Shringar House's mangalsutra IPO fully subscribed on Day 1
Shringar House of Mangalsutra's IPO, priced at ₹155-165 per share, was fully booked on the first day.
Retail investors led the charge with demand at 1.59 times their quota, and non-institutional buyers also showed up with 1.19 times subscription.
Qualified Institutional Buyers haven't joined in yet.
What does Shringar House do?
Started in 2009, Shringar House specializes in mangalsutras—those iconic pieces of jewelry—with over 15 collections and more than 10,000 designs for daily wear and special occasions.
Their client list includes big names like Titan and Reliance Retail, plus they export to countries like the UK, UAE, USA, New Zealand, and Fiji.
Financials and other details
In FY2025 so far, Shringar's revenue jumped 30% to ₹1,430 crore and profits nearly doubled to ₹61.11 crore.
The company runs a single Mumbai factory with a team of designers and artisans focused on quality.
The IPO closes September 12; shares are expected to hit NSE and BSE on September 17.