Shringar House of Mangalsutra eyes Rs 401 cr via IPO; sets price band at Rs 155-165/share

New Delhi: Jewellery firm Shringar House of Mangalsutra Ltd on Wednesday announced a price band of Rs 155 to Rs 165 per share for its Rs 401-crore initial share sale.

The company's maiden public offering will be available for subscription during September 10-12, according to its public announcement.

The Mumbai-based company's IPO is entirely a fresh issue of 2.43 crore equity shares, worth Rs 401 crore at the upper end of the price band, with no Offer For Sale (OFS) component.

Proceeds from the fresh issue will be utilised for supporting working capital requirements of the company and general corporate purposes.

Incorporated in 2009, Shringar House of Mangalsutra is engaged in designing, manufacturing, and marketing a diverse range of Mangalsutras adorned with various stones such as American diamonds, cubic zirconia, pearls, mother of pearl, and semi-precious stones, crafted in 18k and 22k gold.

The company primarily serves its Business-to-Business (B2B) clients and holds about 6 per cent of the organised Mangalsutra market in India as of 2023, the draft papers cited CareEdge report.

Shringar House of Mangalsutra's revenue from operations increased to Rs 1,430 crore in fiscal 2025 from Rs 1,101 crore in the preceding fiscal, and profit after tax rose to Rs 61 crore from Rs 31 crore during the period.

Choice Capital Advisors is the sole book-running lead manager, and MUFG Intime India is the registrar of the issue.