The Rs 400 crore IPO drew robust investor demand, with subscriptions exceeding 60 times. The issue was priced in the Rs 155–165 band.
The company, a leading designer and manufacturer of Mangalsutras, serves a wide B2B client base across India and abroad. Its products, crafted in 18k and 22k gold and embellished with American diamonds, cubic zirconia, pearls, and semi-precious stones, have helped it capture around 6% of India’s organized Mangalsutra market.
With over 15 collections and more than 10,000 SKUs, Shringar House balances tradition and contemporary styles, appealing to both older and younger demographics.
Investor appetite was strong across all categories, with Qualified Institutional Buyers (QIBs), Non-Institutional Investors, and retail participants bidding aggressively.
Analysts attribute this to Shringar’s robust revenue growth, strong brand recognition, and expansion into overseas markets. The company’s clientele includes marquee names such as Titan, Malabar Gold, Reliance Retail, Joyalukkas, and GRT Jewellers, ensuring consistent order flows and revenue visibility.Also Read: Euro Pratik Sales IPO GMP at zero despite Ashish Kacholia Investment. Should you bid?Financially, Shringar has demonstrated robust growth. Its revenue for FY25 stood at Rs 1,430.12 crore, up 29.8% from Rs 1,102.71 crore in FY24, while net profit surged to Rs 61.1 crore from Rs 31.1 crore in the previous year.
Margins also expanded, with the EBITDA margin rising to 6.5%. The company’s P/E ratio of 19.47x is considered attractive compared with sector peers, highlighting comfortable valuation levels.
Market experts remain upbeat about its post-listing prospects.
“With strong subscription numbers, institutional backing, and a healthy grey market response, Shringar House of Mangalsutra’s IPO is well-positioned for a promising listing. Investors may consider booking half the profit and holding the rest for the long term,” said Shivani Nyati, Head of Wealth at Swastika Investmart.
The IPO proceeds will be used to strengthen working capital and for general corporate purposes. Given the buoyant subscription, steady fundamentals, and positive market sentiment, Shringar House’s debut is likely to reinforce investor confidence in the jewelry segment, especially as consumer spending on weddings and ornaments continues to rise.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own and do not represent the views of The Economic Times)
as a Reliable and Trusted News Source