Shringar House of Mangalsutra IPO: The (IPO) of Shringar House of Mangalsutra is set to hit the primary market on Wednesday, September 10, along with two other companies, leaving investors spoilt for choice.
Ahead of the issue launch, the company is enjoying a strong (GMP). According to market sources, Shringar House of Mangalsutra IPO GMP is ₹25 today.
Considering the upper end of the price band and the prevailing GMP, Shringar House of Mangalsutra shares are trading at ₹190 in the grey market, a premium of 15.15%. Grey market premium signals investor willingness to pay over and above the issue price.
Shringar House of Mangalsutra IPO – Key Details
Here are key things to know about Shringar House of Mangalsutra IPO ahead of its opening:
1. Shringar House of Mangalsutra IPO Dates
Shringar House of Mangalsutra IPO opens for subscription on September 10 and closes on September 12. Following the closure of the issue, the allotment for Shringar House of Mangalsutra IPO is expected to be finalised on September 15.
2. Shringar House of Mangalsutra IPO Price Band
The price band for Shringar House of Mangalsutra IPO has been fixed at ₹155 to ₹165 per share.
3. Shringar House of Mangalsutra IPO Size
The company is looking to raise ₹400.95 crore at the upper end of the price band via its initial share sale.
4. Shringar House of Mangalsutra IPO Structure
The public offer is entirely a fresh issue of 2.43 crore shares. There is no offer for sale component in the IPO, meaning all proceeds from the share sale will go to the company.
5. Shringar House of Mangalsutra IPO Lot Size
Investors can apply for Shringar House of Mangalsutra IPO in lots of 90 shares, with the minimum investment of ₹14,850 required by a retail investor at the upper end of the price band.
6. Shringar House of Mangalsutra IPO Objective
The company plans to use ₹280 crore from the total funds raised for meeting working capital needs and the remaining for general corporate purposes.
7. Shringar House of Mangalsutra IPO BRLM
Choice Capital Advisors is the sole book-running lead manager and MUFG Intime India is the registrar of the issue.
8. Shringar House of Mangalsutra IPO Listing Details
Shares of Shringar House of Mangalsutra are slated to list on both BSE and NSE, with the listing date set as September 17.
9. Shringar House of Mangalsutra IPO Reservation
In the IPO, not more than 50% of the offer is reserved for qualified institutional buyers (QIBs), not less than 35% for retail investors and at least 15% for non-institutional investors (NIIs).
10. About Shringar House of Mangalsutra
Shringar House of Mangalsutra is a leading and specialised designer and manufacturer of mangalsutra in India. It offers a varied range of mangalsutra studded with a diverse range of stones, including but not limited to American diamond, cubic zirconia, pearl, mother of pearl, and semi-precious stones, in 18k and 22k purity of gold, to its business-to-business (B2B) clients.
The company sells its products to Corporate Clients, wholesale jewellers, and retailers across the country. Moreover, it has also expanded its reach to international clients in the United Kingdom, New Zealand, the UAE, the USA and Republic of Fiji.
Some of its marquee clients are leading jewelers like Malabar Gold, Titan Company, GRT Jewellers, Reliance Retail, Novel Jewels Limited (Aditya Birla Group), Joyalukkas India, P N Gadgil Jewellers, Kalamandir Jewellers, Waman Hari Pethe Jewellers, Goldbox Enterprises Limited (UK), Sona Sansaar (New Zealand), Damas Jewellery LLC (UAE), amongst others.
As of March 31, 2025, it served 34 corporate clients, 1,089 wholesalers and 81 retailers.
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