Shringar House of Mangalsutra IPO Subscription Status

The Shringar House of Mangalsutra IPO received a strong response on its first day of bidding, getting oversubscribed 2.01 times by 5:00 PM on September 10, 2025.

• Qualified Institutional Buyers (QIB): 0.01x
• Non-Institutional Investors (NII): 2.70x
• Retail Individual Investors (RII): 2.84x

By the end of Day 1, the company had received 3,42,40,410 share bids against the total issue size of 1,70,16,000 shares. The robust participation from retail and HNI investors signals strong market confidence, even though QIB interest remains minimal in the early phase.

About Shringar House of Mangalsutra Limited

Incorporated in January 2009, Shringar House of Mangalsutra Limited is among India’s foremost manufacturers and designers of premium mangalsutras.

• Product Craftsmanship: Uses American diamonds, cubic zirconia, pearls, and semi-precious stones to create a diverse range of 18k and 22k gold mangalsutras.
• Design & Workforce: Backed by a 12-member creative design team and 182 in-house karigars (artisans) as of December 31, 2024, ensuring a balance of modern design and traditional craftsmanship.
• Global Presence: Supplies to markets in the United Kingdom, New Zealand, the UAE, the USA, and the Republic of Fiji, serving corporate clients, wholesale jewellers, and premium retail outlets.

Notable corporate customers include Malabar Gold Limited, Titan Company Limited, GRT Jewellers, Reliance Retail, Joyalukkas India, and Damas Jewellery (UAE). In FY24, the company served 33 corporate clients, 96 wholesalers, and 832 retail stores, highlighting its strong B2B distribution network.

Financial Highlights

Shringar House has showcased impressive growth over the past year:

• Revenue: ₹1,430.12 crores in FY 2025, up from ₹1,102.71 crores in FY 2024.
• Net Profit: ₹61.11 crores in FY 2025 compared to ₹31.11 crores in FY 2024—a near 96% jump in profits year-over-year.
• Margins & Scale: The consistent increase in profit margins reflects efficient cost management, an expanding client base, and higher export demand.

IPO Grey Market Premium (GMP)

As of Wednesday, September 10, 2025, the GMP stands at ₹31. This suggests that the IPO is trading around ₹196 per share in the grey market, indicating a ₹31 premium over the issue price of ₹165. The healthy grey market activity signals positive investor sentiment and expectations of a strong listing.