Shringar House Of Mangalsutra Limited IPO
Shringar House of Mangalsutra is among India’s leading and specialized designers and manufacturers of Mangalsutras. According to CareEdge Report, the company contributed to nearly 6% of the organized Mangalsutra market in India in CY23. With over 15 years of operational experience, the company has built a strong reputation in the jewellery industry, focusing exclusively on Mangalsutras as its core product line.
Business Model
The company operates through a B2B model, engaging in end-to-end operations—conceptualization, design, manufacturing, and marketing of Mangalsutras. Its products are sold to corporate clients, wholesalers, and retailers across 24 states and 4 union territories in India, as well as international markets such as the UK, USA, UAE, New Zealand, and Fiji.
Product Portfolio
Shringar House of Mangalsutra offers over 15 collections and more than 10,000 active SKUs, catering to diverse preferences across age groups.
Styles Offered: Antique, bridal, traditional, contemporary, and Indo-western.
Occasions: Weddings, festivals, anniversaries, and daily wear.
Materials: 18k and 22k purity gold, embellished with American diamonds, cubic zirconia, pearls, mother of pearl, and semi-precious stones.
Customization: Increasingly focused on personalized Mangalsutras to meet evolving consumer preferences.
Customer Network
Shringar House of Mangalsutra maintains a strong and diverse client base.
– Corporate Clients: Malabar Gold Limited, Titan Company Limited, GRT Jewellers, Reliance Retail, Aditya Birla Group’s Novel Jewels, Joyalukkas, P. N. Gadgil Jewellers, and others.
– International Clients: Goldbox Enterprises (UK), Sona Sansaar (New Zealand), Damas Jewellery (UAE).
– Client Base (FY25): 34 corporate clients, 1,089 wholesalers, and 81 retailers.
Additionally, the company also undertakes job-work manufacturing, processing over 1,320 kg of bullion into Mangalsutras in FY25.
Strengths
i) Established Client Base: Long-standing relationships with reputed domestic and international jewellery brands.
ii) Design Innovation: Over 10,000 SKUs and focus on customization to align with modern trends.
iii) Integrated Manufacturing: End-to-end capabilities ensuring consistency and quality.
iv) Focused Business Strategy: Single-product specialization in Mangalsutras has helped in building niche leadership.
v) Financial Growth: Strong revenue trajectory with domestic dominance and rising exports.
Objects of the Shringar House Of Mangalsutra Limited IPO:
Shringar House Of Mangalsutra Limited IPO Details:
| Open Date: | Sep 10 2025 |
| Close Date: | Sep 12 2025 |
| Total Shares: | 2,43,00,000 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Book Building |
| Issue Size: | 400.95 Cr. |
| Lot Size: | 90 Shares |
| Issue Price: | ₹ 155-165 Per Equity Share |
| Listing At: | NSE,BSE |
| Listing Date: | Sep 17 2025 |
Promoters And Management:
Financials of Shringar House Of Mangalsutra Limited IPO:
| Particulars | FY 2024-25 | FY 2023-2024 | FY 2022-2023 |
| Revenue from Operations | 1,429.80 | 1,101.50 | 950.20 |
| EBITDA | 92.6 | 50.7 | 38.8 |
| EBITDA Margins | 6.48% | 4.61% | 4.09% |
| PAT | 61.1 | 31.1 | 23.3 |
| PAT Margins | 4.27% | 2.82% | 2.47% |
| ROCE | 32.43% | 21.52% | 19.46% |
| Debt to Equity Ratio(In Times) | 0.61 | 0.8 | 0.88 |
| Operating Cash Flows | -7.09 | -14.1 | 13 |
Comparison With Peers:
| Companies | Revenue (in cr) | EBITDA Margins | PAT Margins | ROCE | D/E Ratio | MCap (in cr) | P/E |
| Shringar House of Mangalsutra Limited | 1,429.80 | 6.48% | 4.27% | 32.43% | 0.61 | 1591.12 | 26.04 |
| RBZ Jewellers Limited | 530 | 12% | 7.30% | 20.20% | 0.37 | 561 | 15.2 |
| Sky Gold & Diamonds Limited | 3548 | 6% | 3.70% | 23.40% | 0.92 | 4,299 | 27.7 |
| Utssav CZ Gold Jewels Limited | 646 | 6% | 3.80% | 21.50% | 1.03 | 448 | 17.9 |
Lead Manager of Shringar House Of Mangalsutra Limited IPO:
Registrar of Shringar House Of Mangalsutra Limited IPO:
Discussion on Shringar House Of Mangalsutra Limited IPO:
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