National News
Shringar – House of Mangalsutra files IPO papers with SEBI
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
Kalyan Jewellers Invests Rs 350 Crore In Its Wholly Owned Subsidiary Candere
The Company Said The Capital Infusion Is Entirely For Repayment Of The Loan Extended By Kalyan Jewellers To Candere. The Investment Will Also Enable Candere To Repay Or Prepay Certain Outstanding Borrowings.
Jewellery retailer Kalyan Jewellers India Ltd said it has invested Rs 350 crore in its wholly owned subsidiary Candere Lifestyle Jewellery Pvt Ltd through subscription to 17.5 lakh equity shares on a rights issue basis.
Kalyan Jewellers subscribed to 17,50,000 equity shares with a face value of Rs 10 each at a premium of Rs 2,000 per share, taking the total investment to Rs 350 crore. The allotment of the shares was completed on September 19, 2026.
The company said the capital infusion is entirely for repayment of the loan extended by Kalyan Jewellers to Candere. The investment will also enable Candere to repay or prepay certain outstanding borrowings. There will be no change in Kalyan Jewellers’ shareholding in Candere, which will continue to be a 100% wholly owned subsidiary.
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