The initial public offering of Shringar House of Mangalsutra continued to see strong investor interest on its third and final day of public bidding on September 12. The Rs 400.95-crore issue closed on Day 3 after being subscribed more than 60 times its offer size.

The IPO received bids for nearly 103 crore shares, as against the offer size of 1.70 crore shares, according to data on NSE. Employees have subscribed their reserved portion nearly 70 times. Retail investors and Non-Institutional Investors (NII) booked the portions kept for them 27 times and 83 times respectively. Qualified Institutional Buyers (QIB) have subscribed their reserved portion a whopping 101 times.

The IPO got off to a quick start, fully subscribed within hours of opening. Shringar House of Mangalsutra on Day 1 received an overall subscription of 2.01 times. Retail investors subscribed their portion 2.84 times.non-institutional investors followed with a 2.70 times subscription. However, qualified institutional buyers (QIBs) showed almost no participation, with their category booked at just 0.01 times.

Ahead of listing, the unlisted shares of the company were trading with a grey market premium (GMP) of 20 percent over the IPO price at Rs 198 apiece.

Talking of the financial performance of the company, the revenue of Shringar House of Mangalsutra rose to Rs 1,430 crore in FY25, up from Rs 1,101 crore in FY24. Moreover, the net profit doubled to Rs 61 crore from Rs 31 crore in the same period.