Shringar House of Mangalsutra, a top jewellery designer and manufacturer of high-end mangalsutras in India, has finalised the allotment of its initial public offering (IPO) today i.e. September 15, 2025. The IPO of the company ended on September 12, and has received massive response and ranked among the most successful IPOs this year in the jewellery sector. Shares of the company will be listed on BSE and NSE on SME platform at an approximate date of September 17, 2025.
IPO Subscription and Allotment Details
Size of issue in Shringar House of Mangalsutra IPO was ₹400.95 crore with fresh issue of 2.43 crore equity shares at a price band of ₹155 to ₹165 per share. The IPO received a whopping oversubscription of more than 60 times in total. In terms of categories, Qualified Institutional Buyers (QIB) segment was subscribed 101.41 times, Non-Institutional Investors (NII) 82.58 times, and Retail Individual Investors (RII) 27.26 times, indicating robust interest from all investor categories. The smallest lot size available for investment was 90 shares, worth ₹14,850 at the higher price band.
Business Overview and Financials
Started in 2009 with its headquarters based in Mumbai, Shringar House of Mangalsutra holds around 6% market share in India’s organised mangalsutra market. The company deals in producing conventional gold necklaces set with American diamonds, pearls, cubic zirconia, and semi-precious stones in 18 carat as well as 22 carat gold. It displays a vast product range with over 15 collections and over 10,000 SKUs supported by an in-house production facility.
Financially, the company posted good growth with revenue growing 30% from ₹1,102.71 crore in FY24 to ₹1,430.12 crore in FY25. Profit after tax almost doubled from ₹31.11 crore to ₹61.11 crore in the same period, reflecting good profitability and operating efficiency.
Experts’ Opinion and Market Outlook
Market experts and industry observers see the Shringar House IPO in a positive light, attributing its solid market presence, credible client fraternity, and stable financial track record. The support of a well-respected management team, quality and innovation focus, and growing distribution network offer a competitive advantage.
Analysts point out that the surging Indian bridal jewellery sector and growing customer demand for high-end mangalsutras drive growth. They also warn investors about threats such as concentration risks related to a single production unit and dependence on working capital.
The Grey Market Premium (GMP) of Shringar House IPO is around ₹31, reflecting healthy market mood and anticipation of a listing return of around 18-20% over the price band of the IPO.
Use of IPO Proceeds and Future Growth
The IPO proceeds, net of issue expenses, will be used largely for working capital needs and general corporate purposes. The company aims to use its leadership in the market to increase range in the premium mangalsutra segment and increase geographical reach to drive growth in the competitive jewellery market over the long term.
Nutshell
Shringar House of Mangalsutra’s IPO allotment after the end of a well-subscribed issue that reveals positive investor sentiment in the company’s business model and growth prospects. Although experts are still optimistic about long-term value, investors need to consider the existing risks and enter the IPO with a medium to long-term investment for possible benefits.
