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Shringar – House of Mangalsutra files IPO papers with SEBI

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Leading mangalsutra  brand Shringar House of Mangalsutra has filed IPO papers with SEBI to raise   *Rs 250 crore* for working capital & general corporate purposes. The IPO is entirely a fresh issue of *2.43 crore equity shares.

Financial Performance

Fiscal 2024 Revenue: ₹1,101.52 crore (up 16% from ₹950.22 crore in FY23)

* Profit After Tax (PAT) for FY24: ₹31.10 crore (up 33% from ₹23.36 crore in FY23)

H1 FY25 (as of September 30, 2024)

Revenue: ₹687.13 crore

PAT: ₹33.03 crore

National News

IAGES Brings Together Accredited Gold Industry Stakeholders At Trust Circle 2026

Trust Circle 2026 Connects Gold Industry Stakeholders To Strengthen Trust, Transparency and Responsible Practices

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The Indian Association for Gold Excellence and Standards (IAGES) hosted its Trust Circle 2026 event at The Oberoi, New Delhi, bringing Accredited Partners and stakeholders from across the gold value chain together for an evening centred on trust, transparency and responsible practices in the sector.

The event drew representatives from diverse segments of the gold ecosystem, including refining, bullion trading, manufacturing, assaying and hallmarking, retail and digital investment gold – reflecting the breadth of IAGES’s growing Accredited Partner network.

Cedrick Charles Crowley, Deputy High Commissioner of South Africa to India, attended as Chief Guest alongside Sachin Jain – Regional CEO India, World Gold Council and Kaushlendra Sinha – CEO, IAGES, lending an international perspective to the evening. Conversations through the evening centred on peer-to-peer dialogue, the evolving needs of the gold sector, and the role of consistent standards in strengthening the ecosystem – with stakeholders exchanging perspectives on what responsible practice looks like across different parts of the value chain.

Kaushlendra Sinha – CEO, IAGES said:

“Trust across the gold value chain is strengthened when stakeholders come together, share experiences and work towards a common understanding of excellence and responsible practices. Trust Circle was created to facilitate precisely this kind of industry engagement. The participation of our Accredited Partners reflects the value of coming together as an ecosystem, and we look forward to building on these conversations as the IAGES network continues to expand.”

As the Indian gold industry evolves, platforms that connect different segments of the value chain help encourage greater exchange of knowledge and best practices, and Trust Circle gave Accredited Partners the opportunity to build stronger professional connections within the network.

The evening concluded with cocktails and dinner, giving Accredited Partners and invited guests further opportunity to network.

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