Mumbai: Shringar House of Mangalsutra Limited is coming out with its IPO priced at Rs 155 to Rs 165 per equity share – aggregating to Rs 400.95 crores – which will open on September 10, 2025 and close on September 12, 2025.
The IPO is entirely a Fresh Issue of 2,43,00,000 equity shares with no Offer for Sale component. The IPO will be funding capital requirements of the Company, besides general corporate purposes.
Chetan N Thadeshwar, CMD, said the Company drew 98% Revenue from the domestic market where design played a big role for trendy products.
Viraj C Thadeshwar, Director and CEO, said Mangalsutras sales were a seasonal business including festivals and different States’ choices with as many as 100,000 components being used in making a Mangalsutra.
2014 witnessed the first Mangalsutra export to the UAE, while 2024 saw the Company crossing the Rs 1,000-crores milestone, he said, adding that efforts were on for reducing costs and improving operational efficiency, while also designing and crafting for the modern generation to even “wear Mangalsutras with Jeans.”
Since 2009, Shringar House of Mangalsutra Limited has been designing, manufacturing and marketing a diverse range of Mangalsutras with stones like: American diamonds, cubic zirconia, pearls, mother of pearls, and semi-precious stones, which are 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. It serves clients across 24 states and four union territories in India, besides the UK, New Zealand, UAE, USA, and Republic of Fiji.
Its Fiscals of bullion being used in Mangalsutras were: 2025 (1,320.72 kgs), 2024 (1,221.19 kgs) and 2023 (870.26 kgs). The Company’s Revenue from Operations increased to Rs 1,429,81 crores in Fiscal 2025 from Rs 1,101.52 in Fiscal 2024, while Profit after Tax increased to Rs 61.11 crore in Fiscal 2025 from Rs 31.10 crore in Fiscal 2024.
Choice Capital Advisors Limited is the sole book running lead manager, while MUFG Intime India Private Limited is the registrar to the issue.
