Shringar House of Mangalsutra Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹155 - ₹165
- Lot size
- 90 shares
- Issue amount
- ₹400.95 cr
- Total subscription
- 60.29×
- Opens
- 10 Sept 2025
- Closes
- 12 Sept 2025
- Allotment
- 15 Sept 2025
- Listing
- 17 Sept 2025
Offer at a glance
Issue overview
- Issue size
- 2,43,00,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹13,950
- Fresh issue
- ₹400.95 cr
- Offer for sale
- ₹0 cr
- Registrar
- Link Intime India Private Ltd (MUFG)
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,850
- Issue type
- Bookbuilding IPO
- Shares before issue
- 7,21,32,080
- Shares after issue
- 9,64,32,080
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 90 | ₹14,850 |
| sHNI | 14 | 1,260 | ₹2,07,900 |
| bHNI | 68 | 6,120 | ₹10,09,800 |
Share reservation
Subscription & GMP
Subscription by category
Reported 12 Sept 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 94,422 | 23,06,741 |
| EMPLOYEES | 0 | 13,007 |
| HNIs(10L +) | 1,927 | 32,724 |
| HNIs (2-10L) | 963 | 74,660 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 80.12 | 8,125.35 |
| FIIs | 0 | 1,505.1 |
| FIs | 0 | 5,531 |
| Mutual Funds | 0 | 78.08 |
| Others | 0 | 1,011.17 |
| RETAIL | 140.22 | 3,816.42 |
| HNIs 2+ | 20.03 | 1,599.52 |
| HNIs 10+ | 40.06 | 3,363.24 |
| EMPLOYEES | 0.33 | 23.07 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 8.57 | 4.39 | 3.29 |
| ROE | 0 | 0 | 0 |
| ROCE | 32.43 | 21.52 | 19.46 |
| RONW | 36.2 | 25.65 | 24.84 |
| PRE IPO(PE) | 19.47 | 0 | 0 |
| POST IPO(PE) | 26.04 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Utssav CZ Gold Jewels Ltd | 16.85 | NA | 10 | 53.23 | 30.94 | 11.63 |
| Shringar House of Mangalsutra Limited | NA | NA | 10 | 27.84 | 36.20 | 8.57 |
| RBZ Jewellers Ltd | 13.37 | NA | 10 | 61.26 | 17.15 | 9.7 |
| Sky Gold & Diamonds Limited | 28.73 | NA | 10 | 46.61 | 28.59 | 9.44 |
Company information
Company profile
Shringar House of Mangalsutra Limited, incorporated in January 2009, specializes in designing and manufacturing Mangalsutras in India. The company offers a wide collection featuring American diamonds, cubic zirconia, pearls, and semi-precious stones, crafted in 18k and 22k gold for its B2B clients. Its products are supplied to corporate clients, wholesalers, and retailers across India, as well as exported to countries including the UK, New Zealand, UAE, USA, and Fiji. Its client base includes renowned names such as Malabar Gold, Titan, GRT Jewellers, Reliance Retail, Joyalukkas, and Damas Jewellery (UAE). As of September 30, 2024, the company had served 31 corporate clients, 76 wholesalers, and 731 retailers, with higher figures recorded in Fiscal 2024. During the six months ending September 30, 2024, and in Fiscal 2024, 2023, and 2022, the company processed 638.48 kgs, 1,221.19 kgs, 1,272.11 kgs, and 870.26 kgs of bullion into Mangalsutras, generating revenues of ₹115.48 million, ₹193.24 million, ₹156.47 million, and ₹99.98 million respectively. As of December 31, 2024, it employed a 12-member in-house design team, 182 in-house Karigars, and partnered with third-party Karigars to meet increasing demand while staying aligned with market trends.
Strengths
- Diverse Product Range – Wide portfolio with 15+ collections and 10,000+ SKUs across traditional, bridal, contemporary, and customized Mangalsutras.
- Efficient In-House Manufacturing – Integrated 8,300 sq. ft. facility with 2,500 kg annual capacity ensuring smooth production.
- Authenticity & Quality – Every product carries HUID hallmarking with strict quality checks for durability and trust.
Risk factors
- Client Dependence – Heavy reliance on corporate clients, wholesalers, and retailers without long-term contracts exposes revenue to order cancellations.
- Working Capital Intensive – High capital requirements may strain liquidity and impact growth if funding is unavailable or costly.
- Single Facility Risk – Dependence on one Mumbai unit makes operations vulnerable to shutdowns, slowdowns, or under-utilization.
Promoters
Chetan N Thadeshwar
Mamta C Thadeshwar
Viraj C Thadeshwar
Balraj C Thadeshwar
Registrar & documents
Lead manager
Choice Capital Advisors Private Limited
Registrar & contacts
Link Intime India Private Ltd (MUFG)
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Unit No. B-1, Lower Ground Floor Jewel World (Cotton Exch Bldg), 175, Kalbadevi Rd, Bhuleshwar, Mumbai, Maharashtra, 400002
+91 90044 29107
[email protected]Company website ↗Understanding SHRINGARMS IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.