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Shringar House of Mangalsutra Limited launches IPO on September 10, 2025, listing on BSE and NSE.
Shringar House of Mangalsutra IPO Opens Sept 10.
Shringar House of Mangalsutra IPO GMP: Shringar House of Mangalsutra Limited, a leading designer and manufacturer of mangalsutras in India, is set to launch its initial public offering (IPO) on September 10, 2025. The book-building issue, with a face value of Rs 10 per share, carries a price band of Rs 155–165 and will close on September 12. The company will list its shares on both BSE and NSE, with the listing date fixed for September 17.
The IPO lot size has been set at 90 shares, with retail investors allowed to bid for a minimum of one lot (Rs 14,850) and a maximum of 13 lots (Rs 1,93,050). Allocation will be split among Qualified Institutional Buyers (50%), Retail Investors (35%), and Non-Institutional Investors (15%). Choice Capital Advisors is the book-running lead manager, while MUFG Intime India Private Limited will serve as the registrar.
Shringar House of Mangalsutra has built a strong domestic and international presence, catering to over 34 corporate clients, 1,089 wholesalers, and 81 retailers. Its clientele includes marquee names such as Malabar Gold, Titan Company, GRT Jewellers, Reliance Retail, and Novel Jewels of the Aditya Birla Group. The company exports to markets like the UK, USA, UAE, New Zealand, and Fiji.
For FY25, the firm reported revenue of Rs 14,298 million and a net profit of Rs 611 million, reflecting steady growth over the past three years. The IPO proceeds will be used to fund working capital requirements and general corporate purposes.
Shringar House of Mangalsutra IPO GMP
According to market observers, unlisted shares of Shringar House of Mangalsutra Ltd are currently trading at Rs 190 against the upper IPO price of Rs 165. It means a grey market premium or GMP of Rs 25, which is nearly 15.15% over its IPO price, indicating a strong listing for the issue.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Shringar House of Mangalsutra IPO: Should You Subscribe?
Master Capital Services in its note said “the demand for Mangalsutra is complementary to Jewellery demand, hence the demand trend depicts a similar trend. Hence in the long term the market for Mangalsutra is expected to remain healthy. Shrinagar House of Mangalsutra Limited is well-positioned to capture this expected growth by establishing a supply chain network to reach untapped geographical regions. The company is strengthening its relationships with existing clients, participating in their future expansions, and continuing to invest in marketing and brand-building initiatives. Investors can consider the IPO for long-term investment.”
Anand Rathi noted, “On the valuation front, based on annualized FY25 earnings, the company is seeking a P/E of 26 times, and a post-issue market capitalization of approximately Rs 15,911 million, making the issue appears to be fairly priced. The company’s operations are working-capital intensive, with upfront gold payments and 15–20 days client credit. As scale expands, working capital needs will rise, and IPO proceeds will be used to fund them.
We also believe that the company is likely to benefit from the rising shift from unorganized to organised sector as well as the huge addressable market size of Mangalsutra, along with its plans to establish a new supply chain network to expand into untapped domestic markets and enter new international markets, We assign a ‘Subscribe for Long term’ rating for the IPO backed by Shringar’s robust growth, expanding client base, strong financials, and strategic expansion, enabling long-term value creation.”
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
September 09, 2025, 18:03 IST
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