 "Shringar House of Mangalsutra files papers with Sebi to raise funds via IPO")
Jewellery brand Shringar House of Mangalsutra Ltd has filed draft papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO).
The Mumbai-based company's IPO is entirely a fresh issue of 2.43 crore equity shares with no Offer For Sale (OFS) component. It includes a reservation for a subscription by eligible employees and a discount is being offered to such employees, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday.
Proceeds from the fresh issue to the tune of Rs 250 crore will be utilised for supporting working capital requirements of the company; and for general corporate purposes.
Incorporated in 2009, Shringar House of Mangalsutra is engaged in designing, manufacturing, and marketing a diverse range of Mangalsutras adorned with various stones such as American diamonds, cubic zirconia, pearls, mother of pearl, and semi-precious stones, crafted in 18k and 22k gold.
The company primarily serves its Business-to-Business (B2B) clients and holds about 6 per cent of the organised Mangalsutra market in India as of 2023, the draft papers cited CareEdge report.
On the financial front, Shringar House of Mangalsutra's revenue from operations increased by 16 per cent to Rs 1,101.52 crore in Fiscal 2024 from Rs 950.22 crore in the preceding fiscal. Profit after tax jumped by 33 per cent to Rs 31.10 crore in Fiscal, 2024 from Rs 23.36 crore in the previous financial year.
For the six months ended September 30, 2025, revenue from operations stood at Rs 687.13 crore and PAT at Rs 33.03 crore.
Choice Capital Advisors is the sole book-running lead manager and MUFG Intime India is the registrar of the issue. The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd.
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