Shringar House of Mangalsutra IPO allotment likely today. Here’s how to check status – News Air Insight

The Rs 401 crore IPO of Shringar House of Mangalsutra saw a healthy response, closing with a subscription of over 60 times on September 12. The IPO allotment is scheduled to be finalised on Monday while refunds and demat credits will be processed by September 16. The stock is expected to list on September 17 on both NSE and BSE.

Despite the heavy demand, the GMP has moderated and currently stands at Rs 31 per share, or about 19% over the issue price of Rs 165. If trends hold, the stock could debut around Rs 196.

How to check allotment: Investors who applied can check their allotment status in two ways

On Registrar’s Website (MUFG Intime India)

Visit the registrar’s IPO allotment page: (https://in.mpms.mufg.com/Initial_Offer/public-issues.html)

Select Shringar House of Mangalsutra IPO from the dropdown.Enter PAN, application number, or DP/Client ID.Click Submit to view allotment status.

On BSE Exchange Website

Go to BSE IPO Allotment Status (https://www.bseindia.com/investors/appli_check.aspx)

Select Equity under issue type.

Choose Shringar House of Mangalsutra

Enter application number and PAN.

Click Search to check status.

IPO details

Shringar House of Mangalsutra, founded in 2009, is focused on designing and manufacturing Mangalsutras and related jewellery. It supplies to big names like Titan, Malabar Gold, Reliance Retail and Joyalukkas, with a growing international presence across the UK, USA, UAE, New Zealand, and Fiji.
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The company raised Rs 401 crore via fresh issue of 2.43 crore shares. Promoter stake will fall from nearly 100% pre-IPO to around 75% post-listing.

Ahead of the IPO opening, Shringar bagged Rs 120 crore in an anchor round, drawing interest from several prominent marquee investors. The proceeds will mainly be utilized to meet working capital needs and for general corporate purposes.

Use of proceeds

The company plans to use Rs 280 crore from the IPO for working capital needs, while the rest will go towards general corporate purposes.

Financials

For FY25, revenue rose 30% to Rs 1,430 crore and profit after tax nearly doubled to ₹61 crore, reflecting strong demand and operational efficiency. Return on net worth stood at 36.2%.

Outlook

Given the robust subscription and healthy GMP, the listing is expected to be strong. However, valuations are on the higher side at a post-issue P/E of 26x, suggesting investors should monitor volatility post-listing.