Shringar House of Mangalsutra IPO subscribed 8.24 times

The initial public offer of Shringar House of Mangalsutra received bids for 14,02,95,060 shares as against 1,70,16,000 shares on offer, according to stock exchange data at 17:00 IST on Thursday (11 September 2025). The issue was subscribed 8.24 times. The issue opened for bidding on 10 September 2025 and it will close on 12 September 2025. The price band of the IPO is fixed between Rs 155 and 165 per share. An investor can bid for a minimum of 90 equity shares and in multiples thereof. The IPO comprises a complete fresh issue of equity shares, aggregating up to Rs 400.95 crore. The objectives for the fresh issue include Rs 280 crore for funding working capital requirements and the remaining amount for general corporate purposes. The promoters and promoter group hold an aggregate of 7,21,31,280 equity shares, aggregating to 99.99% of the pre-offer issued and paid-up equity share capital. Shringar House of Mangalsutra designs, manufactures, and markets gold Mangalsutras (18k & 22k) with stones like American diamond, CZ, pearls, and semi-precious gems. With 15+ collections and 10,000+ SKUs, it holds 6% share of India’s organized Mangalsutra market (CY23). The company serves 1,200+ B2B clients across 24 states and 4 UTs, including Malabar Gold, Titan, Reliance Retail, and Joyalukkas, and has expanded exports to the UK, UAE, USA, New Zealand, and Fiji. It operates a Maharashtra-based plant (2,500 kg annual capacity) supported by 22 designers and 166 karigars. Ahead of the IPO, Shringar House of Mangalsutra on Tuesday, 9 September 2025, raised Rs 853.87 crore from anchor investors. The board allotted 8.29 crore shares at Rs 103 each to 59 anchor investors. The firm reported a consolidated net profit of Rs 1.74 crore and total income of Rs 158.88 crore for the twelve months ended on 31 March 2025.