Shringar House of Mangalsutra IPO day 3: The initial public offering (IPO) of Shringar House of Mangalsutra Limited hit the Indian primary market on 10 September 2025, and the Shringar House of Mangalsutra IPO subscription will remain open until 12 September 2025. This means investors have one day to apply to the Shringar House of Mangalsutra IPO. The company has fixed the Shringar House of Mangalsutra IPO price band at ₹155 to ₹165 per equity share. The public issue is proposed for listing on the BSE and the NSE. The mainboard issue aims to raise ₹400.95 crore from its initial offer by issuing fresh shares. Those applying for the Shringar House of Mangalsutra IPO under the employees’ quota will get an additional ₹15 discount on the public issue. Shringar House of Mangalsutra IPO subscription status suggests that the mainboard IPO has received a strong response from the Indian primary market investors.
Shringar House of Mangalsutra IPO GMP today
Meanwhile, Shringar House of Mangalsutra’s IPO created a buzz in the grey market much before the opening of the Shringar House of Mangalsutra IPO subscription. According to stock market observers, shares of the company are available at a premium of ₹31 in the grey market today, which is Re 1 higher than yesterday’s premium of ₹30. This means Shringar House of Mangalsutra IPO GMP today is ₹31, which signals around a 19% listing gain for potential investors. Market observers said that Shringar House of Mangalsutra IPO GMP has surged from ₹20 to ₹31 in the last six days. This can be attributed to the strong Shringar House of Mangalsutra IPO subscription status and positive sentiments in the Indian stock market. They said the rising Shringar House of Mangalsutra IPO GMP suggests a substantial listing gain for the Indian primary market investor applying for the Urban Company IPO.
Shringar House of Mangalsutra IPO subscription status
By 5:00 PM on day 2 of bidding, the public issue had been booked 8.24 times. The retail portion of the book build issue had been subscribed to 9.62 times, and its Non Institutional Investors (NII) segment had been filled 14.81 times. The Qualified Institutional Buyers (QIBs) category had been booked 0.86 times.
Shringar House of Mangalsutra IPO review
On whether one should apply for the Shringar House of Mangalsutra IPO or not, Anand Rathi research says, “On the valuation front, based on annualised FY25 earnings, the company is seeking a P/E of 26 times, and a post-issue market capitalisation of approximately ₹15,911 million, making the issue appear to be fairly priced. The company’s operations are working-capital intensive, with upfront gold payments and 15–20 days of client credit. As scale expands, working capital needs will rise, and IPO proceeds will be used to fund them. We also believe that the company is likely to benefit from the rising shift from unorganized to organised sector as well as the huge addressable market size of Mangalsutra, along with its plans to establish a new supply chain network to expand into untapped domestic markets and enter new international markets, We assign a ‘Subscribe for Long term’ rating for the IPO backed by Shringar’s robust growth, expanding client base, strong financials, and strategic expansion, enabling long-term value creation.”
BP Equities assigned a ‘subscribe’ tag to the Shringar House of Mangalsutra IPO, saying, “At the upper price band of ₹165, the company is valued at a P/E multiple of 19.2x FY25 earnings. Given the company’s expanding margins, scalable business model, and growth potential, we believe the valuation, in the range of peers, is justified. We recommend investors to SUBSCRIBE to the issue with a long-term investment horizon.”
Master Capital Services has also assigned a ‘buy’ tag to the Shringar House of Mangalsutra IPO: “The Indian Mangalsutra market reached Rs. 178 billion, showing a y-o-y growth of 16%. By CY32, the Indian Mangalsutra market is expected to grow 5.8% y-o-y to Rs. 303 billion. Mangalsutra is a vital part of Indian weddings. Its ritualistic value makes it essential for weddings, maintaining a steady market demand. The trend towards customisation and personalisation is growing in the jewellery industry, including for Mangalsutras, as customers increasingly seek unique designs tailored to their tastes and preferences. The wedding surge drives growth in the jewellery industry, as bridal purchases increase with each wedding. The demand for Mangalsutra is complementary to the demand for jewellery; hence, the demand trend depicts a similar trend. Hence, in the long term, the market for Mangalsutra is expected to remain healthy. Shrinagar House of Mangalsutra Limited is well-positioned to capture this expected growth by establishing a supply chain network to reach untapped geographical regions. The company is strengthening its relationships with existing clients, participating in their future expansions, and investing in marketing and brand-building initiatives. Investors can consider the IPO for long-term investment.”
Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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