House of Mangalsutra Limited’s Initial Public Offering to open
on Wednesday, September 10, 2025, price band set at ₹155 /- to ₹ 165 /- per Equity Share
- Price Band of ₹155/– ₹165/- per Equity
Share bearing face value of ₹10/- each (“Equity Shares”)
- Bid/Offer Opening Date – Wednesday,
September 10, 2025 and Bid/Offer Closing Date – Friday, September 12, 2025.
- Minimum Bid Lot is 90 Equity Shares and
in multiples of 90 Equity Shares thereafter.
RISKS TO INVESTORS
Mumbai, September 3, 2025: Shringar House of Mangalsutra Limited has fixed the price
band of ₹155/-
to ₹165/- per Equity Share of face value ₹10/- each
for its maiden initial public offer.
The Initial Public Offering (“IPO” or “Offer”)
of the Company will open on Wednesday, September 10, 2025, for
subscription and close on Friday, September 12, 2025. Investors can bid
for a minimum of 90 Equity Shares and in multiples of 90 Equity
Shares thereafter.
The IPO is entirely a fresh issue of shares up to 2,43,00,000
equity shares with no offer for sale component.
Incorporated in the year 2009,
Shringar House of Mangalsutra is engaged in designing, manufacturing, and
marketing a diverse range of Mangalsutras adorned with various stones such as
American diamonds, cubic zirconia, pearls, mother of pearl, and semi-precious
stones, crafted in 18k and 22k gold. The company primarily serves its
business-to-business (B2B) clients and holds approximately 6% of the organized
Mangalsutra market in India as of CY23, according to a CareEdge Report.
Shringar House of Mangalsutra caters
to a wide array of clients, including Corporate Clients, wholesale jewellers,
and retailers across 24 states and 4 union territories in India. Beyond its
domestic market, the company has expanded its presence internationally, serving
clients in the UK, New Zealand, the UAE, the USA, and the Republic of Fiji. Its
marquee Corporate Clients include Malabar Gold Limited, Titan Company Limited,
GRT Jewellers India Private Limited, Reliance Retail Limited, Novel Jewels
Limited (Aditya Birla Group), Joyalukkas India Limited, and international names
like Goldbox Enterprises Limited (UK), Sona Sansaar Limited (New Zealand), and
Damas Jewellery LLC (UAE). As on March 31, 2025, the company served 34
corporate clients, 1089 wholesalers, and 81 retailers.
In addition to its core business,
Shringar House of Mangalsutra also manufacture and supply Mangalsutras on a
job-work basis to their Corporate Clients. For the Fiscals 2025, 2024, and
2023, The company processed a total of 1,320.72 kgs, 1,221.19 kgs and 870.26
kgs of bullion into Mangalsutras.
The company has an extensive portfolio
of Mangalsutras, featuring over 15 collections and more than 10,000 active
SKUs, offering designs for special occasions like weddings, festivals, and
anniversaries, as well as everyday wear. Its collections include antique,
bridal, traditional, contemporary, and Indo-western styles, catering to women
of all ages with varying price points and weights.
As of June 30, 2025, Shringar House of
Mangalsutra employed a dedicated in-house design team of 22 full-time employees
focused on creating innovative designs that reflect the latest trends, customer
preferences, and demographic needs. Additionally, the company works with 166
in-house Karigars (artisans) and collaborates with a network of third-party
Karigars to meet the growing demand for its products.
The company’s registered office is located
at Mumbai's Kalbadevi Road and manufacturing facility is located at Lower Parel
(West), Mumbai.
Choice Capital Advisors Private Limited is the sole book-running
lead manager, and MUFG Intime India Private Limited is the registrar of the
issue.
The Issue is being made through the book-building process,
wherein not more than 50% of the net issue shall be available for allocation on
a proportionate basis to qualified institutional buyers, not less than 15% of
the net issue shall be available for allocation to non-institutional bidders,
and not less than 35% of the net issue shall be available for allocation to
retail individual bidders.
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