IPO Details
Bidding Dates
10 Sep '25 - 12 Sep '25
Minimum Investment
₹14,850/ 1 Lots (90 Shares)
Price Range
₹155 -₹165
Maximum Investment
₹1,93,050/ 13 Lots (1,170 Shares)
Retail Discount
To be announced
Issue Size
₹400.95 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Sep 10, 25
IPO Closing Date
Sep 12, 25
Basis of Allotment
Sep 15, 25
Initiation of Refunds
Sep 16, 25
IPO Listing Date
Sep 17, 25
About Shringar House of Mangalsutra IPO
Shringar House of Mangalsutra IPO is a book-built issue with a total size of ₹400.95 crore. The entire issue consists of a fresh issue of 2.43 crore equity shares, aiming to raise funds for the company’s business needs. The IPO opens for subscription on September 10, 2025, and will close on September 12, 2025.
The basis of allotment is expected to be finalised on September 15, 2025, and the shares are likely to be listed on NSE and BSE on September 17, 2025. The price band for the issue is set between ₹155 and ₹165 per share, offering investors an entry at different levels.
The minimum application size is 90 shares, making the minimum investment for retail investors ₹14,850 at the upper band. For HNI investors, the minimum lot size is 14 lots, equivalent to 1,260 shares, amounting to ₹2,07,900.
Choice Capital Advisors Private Limited is acting as the book running lead manager, while MUFG Intime India Private Limited has been appointed as the registrar to the issue.
Shringar House of Mangalsutra IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding working capital requirements.
- General corporate purposes.
About Shringar House of Mangalsutra Limited
Shringar House of Mangalsutra is among the leading and specialised designers and manufacturers of Mangalsutras in India.
The company focuses exclusively on designing, manufacturing, and marketing a wide range of Mangalsutras in 18k and 22k purity of gold, often studded with American diamonds, cubic zirconia, pearls, mother of pearl, and semi-precious stones.
These products are offered primarily to business-to-business (B2B) clients, including corporate customers, wholesalers, and retailers across India and abroad.
The company contributed around 6% of the organised Mangalsutra market in India in CY23, reflecting its strong foothold in this niche jewellery segment. With more than 15 collections and over 10,000 active SKUs.
Shringar House of Mangalsutra has established a widespread domestic and international presence. Domestically, it caters to clients across 24 states and 4 union territories, while internationally, it has expanded into the United Kingdom, New Zealand, UAE, USA, and Fiji.
As of March 31, 2025, the company served 34 corporate clients, 1,089 wholesalers, and 81 retailers. It also undertakes job-work manufacturing for its corporate customers. For fiscals 2025, 2024, and 2023, the company processed 1,320.72 kgs, 1,221.19 kgs, and 870.26 kgs of bullion, generating revenues of ₹264.83 million, ₹193.24 million, and ₹156.47 million, respectively.
The company traces its origins to 2009, when it was incorporated as Shringar House of Mangalsutra Private Limited to bring structure and corporate governance to its operations.
Industry Outlook
- In the Gems & Jewellery (G&J) industry, jewellery retailing being high-margin yet underpenetrated, there remains ample scope for growth, especially in metro and tier I cities where consumers are increasingly open to paying a premium for branded products.
- The domestic jewellery industry, valued at ₹4,976 billion in CY23, has shown recovery after COVID-19-led disruptions in CY20.
- While demand for gold jewellery volumes declined by 2% in CY23, higher gold prices supported overall revenues. The industry is projected to grow by 12.8% in CY24 to ₹5,610 billion, and further at a CAGR of 8.8% to reach ₹11,044 billion by CY32.
- At the same time, technology adoption including CAD, 3D printing, and e-commerce platforms is transforming both manufacturing and retail, enabling jewellers to cater to diverse consumer needs more efficiently.
- Additionally, the surge in weddings, driven by India’s youthful population, a growing middle class, and lavish celebrations such as destination weddings, continues to fuel jewellery demand.
How To Apply for the Shringar House of Mangalsutra IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Shringar House of Mangalsutra IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Shringar House of Mangalsutra IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Shringar House of Mangalsutra Limited
Registered office: Unit No. B-1, Lower Ground Floor, Jewel World (Cotton Exch Bldg), 175, Kalbadevi Rd, Bhuleshwar, Mumbai – 400 002, Maharashtra.
Phone:+91 90044 29107
E-mail:cs@shringar.ms
Shringar House of Mangalsutra IPO Reservation
|
Investor Category |
Shares Offered |
|
QIB Shares |
Not more than 50.00% of the Net Issue |
|
NII (HNI) Shares |
Not less than 15.00% of the Net Issue |
|
Retail Shares |
Not less than 35.00% of the Net Issue |
|
Total Shares |
2,43,00,000 (100.00%) |
Shringar House of Mangalsutra IPO Lot Size Details
|
Application |
Lots |
Shares |
Amount |
|
Individual investors (Retail) (Min) |
1 |
90 |
₹14,850 |
|
Individual investors (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 House of Mangalsutra IPO Promoter Holding
The promoters of the company include Chetan N Thadeshwar, Mamta C Thadeshwar, Viraj C Thadeshwar and Balraj C Thadeshwar.
|
Share Holding Pre-Issue |
99.00% |
|
Share Holding Post Issue |
- |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Shringar House of Mangalsutra IPO
|
KPI |
Value |
|
PAT Margin (%) |
4.27 |
|
RoCE (%) |
32.43 |
|
Debt/Equity |
0.61 |
|
RoNW (%) |
36.20 |
|
EBITDA Margin (%) |
6.48 |
Shringar House of Mangalsutra IPO Prospectus
Shringar House of Mangalsutra IPO Registrar and Lead Managers
Shringar House of Mangalsutra IPO Lead Managers
- Choice Capital Advisors Private Limited
Registrar for Shringar House of Mangalsutra IPO
MUFG Intime India Private Limited
- Contact Number: +91-22-4918 6270
- Email Address: shringarhouse.ipo@linkintime.co.in
- Shringar House of Mangalsutra IPO Registrar: https://linkintime.co.in/Initial_Offer/public-issues.html
IPO Financials
| Particulars | Year Ending on Mar 31, 2025 | Year Ending on Mar 31, 2024 | Year Ending on Mar 31, 2023 |
|---|---|---|---|
| Revenue from Operations (in ₹ million) | 14,298.15 | 11,015.23 | 9,502.17 |
| EBITDA (in ₹ million) | 926.12 | 507.56 | 388.86 |
| EBITDA Margin (%) | 6.48% | 4.61% | 4.09% |
| Net Profit After Tax (in ₹ million) | 611.14 | 311.05 | 233.58 |
| Return on Net Worth (%) | 36.20% | 25.65% | 24.84% |
| Return on Capital Employed (RoCE) (%) | 31.44% | 21.52% | 19.46% |
| Debt-Equity Ratio | 0.61 | 0.80 | 0.88 |
Know before investing
Strengths
8-
Strong brand recognition supported by leading organised players such as Tanishq, Kalyan Jewellers, and Malabar Gold & Diamonds.
-
Certified products ensuring quality and purity, which enhance customer trust and confidence.
-
Extensive distribution network across urban and semi-urban markets, complemented by growing online presence.
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Innovation and contemporary design portfolio catering to evolving consumer preferences, especially younger demographics.
-
Rising middle-class affluence driving demand for both traditional and modern jewellery styles.
-
Expanding digital channels and e-commerce platforms enabling access to tech-savvy and online-first customers.
-
Increasing demand for branded and certified jewellery supported by the structural shift from unorganized to organized sector.
-
Significant growth opportunities in Tier 2 and Tier 3 cities through retail expansion and local market penetration.
Risks
8-
High operational and compliance costs compared to unorganized players may affect price competitiveness.
-
Limited rural reach restricts growth opportunities, while unorganised jewellers dominate these markets.
-
Heavy dependency on gold prices makes sales vulnerable to fluctuations and deters cost-sensitive customers.
-
Stringent regulatory compliance and taxation increase operational complexity and reduce flexibility.
-
Strong competition from the unorganized sector offering lower prices remains a persistent threat.
-
Economic downturns or recessions could reduce discretionary spending on luxury jewellery.
-
Adverse regulatory changes in taxation, import duties, or policies may directly affect profitability.
-
Price volatility in gold due to global economic factors poses risks to consumer demand and market stability.
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Shringar House of Mangalsutra IPO FAQs
Shringar House of Mangalsutra IPO is a book built issue IPO. It runs from September 10, 2025, to September 12, 2025.
The Basis of Allotment will happen on Monday, September 15, 2025.
The IPO subscription window will open on September 10, 2025.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 90 shares.
The listing date for Shringar House of Mangalsutra IPO is Wednesday, September 17, 2025.
The issue size of the Shringar House of Mangalsutra IPO is ₹400.95 crore.
The open and close dates for Shringar House of Mangalsutra IPO are from September 10, 2025, to September 12, 2025.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
You will receive a notification once your order is successfully placed with the exchange after the bidding starts.
MUFG Intime India Private Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.
The Shringar House of Mangalsutra IPO is proposed to be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Shringar House of Mangalsutra Limited‘s financial statements, download the IPO’s RHP document.
Pre-apply allows investors to apply for the Shringar House of Mangalsutra IPO two days before the subscription period opens, ensuring an early submission of your application.
Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.
