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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

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National News

GJC Addresses HUID Data Exposure Issue With BIS, Corrective Measures Are Currently Being Initiated

BIS Care App That  Exposed The Name and Addresses Of Jewellers While Verifying HUID Details .

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The All India Gem and Jewellery Domestic Council (GJC) has successfully intervened following a technical anomaly on the BIS Care App that  exposed the name and addresses of jewellers while verifying HUID details .

Over the past few days, the BIS Care App was found to be displaying the names and addresses of individual jewellers during routine Hallmark Unique Identification (HUID) verifications. Recognizing the privacy implications for its members, GJC immediately escalated the matter to the highest appropriate levels within the Bureau of Indian Standards (BIS).

Upon receiving GJC’s representations, BIS officials acknowledged the discrepancy. The Bureau clarified that such operational details are strictly intended to be visible only for corporate jewellers who have voluntarily opted into the ‘Transfer HUID’ module under the current BIS framework. The data exposure was not intended for general registered jewellers.

GJC has been assured that BIS has escalated the issue internally. Corrective measures are currently being initiated on a priority basis, and the technical glitch is expected to be fully resolved at the earliest.

GJC remains fiercely committed to safeguarding the interests of the domestic jewellery trade the Council stated, reaffirming its dedication to ensuring that members’ operational concerns are promptly and effectively represented before regulatory authorities.

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