Shringar House of Mangalsutra IPO Subscription Status

On the first day of bidding (11 September 2025, till 5:00 PM), the Shringar House of Mangalsutra IPO was subscribed 8.26 times overall.

• QIB portion: 0.86x
• NII portion: 14.81x
• RII portion: 9.65x

The company received 14,05,96,020 bids against the 1,70,16,000 shares on offer.

• Day 1 subscription stood at 2.01x.
• By Day 2, the issue was subscribed 8.26x in total.

Company Overview

Founded in January 2009, Shringar House of Mangalsutra Limited is a leading Indian manufacturer and designer of mangalsutras. It uses a wide variety of stones—American diamonds, cubic zirconia, pearls, and other semi-precious stones—to craft pieces in 18k and 22k gold for B2B clients.

The company employs a 12-member design team and 182 in-house karigars (as of 31 December 2024). Its products are supplied to the United Kingdom, New Zealand, UAE, USA, and Fiji, serving corporate clients, wholesale jewellers, and retail outlets. Major clients include Malabar Gold Limited, Titan Company Limited, GRT Jewellers, Reliance Retail, Joyalukkas India, and Damas Jewellery (UAE). In FY24, it catered to 33 corporate clients, 96 wholesalers, and 832 retailers.

Financial Highlights

• Revenue: ₹1,430.12 crore in FY25 vs. ₹1,102.71 crore in FY24
• Profit: ₹61.11 crore in FY25 vs. ₹31.11 crore in FY24

Grey Market Premium (GMP)

As of 10 September 2025, the IPO’s GMP stood at ₹30, implying a trading price of around ₹195 in the grey market against the issue price of ₹165.