Shringar House of Mangalsutra

About the company

Incorporated in 2009, Shringar House of Mangalsutra Limited is engaged in designing, manufacturing, and marketing of varied range of mangalsutras studded with diverse stones, including American diamond, cubic zirconia, pearl, mother of pearl, and semi-precious stones, in 18k and 22k purity of gold, serving B2B clients. It operates through an integrated manufacturing model, undertaking end-to-end operations from conceptualisation and design to manufacturing and selling products. The company contributed to around 6% of the organised mangalsutra market in India in CY23. It offers an extensive portfolio of mangalsutras featuring over 15 collections and more than 10,000 active SKUs, designed to suit special occasions such as weddings, festivals, and anniversaries, as well as daily-wear options including antique, bridal, traditional, contemporary, and Indo-western styles. The company's product range includes specialised offerings like "ring Mangalsutras", "bracelet Mangalsutras", "God edition Mangalsutras", and "divine Mangalsutras". Their manufacturing facility is spread over 8,300 sq. ft. and has an installed manufacturing capacity of 2,500 kg per annum as of March 31, 2025. The company serves a diverse client base, including corporate clients, wholesale jewellers, and retailers across 24 states and 4 UTs in India. As of March 31, 2025, it served 34 corporate clients, 1,089 wholesalers, and 81 retailers and also expanded internationally, serving clients in the United Kingdom, New Zealand, the UAE, the USA, and the Republic of Fiji during the last 3 fiscal years. Some marquee domestic and international corporate clients include Malabar Gold Limited, Titan Company Limited, GRT Jewellers India Private Limited, Reliance Retail Limited, Novel Jewels Limited (Aditya Birla Group), Joyalukkas India Limited, P N Gadgil Jewellers Limited, and others. Malabar Gold Limited is their largest client, contributing 15.31% of revenue from operations in FY25. Domestic revenue constitutes the majority of operations at 98.59% of total revenue in FY25, while export revenue contributed 1.37%. Maharashtra is the largest revenue contributor, accounting for 49.50% of FY25 revenue, while corporate clients, retailers, and wholesalers contributed 33.99%, 54.47% and 11.50% of FY25 revenue, respectively. India’s domestic jewellery market was valued at ₹4,976 billion in CY23 and is expected to nearly double to ₹11,044 billion by CY32 at an 8.8% CAGR. Regionally, demand is strongest in the South (41% share of jewellery demand), followed by West and Central India (24.6%). The biggest structural driver is the rebound and sustained growth of the wedding economy. Weddings in India surged to 115.5 lakh in CY23 and are projected to reach 180.8 lakh by CY32, growing at a 4.8% CAGR. Policy and trade trends also present medium-term opportunities. Gems & jewellery form ~7% of India’s exports, with the US and UAE being key markets. The CEPA agreement with the UAE has particularly boosted plain gold jewellery exports. The company plans to establish a pan-India supply chain model through third-party intermediaries by entering into contracts with reputable facilitators to expand into untapped domestic markets. They have identified 42 cities nationwide and entered into arrangements with 11 third-party facilitators to represent them in approaching both existing and potential clients. Now, Shringar House of Mangalsutra Ltd is launching its initial public offering (IPO), which consists of a fresh issue worth up to ₹400.95 crore. The total issue size of the IPO is ₹400.95 crore. Its shares will be listed on the NSE and BSE.

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   10 Sept 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   12 Sept 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   15 Sept 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   16 Sept 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   16 Sept 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   17 Sept 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.