Shringar House Of Mangalsutra IPO Opens Soon: Latest GMP Signals Nearly 15% Listing Gain, Check Details

Shringar House of Mangalsutra Ltd. is set to launch its initial public offering (IPO) this week to raise over Rs 400 crore from the primary market. The company manufactures and designs mangalsutras for jewellery retailers.

Ahead of the launch of the mainboard issue, the grey market premium (GMP) for Shringar House of Mangalsutra indicated a potential listing gain of nearly 15% per share. 

Investors looking forward to participating in the IPO subscription should check the following details before submitting their bids.

According to InvestorGain, the GMP for the Shringar House of Mangalsutra IPO stood at Rs 24 apiece as of 12:36 p.m. on Sept. 8. The latest GMP indicates a listing price of Rs 189 apiece at a premium of 14.55%, compared to the upper limit of the IPO price band. 

Note: GMP does not represent official data and is based on speculation.

Shringar House of Mangalsutra IPO is a book-building issue worth Rs 400.95 crore. It comprises entirely a fresh issue of 2.43 crore shares.

To participate in the IPO, retail investors need to bid for at least a single lot size of 90 shares, amounting to a minimum investment of Rs 14,850. Small Non-Institutional Investors need to bid for 14 lots, aggregating to Rs 2,07,900. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 68 lots. It will lead to an investment of Rs 10,09,800.

The price band for the IPO has been fixed between Rs 155 and Rs 165 per share.

The Qualified Institutional Buyers (QIBs) will be offered a maximum of 50% of the net issue. Retail investors will be allocated at least 35% of the net issue and a minimum of 15% will be reserved for Non-Institutional Investors. 

Investors can participate in the IPO from Sept. 10 to Sept. 12. The IPO share allotment status is scheduled to be finalised on Sept. 15. The company will transfer shares to the demat accounts of successful bidders on Sept. 16 and refunds for non-allottees will be done on the same day. 

Shares of Shringar House of Mangalsutra Ltd. are tentatively scheduled to be listed on the BSE and NSE on Sept. 17.

Choice Capital Advisors Ltd. is the book-running lead manager and MUFG Intime India Ltd. is the registrar of the issue.

The company will use proceeds from the IPO to fund working capital requirements and for general corporate purposes.

The company designs and sells mangalsutras. It uses materials such as American diamonds, cubic zirconia and pearls in its mangalsutras. The company primarily caters to the needs of jewellery retailers.

The company reported a 96.43% year-on-year (YoY) growth in profit after tax (PAT) at Rs 61.11 crore in FY25 from Rs 31.11 crore in FY24. Its revenue from operations rose 29.8% YoY to Rs 1,429.82 crore in FY25 from Rs 1,101.52 crore in the preceding financial year.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.