Shringar House of Mangalsutra IPO Details

The jewellery market just got more exciting! Shringar House of Mangalsutra Ltd., known for its beautifully crafted mangalsutras, has made a sparkling debut in the IPO space. In this blog, I’ll walk you through the key details, what makes this offering stand out, and how JM Financial Services can guide you through this journey.

IPO Snapshot: Quick Facts at a Glance

Detail	Information
Issue Size	Approx ₹400.95 crore (fresh issue)
Price Band	₹155–₹165 per share
Shares Offered	2.43 crore equity shares (100% fresh issue)
Lot Size	90 shares (~₹14,850 at upper band)
Listing Dates	Subscription: Sept 10–12, 2025

Shringar House of Mangalsutra IPO Lot Size

Investors can bid for a minimum of 90 shares and in multiples thereof.  The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (Min)	1	90	₹14,850
Retail (Max)	13	1,170	₹1,93,050
S-HNI (Min)	14	1,260	₹2,07,900
S-HNI (Max)	67	6,030	₹9,94,950
B-HNI (Min)	68	6,120	₹10,09,800

 

What’s Behind the Brand?

• Founded in 2009, Shringar specializes in mangalsutras, offering over 10,000 SKUs across 15 collections.
• It serves 34 corporate clients, 1,089 wholesalers, 81 retailers, and exports to the UK, USA, UAE, New Zealand, and Fiji.
• FY25 Highlights:
  • Revenue: ₹1,429.8 crore (up ~29.8%)
  • Net profit: ₹61.1 crore (up ~96.5%).

Company Financials

Shringar House of Mangalsutra Ltd.'s revenue increased by 30% and profit after tax (PAT) rose by 96% between the financial year ending with March 31, 2025 and March 31, 2024.

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	375.75	265.00	211.55
Total Income	1,430.12	1,102.71	951.29
Profit After Tax	61.11	31.11	23.36
EBITDA	92.61	50.76	38.89
Net Worth	200.85	136.85	105.72
Reserves and Surplus	123.72	125.72	94.62
Total Borrowing	123.11	110.09	93.19
Amount in ₹ Crore

Objects of the Issue 

The Company Shringar House of Mangalsutra IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

S.No.	Objects of the Issue	Expected Amount (₹ in crores)
1	Funding Working Capital requirements of the Company	280.00

Market Buzz: Anchor Support & GMP

• Raised ₹120 crore anchor round at ₹165/share with participation from Kotak Mahindra Life, Societe Generale, Maybank Securities, and more.
• Strong initial demand reflected in a Day 1 GMP of ~16%, suggesting a possible 16% listing gain
• Day 1 subscriptions exceeded 2×, especially high interest from retail investors

Strengths & Potential Challenges

Strengths:

• Integrated manufacturing with design and production under one roof ensures control on quality and efficiency.
• Proven financial momentum and profitable operations make it a standout in the jewellery space.
• A strong client base includes household names like Titan, Reliance Retail, and Joyalukkas.

Risks:

• Capacity under-utilisation—at 66–70% the past few years—can limit profit leverage
• Heavy reliance on a single manufacturing facility in Mumbai poses geographic risk
• Product concentration—all revenue from mangalsutras—is inherently risky if demand dips
• Seasonal jewellery buying and discretionary nature of demand could dampen performance.

How to Apply for the IPO :-

You can apply for this IPO by opening a free demat account with JM Financial Services  which offers strong benefits to investors as follows:

• Expert advisory:- Understand valuation, risk vs reward, and alignment with financial goals.
• Seamless digital tools:- For IPO subscriptions, tracking allotment, and listing updates.
• Holistic guidance :- Blend IPO exposure with diversified options like mutual funds, ETFs, and equity portfolios for balanced investing.

 

FAQs:-

1. Can retail investors apply?
Absolutely! The IPO is open to all. One lot of 90 shares (~₹14,850) qualifies for retail subscriptions.

2. Are there employee benefits?
Yes, a portion (up to 20,000 shares) is reserved for eligible employees, often at a discount.

3. What will the IPO proceeds be used for?
₹280 crore for working capital, with the rest for general corporate use.

4. When can I expect listing and allotment?
Subscription window: Sept 10–12; allotment around Sept 15; listing on BSE & NSE by Sept 17

5. Is a key listing pop expected?
Yes—the ~16% GMP suggests potential listing gains for early subscribers.