Shringar House of Mangalsutra IPO: Price Band Set at ₹155-165, Issue Opens September 10

New Delhi, September 3, 2025 – Jeweller Shringar House of Mangalsutra Ltd has announced the price band for its forthcoming ₹401 crore initial public offering (IPO), setting it at ₹155 to ₹165 per share.

Established in 2009 and with its head office located in Mumbai, Shringar House of Mangalsutra deals in the designing, production, and marketing of Mangalsutras made of 18k and 22k gold. Its product range includes Mangalsutras studded with American diamonds, cubic zirconia, pearls, mother of pearl, and semi-precious stones. It is a Business-to-Business (B2B) company and, according to a CareEdge report quoted in its draft papers, held a 6% market share of India’s organised Mangalsutra market in 2023.

IPO Details & Key Stakeholders

The initial public issue will open for subscription from September 10 to 12. It includes a fresh issue of 2.43 crore equity shares, aggregating ₹401 crore at the higher end of the price band. Notably, Shringar House of Mangalsutra IPO has no Offer for Sale (OFS) component, meaning all funds will be received directly by the company. Proceeds of the funds raised will mainly be utilized to address the working capital needs and general corporate needs.

The book-running lead manager for the IPO is Choice Capital Advisors, while MUFG Intime India has been appointed as the registrar. With its consistent financial expansion and dominance in a niche jewelry segment, the IPO will be in focus among both institutional and retail investors.

Financial Snapshot

The company reported strong financial growth in FY25, with revenue rising to ₹1,430 crore from ₹1,101 crore in FY24, while profit after tax nearly doubled to ₹61 crore from ₹31 crore in the same period.

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