Shringar House of Mangalsutra Ltd Sets IPO with ₹401 Crore Target

Shringar House of Mangalsutra Ltd announces its IPO with a price band of ₹155-₹165 per share, aiming to raise ₹401 crore. The company, focused on B2B Mangalsutra sales, will use the funds for working capital and corporate needs. Revenue rose to ₹1,430 crore, with profits doubling in fiscal 2025.

Shringar House of Mangalsutra Ltd, a prominent jewellery firm based in Mumbai, has declared a price band of ₹155 to ₹165 per share for its imminent initial public offering (IPO), targeting a total raise of ₹401 crore. This fresh issue will open for bids between September 10 and 12, marking a pivotal moment for the company.

The public issue, consisting entirely of new equity shares, accounts for a cumulative 2.43 crore shares at the price band's ceiling. Proceeds are earmarked for bolstering the firm's working capital and addressing general corporate expenses. The IPO signifies Shringar's strategic move to advance its operational capabilities and market reach.

Founded in 2009, the company's impressive portfolio features intricately designed Mangalsutras set with an array of stones, including American diamonds and cubic zirconia, in 18k and 22k gold. Holding a notable 6% share in India's organised Mangalsutra market, and with doubled profits in fiscal 2025, the company is poised for growth. Choice Capital Advisors and MUFG Intime India are managing the IPO.

(With inputs from agencies.)