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Shringar House of Mangalsutra
59.90xsubscribed

Shringar House of Mangalsutra

Diamond & Jewellery
listed
₹13,950Min. investment

Shringar House of Mangalsutra Limited IPO Details

SectorDiamond & Jewellery
Price range₹155 – ₹165
IPO type
Regular
Lot size90 shares
Issue size₹400Cr
Red Herring Prospectus
Read
Market cap
₹1,591CrLower than sector avg
RevenueApr 2024 - Mar 2025
₹1,429CrLower than sector avg
Growth rate3Y CAGR
14.50%Higher than sector avg

Shringar House of Mangalsutra Subscription Status

Date
QIB
NII
Retail
Total
10-Sep-25
0.0 times (X)
1.34 times (X)
1.44 times (X)
1.01 times (X)
11-Sep-25
0.48X
14.46X
9.69X
8.24X
12-Sep-25
76.26X
80.22X
26.82X
59.9X

As on 10-Sep-25, 5:30 PM

Shringar House of Mangalsutra Timeline

  1. Pre-apply
    8 Sep 2025
  2. Bid start
    10 Sep 2025
  3. Bid end
    12 Sep 2025
  4. Allotment
    15 Sep 2025
  5. Release of funds
    16 Sep 2025
  6. Demat transfer
    16 Sep 2025
  7. Listing
    17 Sep 2025

About Shringar House of Mangalsutra Limited

Incorporated in 2009, Shringar House of Mangalsutra Limited is engaged in designing, manufacturing, and marketing of varied range of mangalsutras studded with diverse stones, including American diamond, cubic zirconia, pearl, mother of pearl, and semi-precious stones, in 18k and 22k purity of gold, serving B2B clients. It operates through an integrated manufacturing model, undertaking end-to-end operations from conceptualisation and design to manufacturing and selling products. The company contributed to around 6% of the organised mangalsutra market in India in CY23.
It offers an extensive portfolio of mangalsutras featuring over 15 collections and more than 10,000 active SKUs, designed to suit special occasions such as weddings, festivals, and anniversaries, as well as daily-wear options including antique, bridal, traditional, contemporary, and Indo-western styles. The company's product range includes specialised offerings like "ring Mangalsutras", "bracelet Mangalsutras", "God edition Mangalsutras", and "divine Mangalsutras". Their manufacturing facility is spread over 8,300 sq. ft. and has an installed manufacturing capacity of 2,500 kg per annum as of March 31, 2025.
The company serves a diverse client base, including corporate clients, wholesale jewellers, and retailers across 24 states and 4 UTs in India. As of March 31, 2025, it served 34 corporate clients, 1,089 wholesalers, and 81 retailers and also expanded internationally, serving clients in the United Kingdom, New Zealand, the UAE, the USA, and the Republic of Fiji during the last 3 fiscal years.
Some marquee domestic and international corporate clients include Malabar Gold Limited, Titan Company Limited, GRT Jewellers India Private Limited, Reliance Retail Limited, Novel Jewels Limited (Aditya Birla Group), Joyalukkas India Limited, P N Gadgil Jewellers Limited, and others. Malabar Gold Limited is their largest client, contributing 15.31% of revenue from operations in FY25. Domestic revenue constitutes the majority of operations at 98.59% of total revenue in FY25, while export revenue contributed 1.37%. Maharashtra is the largest revenue contributor, accounting for 49.50% of FY25 revenue, while corporate clients, retailers, and wholesalers contributed 33.99%, 54.47% and 11.50% of FY25 revenue, respectively.
India’s domestic jewellery market was valued at ₹4,976 billion in CY23 and is expected to nearly double to ₹11,044 billion by CY32 at an 8.8% CAGR. Regionally, demand is strongest in the South (41% share of jewellery demand), followed by West and Central India (24.6%). The biggest structural driver is the rebound and sustained growth of the wedding economy. Weddings in India surged to 115.5 lakh in CY23 and are projected to reach 180.8 lakh by CY32, growing at a 4.8% CAGR. Policy and trade trends also present medium-term opportunities. Gems & jewellery form ~7% of India’s exports, with the US and UAE being key markets. The CEPA agreement with the UAE has particularly boosted plain gold jewellery exports.
The company plans to establish a pan-India supply chain model through third-party intermediaries by entering into contracts with reputable facilitators to expand into untapped domestic markets. They have identified 42 cities nationwide and entered into arrangements with 11 third-party facilitators to represent them in approaching both existing and potential clients.
Now, Shringar House of Mangalsutra Ltd is launching its initial public offering (IPO), which consists of a fresh issue worth up to ₹400.95 crore. The total issue size of the IPO is ₹400.95 crore. Its shares will be listed on the NSE and BSE.

Shringar House Of Mangalsutra Limited IPO Analysis

IPO REVIEW

Shringar House of Mangalsutra | Analysis Video

Should you apply?

Watch our analysts break down the Shringar House Of Mangalsutra Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

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Revenue growth
Company valuation
Earnings expansion
Risk analysis
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Strength and Weakness

Established client base

The company has over 15 years of operational experience, serving corporate clients, wholesalers, and retailers across 24 states and 4 union territories, along with international clients in the UK, USA, UAE, New Zealand, and Fiji. Its strong associations with reputed names like Malabar Gold, Titan, Reliance Retail, and Joyalukkas provide revenue visibility, industry goodwill, and sustained business growth.

Design innovation and diversified product portfolio

The company offers 15+ collections and 10,000 SKUs, ranging from antique, bridal, traditional, and contemporary styles to unique variants like bracelet and ring Mangalsutras. With a dedicated in-house design team, 166 Karigars, and external collaborators, it continuously innovates to meet diverse tastes, evolving lifestyles, and demographic preferences.

Integrated manufacturing facility

Its 8,300 sq ft manufacturing facility, with an installed capacity of 2,500 kg annually, enables end-to-end production of Mangalsutras. The company combines advanced technology, including CNC machines, laser soldering, and 3D printing, with artisanal expertise from 166 in-house Karigars to deliver precision, intricate designs, and high-quality products.

Quality assurance and control

The company ensures quality and authenticity through multi-stage checks, use of XRF machines and steel pin detectors, and HUID hallmarking by accredited agencies. Its comprehensive testing and inspection processes reinforce client trust and brand reliability, ensuring consistent delivery of high-purity Mangalsutras.

Objectives of Shringar House Of Mangalsutra Limited IPO

Working capital
69.83%
The company will utilise ₹280 crore towards the working capital of the business.
General corporate purposes
30.20%
Part of the IPO proceeds will be used for general corporate purposes.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹1,429Cr14.50%₹61.1Cr₹1,591Cr18.860.61
This sector (avg.)₹7,172.77Cr0.03%₹66.45Cr₹7,398.94Cr45.820.57
₹60,456Cr---₹3,337Cr₹3,52,813.4Cr85.471.79
₹25,045.07Cr---₹714.17Cr₹37,346.24Cr40.101.03
₹4,910.58Cr---₹118.71Cr₹10,321.1Cr42.340.72

*Revenue for financial year 2024-25. Lower P/E and D/E ratios are generally preferred.

Shringar House of Mangalsutra Contact Details

Company NameShringar House of Mangalsutra Limited

How to apply for Shringar House of Mangalsutra?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Shringar House Of Mangalsutra Limited IPO FAQs

Investors can apply for the Shringar House of Mangalsutra through their Demat account via the stock exchange or through their broker.
The issue size of the Shringar House of Mangalsutra is 400 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Shringar House of Mangalsutra will be open between 2025-09-10 and 2025-09-12.
Shringar House of Mangalsutra allotment date is 2025-09-16. For Shringar House of Mangalsutra allotment status check, you can visit the website of the registrar of the IPO.
For Shringar House of Mangalsutra, the IPO registrar is MUFG Intime India Private Limited. You can check Shringar House of Mangalsutra allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Shringar House of Mangalsutra shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Shringar House of Mangalsutra lot size is 90 and minimum order quantity is 90.
Shringar House of Mangalsutra has set the price band for its IPO at 165 per equity share with a face value of 10.