Shringar House of Mangalsutra IPO to open on September 10
Mumbai-based Shringar House of Mangalsutra is opening its IPO from September 10-12, offering 2.43 crore new shares.
Allotment will be out by September 15, and the stock lists on the bourses on September 17.
Who are they?
Since starting in 2009, Shringar House has been designing and making gold mangalsutras (18k and 22k).
Their client list features big names like Titan, Malabar Gold, Reliance Retail, and Joyalukkas.
As of March 2025, they also supply over a thousand wholesalers and 81 retailers.
For this IPO, up to 20,000 shares are set aside for employees.
Financials and use of proceeds
The company's net profit almost doubled in FY25 to ₹61.1 crore (from ₹31.1 crore last year), with revenue jumping nearly 30% to ₹1,429.8 crore.
About ₹280 crore from the IPO will go toward working capital; the rest is for general business needs.
Choice Capital Advisors is handling the process for them.