Shringar House of Mangalsutra IPO opens September 10: A look at price band, lot size, key dates and more

Shringar House of Mangalsutra IPO will hit the primary market on September 10. The initial public offering will conclude on September 12. It has set a price band of ₹155 to ₹165 per share.

The initial share sale is purely a fresh issuance of 24,300,000 equity shares aggregating to ₹400.95 crore. There is no offer for sale (OFS) component.

The net proceeds will be utilised for funding working capital requirements of the company and general corporate purposes.

The company, as per its red herring prospectus, also believes that listing shares on stock exchanges will significantly improve its corporate image and increase the visibility of its brand. It also expects to get benefits associated with being listed, like improved access to capital markets and increased credibility with stakeholders.

Shringar House of Mangalsutra IPO lot size

A lot consists of 90 shares and in multiples thereafter. The company has set aside half of the net issue for qualified institutional buyers, 35% for retail individual investors and the remaining 15% for non-institutional investors.

Shringar House of Mangalsutra IPO timeline: Allotment and listing dates

Choice Capital Advisors Private Limited is the IPO's book-running lead manager, while MUFG Intime India Private Limited is the registrar.

About Shringar House of Mangalsutra

Shringar House of Mangalsutra is amongst the leading and specialised designers and manufacturers of Mangalsutra in India.

It designs, manufactures, and markets an array of Mangalsutra studded with a diverse range of stones, including American diamond, pearl, mother of pearl, cubic zirconia, and semi-precious stones, in 18k and 22k purity of gold, to its business-to-business clients.

The company's products are sold to clients, including those in corporate, wholesale jewellers, and retailers across the domestic market, particularly in 24 states and four union territories. It has also expanded its reach to international clients in New Zealand, the United Kingdom, the UAE, the Republic of Fiji, and the USA during the fiscal years 2025, 2024, and 2023.