Shringar House of Mangalsutra was founded by Chetan Thadeshwar and Mamta C. Thadeshwar, building on the family’s longstanding background in the goldsmith trade dating back to the late 20th century. Headquartered in Mumbai, the company specialises exclusively in the design and manufacture of Mangalsutras in 18k and 22k gold. With an integrated manufacturing facility and in-house designers, the company caters to a broad B2B clientele, including retailers, wholesalers, and corporate clients across India and select international markets.
IPO schedule
Issue open date
2025-09-10
Issue close date
2025-09-12
UPI mandate deadline
2025-09-12 (5 PM)
Allotment finalization
2025-09-15
Refund initiation
2025-09-16
Share credit
2025-09-16
Listing date
2025-09-17
Mandate end date
2025-09-29
Lock-in end date for anchor investors (50%)
2025-10-05
Lock-in end date for anchor investors (remaining)
2025-12-14
Financials
Financial Year Ended
March 2023
March 2024
March 2025
Total Assets
211.55
265
375.75
Revenue
951.2
1102.7
1430.12
Profit After Tax
23.3
31.1
61.11
Issue size
Funds Raised in the IPO
Amount
Overall
₹400.95 crores
Fresh Issue
₹400.95 crores
Utilisation of proceeds
Purpose
INR crores (%)
Capital expenditure
280 (69.83)
General corporate purposes
100.23 (25%)
Miscellaneous
20.73 (5.17%)
Strengths
Strong relationships with over 15 years of client retention.
Diverse domestic and global B2B customer base.
Specialised in innovative, customised Mangalsutra designs.
Integrated manufacturing with advanced tech and skilled Karigars.
Consistent financial growth with improving profitability margins.
Risks
Inability to protect unique Mangalsutra designs threatens revenue.
Dependence on Promoters for operations may hamper continuity.
Unregistered designs risk imitation by third-party Karigars.
No appraisal for Net Proceeds; utilisation lacks oversight.
Highly concentrated client base impacts revenue stability and visibility.
Allotment Status for Shringar House of Mangalsutra