Shringar House of Mangalsutra Ltd IPO GMP 2025: Price Band, Timeline, Financials & Investor Insight

The Shringar House of Mangalsutra IPO opens September 10–12, 2025 with a price band of ₹155–₹165. Read about IPO key metrics, financial strength, business model, growth potential, and essential investment FAQs.

Introduction

Get ready for one of the season’s most glittering market debuts: Shringar House of Mangalsutra Ltd is entering the public markets via IPO from September 10 to 12, 2025. Known for its exquisite mangalsutra designs, this Mumbai-based jeweller is holding a ₹401 crore all-fresh-issue offering. With strong demand indicators and solid financials, let’s unpack what this IPO means for investors.

IPO Snapshot

Metric	Detail
Issue Period	September 10–12, 2025
Price Band	₹155–₹165 per share
Issue Size	~₹400.95 crore (all fresh issue)
Lot Size	90 shares
Allocation	QIB: upto 50%, NII: 15%, Retail: 35%
Anchor Subscription	September 9, 2025
Allotment Date	September 15, 2025
Refunds/ Demat Credit	September 16, 2025
Listing Date	September 17, 2025 on BSE & NSE

Company Overview

Founded in 2009 and headquartered in Mumbai, Shringar House specializes in elegant 18K & 22K gold mangalsutras assembled with stones like American diamond, pearls, cubic zirconia, mother-of-pearl, and semi-precious gems. Operating with a 12-member design team and 182 in-house artisans, they serve a wide B2B network: corporate clients, wholesalers, and retailers across 24 Indian states and 4 union territories. Their presence extends internationally to the UK, UAE, USA, New Zealand, and Fiji.

Financial Performance

Shringar House delivered strong fiscal performance for FY2025:

Revenue: ₹1,430 crore (up from ₹1,102 crore in FY2024)
Profit After Tax (PAT): ₹61 crore (up from ₹31 crore)

FY22–FY25 summary:

FY	Revenue (₹ cr)	PAT (₹ cr)
2022	₹810.80	₹20.27
2023	₹951.29	₹23.36
2024	₹1,102.71	₹31.11
2025	₹1,430.12	₹61.11

Financial ratios:

ROE: 36.20%
ROCE: 32.43%
EBITDA Margin: 6.48%
PAT Margin: 4.27%
Debt-to-Equity: 0.61
EPS: ₹8.57 (basic), NAV: ₹27.84

Objectives of the Issue

IPO proceeds will be allocated for:

Working capital needs (~₹280 crore)
General corporate purposes

Why Investors Should Consider the IPO

Market-Leading Player

Shringar holds an estimated 6% share in India’s organized mangalsutra market backed by strong B2B relationships with players like Malabar Gold, Titan, Reliance, and more.

Proven Growth Story

Their doubling of PAT over one fiscal, combined with expanding top-line growth (~30% YoY), demonstrates operational scalability.

Profitability Achieved

After years of building scale, delivering ₹61 crore in PAT in FY2025 signifies effective cost control and healthy unit economics.

Brand Expansion & Credibility

Listing will amplify visibility, strengthen branding, and facilitate smoother financial engagement.

Tailored Segment Focus

Mangalsutras are culturally significant and see consistent demand—especially in premium categories with customization.

Risks to Monitor

Concentrated Client Base: Heavy reliance on select B2B partners—losses here could dent revenues.
Working Capital Sensitivity: Large inventory and receivables cycles could strain liquidity.
Design Piracy Risk: Focused mangalsutra designs risk imitation without rigid IP protections.
Cultural/Cyclical Shifts: Demand tied to weddings and gold sentiment.

Conclusion

Shringar House of Mangalsutra’s IPO is more than a financial milestone—it celebrates tradition, design excellence, and growth. Strong financials, market leadership, and strategic clarity make this IPO a compelling proposition. Investors seeking a blend of cultural pride and profit may find value here, while mindful investors weigh client concentration and working capital exposure.

FAQs

1. When is the IPO open for subscription?
September 10–12, 2025.

2. What is the price band and lot size?
₹155–₹165 per share; 90 shares per lot (~₹14,850).

3. What is the total issue size?
Entirely fresh issue of approx ₹400.95 crore for 2.43 crore shares.

4. How will proceeds be utilized?
Primarily for working capital (~₹280 crore); rest for corporate purposes.

5. What were FY2025 financials?
Revenue: ₹1,430 cr; PAT: ₹61.11 cr. Strong growth over FY24.

6. When will shares list and when is allotment?
Allotment: 15 Sept; Refund/Credit: 16 Sept; Listing: 17 Sept on NSE & BSE.

7. What are major risks?
Client concentration, working capital demands, design protection, demand cyclicity.

Disclaimer

This article is for educational purposes only. It does not constitute investment advice. Please consult a SEBI-registered financial advisor before making investment decisions.