Shringar House of Mangalsutra shares made a strong debut on India’s stock exchanges, with shares listing at a notable premium following its initial public offering (IPO). The Rs 400-crore IPO drew overwhelming interest, with subscriptions exceeding 60 times, signalling robust investor confidence in the company’s business model and growth prospects.
On the National Stock Exchange (NSE), shares listed at Rs 188.50, representing a 14.2% premium over the issue price of Rs 165. Meanwhile, the Bombay Stock Exchange (BSE) saw shares debut at Rs 187.70, a 13.8% premium. The IPO had been priced in the Rs 155–165 band, attracting strong demand across all investor categories.
Company Overview
Shringar House of Mangalsutra is a leading designer and manufacturer of Mangalsutras, catering to a wide business-to-business (B2B) clientele both in India and internationally. Its products are crafted using 18k and 22k gold and feature embellishments such as American diamonds, cubic zirconia, pearls, and semi-precious stones. These offerings have helped the company capture approximately 6% of India’s organised Mangalsutra market.
The company boasts over 15 collections and more than 10,000 SKUs, blending traditional designs with contemporary styles to appeal to both older and younger customers. Its client base includes marquee names such as Titan, Malabar Gold, Reliance Retail, Joyalukkas, and GRT Jewellers, ensuring consistent order flows and predictable revenue streams.
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Investor Demand and IPO Subscription
Shringar House of Mangalsutra IPO attracted strong interest from Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and retail participants. Analysts note that the robust subscription levels were driven by Shringar House’s strong revenue growth, established brand presence, and expansion into overseas markets.
Financially, Shringar House has demonstrated solid performance. Revenue for FY25 stood at Rs 1,430.12 crore, up 29.8% from Rs 1,102.71 crore in FY24. Net profit increased to Rs 61.1 crore from Rs 31.1 crore in the previous year, while EBITDA margin expanded to 6.5%. With a price-to-earnings (P/E) ratio of 19.47x, the company’s valuation remains attractive compared with sector peers.
IPO Proceeds and Future Outlook
The proceeds from the IPO will be utilised to strengthen working capital and for general corporate purposes. Market experts have highlighted the positive subscription numbers and institutional support as indicators of strong post-listing performance.
Given the strong fundamentals, wide product range, and growing consumer demand for wedding and ornamental jewellery, Shringar House’s stock market debut is likely to reinforce investor confidence in the organised jewellery segment.
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