Shringar House of Mangalsutra IPO: Check IPO Date, Live Subscription and Key Details
Shringar House of Mangalsutra Ltd., established in 2009, is a specialist in designing and manufacturing Mangalsutras. The company offers a wide range of 18k and 22k gold Mangalsutras, often adorned with American diamonds, cubic zirconia, pearls, and semi-precious stones. Operating on a B2B model, the company caters to a diverse customer base of corporate clients, wholesalers, and retailers, including prominent names like Malabar Gold, Titan, GRT Jewellers, and Reliance Retail in the domestic market, and Goldbox Enterprises and Damas Jewellery internationally.
Price Range
₹155.00-165.00
Issue Size
400.95
Lot Size
90 shares
IPO Type
Mainboard
GMP
₹31(+18.79%)
Est. Listing Price
₹196
Invisible
-
Invisible
-
Key Metrics
Check Live GMP
Face Value
₹10
EPS
6.34
P/E Ratio
26.04
RoNW
36.2%
ROE
30.42%
Debt to Equity
0.61
Timeline
IPO Opens
10 Sept
IPO Closes
12 Sept
Allotment
15 Sept
Listing
17 Sept
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 10 September 2025 | Subscription starts |
| IPO Close Date | 12 September 2025 | Subscription ends |
| Allotment Date | 15 September 2025 | Allotment |
| Listing Date | 17 September 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,850 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,93,050 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,07,900 |
SHNI (Max)Below ₹10,00,000 | 67 | ₹9,94,950 |
BHNIAbove ₹10,00,000 | 68 | ₹10,09,800 |
IPO Objectives
- Funding Working Capital requirements of the Company.
- General Corporate purposes.
Strengths
- The company has an established client base and long-standing relationships with major corporate customers and retailers, providing a stable business foundation.
- It boasts design innovation and a diversified product portfolio of over 10,000 active SKUs, catering to a wide range of customer preferences.
- The integrated manufacturing facility with in-house designers and artisans ensures quality control and efficient production, with all its mangalsutras being BIS-hallmarked for purity.
- The business has shown continuously improving financial performance, with a 30% increase in revenue and a 96% increase in profit after tax (PAT) in FY25.
- Its B2B business model provides a more stable revenue stream compared to a purely retail-focused business, reducing market volatility.
Weaknesses
- The company is highly dependent on gold prices, which are subject to global fluctuations that can significantly impact its profitability and inventory value.
- The business is working capital intensive, with a significant portion of the IPO proceeds (₹280 crore) being used to meet these operational needs.
- The massive 96% increase in profit after tax in FY25 raises questions about its sustainability and may be seen as a one-off event rather than a long-term trend.
- The company faces intense competition in the highly fragmented gems and jewelry industry, which can lead to pricing pressures and affect profit margins.
- There are significant discrepancies in key financial metrics like P/E and RoNW, which could be a point of concern for investors during the valuation process.
Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 375.75 | 265 | 211.55 |
| Revenue (₹ Cr.) | 1,430.12 | 1,102.71 | 951.29 |
| PAT (₹ Cr.) | 61.11 | 31.11 | 23.36 |
| Net Worth (₹ Cr.) | 200.85 | 136.85 | 105.72 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Shringar House of Mangalsutra | 5.93 | 26.04 | 36.2% | 200.85 |
| Utssav CZ Gold Jewels | 3.38 | 17.12 | 19.76% | 35.22 |
| RBZ Jewellers | 2.23 | 14.85 | 15.83% | 245 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.01x | 0.86x | 101.41x |
| NII | 2.7x | 14.81x | 82.58x |
| S-HNI | 3.06x | 17.87x | 79.83x |
| B-HNI | 2.52x | 13.28x | 83.95x |
| RII | 2.84x | 9.65x | 27.26x |
| EMP | 8.99x | 24.07x | 69.81x |
| Total | 2.01x | 8.26x | 60.31x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 48,56,000 | 49,24,45,710 | 8,125.35 |
| NII | 36,42,000 | 30,07,42,380 | 4,962.25 |
| Small NII | 12,14,000 | 9,69,09,390 | 1,599 |
| Big NII | 24,28,000 | 20,38,32,990 | 3,363.24 |
| RII | 84,98,000 | 23,16,51,540 | 3,822.25 |
| EMP | 20,000 | 13,96,170 | 23.04 |
| Total | 1,70,16,000 | 1,02,62,35,800 | 16,932.89 |
Company Details
- Shringar House of Mangalsutra Ltd.
- Unit No. B-1, Lower Ground Floor, Jewel World (Cotton Exch Bldg), 175, Kalbadevi Rd, Bhuleshwar, Mumbai, Maharashtra-400002
- +91 90044 29107
- cs@shringar.ms
- https://www.shringar.ms/
Registrar Details
- MUFG Intime India Pvt.Ltd.
- +91-22-4918 6270
- shringarhouse.ipo@linkintime.co.in
- https://linkintime.co.in/Initial_Offer/public-issues.html