Shringar House Of Mangalsutra Limited IPO is fully book build issue and total IPO size is 2.43 crore shares. The total offering consists of fresh issue of 24300000 shares.
The dates for the Shringar House Of Mangalsutra IPO have not been announced yet.
The allotment process is expected to be finalized by [.]. The Shringar House Of Mangalsutra IPO is scheduled to list on BSE, NSE, with a tentative listing date of [.].
The price band for the Shringar House Of Mangalsutra IPO has not been announced yet.
Registrar for this IPO is MUFG Intime India Private Limited (formerly known as Link Intime Private Limited) and lead managers for Shringar House Of Mangalsutra IPO are Choice Capital Advisors Private Limited.
IPO Schedule
| IPO Open Date | - |
|---|---|
| IPO Close Date | - |
| IPO Allotment Date | - |
| Refund Initiation | - |
| Share credit in Demat | - |
| Listing Date | - |
Key Details
| Price Band | TBA |
|---|---|
| Lot Size | TBA |
| Face Value | ₹10 Per Equity Share |
| Total Issue Size | 24,300,000 Shares |
| Fresh Issue | 24,300,000 Shares |
| Issue Type | Fresh Issue |
| Listing At | BSE, NSE |
Share Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | 50% |
| Retail | 35% |
| NII/HNI | 15% |
About Shringar House Of Mangalsutra Company
Shringar House of Mangalsutra Limited (SHOML) is a leading Indian designer and manufacturer of Mangalsutras, contributing approximately 6% to the organized market in CY23. SHOML specializes in crafting Mangalsutras in 18k and 22k gold, adorned with American diamonds, cubic zirconia, pearls, and semi-precious stones.
The company offers over 10,000 active SKUs across 15 collections, catering to diverse occasions and preferences, from traditional to contemporary designs. SHOML serves a wide range of B2B clients, including corporate clients, wholesale jewellers, and retailers across 24 states and 4 union territories in India, as well as international clients in the UK, New Zealand, UAE, USA and Republic of Fiji.
SHOML's revenue from operations has grown consistently, reaching ₹11,01.52 crore in Fiscal 2024, representing a 15.92% year-on-year increase. With a dedicated in-house design team and manufacturing facility in Mumbai, SHOML integrates traditional craftsmanship with modern aesthetics to meet the evolving needs of the Mangalsutra market. The company is well-positioned for future growth, driven by increasing demand for customized and personalized jewellery and a strong footprint in domestic and international markets.
Shringar House Of Mangalsutra Financial Details
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 371.48 | 265.21 | 111.55 | 195.47 |
| Revenue | 687.23 | 1,102.71 | 951.29 | 810.8 |
| Profit After Tax | 33.03 | 31.11 | 23.36 | 20.27 |
| Net Worth | 169.87 | 136.85 | 105.72 | 82.36 |
| Reserves and Surplus | 158.75 | 125.72 | 94.62 | 71.26 |
| Total Borrowing | 137.91 | 110.09 | 93.19 | 97.8 |
₹ In Crore
Key Performance Indicator
| Basic EPS (in ₹) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt-Equity Ratio | Return on Equity (ROE) | Return on Capital Employed (ROCE) |
|---|---|---|---|---|---|
| 4.39 | 25.65% | 19.29 | 0.80 | 25.65% | 21.52% |
Offer Objectives
The IPO involves a fresh issue of up to 24.3 million equity shares with a face value of ₹10 each. The company plans to utilize the net proceeds for funding working capital requirements and general corporate purposes.
Shareholding Details:
Prior to the issue, the promoters collectively held 72,131,280 equity shares, representing 99.99% of the pre-issue equity share capital. Key shareholders include:
- Chetan N Thadeshwar: 40,265,600 shares (55.82%)
- Mamta C Thadeshwar: 20,852,000 shares (28.91%)
- Viraj C Thadeshwar: 5,506,040 shares (7.63%)
- Balraj C Thadeshwar: 5,506,040 shares (7.63%)
Objects of the Issue:
The company proposes to utilize ₹2,500 million (₹250 crore) from the net proceeds to fund its working capital requirements in Fiscal 2026. The funds are crucial for managing increased inventory and trade receivables due to business growth. The remaining funds will be used for general corporate purposes, not exceeding 25% of the gross proceeds.
The company's working capital requirements are driven by its business model, which requires upfront payment for raw materials and holding sufficient inventory. The Mangalsutra market in India is expected to grow, necessitating increased working capital.
There are no buy-back arrangements, and the BRLM does not hold any equity shares in the company.
Company Details
Address:
Unit No. B -1, Lower Ground Floor, Jewel World,
175, Kalbadevi Rd, Bhuleshwar, Mumbai 400 002,
Maharashtra, India
Phone: +91 90044 29107
Email: [email protected]
Website: http://www.shringar.ms
IPO Registrar Details
MUFG Intime India Private Limited
Phone: +91 81081 14949
Email: [email protected]
Website: http://www.linkintime.co.in
Offer Prospectus & Documents
Lead Managers
- Choice Capital Advisors Private Limited
