Shringar House of Mangalsutra made a lacklustre debut on the exchanges. The company was listed at Rs 188.50 on the National Stock Exchange, a premium of 14.2%, while it was listed at Rs 187.70 on the BSE, a premium of 13.7%.
The company raised a sum of Rs 400.95 crore. The book built issue was a fresh issue of 2.43 crore shares. The company set the IPO price band in a range of Rs 165 per equity share.
Shringar House of Mangalsutra IPO: Subscription
The total subscription for the IPO came in at 60.31 times. The retail segment was subscribed to 27.26 times. The employee section was booked 69.81 times. The NIIs subscribed 82.58 times, and the QIB category saw 101.41 times subscription.
Shringar House of Mangalsutra IPO: Key dates
The IPO was opened for bidding from September 10 and closed on September 12. The allotment for the IPO was finalised on September 15.
Shringar House of Mangalsutra IPO: Lot size
A retail application is of 90 shares, amounting to a total of Rs 14,850. The small NII could bid for a minimum of 14 lots of 1,260 shares, totalling Rs 2 lakh, and for a big NII, it is 68 lots of 6,120 shares, amounting to Rs 10 lakh.
Shringar House of Mangalsutra IPO: Employee Reservation
The issue of Shringar House of Mangalsutra included a reservation of up to 20,000 shares for employees offered to them at a discount of Rs 15 compared to the issue price.
Shringar House of Mangalsutra IPO: BRLM and registrar
Choice Capital Advisors was the lead bookrunner of the IPO, and MUFG Intime India worked as the registrar of the issue.
About Shringar House of Mangalsutra
Shringar House of Mangalsutra designs, manufactures, and markets a wide range of Mangalsutras in 18k and 22k gold, often studded with American diamonds, cubic zirconia, pearls, mother of pearl, and semi-precious stones. With 6% share of India’s organised Mangalsutra market in FY23, the company offers over 15 collections and 10,000+ active SKUs across bridal, traditional, contemporary, Indo-western, and daily-wear segments.
The company serves a diversified B2B client base spanning 24 states and 4 union territories, comprising 34 corporate clients, 1,089 wholesalers, and 81 retailers as of March 31, 2025. Revenue in FY25 was driven primarily by retailers (54.47%), followed by corporate clients (33.99%), wholesalers (11.50%), and others (0.04%).