Shringar House of Mangalsutra Limited, a company renowned for designing, manufacturing, and marketing a wide range of Mangalsutras, made a robust debut on the stock exchanges, closing its first trading day at a healthy premium. The stock listed at ₹187.7 on the BSE and ₹188.5 on the NSE, and quickly gained traction among investors with significant upside movement. By the end of the day, the share price closed at ₹184.85 on the BSE, reflecting a 12% premium, and at ₹187 on the NSE, marking a 13.3% premium over the issue price.
According to NSE data, a total of 232.83 lakh shares were traded, while BSE recorded 23.2 lakh shares, taking the combined Day 1 turnover to ₹476.95 crore. At closing prices, the company’s market capitalisation stood at ₹1,782.55 crore on the BSE and ₹1,803.28 crore on the NSE, underscoring strong investor confidence in the brand’s growth potential and positioning in India’s jewellery sector.
The company had offered Rs 400.95 crore issue for subscription from September 10 to September 12. This garnered substantial interest, and the offer was subscribed 60.3 times. Qualified Institutional Investors Portion and Non-institutional investor portion were subscribed 101.41 times and 82.58 times respectively. Retail Investors Portion was subscribed 27.2 times.
Shringar House of Mangalsutra Ltd was incorporated in 2009, 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.
Shringar House of Mangalsutra caters to a wide array of clients, including Corporate Clients, wholesale jewellers, and retailers across 24 states and 4 union territories in India. Beyond its domestic market, the company has expanded its presence internationally, serving clients in the UK, New Zealand, the UAE, the USA, and the Republic of Fiji. Its marquee Corporate Clients include Malabar Gold Limited, Titan Company Limited, GRT Jewellers India Private Limited, Reliance Retail Limited, Novel Jewels Limited (Aditya Birla Group), Joyalukkas India Limited, and international names like Goldbox Enterprises Limited (UK), Sona Sansaar Limited (New Zealand), and Damas Jewellery LLC (UAE). As on March 31, 2025, the company served 34 corporate clients, 1089 wholesalers, and 81 retailers.
In addition to its core business, Shringar House of Mangalsutra also manufactures and supply Mangalsutras on a job-work basis to their Corporate Clients. For the Fiscals 2025, 2024, and 2023, The company processed a total of 1,320.72 kgs, 1,221.19 kgs and 870.26 kgs of bullion into Mangalsutras.
The company has an extensive portfolio of Mangalsutras, featuring over 15 collections and more than 10,000 active SKUs, offering designs for special occasions like weddings, festivals, and anniversaries, as well as everyday wear. Its collections include antique, bridal, traditional, contemporary, and Indo-western styles, catering to women of all ages with varying price points and weights.
As of June 30, 2025, Shringar House of Mangalsutra employed a dedicated in-house design team of 22 full-time employees focused on creating innovative designs that reflect the latest trends, customer preferences, and demographic needs. Additionally, the company works with 166 in-house Karigars (artisans) and collaborates with a network of third-party Karigars to meet the growing demand for its products.
