Shringar House of Mangalsutra IPO Subscribed More Than 3 Times On Second Day Of Bidding - Know Key Details

Shringar House of Mangalsutra IPO (Shringar House of Mangalsutra Ltd) continued to see strong investor demand on the second day of bidding. The Mumbai-based company's issue has been oversubscribed more than 3 times across categories at the time of writing.

Shringar House of Mangalsutra IPO: Subscription Update

The jewellery designer's issue has received bids for over 5.22 crore shares so far, compared to the 17.01 million shares offered for subscription. Shringar House of Mangalsutra IPO has been oversubscribed 3.07 times so far on the second day of subscription.

The mainboard issue has been booked 4.13 times in the retail individual investors category so far. Retail investors applied for over 35.06 million shares compared to the 8.49 million shares reserved for the category. 

Non-Institutional Investors (NIIs) applied for over 16.85 million shares against the 3.64 million shares set aside for them. The mainboard issue was booked 4.63 times in the NII category. Qualified institutional Buyers (QIBs) placed bids for 1,01,250 shares on the first day of bidding against the 4.85 million shares set aside for the category and booked the issue at 0.02 per cent. Employees of the company booked the issue 12.2 times placing bids for 2,43,900 shares compared to the 20,000 shares on offer.

Shringar House of Mangalsutra IPO GMP

According to multiple websites, the grey market premium of Shringar House of Mangalsutra shares ranges between Rs 29.5 and Rs 30. Based on the GMP, the stock is likely to debut with a premium of nearly 18 per cent at Rs 195 per share.

Shringar House of Mangalsutra IPO: Issue Size and Price Band

The Shringar House of Mangalsutra IPO offer size is Rs 400.95 crore. The jewellery maker plans to raise Rs 400.95 crore from an equity issue of 24.3 million shares, which have been set at Rs 155 to Rs 165 apiece.

Shringar House of Mangalsutra IPO: Anchor Investors

Shringar House of Mangalsutra Ltd has raised Rs 120.18 crore in its anchor investor round. Shringar House of Mangalsutra Ltd pared 72.84 lakh equity shares at Rs 165 per share to anchor investors. Some notable investors who participated in the round included Kotak Mahindra Life Insurance Company Ltd, Maybank Securities Pte Ltd – ODI, Societe Generale – ODI, AIDOS India Fund Ltd and Founders Collective Fund.

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. 

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

Shringar House of Mangalsutra IPO subscription window opened today on September 10. Investors can place bids for Shringar House of Mangalsutra Ltd till the bidding window closes on September 13. The book-building issue's share allotment status will be decided on September 15.

After the finalisation of the public issue's share allotment status, refunds will be initiated for unsuccessful bidders on September 16. Successful bidders will receive shares of  Shringar House of Mangalsutra in their demat accounts on September 16 as well. 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 revenue for FY25 stood at Rs 1430.12 crore, increasing by over 29 per cent from Rs 1102.71 crore in FY24. The company posted a net profit of Rs 61.11 crore in FY25 increasing by over 96 per cent compared to a net profit of Rs 31.11 crore in FY24.

Shringar House of Mangalsutra IPO: Registrar

MUFG Intime India Pvt.Ltd is the registrar for the jewellery maker's issue. The book running lead manager for the mainboard issue is Choice Capital Advisors Pvt.Ltd.

Shringar House of Mangalsutra: Promoters

The promoter of Shringar House of Mangalsutra & Lifestyle Ltd include Chetan N Thadeshwar, Mamta C Thadeshwar, Viraj C Thadeshwar and Balraj C Thadeshwar.

Shringar House of Mangalsutra IPO: Objective

The jewellery maker plans to use Rs 280 crore from the Rs 400.95 crore raised via the public issue for funding working capital requirements.

About Shringar House of Mangalsutra Ltd

Shringar House of Mangalsutra and Lifestyle Ltd is engaged in designing, manufacturing and marketing a diverse collection of wedding jewellery with various stones such as American diamonds, cubic zirconia, pearls, and semi-precious stones.