Shringar House of Mangalsutra Ltd (MAINBOARD)

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Shringar House of Mangalsutra

September 10, 2025 – September 12, 2025

Price ₹155 - ₹165
GMP Rumors * ₹29
Lot size 90
Allotment Sep 15, 2025
Listing Sep 17, 2025

DHRP/RHP
Anchor
* info is indicative, not an investment advice.

Shringar House of Mangalsutra Subscription

Last updated on 10-Sep-2025 16:14:07

CategoryOfferedAppliedTimes
QIBs4856000630900.01
HNIs364200085760102.35
 HNIs 10+242800052703102.17
 HNIs 2+121400033057002.72
Retail8498000222359402.62
Employees200001594807.97
Total17016000310345201.82
Application-Wise Breakup (Approx. no. of Apps)img
CategoryReservedAppliedTimes
HNIs (10L+)19278500.44
HNIs (2-10L)96325422.64
Retail944222165782.29
Employee-1529-
Total Applications: 221499
© IPO Premium
Subscription Demand (in ₹ crore)
CategoryOfferedDemandTimes
QIBs80.121.040.01
FIIs-0.02-
DIIs-0.02-
Mutual funds-0.02-
Others-0.98-
HNIs60.09141.52.35
HNIs 10+40.0686.962.17
HNIs 2+20.0354.542.72
Retail140.22366.892.62
Employees0.332.637.97
Total280.76512.071.82
QIB Interest Cost per share (7 Days)
@7%
₹0		@8%
₹0		@9%
₹0		@10%
₹0		@11%
₹0		@12%
₹0

Shringar House of Mangalsutra Lot(s) Distribution

Category Lot(s) Qty Amount Reserved
Retail 1 90 14850 94422
sHNI 14 1260 207900 963
bHNI 68 6120 1009800 1927

Shringar House of Mangalsutra Reservation

Category Shares Offered %
Anchor 7284000 29.98%
QIB 4856000 19.98%
HNI 3642000 14.99%
Retail 8498000 34.97%
Employee 20000 0.08%
Total 24300000 100%

Shringar House of Mangalsutra About

IPO Details
Total Issue Size2,43,00,000 shares aggregating up to 400.95 Cr

Fresh Issue

2,43,00,000 shares aggregating up to 400.95 Cr
Issue TypeBookbuilding IPO
Listing AtBSE, NSE
Share Holding Pre Issue7,21,32,080 shares
Share Holding Post Issue9,64,32,080 shares
Key Performance Indicator
KPIMar-25Mar-24Mar-23
ROCE32.43%21.52%19.46%
RONW36.20%25.65%24.84%
EPS
(basic)		8.574.393.29
P/E
Pre IPO		19.47
P/E
Post IPO		26.04
Company Financial (In ₹Crore)
Period EndedMar-25Mar-24Mar-23
Assets375.75265211.55
Total Income1,430.121,102.71951.29
Profit After Tax61.1131.1123.36
EBITDA92.6150.7638.89
Net Worth200.85136.85105.72
Reserves and Surplus123.72125.7294.62
Total Borrowing123.11110.0993.19
Peer Comparision (Valuation)
CompanyP/E (x)CMP*(₹)Face value (₹)
Shringar House of Mangalsutra Limited--10
Utssav CZ Gold Jewels Ltd16.85-10
RBZ Jewellers Ltd13.37-10
Sky Gold & Diamonds Ltd28.73-10
Source: All the financial information for listed industry peers mentioned above is on a consolidated basis (unless otherwise available only on standalone basis) and is sourced from the annual reports as available of the respective company for the year ended March 31, 2025 submitted to stock exchanges and prospectus available on public domain. The financial information of Company is based on the restated financial information for the year ended March 31 ,2025
Peer Comparison (Financial Performance)
CompanyNAV/Share (₹)RoNW (%)EPS (Basic) (₹)
Shringar House of Mangalsutra Limited27.8436.20%8.57
Utssav CZ Gold Jewels Ltd53.2330.94%11.63
RBZ Jewellers Ltd61.2617.15%9.7
Sky Gold & Diamonds Ltd46.6128.59%9.44
About Company

Business: Designs, manufactures, and markets Mangalsutras featuring American diamonds, cubic zirconia, pearls, and semi-precious stones, crafted in 18k and 22k gold.

Client Segments: Corporate clients, wholesale jewellers, and retailers across India.

Market Presence: Domestic presence in 24 states and 4 union territories; international presence in the UK, New Zealand, UAE, USA, and Fiji (expanded during FY23–FY25).

Key Clients: Malabar Gold Ltd., Titan Company Ltd., GRT Jewellers, Reliance Retail, Joyalukkas India, Damas Jewellery (UAE), among others.

Client Base (as of March 31, 2025): 34 corporate clients, 1,089 wholesalers, and 81 retailers.

Job Work: Manufactures Mangalsutras on job-work basis for corporate clients.

Bullion Processed: 1,320.72 kgs (FY25), 1,221.19 kgs (FY24), 870.26 kgs (FY23).

Revenue: ₹264.83 million (FY25), ₹193.24 million (FY24), ₹156.47 million (FY23).

Strength

Innovative Portfolio: The company offers over 15 collections and 10,000+ SKUs of Mangalsutras across traditional, bridal, contemporary, and customized designs.

Integrated Facility: An 8,300 sq. ft. manufacturing unit with 2,500 kg annual capacity enables efficient in-house production.

Quality Assurance: Each product carries HUID hallmarking with strict quality checks, ensuring authenticity and durability

Weakness

Dependence on Clients: A major share of revenue comes from corporate clients, wholesalers, and retailers, with no long-term contracts. Loss or cancellation of orders may impact business and cash flows.

High Working Capital Needs: The company requires significant working capital for growth, and inability to secure it on favorable terms could affect operations and financial stability.

Single Facility Risk: All operations rely on one manufacturing unit in Mumbai. Any slowdown, shutdown, or under-utilization could harm business and results.

Shringar House of Mangalsutra Lead Manager(s)

  1. Choice Capital Advisors Pvt Ltd

Shringar House of Mangalsutra Address

Shringar House of Mangalsutra Ltd.
Unit No. B-1, Lower Ground Floor
Jewel World (Cotton Exch Bldg),
175, Kalbadevi Rd, Bhuleshwar,
Mumbai, Maharashtra, 400002
Phone: +91 90044 29107
Email: cs@shringar.ms
Website: https://www.shringar.ms/

Shringar House of Mangalsutra Registrar

MUFG Intime India Private Limited - Link Intime
Address:

MUFG Intime India Private Limited (Link Intime)
Link Intime India Private Ltd
C 101, 247 Park,
L.B.S.Marg Vikhroli (West),
Mumbai - 400083