National News
Shringar House of Mangalsutra IPO subscribed 60.27x
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.
National News
Kangana Ranaut Unveils PNG Jewellers New Showroom In Ayodhya~
The Store Is PNG Jewellers’ 81st Overall and Its Fifth In UP following Lucknow, Kanpur, Gorakhpur and Varanasi.
Member of Parliament and Indian film actor Kangana Ranaut inaugurated PNG Jewellers new store in Ayodhya. The store is PNG Jewellers’ 81st overall and its fifth in UP following Lucknow, Kanpur, Gorakhpur and Varanasi. Located next to Rikabganj Women Police Station, the new store gives Ayodhya customers access to PNG Jewellers’ products, collections, and quality service closer to home.
Dr. Saurabh Gadgil, CMD- PNG Jewellers, said:

“Opening a store in Ayodhya is a special moment for us. We have received an encouraging response from customers across Uttar Pradesh, and we are pleased to bring PNG Jewellers closer to people in and around Ayodhya. We look forward to being part of their weddings, festivals and family celebrations, while offering the legacy, trust and craftsmanship that our brand has stood for over generations.”
Kangana Ranaut added:
“Ayodhya holds a special place in the hearts of so many people, and I am delighted to be here for the opening of PNG Jewellers’ new store. Jewellery is closely woven into how we celebrate our traditions, weddings and important moments with family. I wish the PNG team every success in Ayodhya.’’

The occasion also marks the debut of Ram Katha, an exclusive collection inspired by the Ramayana and the historical, cultural and spiritual heritage of Ayodhya. Launched by Kangana Ranaut, the collection is being introduced in its initial phase across PNG stores in North India

The store also showcases a range of gold, diamond, temple and bridal jewellery for weddings, festive occasions and everyday wear. Customers can explore PNG Jewellers’ collections, including Saptam, Katha, Pratha, Eiina and Polmi, with designs crafted for local tastes.

Ayodhya, revered as the birthplace of Lord Shree Ram, draws people from across the country for its temples, festivals and deeply rooted traditions. Jewellery is closely tied to weddings, festivals and family celebrations in the city. The new store allows PNG Jewellers to serve local customers more conveniently while continuing its expansion in Uttar Pradesh. To celebrate the opening, the brand introduced limited-period inaugural offers of up to 50% off on gold jewellery making charges and up to 100% off on diamond jewellery making charges*, valid till 15th November, 2026.
Adding to the excitement of the festive season, PNG Jewellers brings together its brand ambassadors Madhuri Dixit-Nene and Ranbir Kapoor for the first time in a special festive television commercial. The campaign marks a significant moment, bringing together two of Bollywood’s most iconic stars in a celebration of tradition, elegance and contemporary appeal. This much-awaited collaboration also reflects PNG Jewellers’ vision of connecting its nearly two-century-old legacy with a new generation of consumers.
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