Shringar House of Mangalsutra IPO

 Shringar House of Mangalsutra IPO subscribed 2.01 times on Day 1

The Initial Public Offering of Shringar House of Mangalsutra Limited, a leading and specialised designers and manufacturers of Mangalsutra in India, was subscribed 2.01 times on the first day of bidding.

The issue received bids of 3,41,72,730 shares against the offered 1,70,16,000 equity shares, at a price band of ₹155-165, according to the data available on the stock exchanges.

Qualified Institutional Buyer Portion and Non-Institutional Investors Portion were subscribed 0.01 times and 2.70 times respectively, whereas Retail Portion was subscribed 2.83 times. Employee Portion was subscribed 8.99 times. The issue kicked off for subscription on Wednesday, September 10, 2025, and will close on Friday, September 12, 2025. 

A day before the opening of the issue, Shringar House of Mangalsutra raised Rs 120.19 crore from anchor investors. Some of the marquee institutions that participated in the anchor include Kotak Mahindra Life Insurance, Maybank Securities, Societe Generale, Plutus Investment Trust, North Star Opportunities Fund, Founders Collective, Mint Focused Growth Fund, Aidos India Fund, Rajasthan Global Securities, Sunrise Investment Trust, Astrone Capital, Jalan Chemical Industries, Shine Star Build and NAV Capital.

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.

The table below shows subscription data for all the categories of investors:

SHRINGAR HOUSE OF MANGALSUTRA LIMITED Last updated on 10 Sep 2025 | 05:00:00 PM Sr.No. Category No.of shares offered / reserved No. of shares bid for No. of times of total meant for the category 1 Qualified Institutional Buyers (QIBs) 48,56,000 64,350 0.01 1(a) Foreign Institutional Investors (FIIs) - 1,260 - 1(b) Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) - 1,260 - 1(c) Mutual Funds - 1,260 - 1(D) Others - 60,570 - 2 Non Institutional Investors(NIIS) 36,42,000 98,46,450 2.70 2.1 Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) 24,28,000 61,29,450 2.52 2.1(a) Corporates - 93,690 - 2.1(b) Individuals (Other than RIIs) - 59,01,300 - 2.1(c) Others - 1,34,460 - 2.2 Non Institutional Investors(Bid amount of more than Two Lakh Rupees and upto 10 lakh rupees) 12,14,000 37,17,000 3.06 2.2(a) Corporates - 9,360 - 2.2(b) Individuals (Other than RIIs) - 35,76,330 - 2.2(c) Others - 1,31,310 - 3 Retail Individual Investors (RIIs) 84,98,000 2,40,82,110 2.83 3(a) Cut Off - 1,95,06,060 - 3(b) Price Bids - 45,76,050 - 4 Employee Reserved 20,000 1,79,820 8.99 4(a) Employee (Cut off) - 1,54,530 - 4(b) Employee (Price) - 25,290 - 5 Reservation Portion Shareholder - - - 5(a) RPS (Cut off) - - - 5(b) RPS (Price) - - - Total 1,70,16,000 3,41,72,730 2.01