Shringar House of Mangalsutra Limited is a specialized manufacturer and designer of Mangalsutras in India.
The company focuses on creating traditional yet contemporary designs, using 18k and 22k gold, and embellishing them with stones such as American diamonds, cubic zirconia, pearls, and semi-precious stones.
Its business model is primarily B2B, catering to corporate clients, wholesale jewellers, and retailers across the country. With operations spanning 24 states and 4 union territories, Shringar has also expanded globally, establishing a presence in the UK, New Zealand, the UAE, the USA, and Fiji between Fiscal Years 2023 and 2025.
The company’s client base includes leading domestic and international names such as Malabar Gold Limited, Titan Company Limited, GRT Jewellers, Reliance Retail, Joyalukkas India, and Damas Jewellery (UAE).
As of March 31, 2025, it had served 34 corporate clients, 1,089 wholesalers, and 81 retailers.
In addition to its core manufacturing, Shringar also undertakes job-work assignments for corporate clients. For Fiscals 2023, 2024, and 2025, the company processed 870.26 kgs, 1,221.19 kgs, and 1,320.72 kgs of bullion, generating revenues of ₹156.47 million, ₹193.24 million, and ₹264.83 million, respectively.
As of June 30, 2025, the company employed 237 people, strengthening its manufacturing, design, and client servicing capabilities.
Shringar House of Mangalsutra IPO – Details
| IPO Opening Date | 10 September 2025 |
| IPO Closing Date | 12 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 2,43,00,000 Shares Worth ₹400.95 Crore Fresh Issue: 2,43,00,000 Shares Worth ₹400.95 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹155 – ₹165 per share |
| Market Lot | 90 Shares |
| Min Order | 90 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Shringar House of Mangalsutra IPO – Date Schedule
| IPO Open Date | 10 September 2025 |
| IPO Close Date | 12 September 2025 |
| Basis of Allotment | 15 September 2025 |
| Initiation of Refund | 16 September 2025 |
| Credit of Shares to Demat Account | 16 September 2025 |
| IPO Listing Date | 17 September 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 12, 2025 |
Shringar House of Mangalsutra IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 90 | ₹14,850 |
| Retail (Max) | 13 | 1,170 | ₹1,93,050 |
| S-HNI (Min) | 14 | 1,260 | ₹2,07,900 |
| S-HNI (Max) | 67 | 6,030 | ₹9,94,950 |
| B-HNI (Min) | 68 | 6,120 | ₹10,09,800 |
Competitive Strength
- Established client base and long-standing relationships with the clients.
- Design innovation and diversified product portfolio.
- Integrated Manufacturing Facility.
- Quality assurance and quality control of Mangalsutras.
- Continuously improving financial performance.
- Experienced Promoters and a professional management team.
Company Promoters
- Chetan N Thadeshwar
- Mamta C Thadeshwar
- Viraj C Thadeshwar
- Balraj C Thadeshwar
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | ₹951.29 Cr | ₹919.86 Cr | ₹23.36 Cr | ₹93.19 Cr |
| 31 March 2023 | ₹1,102.71 Cr | ₹1,060.55 Cr | ₹31.11 Cr | ₹110.09 Cr |
| 31 March 2024 | ₹1,430.12 Cr | ₹1,348.32 Cr | ₹61.11 Cr | ₹123.11 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 32.43% |
| ROCE | – |
| Debt/Equity | 0.61 |
| RoNW | 36.20% |
| PAT Margin | 4.27% |
| EBITDA Margin | 6.48% |
| Price to Book Value | 5.93 |
| Pre IPO | Post IPO | |
| EPS (₹) | 8.47 | 6.34 |
| P/E (x) | 19.47 | 26.04 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Funding Working Capital requirements of the Company. | ₹280.00 |
| General corporate purposes. |
Shringar House of Mangalsutra IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Utssav CZ Gold Jewels Ltd | 16.85 |
| 2 | 10 | RBZ Jewellers Ltd | 13.37 |
| 3 | 10 | Sky Gold & Diamonds Ltd | 28.73 |
✅Strengths
- ong-term client relationships.
- Strong domestic & global presence.
- Reputed clients (Titan, Malabar, Reliance, Joyalukkas).
- Wide design variety & innovation.
- Consistent growth in bullion processing & revenue.
⚠️Risks
- Revenue concentration on few clients.
- Gold price & demand fluctuations.
- Rising receivables/credit risk.
- Strict regulatory compliance needs.
- High industry competition.
Shringar House of Mangalsutra IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 74.80% |
Shringar House of Mangalsutra IPO Prospectus
Company Contact Information
| Shringar House of Mangalsutra Ltd. Unit No. B-1, Lower Ground Floor Jewel World (Cotton Exch Bldg), 175, Kalbadevi Rd, Bhuleshwar, Mumbai, Maharashtra, 400002 Phone: +91 90044 29107 Email: cs@shringar.ms Website: https://www.shringar.ms/ |
Shringar House of Mangalsutra IPO Registrar
| MUFG Intime India Pvt.Ltd. Phone: +91-22-4918 6270 Email: shringarhouse.ipo@linkintime.co.in Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
Shringar House of Mangalsutra IPO Lead Manager(s)
| 1. Choice Capital Advisors Pvt.Ltd. |
Shringar House of Mangalsutra IPO FAQs
| What is Shringar House of Mangalsutra IPO? Shringar House of Mangalsutra IPO is a main-board IPO. The issue is priced at ₹155 to ₹165 per equity share. The IPO is to be listed on BSE & NSE. |
| When will Shringar House of Mangalsutra IPO open? The IPO is to open on 10 September 2025 for QIB, NII, and Retail Investors. |
| What is Shringar House of Mangalsutra IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is Shringar House of Mangalsutra IPO Size? Shringar House of Mangalsutra IPO size is ₹400.95 Crore. |
| What is the Shringar House of Mangalsutra IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 90 Shares with ₹14,850, while the maximum bid is 1,170 Shares with ₹1,93,050. |
| What is the Shringar House of Mangalsutra IPO Allotment Date? Shringar House of Mangalsutra IPO allotment date is 15 September 2025. |
| What is the Shringar House of Mangalsutra IPO Listing Date? Shringar House of Mangalsutra IPO listing date is 17 September 2025. The IPO is to be listed on BSE and NSE. |
