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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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Turn Digital Gold into Jewellery Across Senco’s 189+ showrooms:  Senco Gold & Diamonds Partners With Gullak

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Senco Gold & Diamonds, a leading pan-India jewellery retailer with a legacy spanning over 87 years, and the largest jewellery retail player in Eastern India by number of showrooms with a whooping count of 189+showrooms, announced a significant step towards entering a strategic collaboration with Gullak.  Gullak and Senco Gold & Diamonds have partnered to enable Gullak users to redeem their accumulated digital gold against jewellery purchases at Senco Gold & Diamonds elaborate network of retail showrooms across India.

Gullak is an Indian digital gold savings and investment platform that makes gold savings simple, accessible, and technology driven. The platform enables customers to invest in 24K, 99.9% pure digital gold through flexible savings options, including daily, weekly, and monthly SIPs, one-time investments, and automated savings plans.

Commenting on this Suvankar Sen (MD & CEO, Senco Gold & Diamonds), said:

“Jewellery is deeply woven into the aspirations and milestones of Indian consumers, and as consumer behaviour evolves, we see an increasing opportunity to make the journey of owning jewellery more accessible, convenient and digitally enabled. Our partnership with Gullak brings together its innovative digital gold savings ecosystem with Senco Gold & Diamonds trusted retail presence, creating a seamless bridge between saving and jewellery ownership”.

Commenting on this, Dilip Jain (Co-Founder- Gullak) said:

“Gullak is building a new generation of gold buyers – Customers who accumulate gold digitally and consistently but ultimately want the freedom to turn those savings into jewellery. Partnering with Senco Gold & Diamonds, one of India’s most trusted jewellery brands with a legacy spanning over eight decades, is a major step in making that promise real at scale. Gullak users can now redeem the gold they have accumulated at any of Senco’s 189+ stores across India.

This partnership brings together the convenience of digital gold accumulation with the trust, craftsmanship and nationwide retail presence of one of India’s most established jewellery houses.”

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