Shringar House of Mangalsutra IPO Gains Strong Traction; Retail and Employee Quotas Lead

Mumbai, September 11, 2025: The ₹400 crore IPO of Shringar House of Mangalsutra Limited is gaining strong investor interest on its second day. Until 1:30 PM, the issue had been subscribed 5.24 times, with 8,92,46,250 shares bid for, against 1,70,16,000 shares offered.

The issue size for the IPO is ₹400.95 crore, and the company has set the price band at ₹155 – ₹165 per share. With the minimum lot size of 90 shares, the minimum retail investor investment comes to ₹14,850 at the upper price band. Shringar House of Mangalsutra IPO opened yesterday and will close on September 12, 2025, with the listing date expected on September 17, 2025.

Shringar House of Mangalsutra Limited is a jewellery company that specialises in the design, manufacture, and sale of a variety of mangalsutras. The company was established as a private limited company on 2nd January 2009 and was later converted into a public limited company in December 2024. Its headquarters are in Mumbai, Maharashtra, India.

Employees Lead The Subscription

The employ͏ee ͏quota has recorded ͏t͏he highest ͏subscription so far, being o͏ve͏rsubscr͏ibed 17.͏4͏4 times, ͏with 5,74,26,570 shares bid for ag͏ain͏st 84,98,00͏0 shares offered. ͏This is ͏f͏ollowed by the Non-͏Instituti͏onal Investors (NII) category, w͏hich ͏subscribed t͏he issue 8͏.58 time͏s, w͏ith 3,12,64,92͏0 shares bid against 36,4͏2,000 ͏shar͏es on ͏of͏f͏er͏. Me͏anwhile, subscription in the Qual͏ified͏ Ins͏titutional Buyers (QIB) segment͏ ͏remai͏ns the low͏e͏st at 0.04 times, w͏ith bids for only 2,͏06,010 shares agai͏nst 48,56͏,000 shares availabl͏e.

₹120 Crore Raised From Anchor Investors

The company allocated 72.84 lakh equity shares at the upper end of the price band of ₹165 per share to a group of domestic and global anchor investors. Ahead of the IPO, the company had raised ₹120 crore from a total of 14 anchor investors.

Some big names include:

• Kotak Mahindra Life Insurance Co. Ltd – ₹20 crore
• Maybank Securities Pte Ltd – ODI – ₹15 crore
• Plutus Investment Trust – Plutus Equity Investments Series – ₹10 crore
• Founders Collective Fund – ₹10 crore
• North Star Opportunities Fund VCC – Bull Value Inc. VCC Sub-Fund – ₹10 crore
• Societe Generale – ODI – ₹10 crore
• Mint Focused Growth Fund PCC – Cell 1 – ₹8.02 crore
• Aidos India Fund Ltd – ₹7.15 crore
• NAV Capital VCC – Emerging Star Fund – ₹5 crore
• Rajasthan Global Securities Pvt. Ltd – ₹5 crore

The increased traction on day two underscores the company’s good financials and its leading operations in the design, manufacture, and sale of a variety of mangalsutras. It remains to be seen how the IPO performs on its last day tomorrow.

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