Shringar House of Mangalsutra Sets IPO Price Band at ₹155–₹165, Targets ₹401 Crore Raise

Shringar House of Mangalsutra Ltd, a leading B2B gold jewellery manufacturer specializing in mangalsutras, has officially announced the price band for its upcoming Initial Public Offering (IPO. The price range has been set at ₹155 to ₹165 per equity share, with the public issue scheduled to open for subscription from September 10 to September 12, 2025. The IPO is entirely a fresh issue of 2.43 crore equity shares, aiming to raise ₹401 crore at the upper end of the band2.

Key Highlights

IPO Price Band: ₹155–₹165 per equity share of face value ₹10

Issue Size: ₹401 crore through a fresh issue of 2.43 crore shares

Subscription Window: Opens September 10, closes September 12, 2025

Listing Date: Tentatively set for September 17 on BSE and NSE

Lot Size: 90 shares per lot; minimum investment ₹14,850 for retail investors

Employee Reservation: Up to 20,000 shares with a ₹15 discount per share

The IPO has allocated not more than 50% of the issue for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and at least 35% for retail investors. Anchor investor allocation is scheduled for September 9, with allotment finalization expected by September 152.

Shringar House of Mangalsutra, founded in 2009, designs and manufactures mangalsutras in 18k and 22k gold, adorned with American diamonds, cubic zirconia, pearls, and semi-precious stones. The company serves a robust B2B clientele including Titan Company, Malabar Gold, Reliance Retail, Novel Jewels (Aditya Birla Group), Joyalukkas, P N Gadgil, and Vaibhav Jewellers3.

As of March 2025, the company catered to 34 corporate clients, 1,089 wholesalers, and 81 retailers. Its revenue from operations rose to ₹1,430 crore in FY25 from ₹1,101 crore in FY24, while profit after tax surged to ₹61 crore from ₹31 crore.

The IPO proceeds will be used primarily to meet working capital requirements and for general corporate purposes. Choice Capital Advisors Pvt. Ltd is the book-running lead manager, and MUFG Intime India Pvt. Ltd is the registrar for the issue.

Sources: Livemint IPO Coverage Chittorgarh IPO Dashboard Moneycontrol IPO Announcement