Shringar House of Mangalsutra Ltd IPO

We are amongst the leading and specialised designers and manufacturers of Mangalsutra in India. (Source: CareEdge Report). We are engaged in designing, manufacturing, and marketing, a varied range of Mangalsutra studded with diverse range of stones including but not limited to, American diamond, cubic zirconia, pearl, mother of pearl, and semi-precious stones, in 18k and 22k purity of gold, to our business-to-business (B2B) clients. Mangalsutra is a traditional necklace, crafted from gold and black beads worn by married Indian women which symbolizes marital status and is esteemed as a sacred thread that is believed to bless and extend the life of the spouse. Our Company contributed to around 6% of organized Mangalsutra market in India in CY23.

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50years

Shringar House of Mangalsutra Ltd IPO Details

Details

Total Shares OfferedOffer to PublicRetail Max (Shares)Pre Issue Promoters HoldingExchangeIssue size
₹ 243 LTBATBA₹ 721.31 LBSE₹ 400.95 Cr
IPO Open DateClose DateLot SizeMin InvestmentIssue TypeListing Date
10 Sep, 2512 Sep, 2590 ₹ 13,950 Book Building17 Sep, 25

Shringar House of Mangalsutra Ltd IPO Dates

  • 10 Sep 2025

    Opening date

  • 12 Sep 2025

    Closing date

  • 15 Sep 2025

    Basis of
    Allotment

  • 16 Sep 2025

    Initiation of
    Refunds

  • 16 Sep 2025

    Credit of
    Shares

  • 17 Sep 2025

    Listing date

Details

SectorType
SectorDiamond Cutting
Sub SectorJewellery
Issue TypeBook Building

Subscription Status

*Values are in Lakhs

Investor TypeSubscription TimesShares Offered*Shares Bid*
QIB0x00
NII0x00
Retail0x00
Employee0x00
Total0x243000000

Subscription Status

Investor Type

QIB

NII

Retail

Employee

Total

*Values are in Lakhs

Shringar House of Mangalsutra Ltd Financial Status

Income Statement

Balance Sheet

Particulars (in Rs. Crores)FY23FY22FY21
Revenue from operations44.7233.2627.95
EBITDA47.2835.0928.58
PAT31.1123.3620.27
Total Assets209.87159.10144.22
Share Capital8.9617.5317.53
Total Borrowings96.8971.1573.25
Operating Activities (Net Cash)33.6725.1920.90
Investing Activities (Net Cash)0.000.000.00
Financing Activities (Net Cash)96.8971.1573.25
Net Cashflow3.856.455.23

Particulars (in Rs. Crores)

Revenue from operations

EBITDA

PAT

Total Assets

Share Capital

Total Borrowings

Operating Activities (Net Cash)

Investing Activities (Net Cash)

Financing Activities (Net Cash)

Net Cashflow

About Shringar House of Mangalsutra Ltd

Our Company was originally incorporated as `Shringar House of Mangalsutra Private Limited', a private limited company under the erstwhile Companies Act, 1956 at Mumbai, Maharashtra, pursuant to a certificate of incorporation dated January 02, 2009, issued by the Registrar of Companies, Maharashtra at Mumbai (RoC). Thereafter, our Company was converted into a public limited company pursuant to a special resolution passed by our Shareholders as on November 30, 2024 and consequently, the name of our Company was changed to `Shringar House of Mangalsutra Limited'. A fresh certificate of change of name, consequent upon conversion to a public limited company was issued by registrar of companies, central processing centre, Manesar, Haryana on December 11, 2024.

In CY23, the Indian mangalsutra market reached Rs. 178 billion showing a y-o-y growth of ~16%. In CY24 the Indian mangalsutra market is expected to grow by 8% y-o-y to Rs.192 billion. The market is expected to grow at a compounded annual growth rate (CAGR) of 5.8% in the next 10 years to Rs 303 billion in CY32. The Mangalsutra, a symbol of marriage, is traditionally made from gold to align with these customs. Gold is chosen for Mangalsutras due to its association with wealth, purity, and divine blessings, which helps preserve the tradition across generations. The surge in weddings is also driving growth in the jewellery industry, as bridal jewellery purchases increase with each wedding. Mangalsutra is a vital part of Indian weddings. Mangalsutras in India are designed in numerous styles and patterns to reflect local customs and preferences. For instance, the Maharashtrian Mangalsutra differs significantly from those in North or South India. This diversity creates a large market for varied styles, allowing jewellers to cater to regional preferences. The trend towards customization and personalization is growing in the jewellery industry, including for Mangalsutras. Customers increasingly seek unique designs tailored to their tastes and preferences. This trend for personalized Mangalsutras meets the desire for distinctiveness and individual expression. Hence in long term the market for mangal sutra is expected to remain healthy. (Source: CareEdge Report). We face competition from both the organized and unorganised sectors of the jewellery manufacturing and supply business and there are also several producers of varying size manufacturing certain of the products that we sell, in various geographical markets. Listed players competing with us in the industry include RBZ Jewellers Limited, Utssav CZ Gold Jewels Limited and Sky Gold & Diamonds Limited.

We are amongst the leading and specialised designers and manufacturers of Mangalsutra in India. (Source: CareEdge Report). We are engaged in designing, manufacturing, and marketing, a varied range of Mangalsutra studded with diverse range of stones including but not limited to, American diamond, cubic zirconia, pearl, mother of pearl, and semi-precious stones, in 18k and 22k purity of gold, to our business-to-business (B2B) clients. Mangalsutra is a traditional necklace, crafted from gold and black beads worn by married Indian women which symbolizes marital status and is esteemed as a sacred thread that is believed to bless and extend the life of the spouse. Our Company contributed to around 6% of organized Mangalsutra market in India in CY23.

Peer Comparison:

  • Utssav CZ Gold Jewels Ltd
  • RBZ Jewellers Ltd
  • Sky Gold & Diamonds Ltd

Shringar House of Mangalsutra Ltd IPO Key Points

Strengths

  • Established client base and long-standing relationship with our clients. We supply and/or our products to a diverse range of clients including Corporate Clients,
  • Design innovation and diversified product portfolio.
  • Integrated Manufacturing Facility setup under one roof equipped to produce variety of Mangalsutras.
  • Quality control and quality assurance for manufacturing of Mangalsutras.
  • Proven track record of growth in financial performance.

Risk

  • We derive a significant portion of our revenue from operations from the sale of our Mangalsutras to our Corporate Clients (33.99%, 31.78% and 30.18% in Fiscal 2025, Fiscal 2024 and Fiscal 2023), retailers (54.47%, 54.13% and 52.46% in Fiscal 2025, Fiscal 2024, and Fiscal 2023) and wholesalers (11.50%, 14.04% and 17.31% in Fiscal 2025, Fiscal 2024, and Fiscal 2023) and we do not have long term contracts with any of these clients. Loss of any of these clients, or the cancellation of their purchase orders, could adversely affect our business, cash flows, financial condition, and overall results of operations.
  • During Fiscal 2025, Fiscal 2024 and Fiscal 2023, the actual capacity utilisation was 69.00%, 70.00% and 66.80%, respectively of total installed capacity Under-utilisation of our manufacturing capacities and an inability to effectively utilise our expanded manufacturing capacities could have an adverse effect on our business, future prospects and future financial performance.
  • Our Company requires significant amount of working capital for continued growth. We intend to utilise Rs.2,800.00 million from the total Net Proceeds towards funding our working capital requirements, and the proposed deployment of Net Proceeds in Fiscal 2026 is based on certain assumptions and management estimations. Our inability to meet our working capital requirements, on commercially acceptable terms, may have an adverse impact on our business, financial condition and results of operations.

Strategy

  • Establish a supply chain network to reach untapped geographical regions.
  • Grow our relationships with the existing clients and participate in their future expansions.
  • Continue to invest in our marketing and brand building initiatives.
  • Augment our fund based capacities in order to scale up business operations.
  • Continuing focus on reducing operating costs and improving operational efficiency.
  • Established client base and long-standing relationship with our clients. We supply and/or our products to a diverse range of clients including Corporate Clients,
  • Design innovation and diversified product portfolio.
  • Integrated Manufacturing Facility setup under one roof equipped to produce variety of Mangalsutras.
  • Quality control and quality assurance for manufacturing of Mangalsutras.
  • Proven track record of growth in financial performance.

How To Apply for Shringar House of Mangalsutra Ltd IPO Online?

Step 1:

Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.

Step 2:

From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

Get your FAQs right

Shringar House of Mangalsutra Ltd's IPO offers shares for up to ₹ 0 L It begins on Sep 10, 2025 and ends on Sep 12, 2025.

The price of Shringar House of Mangalsutra Ltd IPO ranges between ₹155 to ₹165 per share.

The Shringar House of Mangalsutra Ltd IPO opens on Sep 10, 2025 and closes on Sep 12, 2025.

The allotment for the Shringar House of Mangalsutra Ltd IPO will be finalised on Sep 15, 2025. The shares will be listed on BSE and NSE on Sep 17, 2025.

The minimum lot size for Shringar House of Mangalsutra Ltd IPO is 90 shares, priced between ₹155 to ₹165 per share.

The GMP (Grey Market Premium) of Shringar House of Mangalsutra Ltd IPO fluctuates based on market demand and sentiment.

To check the allotment status of Shringar House of Mangalsutra Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

The Shringar House of Mangalsutra Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Sep 10, 2025, and closes on Sep 12, 2025. The allotment is finalised on Sep 15, 2025.

To apply for the Shringar House of Mangalsutra Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.