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
FGLOC to host inaugural Gold Summit in Kochi
Will bring together key industry stakeholders to chart the future roadmap for the gold-loan sector and unlock the potential of gold as a financial asset
The Federation of Gold Loan Companies (FGLOC) will host its inaugural Gold Summit in Kochi on November 17, 2026, bringing together key industry stakeholders to chart the future roadmap for the gold-loan sector and unlock the potential of gold as a financial asset.
The summit aims to strengthen the operational capabilities of gold-loan companies, equipping them to scale efficiently and responsibly. Core discussions will address shared industry challenges while emphasizing corporate governance, regulatory compliance, and sustainable business practices.
Bringing together prominent voices from across the financial ecosystem, the event will examine the evolving role of gold in modern finance, emerging market opportunities, and strategies to expand credit access to underserved populations.
Key areas of deliberation include:
- Policy and regulatory developments
- Responsible lending and consumer protection
- Corporate governance and transparency
- Technological advancements and sustainable growth
Prominent industry leaders scheduled to participate include George Alexander Muthoot, Executive Vice-Chairman of Muthoot Finance; Thomas John Muthoot, Chairman and Managing Director of Muthoot FinCorp; and V.P. Nandakumar, Chairman and Managing Director of Manappuram Finance.
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