Shringar House of Mangalsutra sets IPO price band, to hit Dalal Street on September 10

Shringar House of Mangalsutra, which makes mangalsutras for several leading corporate companies in jewellery industry, has fixed a price band of ₹155 to ₹165 per share for its ₹401 crore IPO (initial public offering).

The lot size for an application is 90. The minimum amount of investment required by an retail is ₹14,850, based on the upper end of the price band.

The IPO of the Mumbai-based company will be hitting Dalal Street on September 10. Urban Company will also launch its ₹1,900 crore issue on the same day.

Shringar House of Mangalsutra will launch its IPO anchor book for institutional investors on September 9, and close the IPO bidding for all investors on September 12.

The IPO is entirely a fresh issue of 2.43 crore shares aggregating to ₹400.95 crore.

Proceeds from the IPO of about ₹

280 crore will be used for its working capital requirements, and the remainder funds for general corporate purposes.

Company overview

The firm designs, and manufactures mangalsutras, in 18k and 22k purity of gold, for several business-to-business (B2B) clients including Titan Company, Malabar Gold, Reliance Retail, Novel Jewels (Aditya Birla Group), Joyalukkas India, P N Gadgil Jewellers, Waman Hari Pethe Jewellers, and Vaibhav Jewellers.

As of March 2025, it served 34 corporate clients, 1,089 wholesalers and 81 retailers.

Book running lead manager

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

The allotment for the Shringar House of Mangalsutra IPO is expected to be finalised on September 15, and the shares will be listing on BSE and NSE with a tentative listing date fixed as September 17.