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
Natural Diamond Council Welcomes GJEPC Membership, Strengthening Industry Collaboration
Partnership Strengthens Global Collaboration, Consumer Education, and Category Marketing Efforts For The Natural Diamond Industry
The Natural Diamond Council (NDC) is pleased to announce the membership of the Gem & Jewellery Export Promotion Council (GJEPC), making it the first industry body to progress toward NDC membership under the Luanda Accord framework.
The milestone follows GJEPC’s signing of the Luanda Accord in June 2025 and the Memorandum of Understanding during the second Luanda Accord High-Level Meeting in Cape Town in February 2026. It further reflects GJEPC’s commitment to collective industry action in support of the natural diamond sector.
India sits at the heart of the global natural diamond value chain, spanning everything from cutting and polishing to a rapidly expanding domestic consumer market. As the world’s dominant diamond-processing hub, India cuts and polishes an estimated 90 percent of the world’s diamonds by volume, primarily in Surat, Gujarat.
Representing the country’s gem and jewellery trade, the Gem & Jewellery Export Promotion Council (GJEPC) has played a pivotal role in advancing India’s position as a global leader in the sector through trade promotion, industry development, and international engagement. Against this backdrop, GJEPC’s move toward membership further strengthens industry collaboration at a time when aligned messaging, consumer education, and sustained category marketing are increasingly important to supporting long-term demand for natural diamonds.
Amber Pepper, CEO of the Natural Diamond Council, said:

“We are thrilled to welcome GJEPC as a Member of the NDC, marking an exciting new chapter in our longstanding partnership and a powerful step forward for industry collaboration. India plays a vital role in the global natural diamond value chain, and GJEPC’s membership reflects our shared commitment to driving sustained category marketing, elevating consumer education, and championing the long-term growth and differentiation of natural diamonds.
Together, we are strengthening our collective voice to celebrate the rarity, authenticity, and emotional significance of natural diamonds, inspiring consumers around the world and reinforcing the enduring value of our category.”
Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council added:
“The Natural Diamond Council represents the voice of our industry to consumers globally, and it is important that we collectively support its efforts in the category marketing of natural diamonds, the world’s most coveted gemstone. As a new generation of modern consumers emerges, it is increasingly important that we continue to engage them through meaningful storytelling, inspiration, and education.

This shared vision is what led us to become Members of the NDC and to contribute both strategically and financially to its long-term mission and growth,”
Together, these developments mark a strong step forward for the natural diamond industry as stakeholders across the value chain continue to work collectively to strengthen consumer confidence and support the future growth of the category.
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