Shringar House of Mangalsutra Ltd. is launching its IPO to raise funds for working capital and general corporate purposes. The IPO opens on September 10, 2025 and closes on September 12, 2025. Shares are planned to be listed on BSE and NSE.
Key IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | September 10, 2025 |
| IPO Close Date | September 12, 2025 |
| Listing Date | September 17, 2025 |
| Face Value | ₹10 per equity share |
| Price Band | ₹155 to ₹165 per share |
| Issue Size | Approx. ₹400.95 Crores |
| Fresh Issue | Approx. ₹400.95 Crores |
| Offer for Sale | To be updated |
| Lot Size | 90 Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE & NSE |
| Employee Discount | ₹15.00 |
| Retail Quota | Up to 35% |
| QIB Quota | Up to 50% |
| NII (HNI) Quota | Up to 15% |
Market Lot Information
| Category | Lot Size | Shares | Amount (₹) |
|---|---|---|---|
| Retail Minimum | 1 | 90 | 14,850 |
| Retail Maximum | 13 | 1,170 | 1,93,050 |
| S-HNI Minimum | 14 | 1,260 | 2,07,900 |
| B-HNI Minimum | 68 | 6,120 | 10,09,800 |
Important IPO Dates
| Event | Date |
|---|---|
| IPO Opening | September 10, 2025 |
| IPO Closing | September 12, 2025 |
| Basis of Allotment | September 15, 2025 |
| Refund Initiation | September 16, 2025 |
| Demat Credit | September 16, 2025 |
| Listing Date | September 17, 2025 |
Promoters
- Chetan N Thadeshwar
- Mamta C Thadeshwar
- Viraj C Thadeshwar
- Balraj C Thadeshwar
About the Company
Shringar House of Mangalsutra Limited, founded in January 2009, is a leading manufacturer and designer of Mangalsutra jewellery in India. The company utilizes a variety of stones including American diamonds, cubic zirconia, pearls, and semi-precious stones to craft mangalsutras in 18k and 22k gold for B2B clients. Their product portfolio includes over 15 collections and 10,000+ SKUs, serving corporate clients, wholesalers, and retailers in 24 states, 4 Union Territories, and global markets like UK, UAE, USA, New Zealand, and Fiji.
Major clients include Titan, Malabar Gold, Reliance, Joyalukkas, and more. The company depends on a single product and production facility, and jewellery demand is seasonal and may be affected by market sentiment and gold price fluctuations.
Financial Performance
| Period Ended | Revenue (₹ Cr) | Expense (₹ Cr) | PAT (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| 2022 | 810.80 | 783.48 | 20.27 | 195.47 |
| 2023 | 951.29 | 919.86 | 23.36 | 211.55 |
| 2024 | 1,102.71 | 1,060.55 | 31.11 | 265.00 |
| 2025 | 1,430.12 | 1,348.32 | 61.11 | 375.75 |
Key Financial Ratios (FY2025)
| KPI | Value |
|---|---|
| ROE | 36.20% |
| ROCE | 32.43% |
| EBITDA Margin | 6.48% |
| PAT Margin | 4.27% |
| Debt to Equity Ratio | 0.61 |
| EPS (Basic) | ₹8.57 |
| P/E Ratio | N/A |
| RoNW | 36.20% |
| Net Asset Value (NAV) | ₹27.84 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW (%) | NAV | Income |
|---|---|---|---|---|---|
| Utssav CZ Gold Ltd | 11.63 | 16.85 | 30.94% | 53.23 | 646.32 Cr. |
| RBZ Jewellers Ltd | 9.70 | 13.37 | 17.15% | 61.26 | 530.15 Cr. |
| Sky Gold Ltd | 9.52 | 28.73 | 28.59% | 46.61 | 3,548.02 Cr. |
Purpose of the IPO
- Funding Working Capital requirements of the Company
- General Corporate purposes
- Miscellaneous
Registrar & Contact Details
Registrar:
MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: shringarhouse.ipo@linkintime.co.
Website: https://in.mpms.mufg.com/
Lead Managers:
Choice Capital Advisors Pvt.Ltd.
Company Address:
Shringar House of Mangalsutra Ltd.
Unit No. B-1, Lower Ground Floor
Jewel World (Cotton Exch Bldg),
175, Kalbadevi Rd, Bhuleshwar,
Mumbai, Maharashtra, 400002
Phone: +91 90044 29107
Email: cs@shringar.ms
Website: https://www.shringar.ms/
Reviews
The company’s strong financial growth, doubled PAT in 2025, and robust client portfolio make it attractive for long-term investment. However, reliance on a single product, seasonal demand, and volatility in gold prices are risks to consider.