Shringar House of Mangalsutra IPO Subscription Reaches 2.01 Times on Day 1

The Shringar House of Mangalsutra IPO has received a strong response from investors, with a subscription of 2.01x by the end of Day 1. The company is offering shares at a price of Rs. 155 to Rs 165 per share, with a minimum lot size of 90 shares. The issue size stands at 2,43,00,000 shares (aggregating up to Rs 400.95 crore), comprising fresh issues. Stay tuned for the latest updates on the Shringar House of Mangalsutra IPO subscription status as the offering progresses.

Shringar House of Mangalsutra IPO Subscription Status - Day 1

The Shringar House of Mangalsutra IPO was subscribed 2.01 times overall by the end of Day 1, with Retail Investors at 2.84 times, Non-Institutional Investors (NIIs) with a demand at 2.70 times, and Qualified Institutional Buyers (QIBs) at 0.01 times.

Last updated: 05:04 PM, Wednesday, 10 Sep 2025

Company Overview of the Shringar House of Mangalsutra IPO

Shringar House of Mangalsutra Ltd is a leading manufacturer and designer specializing exclusively in mangalsutras, specifically traditional necklaces signifying marital status among Indian women. Founded in 2009 and headquartered in Mumbai, Maharashtra, the company has built a strong B2B presence, serving retailers, wholesalers, and corporate clients throughout India and internationally, especially in the UAE, UK, USA, New Zealand, and the Republic of Fiji.

Their manufacturing facility operates out of Lower Parel, Mumbai, spanning 8,300 sq. ft. and equipped with advanced technologies like CNC milling, laser solder, and 3D printing, supporting capacity for intricate, customized designs. Shringar offers a range of products crafted in 18k, 22k, and 24k gold, featuring American diamonds, cubic zirconia, pearls, and semi-precious stones. The company claims an extensive portfolio of over 15 collections and more than 10,000 SKUs, focusing on styles from traditional to contemporary and Indo-Western.

Strengths and Risks of Shringar House of Mangalsutra IPO

Let’s dive into the strengths and risks to assess if the Shringar House of Mangalsutra IPO is good or bad for investors

Strengths

• Established Client Base: Strong, long-standing relationships with leading jewelry retailers and corporate buyers in India and overseas (UAE, UK, USA, Fiji, New Zealand).

• Integrated Manufacturing Facility: End-to-end manufacturing, high capacity (2,500 kg/year), advanced technologies, and skilled artisans enable efficient production and innovation.

• Design Innovation & Broad Portfolio: Over 10,000 SKUs and more than 15 collections, continuous design upgrades, and customization capabilities.

• Consistent Financial Growth: Annual revenue and profits have risen consistently, with a 29.8% increase from FY24 to FY25, reducing leverage and improving margins.

• Strong Domestic & International Footprint: Presence in 24 Indian states, 4 union territories, and key international markets, mitigating some geographic risks.

• Quality Control: Multi-stage inspections, hallmarking, and strict product quality regimes maintain brand reputation

Risks

• Single Product Focus: All revenue comes from mangalsutras, making the company vulnerable to demand fluctuations or changes in cultural trends.

• Capacity Utilization: In Fiscal 2023, it was around 66% which has slightly increased to 70% in Fiscal 2025. The production capacity has been utilized in recent years, risking inefficiencies if demand does not keep pace with expansion.

• Single Facility Dependence: Operations depend entirely on the Mumbai facility, so any disruption there may significantly impact business continuity.

• Working Capital Needs: The business is capital-intensive, needing significant upfront funds for gold procurement while extending client credit, posing liquidity risks.

• Intellectual Property Risks: Unique designs may be imitated and are not always protected, threatening future growth and brand differentiation.

• Revenue Concentration: A Major share of revenue comes from a concentrated set of clients and from Maharashtra, increasing exposure to regional or client-specific downturns.

Shringar House of Mangalsutra IPO Details

• IPO Date: September 10, 2025 to September 12, 2025

• Issue Price: Rs 155 to Rs 165 per share

• Lot Size: 90 shares

• Total Issue Size: 2,43,00,000 shares (aggregating up to Rs 400.95 crore)

• Tentative Allotment Date: Monday, September 15, 2025

• Tentative Listing Date: Wednesday, September 17, 2025

How to Apply for Shringar House of Mangalsutra IPO

• Visit the Rupeezy app or Rupezy DOCK.

• Navigate to the IPO section on the Home Page

• Here, you can view all the IPOs with details such as market lot, minimum bid quantity, price range, and analysis.

• You can read the Red Herring Prospectus for the issue details.

• Click on Apply.

• Enter your UPI ID for payment & place the bid.

• While placing the bid, enter the cutoff price or desired price in the range specified. Select quantity as per lot size. 

• Submit to complete the order.