Shringar House of Mangalsutra IPO

About Shringar House of Mangalsutra IPO

A 100% book-built issue, the IPO of Shringar House of Mangalsutra Ltd comprises a fresh issue of up to 24,300,000 equity shares of face value of ₹10 each. There’s no offer for sale in this IPO. The price band is ₹155-₹165 per share and the lot size is 90. The IPO opens on September 10, 2025 and closes on September 12, 2025.

The listing date is on or about September 17, 2025 and the allotment date is on September 15, 2025. The credit of shares to the Demat account will take place on September 16, 2025, while the initiation of refund will take place on or before September 16, 2025.

Shringar House of Mangalsutra Ltd is engaged in designing, manufacturing, and marketing, a varied range of Mangalsutra studded with diverse range of stones including but not limited to, American diamond, cubic zirconia, pearl, mother of pearl, and semi-precious stones, in 18k and 22k purity of gold. The company is amongst the leading and specialised designers and manufacturers of Mangalsutra in India.

Objectives of Shringar House of Mangalsutra IPO

• Funding working capital requirements of the company

• General corporate purposes

Industry Outlook

The cultural and spiritual importance of the Mangalsutra profoundly impacts Hindu marriages. It symbolizes marital status and is esteemed as a sacred thread and extends the life of the spouse. This cultural relevance ensures that Mangalsutras are perpetually in demand across various Indian communities and regions. Its ritualistic value makes it an essential item for weddings, thereby maintaining a steady market demand.

In CY23, the Indian mangalsutra market reached ₹178 billion showing a y-o-y growth of ~16%. In CY24 the Indian mangalsutra market is expected to grow by 8% y-o-y to ₹192 billion. The market is expected to grow at a compounded annual growth rate (CAGR) of 5.8% in the next 10 years to Rs 303 billion in CY32.

The trend towards customisation and personalization is growing in the jewellery industry, including for Mangalsutras. Customers increasingly seek unique designs tailored to their tastes and preferences. Customisation options, which allow clients to choose specific patterns, designs, and materials, are becoming more popular among jewellers. This trend for personalised Mangalsutras meets the desire for distinctiveness and individual expression.

Company Information

Shringar House of Mangalsutra Ltd is amongst the leading and specialised designers and manufacturers of Mangalsutra in India. It’s engaged in designing, manufacturing, and marketing, a varied range of Mangalsutra studded with diverse range of stones including but not limited to, American diamond, cubic zirconia, pearl, mother of pearl, and semi-precious stones, in 18k and 22k purity of gold, to its business-to-business (“B2B”) clients

Strengths of Shringar House of Mangalsutra IPO

• Established client base and long-standing relationship with clients
• Design innovation and diversified product portfolio
• Integrated manufacturing facility
• Quality assurance and quality control of mangalsutras
• Continuously improving financial performance
• Experienced Promoters and a professional management team

Risks of Shringar House of Mangalsutra IPO

• Revenue concentration in mangalsutras with no long-term contracts with corporate clients
• Underutilisation of manufacturing capacities could impact operations
• Inability to meet working capital requirements may affect business
• Slowdown in manufacturing facility may adversely affect business
• Business concentration in the state of Maharashtra
• Inability to collect receivables and default in customer payment could adversely impact business

Anchor Investor Bidding Date

Anchor portion of the IPO will open for bidding on September 9, 2025.

IPO Registrar and Book Running Lead Manager

• IPO Registrar: MUFG Intime India Pvt Ltd
• Book Running Lead Manager: Choice Capital Advisors Pvt Ltd

Business Model

Shringar House of Mangalsutra Ltd offers a diverse range of Mangalsutras, including antique, bridal, traditional, contemporary, and Indo-western styles, across various price points. According to the CareEdge Report, customisation options, which allow clients to choose specific patterns, designs, and materials, are becoming more popular among jewellers.

This trend for personalised Mangalsutras meets the desire for distinctiveness and individual expression. In line with these trends, the product portfolio is designed to offer a variety of options, including, but not limited to, ring mangalsutras, bracelet mangalsutras, God edition mangalsutras, and divine mangalsutras.

Company Growth Trajectory

The revenue from operations of Shringar House of Mangalsutra Ltd grew from ₹950.217 crores in FY 23 to ₹1429.815 crores in FY 25, while EBITDA margin grew from 4.09% in FY 23 to 6.48% in FY 25. The company’s profit margin grew from 2.46% in FY 23 to 4.27% in FY 25. Established client base coupled with diversified product portfolio has helped the company grow over the years.

Market Position

Shringar House of Mangalsutra Ltd sells its products to a diverse range of clients including corporate clients, wholesale jewellers, and retailers across the country, more particularly in 24 states and 4 union territories. In addition to serving domestic clients, it also expanded its reach to international clients in the United Kingdom, New Zealand, UAE, USA and Republic of Fiji.

How to Check Allotment Status of Shringar House of Mangalsutra Ltd?

1. Visit the Registrar’s Website

Visit the official website of MUFG Intime India Private Ltd and choose ‘Public Issues’ from ‘Investor Services’ dropdown. Choose the company name from the ‘Select Company’ dropdown. Enter either your PAN, application number, DP client ID, etc and click on ‘Submit’ to check status.

2. Check on Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:

• Select 'Equity' from the dropdown menu
• Choose 'Shringar House of Mangalsutra Ltd' in the next dropdown
• Enter your application number
• Enter your PAN
• Click 'Search’ to know allotment status

3. Verify on the National Stock Exchange Website

The National Stock Exchange (NSE) has an IPO Bid Verification module. You can use it to check the status of Shringar House of Mangalsutra Ltd IPO. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'. On the NSE IPO Bid Verification page, enter:

• Application number
• PAN

Then click 'Submit' to know the allotment status.

How to Apply for Shringar House of Mangalsutra Ltd IPO?

• Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.