New Delhi, September 3, 2025 – Mumbai-based jeweller Shringar House of Mangalsutra Ltd has announced the launch of its ₹401 crore Initial Public Offering (IPO), with a price band set between ₹155 and ₹165 per share. The subscription window will be open from September 10 to 12, 2025.
Founded in 2009, the company specializes in designing, producing, and marketing Mangalsutras made of 18k and 22k gold, often studded with American diamonds, cubic zirconia, pearls, mother of pearl, and semi-precious stones. According to CareEdge, Shringar held a 6% share of India’s organised Mangalsutra market in 2023.
The IPO will comprise a fresh issue of 2.43 crore equity shares, aggregating ₹401 crore at the upper price band, with no Offer for Sale (OFS) component. Proceeds will primarily be used to meet working capital requirements and for general corporate purposes.
Choice Capital Advisors is the book-running lead manager, while MUFG Intime India will act as the registrar. With strong revenue growth in FY25 to ₹1,430 crore and profit nearly doubling to ₹61 crore, the IPO is expected to attract keen interest from both institutional and retail investors.
