Shringar House of Mangalsutra IPO

The Shringar House of Mangalsutra IPO is a book-built fresh issue of approximately ₹400.95 crore(2.43 crore shares) without any offer-for-sale, meaning all the money raised will be used by the company and not by the shareholders. The price band for the issue has been fixed at ₹155–₹165 per share and the minimum bid lot is 90 equity shares. IPO subscription is available from 10th to 12th September 2025. The allotment of the IPO is likely on September 15, while the refund and demat credit are likely on September 16 and listing on NSE and BSE on September 17.

Company Background

Shringar House of Mangalsutra was established in 2009 and is based in Mumbai. It is a focused jewellery company that manufactures, designs and markets 18k and 22k gold mangalsutra offerings using stones like American diamonds, cubic zirconia, pearls, mother of pearl and semi-precious stones for its primarily B2B clientele throughout India and certain international locations. The brand highlights the heritage of mangalsutra making, works with in-house designers & skilled karigars and sells to corporates, wholesalers and retailers – all showcasing the brand's niche positioning as well as respect in a traditional yet evolving category.

Operations & Product Range

Facility & Production

All the frontend operations of Shringar House of Mangalsutra IPO are complemented by an in-house design team and a wide array of skilled karigars to support end-to-end design-to-finish production of mangalsutra lines. As of FY24, filings indicate a 12-member design team and 182 in-house karigars to support capacity and quality. The company has a near-Mumbai-based entity providing proximity to jewellery wholesale hubs and logistics networks. This production system operates in standardized SKUs and customized designs for 18k/22k gold with stones, such as American diamonds and cubic zirconia, on one hand and uses process discipline to deliver high volume orders to corporate and wholesale customers without compromising finishing quality.

Brands & Market Presence

Shringar House of Mangalsutra IPO has positioned itself as a specialist “House of Mangalsutra,” to focus on the B2B ecosystem & serving marquee clients such as Malabar Gold, Titan Company, GRT Jewellers, Reliance Retail, Joyalukkas India & Damas Jewellery (UAE). The company has strong penetration among wholesalers & independent retailers across India & exports to UK, New Zealand, UAE, USA & Fiji. The company has a sizeable market share in the organised mangalsutra category ( around 6% as of FY2023, supported by CARE Edge mentioned in draft papers) in a way that signifies category leadership backed by international sales to diaspora heavy regions, widening the diversity and reach for its designs.

Revenue Channels

• B2B sales to big jewellery chains, wholesalers and retail outlets form the core, which involves uniform SKUs and custom design.
• National presence (24 states and 4 UTs) with exports to the UK, USA, UAE, New Zealand, Fiji, mitigated revenue concentration risk across regions.
• With category specialization (mangalsutras) and a wide SKU range (10,000+ active SKUs; 15+ collections), mix, scale and repeat orders are supported.
• Financially, FY25 revenue stood at ₹1,429.8 crore, up 29.8% yoy (vs. 31.4% CAGR for FY19- FY25), with PAT at ₹61.1 crore, up 96.5% signaling operating leverage.

Management & Shareholding

Promoters & shareholding

Shringar was founded and managed by the Shringar House of Mangalsutra IPO promoter family, having deep roots in the goldsmith community and is a closely held business now going to public markets via a 100% fresh issue to fund growth. Although the company is maintaining its management continuity at the top and its domain knowledge at ground level, which hosts the design sensitivity and the closest held vendor network and most valued client network in the system of the jewelry business of Mumbai, nurtured over years of existence. There is no OFS means shareholders are not diluting through secondary sales, which generally shows a focus on capital infusion for working capital and capacity.

Board members

The Shringar House of Mangalsutra IPO has a professional board with Founder leadership, along with management team members leading production, design, sales & exports and capital market processing is driven by established public issue intermediaries, namely Choice Capital Advisors acting as the book-running lead manager and MUFG Intime India as registrar.