Shringar House Of Mangalsutra IPO Opens On September 10, GMP Hints At Strong Listing

Mumbai: The IPO (Initial Public Offering) of Shringar House of Mangalsutra will open for public subscription on September 10, 2025, and will remain open till September 12, 2025. This means investors can apply to buy shares during these three days.

The company plans to raise Rs 400.95 crore through this IPO. This is a completely fresh issue, meaning the company will issue 2.43 crore new shares.

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- The price band is set at Rs 155 to Rs 165 per share.

- Retail investors must apply for at least 90 shares.

For anchor investors (big institutional investors), the issue opened on September 9, 2025.

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What Does the Company Do?

Shringar House of Mangalsutra is a company that designs and makes mangalsutras, which are traditional Indian gold necklaces.

They make mangalsutras in 18-carat and 22-carat gold for many big B2B clients like:

- Titan Company

- Malabar Gold

- Reliance Retail

- Aditya Birla Group's Novel Jewels

- PNG Jewellers

- Vaman Hari Pethe Jewellers

- Vaibhav Jewellers

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As of March 2025, the company had:

- 34 corporate clients

- 1089 wholesale clients

- 81 retail clients

GMP Shows Positive Signs

The GMP (Grey Market Premium) of the IPO is around Rs 24 per share.

This means the share could list at around Rs 189, which is about 14.55 percent higher than the upper price band of Rs 165.

However, GMP is not guaranteed—it changes daily based on market mood.

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How Will the Company Use the Money?

The company will use the IPO money for:

- Working capital (daily business needs)

- General corporate purposes

The lead manager for this IPO is Choice Capital Advisor Pvt Ltd, and the registrar is MUFG Intime India Pvt Ltd.