Shringar House of Mangalsutra IPO Day 1 Live: The initial public offering (IPO) of the jewellery company Shringar House of Mangalsutra Ltd will be open for subscription from September 10 to 12. Shringar House of Mangalsutra IPO price band has been established at ₹155 to ₹165 per share.
The company, based in Mumbai, is offering a complete fresh issue of 2.43 crore equity shares, valued at ₹401 crore at the higher end of the price range, with no Offer For Sale (OFS) portion involved.
Funds raised from the fresh issue will be directed towards meeting the company’s working capital needs and other general corporate purposes.
Founded in 2009, Shringar House of Mangalsutra specializes in designing, manufacturing, and marketing a wide variety of Mangalsutras embellished with different stones like American diamonds, cubic zirconia, pearls, mother of pearl, and semi-precious stones, crafted in 18k and 22k gold.
Choice Capital Advisors serves as the sole book-running lead manager, and MUFG Intime India is the registrar for the offering.
Shringar House of Mangalsutra IPO GMP is ₹30. This indicates Shringar House of Mangalsutra share price were trading at a premium of ₹30 in the grey market, according to investorgain.com.
(Stay tuned for updates)
