Shringar House of Mangalsutra IPO: Issue Booked Over 50x So Far On Day 3, GMP surges

Shringar House of Mangalsutra’s Rs 401-crore initial public offering (IPO) is receiving strong demand from investors across categories. On the third and final day of bidding, the public issue has been subscribed over 49.96 times the shares on offer.

As of 3:27 PM, qualified institutional buyer (QIB) quota saw 71.93 times subscription, the non-institutional investor (NII) category received 79.13 times bidding, and the retail investor portion was booked 24.76 times so far. Employee quota was booked 59.36 times and the shareholder quota so far received nil subscription.

Shringar House of Mangalsutra IPO GMP Today

According to several websites that track grey market premiums (GMPs) of unlisted shares of IPO-bound companies, Shringar House of Mangalsutra IPO is commanding a GMP of Rs 32 over the issue price. The public issue is being offered at Rs 155-165 per share. At the upper price band, the expected listing price of Shringar House of Mangalsutra IPO comes at Rs 197 per share, a premium of 19.40 per cent.

Shringar House of Mangalsutra IPO GMP has surged from Rs 20 on September 6 to Rs 32 on September 12, 2025, a surge of 60 per cent.

Shringar House of Mangalsutra IPO Key Details

Shringar House of Mangalsutra opened as a fully fresh issue of 24.30 million equity shares. The issue is being offered in lots of 90 shares, translating into a minimum investment of Rs 14,850 for retail investors. The company will finalise the basis of allotment on September 15, and list its shares on the bourses on September 17.

Choice Capital Advisors is the book-running lead manager to the issue and MUFG Intime India is acting as the registrar.

Shringar House of Mangalsutra IPO Objective

Shringar House of Mangalsutra plans to use the net proceeds from the IPO for working capital requirements and general corporate purposes. Of the Rs 401 crore net proceeds, Rs 280 crore will be allocated towards working capital requirements, and the rest will be for general corporate purposes, the company stated in its red herring prospectus (RHP).

About Shringar House of Mangalsutra

Shringar House of Mangalsutra, as the name suggests, sells mangalsutras, a sacred necklace worn by married Hindu women. According to its RHP, the company commands about 6 per cent of India’s organised mangalsutra market. The company makes 18k and 22k gold mangalsutras studded with American diamonds, cubic zirconia, pearls and semi-precious stones. It sells across 24 states and four Union Territories, and exports to the UK, New Zealand, the UAE, the US and Fiji.

Its client list includes Malabar Gold, Titan, GRT Jewellers, Reliance Retail, Novel Jewels of Aditya Birla, Joyalukkas and PN Gadgil. As of March 2025, the company catered to 34 corporate clients, 1,089 wholesalers and 81 retailers.

Retailers contributed the largest share of revenue, about 54.47 percent in FY25. Corporate clients accounted for 33.99 percent in FY25.