Shringar House of Mangalsutra IPO GMP Hints At Decent Gains On First Day Of Bidding - Check Price Band, Subscription Update

Shringar House of Mangalsutra IPO GMP: Shringar House of Mangalsutra IPO (Shringar House of Mangalsutra Ltd) subscription window opened today, on September 10. The Mumbai-based company’s public issue is witnessing strong demand on the first day of bidding. The issue has been subscribed fully on the first day of bidding.

Shringar House of Mangalsutra Subscription Update

The jewellery maker’s issue has been booked fully across categories on the first day of bidding. The Mumbai based company’s issue has received bids for over 20.32 million shares so far, compared to the 1.7 million shares offered for subscription.

The jewellery maker’s issue has been booked 1.44 times in the retail individual investors category so far. Retail investors applied for more than 12.25 million shares compared to the 8.49 million shares reserved for the category.

Non-Institutional Investors (NIIs) applied for over 3.8 million shares against the 3.64 million shares set aside for them. The mainboard issue was booked 1.05 times in the NII category. Qualified institutional Buyers (QIBs) placed bids for more than 1,260 shares on the first day of bidding against the 4.85 million shares set aside for the category. Employees of the company booked their quota in the Shringar House of Mangalsutra IPO, 5.01 times, as they applied for 1 million shares compared to the 20,000 shares offered for bidding.

Shringar House of Mangalsutra IPO: GMP

The grey market premium for Shringar House of Mangalsutra shares is ranging between Rs 30 and Rs 31 as per the many websites which monitor the activity of unlisted shares. At the current GMP of Rs 31, the jewellery designer’s stock is likely to make a robust debut with a premium of over 18 per cent at Rs 196 per share.

Shringar House of Mangalsutra IPO: Offer Size and Price Band

Shringar House of Mangalsutra aims to raise Rs 400.95 crore through its public issue, which consists of a fresh issuance of 24.3 million shares. Shringar House of Mangalsutra IPO price band has been set at Rs 155 to Rs 165 per share.

Shringar House of Mangalsutra IPO: Lot Size and Minimum Investment

Retail investors interested in applying for Shringar House of Mangalsutra IPO can place bids for a minimum of 90 shares which aggregates to an investment of Rs 14,850. Small Non-Institutional Investors (sNIIs) can apply for the issue by bidding for a minimum of 14 lots amounting to an investment of at least Rs 2,07,900.

Shringar House of Mangalsutra IPO: Subscription window, listing date, allotment date

Shringar House of Mangalsutra IPO subscription window opened on September 10. Shringar House of Mangalsutra IPO is scheduled to close for bidding on September 12. Shringar House of Mangalsutra IPO basis of allotment will be announced on September 15.

Post the announcement of the share allotment status of Shringar House of Mangalsutra IPO, unsuccessful bidders will receive refunds on September 16. Shringar House of Mangalsutra’s shares will be listed on the NSE and BSE. The tentative listing date for Shringar House of Mangalsutra Limited’s shares is September 17.

Shringar House of Mangalsutra: Key financials

Shringar House of Mangalsutra’s total income for FY25 stood at Rs 1430.12 crore, increasing by over 29 per cent from Rs 1102.71 crore in FY24. The jewellery maker’s net profit for FY25 stood at Rs 61.11crore, growing by 96 per cent compared to a net profit of Rs 31.11 crore in FY24.

Shringar House of Mangalsutra IPO: Registrar

Choice Capital Advisors Pvt.Ltd is the book running lead manager for the jewellery maker’s issue, and MUFG Intime India Pvt.Ltd has been appointed as the registrar for the jewellery maker’s issue.

Shringar House of Mangalsutra: Promoters

Chetan N Thadeshwar, Mamta C Thadeshwar, Viraj C Thadeshwar and Balraj C Thadeshwar are among the jewellery makers’ promoters. The promoters of the company presently hold 100 per cent stake in the company.

Shringar House of Mangalsutra IPO: Objective

Shringar House of Mangalsutra aims to use as much as Rs 280 crore out of the total funds raised via the public issue for funding its working capital needs.

About Shringar House of Mangalsutra Ltd

Shringar House of Mangalsutra Ltd is engaged in designing, crafting and marketing a collection of jewellery especially wedding jewellery (Mangalsutra) for other jewellery retailers.