Jewellery brand Shringar House of Mangalsutra submitted its DRHP with capital market regulator SEBI in order to raise funds through IPO (Initial Public Offering).
This Shringar House of Mangalsutra IPO consists of only a fresh issue of 2.43 crore equity shares with no offer-for-sale component. According to the DRHP filed on Wednesday, A portion of the share will be reserved for the company’s eligible employees who will receive a discount on the share price.
The proceeds raised through this IPO will be utilized for the company’s working capital requirement and general corporate purposes.
Established in 2009, Shringar House of Mangalsutra is one of the leading manufacturers and designers of Mangalsutra in India. They are involved in the process of designing, manufacturing, and marketing various ranges of mangalsutra using a comprehensive range of stones including American diamond, cubic zirconia, pearl, mother of pearl, and semi-precious stones to the customers. As of now, the business mainly serves B2B business-2-business clients.
The company primarily supplies to a wide range of clients such as Corporate Clients, wholesale jewelers, and retailers across 24 states and 4 union territories. According to the report, In India, Shringar House of Mangalsutra holds 6% of Mangalsutra market. As of December 2024, the company comprises an exceptional design team of 12 employees 182 in-house artisans, and various third-party karigars.
For the six-month period ended on September 30, 2024, the company generated a revenue of ₹6,871.35 million from operations. The Net profit after Tax increased by ₹330.34 million and Return on Net Worth was reached by ₹21.54 million.
The book-running lead manager of this issue is Choice Capital Advisors while the registrar of the public issue is MUFG Intime India.
The shares of Shringar House of Mangalsutra will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Shringar House of Mangalsutra IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Shringar House of Mangalsutra Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2022 | ₹810.80 | ₹783.48 | ₹20.27 |
| 2023 | ₹951.29 | ₹919.86 | ₹23.36 |
| 2024 | ₹1,102.71 | ₹1,060.55 | ₹31.11 |
| September 2024 | ₹687.23 | ₹642.59 | ₹33.03 |
Shringar House of Mangalsutra IPO Valuation – FY2024
Shringar House of Mangalsutra IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹4.39 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 25.65% |
| Net Asset Value (NAV): | ₹19.29 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Utssav CZ Gold Ltd | 7.65 | 28.79 | 44.62 | 20.96 | 340.20 Cr. |
| RBZ Jewellers Ltd | 5.39 | 34.42 | 14.38 | 51.87 | 327.43 Cr. |
| Sky Gold Ltd | 35.18 | 120.00 | 23.66 | 212.15 | 1,745.48 Cr. |
Objects of the Issue
- Funding Working Capital requirements of our Company; and
- General Corporate purposes.
IPO Lead Managers aka Merchant Bankers
- Choice Capital Advisors Private Limited
