Shringar House of Mangalsutra IPO Fully Subscribed Within Hours on Day 1; Retail and Employees Lead Demand

Mumbai, September 10, 2025: Shringar House of Mangalsutra’s IPO went live today for bidding. The ₹400 crore IPO had a strong start as it crossed the full subscription mark within hours of opening.

Subscription Status

As of 02:29 PM on September 10, 2025, the public issue has been subscribed to 1.37 times overall. The oversubscription is largely driven by robust retail and employee participation. So far, public issue in the retail category has touched 2.02 times oversubscription, whereas Employees have oversubscribed by 6.86 times. Non-Institutional Buyers have also shown healthy demand with 1.62 times subscription made up of sNII (bids below ₹10L) and bNII (bids above ₹10L) bidding 1.84 times and 1.50 times respectively. Demand from the QIB (Ex Anchor), however, has been muted, with only 0.01 times subscription so far.

Anchor Investor Allotment

Right before the company opened its IPO, it raised ₹120.19 crore from anchor investors. The allotment was made on September 9, 2025, by allotting 72.84 lakh shares at ₹165 per share. Major participants of the anchor investor allotment included Kotak Mahindra Life Insurance, Maybank Securities, Societe Generale, Plutus Investment Trust, and North Star Opportunities Fund, among others. Notably, no domestic mutual fund was allotted shares in the anchor round.

IPO Details

Shringar House of Mangalsutra IPO has a price band set at ₹155–₹165 per share, with a lot size of 90 shares (₹14,850 minimum). The minimum bidding size is also set at 90 shares minimum, i.e., one lot for retail investors. The minimum lot for S-HNI is 14 lots, and 68 lots for B-HNI. The subscription window is open from September 10, 2025, to September 12, 2025, with the listing date set at September 17, 2025.

About the Company

Shringar House of Mangalsutra, founded by Chetan Thadeshwar and Mamta C. Thadeshwar, is a Mumbai-based jewellery manufacturer specializing in 18k and 22k gold Mangalsutras. Its core clientele comprises retailers, wholesalers, and corporates across India and select international markets.

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