Shringar House of Mangalsutra IPO - Listing Performance & Details

Shringar House of Mangalsutra Limited was incorporated in January 2009 and is headquartered in Mumbai, Maharashtra. It works in the jewellery sector, specialising in the design and manufacture of mangalsutras.

The company designs, manufactures and sells mangalsutras made with American diamonds, pearls and semi-precious stones set in 18k and 22k gold, offering more than 10,000 SKUs across 15 collections. It operates in the B2B segment, serving 34 corporate clients, 1,089 wholesalers and 81 retailers as of FY25, including Titan, Malabar Gold, Reliance Retail and Damas Jewellery, across 24 states and four union territories, and also exports to the UK, USA, UAE, New Zealand and Fiji. It held about 6% of India's organised mangalsutra market as of 2023. Operations run from a flagship store on Kalbadevi Road and a single manufacturing facility in Lower Parel, both in Mumbai, supported by 12 in-house designers and 182 in-house artisans. The promoters are Chetan N. Thadeshwar (Chairman and Managing Director), Mamta C. Thadeshwar, Viraj C. Thadeshwar and Balraj C. Thadeshwar.

Revenue from operations rose from Rs 950.22 crore in FY23 to Rs 1,101.52 crore in FY24 and Rs 1,429.82 crore in FY25, with profit after tax rising from Rs 23.36 crore in FY23 to Rs 31.10 crore in FY24 and Rs 61.11 crore in FY25, as per the RHP. The IPO was a mainboard book-built issue of about Rs 400.95 crore on the NSE and BSE, structured entirely as a fresh issue of 2,43,00,000 equity shares of face value Rs 10 each, with no offer for sale, priced at Rs 155-165 per share, and it listed on 17 September 2025. Net proceeds from the fresh issue were earmarked for funding working capital requirements (about Rs 280 crore), with the balance for general corporate purposes.