National News
Shringar House of Mangalsutra Ltd. IPO Subscribed 2X ON Day 1
IPO received bids for 3,41,36,370 shares against the 1,70,16,000 shares on offer
Shringar House of Mangalsutra Ltd, India’s largest and most trusted name in Mangalsutra manufacturing, has witnessed an overwhelming response to its Initial Public Offering (IPO), which was fully subscribed within hours of opening for bidding on Wednesday. By the end of Day 1, the IPO was subscribed 2.01 times, reflecting strong investor confidence in the company’s growth story and leadership in the jewellery sector.
The IPO received bids for 3,41,36,370 shares against the 1,70,16,000 shares on offer, according to data available with NSE.
The Retail Individual Investors (RIIs) portion was subscribed 2.83 times. Non-Institutional Investors (NIIs) subscribed their portion 2.70 times.
Earlier, Shringar House of Mangalsutra successfully raised ₹120.18 crore from anchor investors on Tuesday, setting a strong foundation for the public issue.
The IPO, with a price band of Rs.155 to Rs.165 per share, will remain open for subscription until September 12, 2025. It is a fresh issue of 2.43 crore equity shares, aggregating up to Rs.401 crore at the upper end of the price band. The entire issue is fresh equity, with no Offer for Sale (OFS) component. Proceeds will be utilised towards supporting working capital requirements and general corporate purposes.
Since decades, Shringar House of Mangalsutra has established itself as the pioneer and leader in Mangalsutra manufacturing, offering a diverse portfolio crafted in 18k and 22k gold and adorned with cz diamonds, cubic zirconia, pearls, mother of pearl, and semi-precious stones. The company primarily caters to business-to-business (B2B) clients and, as per CareEdge Research, holds about 6% of India’s organised Mangalsutra market as of 2023.
The IPO is being managed by Choice Capital Advisors as the sole Book Running Lead Manager, while MUFg Intime India Pvt Ltd is acting as the Registrar to the Issue.
National News
KISNA Diamond and Gold Jewellery Rolls Out Nationwide ‘Shop Sparkle Win’ Campaign Across 218 Cities, With 823 Vehicles Up For Grabs
The campaign will run through the first week of December 2026, with customers eligible to participate on diamond jewellery purchases worth ₹25,000 and gold jewellery purchases worth ₹75,000
KISNA KISNA Diamond and Gold Jewellery, one of India’s foremost jewellery brands, has rolled out its nationwide KISNA Shop Sparkle Win Campaign ’26 across 218 cities in 24 states, offering customers the opportunity to win 823 vehicles, comprising 247 cars and 576 scooters, during the festive season.
Customers receive one lucky draw coupon on diamond jewellery purchases worth Rs. 25,000 and one coupon on gold jewellery purchases worth Rs. 75,000. The campaign comprises three lucky draws and will continue through the first week of December 2026, culminating in the final draw for the car prizes.
Timed around one of the country’s key jewellery-buying periods, Shop Sparkle Win adds an element of excitement to festive purchases. Eligible coupon holders are invited to their respective KISNA stores, where winners are selected through a live ballot process, bringing the celebration closer to customers across markets.
Speaking on the campaign, Ghanshyam Dholakia, Founder & Managing Director, Hari Krishna Group, said,
“Festivals are moments when families come together to celebrate traditions, relationships and new beginnings, and jewellery has always been an integral part of these occasions. At KISNA, we have consistently looked at ways to make these moments more memorable and rewarding. Following the strong response to our previous Bumper Lucky Draw, KISNA Shop Sparkle Win Campaign ’26 takes this approach forward at a wider scale, enabling us to celebrate with customers across the country.”
Parag Shah, CEO, KISNA Diamond & Gold Jewellery, added,
“Jewellery purchases today are shaped not only by design and craftsmanship, but also by the value, flexibility and assurance customers receive through the buying journey. Our proposition addresses these considerations through initiatives such as the Gold Rate Protection Scheme, old gold exchange options and our diamond jewellery buyback programme. Customers can avail up to 95% exchange value on diamond jewellery, including making charges, providing greater flexibility and long-term value beyond the initial purchase.”
The campaign is being amplified through BTL activations, social media and digital campaigns across markets. Building on KISNA’s earlier customer reward initiatives, including the Bumper Lucky Draw and #Shop_Sparkle_Win reflects the brand’s continued focus on strengthening its retail proposition and creating more engaging jewellery-buying experiences across India.
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