Shringar House of Mangalsutra IPO will open for subscription on September 10, 2025, and will close on September 12, 2025. This is a Book Built Issue IPO, through which the company plans to raise ₹400.95 crores. The IPO comprises a fresh issue worth ₹400.95 crores, along with an Offer for Sale (OFS) of up to [.] equity shares, having a face value of ₹10 each.
The Shringar House of Mangalsutra IPO price band has been fixed at ₹155 to ₹165 per share. The quota distribution includes 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net Worth Individuals (HNIs). The IPO shares are proposed to be listed on both BSE and NSE on September 17, 2025, while the IPO allotment date is set for September 15, 2025.
From a financial perspective, the company has shown strong growth. The revenue increased to ₹1,430.12 crores in FY 2025 compared to ₹1,102.71 crores in FY 2024. Similarly, net profit doubled to ₹61.11 crores in FY 2025, up from ₹31.11 crores in FY 2024.
Shringar House IPO Date & Price Band Details
The Shringar House of Mangalsutra IPO opens on September 10, 2025, and closes on September 12, 2025. With a price band of ₹155–₹165 per share, face value ₹10, and lot size of 90 shares, this Book Built Issue IPO aims to raise ₹400.95 crores, listing on BSE & NSE.
| Category | Details |
|---|---|
| IPO Open Date: | September 10, 2025 |
| IPO Close Date: | September 12, 2025 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹155 to ₹165 Per Share |
| Issue Size: | Approx ₹400.95 Crores |
| Fresh Issue: | Approx ₹400.95 Crores |
| Lot Size: | 90 Shares |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE & NSE |
| Employee Discount | ₹15.00 |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
Shringar House IPO Market Lot
The Shringar House of Mangalsutra IPO lot size is 90 shares, requiring a minimum investment of ₹14,850 for retail investors. The retail maximum investment goes up to 13 lots (₹1,93,050), while S-HNI starts at 14 lots (₹2,07,900) and B-HNI at 68 lots (₹10,09,800).
| Application | 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 |
The subscription status will be updated after the bidding process begins on September 10, 2025.
Shringar House IPO Reservation
In the Shringar House of Mangalsutra IPO, QIB investors are reserved 50% of the net offer, while NII (HNI) investors get 15%. The retail quota stands at 35% of the net offer. Additionally, an employee quota of 20,000 shares is reserved with a ₹15 discount.
| Investor Category | Share Offered | % Share |
|---|---|---|
| QIB Shares Offered | – | 50% of the Net Offer |
| NII Shares Offered | – | 15% of the Net Offer |
| Retail Shares Offered | – | 35% of the Net Offer |
| Employee Quota | 20,000 Shares | – |
Shringar House IPO Anchor Investors
The Shringar House of Mangalsutra IPO anchor bidding date is September 9, 2025. The anchor investors list will be available in PDF format. The lock-in period for 50% of anchor shares ends on October 15, 2025, while the remaining 50% unlocks on December 14, 2025.
| Type | Details |
|---|---|
| Anchor Bidding Date | September 9, 2025 |
| Anchor Investors List | Click Here |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | October 15, 2025 |
| lock-in period end date 50% shares (90 Days) | December 14, 2025 |
Shringar House IPO Allotment & Listing Dates
The Shringar House of Mangalsutra IPO opens on September 10, 2025, and closes on September 12, 2025 with a cut-off time of 5 PM. The basis of allotment is on September 15, refunds and credit to Demat on September 16, while the IPO listing date is September 17, 2025.
| Type | Date |
|---|---|
| IPO Open Date: | September 10, 2025 |
| IPO Close Date: | September 12, 2025 |
| Basis of Allotment: | September 15, 2025 |
| Refunds: | September 16, 2025 |
| Credit to Demat Account: | September 16, 2025 |
| IPO Listing Date: | September 17, 2025 |
| IPO Bidding Cut-off Time: | September 12, 2025 – 5 PM |
Shringar House IPO: Promoters and Holding Pattern
The promoters of Shringar House of Mangalsutra IPO are Chetan N Thadeshwar, Mamta C Thadeshwar, Viraj C Thadeshwar, and Balraj C Thadeshwar. The promoter holding pre-issue stands at 99.99% (7,21,32,080 shares), which will reduce to 74.79% (9,64,32,080 shares) post-issue, ensuring better public participation in the IPO.
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 7,21,32,080 | 99.99% |
| Promoter Holding Post Issue | 9,64,32,080 | 74.79% |
Objects of the Issue & Utilisation of proceeds – Shringar House IPO
The Shringar House of Mangalsutra IPO objects of the issue include funding working capital requirements with ₹280 crores (69.83%), general corporate purposes with ₹100.23 crores (25%), and miscellaneous expenses of ₹20.73 crores (5.17%). The planned utilisation highlights the company’s focus on business expansion and operational growth.
| Purpose | Crores | Change% |
|---|---|---|
| Funding Working Capital requirements of the Company | 280 | 69.83% |
| General Corporate purposes | 100.23 | 25% |
| Miscellaneous | 20.73 | 5.17% |
Shringar House IPO Company Financial Report
The financial performance of Shringar House of Mangalsutra IPO shows strong growth. Revenue increased from ₹810.80 crores in 2022 to ₹1,430.12 crores in 2025, while PAT rose from ₹20.27 crores to ₹61.11 crores. With expanding assets at ₹375.75 crores, the company reflects consistent profitability and financial strength.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 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 |
Shringar House IPO Valuation – FY2025
The key performance indicators of Shringar House of Mangalsutra IPO highlight strong fundamentals with ROE at 36.20%, ROCE at 32.43%, and EBITDA margin of 6.48%. The company reports PAT margin of 4.27%, EPS of ₹8.57, and a healthy debt-to-equity ratio of 0.61, reflecting financial stability.
| KPI | Values |
|---|---|
| ROE: | 36.20% |
| ROCE: | 32.43% |
| EBITDA Margin: | 6.48% |
| PAT Margin: | 4.27% |
| Debt to equity ratio: | 0.61 |
| Earning Per Share (EPS): | ₹8.57 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 36.20% |
| Net Asset Value (NAV): | ₹27.84 |
Shringar House IPO Peer Group Comparison
In the peer group comparison of Shringar House of Mangalsutra IPO, rivals include Utssav CZ Gold Ltd (EPS 11.63, PE 16.85, RoNW 30.94%), RBZ Jewellers Ltd (EPS 9.70, PE 13.37, RoNW 17.15%), and Sky Gold Ltd (EPS 9.52, PE 28.73, RoNW 28.59%), showcasing strong industry benchmarks.
| 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. |
Shringar House Company Overview, Review, Key Points, Strengths, and Risks
Shringar House of Mangalsutra Ltd. (SHML) is an Indian jewelry company based in Mumbai that specializes in the design, manufacturing, and marketing of mangalsutras. The company primarily operates on a Business-to-Business (B2B) model, supplying to a wide range of clients including large corporate jewelers like Titan, Malabar Gold, Reliance Retail, and Joyalukkas, as well as wholesalers and retailers across India and in international markets like the UK, UAE, USA, New Zealand, and Fiji.
As of late 2023, the company held a significant 6% market share in the organized mangalsutra market in India. The company offers an extensive portfolio with over 15 collections and 10,000+ active designs, incorporating various stones such as American diamonds, cubic zirconia, pearls, and semi-precious stones in 18k and 22k gold purity. Shringar House operates a single, integrated manufacturing facility in Mumbai that handles the entire production process from design to finish. The company’s business model is characterized by its niche focus on a single product category, which allows it to have a strong brand identity and cater to high-volume, recurring orders from its B2B clients.
Financial Review & Key Points
- Financial Performance: Shringar House has demonstrated consistent growth in its top and bottom lines.
- Revenue from Operations: Grew from approximately ₹950 crore in FY23 to ₹1,430 crore in FY25.
- Profit After Tax (PAT): Increased significantly from ₹23.36 crore in FY23 to ₹61.11 crore in FY25.
- Return on Net Worth (RoNW): Has shown robust improvement, reaching 36.20% in FY25, which is notably higher than some of its peers in the jewelry sector.
- Debt-to-Equity Ratio: The company has been managing its debt well, with the ratio decreasing from 0.88 in FY23 to 0.61 in FY25.
- IPO Details:
- The company is launching an Initial Public Offering (IPO) with an issue size of around ₹401 crore.
- The IPO is entirely a fresh issue of shares, with the proceeds primarily intended to fund working capital requirements and for general corporate purposes.
Strengths
- Niche Market Specialization: The company’s exclusive focus on mangalsutras allows it to be a leading and specialized player in a culturally significant and growing segment of the Indian jewelry market. This specialization creates a strong brand and offers a unique value proposition to its clients.
- Strong and Diversified Client Base: Shringar House has built long-standing relationships with some of India’s most prominent jewelry brands, which provides a stable source of revenue. The company also serves a broad network of retailers and wholesalers.
- Design and Manufacturing Capabilities: An in-house design team and a single, integrated manufacturing facility enable the company to maintain high-quality standards, innovate with over 10,000 active designs, and fulfill large orders efficiently.
- Consistent Financial Growth: The company has a proven track record of increasing revenue, profitability, and key efficiency metrics like RoNW and ROCE, demonstrating operational efficiency and a healthy financial position.
- Hybrid Business Model: A blend of direct sales and job-work contracts ensures both higher margins and revenue stability, which is a significant advantage.
Risks
- Product Concentration: The company’s revenue is entirely dependent on a single product—mangalsutras. Any decline in demand for this specific jewelry item due to changing consumer preferences or an economic downturn could severely impact its business.
- Operational and Regional Concentration: The entire production is reliant on a single manufacturing facility in Mumbai. Any disruption to this facility due to accidents, natural disasters, or labor issues could halt operations. Furthermore, a significant portion of its revenue is concentrated in the state of Maharashtra, making it vulnerable to regional economic and social risks.
- Working Capital Intensive Business: The jewelry business requires substantial working capital for the purchase of raw materials, primarily gold. While the company’s financial metrics show improvement, the business faces challenges in converting sales into immediate cash, as indicated by negative cash flows from operating activities in recent years.
- Client Concentration: Although the client base is diversified, a significant portion of revenue comes from a limited number of corporate clients. The lack of long-term contracts with these key clients means orders could be reduced or canceled, which could materially affect the company’s financial performance.
- Competition: The company faces stiff competition from both large, organized players like Titan and Malabar Gold, which have wider product portfolios and established brand equity, as well as from the numerous players in the unorganized jewelry sector.
Shringar House IPO Registrar
MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: shringarhouse.ipo@linkintime.co.in
Website: https://in.mpms.mufg.com/
IPO Lead Managers aka Merchant Bankers
- Choice Capital Advisors Pvt.Ltd.
Shringar House 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/
FAQs about Shringar House IPO
The IPO for Shringar House of Mangalsutra is scheduled to open on September 10, 2025, and will close on September 12, 2025.
The price band for the IPO has been fixed at ₹155 to ₹165 per equity share.
The minimum lot size for retail investors is 90 shares, requiring a minimum investment of ₹14,850. The maximum a retail investor can apply for is 13 lots, totaling 1,170 shares.
The total issue size is approximately ₹400.95 crores, which is entirely a fresh issue of shares.
The company plans to use the proceeds primarily for funding its working capital requirements (approx. ₹280 crores) and for general corporate purposes (approx. ₹100.23 crores).
The basis of allotment is expected to be finalized on September 15, 2025, with the shares being credited to Demat accounts on September 16, 2025. The IPO is proposed to be listed on BSE and NSE on September 17, 2025.
The promoters are Chetan N Thadeshwar, Mamta C Thadeshwar, Viraj C Thadeshwar, and Balraj C Thadeshwar.
Before the IPO, the promoter holding stands at 99.99%. Post-issue, this will be reduced to 74.79%.
The company has shown strong financial growth, with revenue increasing to ₹1,430.12 crores and net profit doubling to ₹61.11 crores in FY 2025.
The company has a strong Return on Net Worth (RoNW) of 36.20%, which is competitive with or higher than some of its peers like Utssav CZ Gold Ltd and RBZ Jewellers Ltd.
Disclaimer: This content is provided strictly for educational and informational purposes only. The securities or investments mentioned are based on publicly available information and should not be construed as investment advice or recommendations. Investors are advised to consult with their financial advisor before making any investment decisions.
