The issue received bids of 1,02,59,15,670 Shares against the offered 1,70,16,000 equity shares, at a price band of Rs155-165, according to the data available on the stock exchanges.
FinTech BizNews Service
Mumbai, September 12, 2025: The Initial Public Offering of Shringar House of Mangalsutra Limited, a leading and specialised designers and manufacturers of Mangalsutra in India, was subscribed 60.29 times on the final day of bidding.
The issue received bids of 1,02,59,15,670 Shares against the offered 1,70,16,000 equity shares, at a price band of Rs155-165, according to the data available on the stock exchanges.
Qualified Institutional Buyer Portion and Non-Institutional Investors Portion were subscribed 101.41 times and 82.58 times respectively, whereas Retail Portion was subscribed 27.22 times. Employee Portion was subscribed 69.90 times. The issue kicked off for subscription on Wednesday, September 10, 2025, and will close on Friday, September 12, 2025.
Leading brokerage firms such as Anand Rathi, SBI Securities, BP Wealth, Canmoney, SMIFS, GEPL Capital, Marwadi Financial Service, Master Trust Broking & Investments and Adroit Financial Services have assigned a “Subscribe” rating to the IPO of Shringar House of Mangalsutra. Their views place strong emphasis on company’s strong financial growth, scalable business model, extensive product portfolio of over 10,000 SKUs, and expansion plans across 42 cities in India as well as international markets. The company’s established client relationships, in-house design and manufacturing capabilities, and focus on innovation further strengthen its competitive positioning. At valuations of 19–26x FY25 earnings, the issue is considered fairly priced, with long-term growth potential supported by rising wedding spends and the industry shift from unorganised to organised jewellery.
Choice Capital Advisors Private Limited is the sole book-running lead manager, and MUFG Intime India Private Limited is the registrar of the issue.
Company Information
Incorporated in the year 2009, Shringar House of Mangalsutra is engaged in designing, manufacturing, and marketing a diverse range of Mangalsutras adorned with various stones such as American diamonds, cubic zirconia, pearls, mother of pearl, and semi-precious stones, crafted in 18k and 22k gold. The company primarily serves its business-to-business (B2B) clients and holds approximately 6% of the organized Mangalsutra market in India as of CY23, according to a CareEdge Report.
The table below shows subscription data for all the categories of investors:
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