Shringar House of Mangalsutra Shares Lists at ₹188, Up 14% Over Issue Price

Shares of Shringar House of Mangalsutra debuted strongly on the stock exchanges on September 17, listing at a healthy premium over the issue price. Backed by robust investor demand during its IPO, the company’s market entry reflects growing confidence in the jewellery segment, particularly its niche dominance in the organised mangalsutra market.

Shringar House of Mangalsutra Market Debut Highlights

Shringar’s shares listed at ₹188.50 per share on the NSE, a 14.24% premium to the IPO price of ₹165. On the BSE, the stock opened at ₹187.70, a 13.7% jump from the issue price.

The company’s ₹400.95 crore IPO had generated heavy subscription, with bids exceeding the offer size by more than 60 times during the September 10–12 window.

Shringar House of Mangalsutra Subscription Details

The IPO was entirely a fresh issue of 2.43 crore shares, priced in the band of ₹155–₹165 per share, aggregating to ₹400.95 crore. Of this, ₹120.19 crore was raised in advance from anchor investors such as Kotak Mahindra Life Insurance, Maybank Securities, Societe Generale, Plutus Investment Trust, North Star Opportunities Fund, and Reliance backed entities, among others.

Proceeds of around ₹280 crore are earmarked for working capital needs, with the balance going toward general corporate purposes.

About Shringar House of Mangalsutra

Founded in 2009, Shringar House of Mangalsutra designs, manufactures, and markets a wide range of mangalsutras in 18k and 22k gold, often featuring embellishments such as American diamonds, cubic zirconia, pearls, and semi-precious stones.

The company serves marquee clients such as Malabar Gold, Titan, Reliance Retail, Joyalukkas, PN Gadgil Jewellers, and Damas Jewellery (UAE). As of FY25, Shringar had 34 corporate clients, 1,089 wholesalers, and 81 retailers, ensuring broad market penetration both domestically and internationally.

Read More: Indian Association of Sharjah Asks Govt to Scrap Gold Limit for NRIs.

Conclusion

Shringar House of Mangalsutra’s listing at a double digit premium underscores strong market enthusiasm for specialised jewellery brands with established distribution networks. With IPO proceeds bolstering working capital and growth plans, the company is poised to expand its presence in India’s evolving jewellery retail landscape.

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