Shringar House Of Mangalsutra Ltd. IPO: All You Need To Know

The Indian mangalsutra market, valued at ₹178 billion in FY23, grew 16% y-o-y and is expected to expand to ₹192 billion in FY24, reflecting sustained demand driven by cultural traditions and rising wedding expenditures. Over the longer term, the market is projected to grow at a CAGR of 5.8% to reach ₹303 billion by FY32. As a symbol of marriage, mangalsutras hold deep cultural significance, with gold remaining the preferred material owing to its association with wealth, purity, and auspiciousness. Regional variations in design across India create a wide and diverse market, while evolving consumer preferences for customization and personalization are further supporting premiumisation and long term industry growth.

Detail	Information
IPO Open Date	Sep 10, 2025
IPO Close Date	Sep 12, 2025
Price Band	₹155 – ₹165 per share
Lot Size	90 shares
Issue Size	₹4,009 million
Listing At	BSE, NSE
Tentative Listing Date	To be announced

Shringar House of Mangalsutra is amongst the leading and specialized designers and manufacturers of mangalsutras in India, with a contribution of 6% to the organized market in FY23. The company is engaged in designing, manufacturing, and marketing a diverse range of mangalsutras crafted in 18k and 22k gold, often studded with American diamonds, cubic zirconia, pearls, mother of pearl, and other semi-precious stones, catering primarily to B2B clients. With strong expertise in blending traditional significance with contemporary designs, the company has established a niche presence in a culturally rooted yet evolving segment of the Indian jewellery market.

Shringar House of Mangalsutra has delivered robust financial performance with consistent growth across key metrics. Revenue from operations grew from ₹9,502.17 million in FY23 to ₹14,298.15 million in FY25, reflecting a healthy CAGR of 22.67%. Profitability improved significantly, with EBITDA more than doubling over the period to ₹926.12 million in FY25, translating into an enhanced margin of 6.48% versus 4.09% in FY23. Net profit after tax more than doubled to ₹611.14 million in FY25, with margins strengthening to 4.27%. Return ratios have shown marked improvement, with ROE rising to 36.20% and ROCE to 32.43% in FY25, underscoring efficient capital deployment. The company has also maintained a comfortable capital structure with debt-equity declining to 0.61, while working capital days remain at manageable levels. Overall, the financial trajectory highlights strong growth, improving profitability, and prudent balance sheet management.

Objects of the Issue:

• Funding Working Capital requirements – INR 2800 million
• General corporate purposes

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