ensuring a more seamless experience for employees managing their provident fund accounts.

Member Profile Corrections: 97.18% Self-Approved

EPFO has also introduced a simplified member profile correction process, minimising dependence on employer and office approvals.

  • 97.18% of profile corrections are now self-approved by members
  • Only 1% require employer approval
  • Office intervention has dropped to just 0.4%
  • Rejection rates have declined to 1.11% by employers and 0.21% by regional offices

These changes have significantly reduced processing time and improved the accuracy of member records, contributing to a more efficient system.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

Trade Facilitation in Focus: GST Amendments Proposed in Budget 2025-26

The Union Budget 2025-26, presented by the Union Minister for Finance and Corporate Affairs, Smt Nirmala Sitharaman, outlines several key amendments to the Goods and Services Tax (GST) laws. These changes aim to streamline trade processes, enhance compliance, and introduce new provisions related to taxation and penalties. Here is an overview of the major proposals.

1. Distribution of Input Tax Credit (ITC) for Reverse Charge Transactions

One of the notable amendments pertains to the Input Service Distributor (ISD). From April 1, 2025, input tax credit distribution will be allowed for inter-state supplies where tax is paid on a reverse charge basis. This measure is expected to provide greater clarity and facilitate better credit utilisation for businesses.

2. Unique Identification Marking for Track and Trace Mechanism

A new clause has been introduced to define Unique Identification Marking as part of the Track and Trace Mechanism. This will likely help in improving transparency and monitoring within the GST framework, ensuring better compliance across industries.

3. Reversal of Input Tax Credit for Credit Notes

To prevent unwarranted claims, the amendment mandates that businesses must reverse corresponding input tax credit (ITC) if they avail a credit note to reduce the supplier’s tax liability. This move ensures that tax benefits align accurately with actual transactions.

4. Mandatory Pre-Deposit for Penalty Appeals

For cases where only penalty amounts are in dispute (without any tax demand), taxpayers will be required to make a mandatory pre-deposit of 10% of the penalty amount before filing an appeal with the Appellate Authority. This aims to reduce frivolous litigation and expedite the resolution process.

5. Penalties for Track and Trace Non-Compliance

The budget also proposes penalties for businesses that violate provisions related to the Track and Trace Mechanism. This ensures stricter enforcement and discourages malpractices in supply chain tracking.

6. Taxation of SEZ and FTWZ Transactions

A crucial clarification has been made regarding transactions involving Special Economic Zones (SEZs) and Free Trade Warehousing Zones (FTWZs). The supply of goods warehoused in these zones to any person before clearance for export or to the Domestic Tariff Area (DTA) will not be considered as a supply of goods or services. Additionally, no tax refund will be granted for such transactions, with retrospective effect from July 1, 2017.

7. Defining ‘Local Fund’ and ‘Municipal Fund’

To bring more clarity, the definitions of ‘Local Fund’ and ‘Municipal Fund’ have been formally included in the definition of ‘local authority’. This change will likely impact tax exemptions and liabilities of various local bodies.

8. Conditions and Restrictions for Filing GST Returns

The Budget also proposes introducing certain conditions and restrictions for filing GST returns. While the specifics are yet to be notified, these changes will be implemented based on recommendations of the GST Council, in coordination with the States.

Implementation Timeline

Most of these amendments will come into effect on a date to be notified, ensuring adequate preparation time for businesses. The changes are designed to improve trade facilitation, compliance, and enforcement within the GST framework.

As these proposals move towards implementation, businesses should stay updated on notifications and guidelines issued by the GST Council to ensure smooth compliance with the new regulations.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

Union Budget 2025: ₹14,925.81 Crore Boost for Tribal Development to Drive Viksit Bharat

India, home to over 10.45 crore Scheduled Tribe (ST) individuals—comprising 8.6% of the total population—boasts a rich and diverse tribal heritage. Despite their significant presence, many tribal communities remain in remote and inaccessible regions, facing socio-economic challenges. Recognising this, the government has consistently prioritised their development. Under the leadership of Prime Minister Shri Narendra Modi, the Union Budget 2025-26 reaffirms this commitment with an unprecedented increase in budgetary allocation for the Ministry of Tribal Affairs, aimed at ensuring holistic and sustainable development for tribal communities across the country.

Unprecedented Budgetary Support for Tribal Welfare

The government has demonstrated its dedication to tribal welfare through a substantial increase in financial support.

  • The total budget allocation for the development of Scheduled Tribes has risen from ₹10,237.33 crore in 2024-25 to ₹14,925.81 crore in 2025-26, marking a 45.79% surge.
  • The Pradhan Mantri Adi Adarsh Gram Yojana (PMAAGY) has been expanded and integrated into the Dharti Aaba Janjatiya Gram Utkarsh Abhiyan (DAJGUA) with an outlay of ₹80,000 crore over five years.
  • The Ministry of Tribal Affairs has seen consistent budget growth, from ₹7,511.64 crore in 2023-24 to ₹10,237.33 crore in 2024-25, now reaching ₹14,925.81 crore in 2025-26.
  • Compared to ₹4,497.96 crore in 2014-15, the current allocation marks a 231.83% increase, showcasing the government’s sustained focus on tribal development.

Key Allocations and Flagship Initiatives

1. Expansion of Eklavya Model Residential Schools (EMRS)

The budget for EMRS has nearly doubled from ₹4,748 crore to ₹7,088.60 crore, ensuring quality education for tribal students in remote areas.

2. Strengthening the Pradhan Mantri Jan Jatiya Vikas Mission

A 149% budget hike from ₹152.32 crore to ₹380.40 crore aims to provide year-round income-generating opportunities for tribal communities.

3. Enhanced Investment in Pradhan Mantri Adi Adarsh Gram Yojana (PMAAGY)

The scheme has witnessed a 163% increase in funding to ₹335.97 crore, focusing on bridging infrastructural gaps in education, healthcare, and employment.

4. Support for Particularly Vulnerable Tribal Groups (PVTGs)

Under the Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN), funding for Multi-Purpose Centres (MPCs) has doubled from ₹150 crore to ₹300 crore, providing essential socio-economic support in PVTG-dominated areas.

Dharti Aaba Janjatiya Gram Utkarsh Abhiyan: A Game-Changer

Building on the success of PM-JANMAN, the Dharti Aaba Janjatiya Gram Utkarsh Abhiyan (DAJGUA) aims to address infrastructure deficits in 63,843 villages with a budget of ₹79,156 crore over five years:

  • Central Share: ₹56,333 crore
  • State Share: ₹22,823 crore
  • 17 ministries collaborating through 25 targeted interventions to uplift tribal communities.

The allocation for DAJGUA under the Ministry of Tribal Affairs has quadrupled from ₹500 crore to ₹2,000 crore, reflecting the government’s commitment to grassroots tribal empowerment.

Towards a Viksit Bharat with Inclusive Growth

The Union Budget 2025 marks a paradigm shift in tribal development, with a strong emphasis on education, healthcare, skill development, and economic empowerment. By integrating multi-ministerial interventions, the government is fostering inclusive growth, ensuring that tribal communities are not merely beneficiaries but active contributors to the nation’s progress.

Through strategic investments and progressive policies, India is moving towards Viksit Bharat, where tribal communities receive the opportunities and resources they need to thrive in a rapidly evolving socio-economic landscape.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

India’s Defence Gets a ₹10,147 Crore Push: MoD Procures Advanced PINAKA MLRS Rockets

The Ministry of Defence (MoD) has signed multiple contracts worth ₹10,147 crore with Economic Explosive Limited (EEL) and Munitions India Limited (MIL) for the procurement of advanced rockets for the PINAKA Multiple Launch Rocket System (MLRS). Additionally, Bharat Electronics Limited (BEL) has been awarded a contract to upgrade the SHAKTI software, further enhancing operational efficiency. These agreements, signed in New Delhi on February 6, 2025 in the presence of Defence Secretary Shri Rajesh Kumar Singh, mark a significant step towards bolstering India’s artillery firepower.

Advanced Ammunition for Strategic Superiority

The contracts focus on acquiring two types of advanced ammunition:

  • Area Denial Munition (ADM) Type-1 (DPICM): This specialised warhead is designed to scatter sub-munitions over a large area, effectively targeting mechanised enemy forces, vehicles, and personnel. This capability enables the Indian Army to deny enemy access to strategic zones.
  • High Explosive Pre-Fragmented (HEPF) Mk-1 (Enhanced) Rockets: An advanced version of the existing HEPF rockets, these upgraded variants offer extended range and enhanced precision, allowing deep-strike capabilities into adversarial territory.

By integrating these sophisticated rockets, the Artillery Rocket Regiments will see a significant modernisation boost, reinforcing India’s long-range offensive capabilities.

Boost to Indigenous Defence Manufacturing

Beyond strengthening national security, these procurements align with the Government’s ‘Aatmanirbhar Bharat’ initiative. The contracts will drive substantial employment generation, both directly and indirectly, by encouraging domestic manufacturing in the defence sector. The participation of Indian Micro, Small, and Medium Enterprises (MSMEs) in component production will further boost the country’s indigenous defence ecosystem.

Paving the Way for a Self-Reliant India

The PINAKA MLRS contracts underline India’s commitment to self-sufficiency in defence manufacturing. By procuring and enhancing cutting-edge military technology within the country, India is not only modernising its defence infrastructure but also reinforcing its strategic autonomy. These efforts will serve as a cornerstone in achieving the broader vision of ‘Aatmanirbhar Bharat’ in the defence sector.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

Raymond Expands Real Estate Footprint with 5th Joint Development Agreement in Mumbai

Raymond Limited has announced its latest milestone in the real estate sector, with its 100% owned step-down subsidiary, Ten X Realty West Limited, signing a significant Joint Development Agreement (JDA) for a residential project in Mahim West, Mumbai. This marks the company’s second residential project in the locality and its 5th overall project beyond its existing developments in Thane.

The share price of Raymond was trading 0.40% higher as of 11:35 AM on February 7, 2025.

Strategic Expansion in the Mumbai Metropolitan Region

The newly signed JDA aligns with Raymond’s growth strategy in the Mumbai Metropolitan Region (MMR), reinforcing its position as a major player in the real estate sector. With an estimated revenue potential of ₹1,800 crore, the Mahim West project is set to contribute significantly to the company’s future growth and overall portfolio expansion.

With this addition, the total Gross Development Value (GDV) of Raymond’s real estate projects now stands at approximately ₹35,000 crore, further solidifying its presence in one of India’s most dynamic property markets.

A Legacy of Diversified Growth

Raymond Limited, originally established in 1925 as a pioneer in fabric manufacturing, has successfully diversified into multiple sectors, including engineering and real estate. Following the demerger of its Lifestyle Business into a separate listed entity in 2024, Raymond now focuses on two core business segments: Real Estate and Engineering.

Raymond Realty has quickly risen to prominence, ranking among the top 10 real estate developers in India. Notably, it stands as the only real estate player in India to have delivered its maiden project two years ahead of the RERA timeline, further strengthening its credibility among homebuyers in the MMR region.

Engineering Business Strengthens Market Position

Alongside real estate, Raymond’s engineering business remains a key pillar of its operations, holding a leadership position in the manufacturing of files and hand tools. With the recent acquisition of Maini Precision Products Limited (MPPL), Raymond’s engineering division is set to expand further into high-growth sectors, including automotive, electric vehicles (EV), aerospace, and defence.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

Redington’s Step-Down Subsidiary Set to Complete Paynet Divestment

Redington Limited has announced a significant development regarding its step-down subsidiary, Arena Bilgisayar Sanayi Ve Ticaret A.S (“Arena”), which is listed in Istanbul, Turkey. The company has now received the necessary regulatory approvals to proceed with the transfer of its wholly-owned subsidiary, Paynet Ödeme Hizmetler A.Ş (“Paynet”), to Iyzi Payment and Electronic Money Services Inc.

The move comes after Redington had initially disclosed its intent to divest Paynet on May 7, 2024. The latest update confirms that both the Turkish Competition Authority and the Central Bank of the Republic of Turkey have given their approval for the transaction. 

Redington’s share price was trading marginally higher by 0.20% as of 11:21 AM on February 7, 2025.

Transaction Progress and Next Steps

With regulatory clearances now in place, the final share transfer and sale process will be completed following the fulfilment of the conditions outlined in the definitive agreement signed on May 6, 2024. This agreement sets the framework for the completion of the transaction, ensuring compliance with all legal and procedural requirements.

Upon the successful conclusion of the transfer, Redington will provide further updates as per regulatory obligations.

Strategic Implications

The divestment of Paynet aligns with Redington’s broader corporate strategy, possibly aimed at streamlining its portfolio and focusing on its core operations. While the company has not explicitly disclosed the reasons behind the divestment, such moves are often driven by strategic realignment or a shift in market priorities.

With the transaction nearing completion, stakeholders will be watching closely for Redington’s next steps, particularly in how the proceeds or resources freed up from this sale will be redeployed within the organisation.

Financial Performance 

Redington reported an 18% rise in quarterly profit, driven by consistent demand for computers and mobile phones—its largest business segments.

The growing adoption of AI-powered computers in corporate and educational sectors, along with new smartphone launches, has helped manufacturers and distributors navigate inflationary pressures and fluctuating demand.

Redington, a key distributor for Apple and Samsung, recorded a profit of ₹400 crore for the October–December quarter, up from ₹341 crore in the same period last year. Revenue from operations increased nearly 14% to ₹26,716 crore, supported by a 9% growth in its mobile phone business and a 6% rise in its consumer and commercial computer segment.

Additionally, the company’s technology solutions division saw a 28% increase in revenue, driven by higher software spending.

Redington has been expanding into new markets and strengthening its cloud services division to diversify beyond electronics distribution, which remains its primary revenue driver

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

Kolte-Patil Signs 22-Acre Joint Development Project in Pune: Expected GDV of ₹4,000 Crore

Kolte-Patil Developers Limited, a well-established real estate player in Pune, Mumbai, and Bengaluru, has announced a joint development agreement for a new residential/mixed-use project in Pune. Located in Wadgaon Khurd, Sinhagad Road, this project is set to span approximately 22 acres and has an expected Gross Development Value (GDV) of ₹4,000 crore.

The share price of Kolte-Patil Developers reached an intraday high of ₹322 at 10:18 AM on February 7, 2025.

Strategic Location with Excellent Connectivity

The new development is strategically positioned within the Pune Municipal Corporation limits in the South-West region of the city. The location offers multiple advantages:

  • Scenic Surroundings – The project is near the Mutha River, offering picturesque views.
  • Unobstructed Green Spaces – A reserved garden to the south ensures open views.
  • Upcoming Infrastructure – A proposed 90-meter-wide ring road along the western boundary adds future connectivity.
  • Proximity to Key Amenities – Schools, hospitals, shopping malls, and entertainment hubs are all within a 2-kilometre radius.

Vision for Urban Growth and Sustainability

Commenting on the project, Yash Patil, Joint Managing Director of Kolte-Patil Developers, stated: “Pune’s real estate landscape continues to evolve, presenting significant opportunities for well-planned, high-quality developments. By leveraging our deep local expertise and strong brand equity, we are strengthening our presence in high-potential areas while shaping Pune’s urban future.”

The project is part of Kolte-Patil’s broader expansion strategy, focusing on community-centric developments that align with the city’s growing housing demand.

A Major Milestone in Pune’s Real Estate Market

Atul Bohra, Group CEO of Kolte-Patil Developers, described the project as a significant milestone: “This large-scale development of ~5 million square feet reinforces our leadership in Pune’s real estate market. With strong connectivity and essential infrastructure nearby, this project aligns with our vision of creating sustainable, high-quality living spaces.”

With Pune’s real estate market witnessing strong demand, this development is expected to cater to homebuyers looking for a blend of modern living and accessibility.

About Kolte-Patil Developers

Founded in 1991, Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL) has established itself as a prominent real estate developer. The company has developed over 28 million square feet of residential, commercial, and integrated township projects. Its stronghold in Pune is complemented by expansions into Mumbai and Bengaluru, with a focus on society redevelopment projects in Mumbai.

The company has received several industry recognitions, including:

  • Times Power Brand – Legacy Brand in Real Estate (2023)
  • ET Business Awards – Most Iconic Luxury Brand in Real Estate (2022)
  • Asia Pacific Property Awards (2021)

Kolte-Patil maintains financial stability, with one of the lowest debt levels in the sector and a CRISIL AA-/Stable rating.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

Indus Towers to Acquire 16,100 Telecom Towers from Bharti Airtel and Bharti Hexacom

Indus Towers Limited has announced its decision to acquire passive telecom infrastructure assets, including 16,100 telecom towers, from Bharti Airtel Limited and Bharti Hexacom Limited. This acquisition, conducted via a slump sale, aligns with the company’s strategic focus on market expansion and operational synergy.

As of 9:48 am on February 7, 2025, the share price of Indus Towers was trading over 2.5% higher.

Strengthening Market Position

With a pan-India presence of 2,34,643 towers and 3,86,819 co-locations as of December 31, 2024, Indus Towers has been a significant player in the telecom infrastructure sector. The acquisition is expected to further bolster its asset base, allowing for enhanced coverage and service capabilities.

The closing sharing factor for the company stands at 1.65, and the additional infrastructure is anticipated to improve this metric, leading to increased operational efficiency.

Transaction Details and Financial Considerations

This transaction is classified as a related-party transaction since Bharti Airtel is the promoter and holding company of Indus Towers, while Bharti Hexacom is a fellow subsidiary. However, the acquisition is conducted at arm’s length, based on an independent valuation report, and has received approval from the Audit & Risk Management Committee and the Board of Directors.

The total cost of the acquisition is capped at ₹33,087 million, subject to closing adjustments agreed upon by the parties. The deal will be financed through borrowings, and completion is expected on or before March 31, 2025, subject to statutory and regulatory approvals.

Strategic Benefits and Growth Outlook

The acquisition aligns with Indus Towers’ growth strategy, enhancing its footprint in the telecom infrastructure segment. By increasing the number of towers under its management, the company aims to improve service offerings, optimise resource allocation, and drive revenue growth through increased sharing opportunities.

Furthermore, the acquisition positions Indus Towers favourably amid the rising demand for robust telecom infrastructure, as network providers expand their 4G and 5G capabilities across the country.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing

Income Distribution Announced for Select Invesco Mutual Fund Schemes

Invesco Mutual Fund has declared income distribution under the Income Distribution cum Capital Withdrawal (IDCW) option for several of its schemes. The record date for this payout is set for February 7, 2025. Investors holding units in the eligible schemes as of this date will qualify for the distribution.

Distribution Details Across Schemes

The income distribution varies across different funds, with Invesco India Infrastructure Fund leading the payout at ₹4.5 per unit under both the Direct-IDCW and Regular-IDCW options. The Invesco India Focused Fund follows, with a declared ₹2.5 per unit for both Direct and Regular IDCW plans.

Among large-cap investments, the Invesco India Large Cap Fund has announced an IDCW of ₹3 per unit, applicable to both Direct and Regular options. Similarly, the Invesco India Small Cap Fund has also set its income distribution at ₹3 per unit under both Direct-IDCW and Regular-IDCW categories.

The IDCW Breakdown

Scheme Distribution (₹/unit)
Invesco India Infrastructure Direct-IDCW 4.5
Invesco India Infrastructure-IDCW 4.5
Invesco India Large Cap Direct-IDCW 3.0
Invesco India Large Cap-IDCW 3.0
Invesco India Small Cap Direct-IDCW 3.0
Invesco India Small Cap Reg-IDCW 3.0
Invesco India Focused Fund Direct-IDCW 2.5
Invesco India Focused Fund Reg-IDCW 2.5

Considerations for Investors

Investors should be aware that IDCW payouts are subject to applicable taxes, and the NAV (Net Asset Value) of the respective funds may decrease by the payout amount after distribution. Those looking for regular income might find these payouts attractive, while others may prefer the growth option for potential long-term wealth accumulation.

The record date of February 7, 2025, means that only those investors who hold units before the market closes on this date will be eligible for the announced distribution. For investors seeking consistent returns, evaluating how these payouts align with their financial goals is crucial.

Curious about your SBI SIP returns? Get accurate estimates of your investment growth using our SBI SIP Calculator and stay ahead of your financial goals.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Shringar House of Mangalsutra Files for IPO

Shringar House of Mangalsutra Ltd, known in the jewellery market, has filed draft papers with SEBI to launch an Initial Public Offering (IPO). The Mumbai-based company’s IPO consists of a fresh issue of 2.43 crore equity shares with no Offer for Sale (OFS) component. A portion of the IPO will be reserved for eligible employees, who will also receive a discount, as per the Draft Red Herring Prospectus (DRHP) filed on Wednesday.

Use of Proceeds

The company plans to utilize ₹250 crore from the fresh issue to meet working capital requirements and for general corporate purposes. After the IPO, its shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

IPO Management

Choice Capital Advisors is the sole book-running lead manager, while MUFG Intime India is the registrar. The IPO will follow a book-building process, with 50% allocated to Qualified Institutional Buyers (QIBs), 15% to Non-Institutional Investors (NIIs), and 35% to retail investors.

Background and Operations

Shringar House of Mangalsutra was incorporated in 2009 and is into designing, manufacturing, and selling Mangalsutras made with American diamonds, pearls,and semi-precious stones in 18k and 22k gold. The company operates in the B2B segment and, as of 2023, held 6% of the organized Mangalsutra market in India, according to reports.

Shringar operates from its flagship store on Kalbadevi Road, Mumbai, and has a manufacturing facility in Lower Parel (West), Mumbai. It employs 12 in-house designers and 182 in-house Karigars (artisans), alongside third-party artisans.

Financial Performance

The company’s revenue from operations increased by 16% to ₹1,101.52 crore in FY24, up from ₹950.22 crore in the previous fiscal. Its profit after tax (PAT) rose by 33% to ₹31.10 crore in FY24, compared to ₹23.36 crore in FY23. For the six-month period ending September 30, 2025, revenue stood at ₹687.13 crore, with net profit at ₹33.03 crore.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing