Shringar House of Mangalsutra has raised ₹120.18 crore from anchor investors ahead of its initial public offering that opens for public subscription on September 10. The company informed the bourses that it allocated 72.84 lakh equity shares at ₹165 per share to anchor investors.
Some of the marquee institutions that participated in the anchor include Kotak Mahindra Life Insurance Company Limited, Maybank Securities Pte Ltd – ODI, Societe Generale – ODI, AIDOS India Fund Limited, Nav Capital VCC, and Founders Collective Fund.
Out of the total allocation of 72.84 lakh equity shares to the anchor investors, none were allocated to domestic mutual funds, as per the exchange filing.
Choice Capital Advisors Private Limited is the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the issue.
IPO Details
The IPO is entirely a fresh issue of shares up to 2.43 crore equity shares with no offer for sale component. The offer also includes a subscription reservation by eligible employees in the employee reservation portion.
The company is proposing to open its initial public offering of equity shares on Wednesday, September 10, 2025, for subscription and close on Friday, September 12, 2025. The price band for the offer has been determined at ₹155 – ₹165 per equity share.
The IPO will fetch ₹400.95 crore at the upper end of the price band. Investors can bid for a minimum of 90 equity shares and in multiples of 90 equity shares thereafter.
The offer is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the net offer shall be available for allocation to non-institutional bidders, and not less than 35% of the net offer shall be available for allocation to retail individual bidders.
About the company
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 approximately 6% of the organized Mangalsutra market in India as of CY23, according to a CareEdge Report.
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