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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

MCX Precious Metals Face Notable Selling Pressure

Precious Metals Extended Losses As A Stronger U.S. Dollar and Rising Fed Rate-Hike Expectations Weighed On Investor Sentiment.

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The selloff mirrored a broader rout in international markets. On India’s Multi Commodity Exchange (MCX), precious metals faced notable selling pressure during early morning trading on Thursday, June 25.

MCX Market Snapshot

CommodityContractPriceChangeSpot Price
MCX Gold FuturesAugustRs P1,40,749 per 10 gm-0.37%Rs 1,41,814 per 10 gm (+0.22%)
MCX Silver FuturesJulyRs 2,10,801 per kg-1.07%Rs 2,14,200 per kg

The selloff mirrored a broader rout in international markets, where gold touched levels not seen in over half a year.

Gold prices retreated on Thursday morning, pressured by a resurgent U.S. dollar as investors increasingly priced in aggressive Federal Reserve monetary tightening. The downward momentum has pushed safe-haven bullion toward multi-month lows across major global exchanges.

International Gold Market

IndicatorPriceMovement
U.S. Spot Gold$3,985.89/ozDown 0.4%
U.S. Gold Futures (August)$3,979.27/ozLower amid macro pressures

U.S. Spot Gold fell 0.4% to $3,985.89 per ounce in early trading. This followed a bruising Wednesday session where the metal carved out a fresh seven-month low, marking its weakest performance since November 2025.

U.S. Gold Futures for August delivery similarly buckled under macro pressures, dropping to $3,979.27 per ounce.

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