National News
Shringar House of Mangalsutra collaborates with IIGJ to launch a national-level design competition
Shringar House of Mangalsutra, India’s leading gold jewellery manufacturer and the pioneer in mangalsutra designs, is proud to announce its strategic partnership with the Indian Institute of Gems & Jewellery (IIGJ). The collaboration includes the signing of a Memorandum of Understanding (MoU) to host a national-level design competition for IIGJ students.
This initiative aims to encourage creativity among budding jewellery designers while preserving and evolving the art of mangalsutra design. It provides students with a platform to showcase their skills and gain recognition from industry leaders. The winners from both categories will not only gain recognition but also have their designs manufactured in the Shringar factory, ensuring the designs are brought to life with highest quality standards.
National News
Deepa Jewellers Lists At Rs 221, A 25% Premium
The Offer Was Subscribed 42.61 Times, Led By Non-Institutional Investors (105.96x), Qualified Institutional Buyers (37x), and Retail Investors (18.55x)
Shares of Hyderabad-based Deepa Jewellers made a strong stock market debut on Sept. 8, listing at a nearly 25% premium to their issue price following high demand for its Rs 459.72-crore ($55 million) initial public offering.
The stock opened at Rs 221 on the National Stock Exchange (NSE) and Rs 221.05 on the BSE, compared to the offer price of Rs 177.
Oversubscribed: The offer was subscribed 42.61 times, led by non-institutional investors (105.96x), qualified institutional buyers (37x), and retail investors (18.55x).
Capital Deployment: Proceeds from the Rs 250-crore fresh issue component will primarily fund long-term working capital (Rs 215 crore) to scale inventory. The IPO also included an offer for sale worth Rs 209.72 crore.
Financials: The B2B 22-carat gold jewellery supplier reported FY26 revenue of Rs 1,926.68 crore, up from Rs 1,397.01 crore in FY25. Net profit surged 158% year-on-year to Rs 104.79 crore.
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