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 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

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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.

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National News

Bhima Gold Unveils Ashtalakshmi Coin Collection for Akshaya Tritiya, Blending Devotion with Exquisite Design

A culturally rooted, insight-led launch that reimagines festive gold buying through storytelling, symbolism, and spiritual relevance.

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In a move that blends cultural storytelling with product innovation, Bhima Gold has unveiled its Ashtalakshmi Coin Collection for Akshaya Tritiya – positioning gold not just as a purchase, but as a deeply symbolic expression of prosperity, faith, and intent.

Timed with one of India’s most significant gold-buying occasions, Akshaya Tritiya, the launch reflects a deeper cultural shift in consumer behaviour. While the festival continues to drive strong purchase intent, there is a growing preference for meaningful, purpose-led buying experiences over purely transactional consumption.

Aligned with this evolving mindset, the Ashtalakshmi coin collection has been thoughtfully conceptualised to blend tradition with deeper symbolism. Inspired by the eight sacred forms of Goddess Lakshmi, each coin represents a distinct dimension of prosperity—from wealth and nourishment to courage, knowledge, and continuity.

By bringing together Adi Lakshmi, Dhana Lakshmi, Dhanya Lakshmi, Gaja Lakshmi, Santana Lakshmi, Veera Lakshmi, Vijaya Lakshmi and Vidya Lakshmi, the collection reframes gold coins from being a generic festive purchase to a story-driven, culturally immersive product experience – one that resonates across generations and belief systems.

This launch also aligns with Bhima Gold’s larger centenary narrative of “Together Purever,” which focuses on legacy, shared traditions, and evolving consumer meaning. The collection becomes an extension of that philosophy – reinforcing how heritage brands are reinterpreting tradition for a more aware and emotionally driven consumer.

Customers can pre-book their favourite jewellery by paying just 10% in advance & get their jewellery on Akshaya Tritiya at the lowest rate, which gives customers more flexibility and helps them plan their purchases with greater confidence, especially at a time when gold prices are high.

Akshaya Tritiya has traditionally been associated with intention, belief, and the aspiration for prosperity, extending beyond a purely transactional act of buying gold. The Ashtalakshmi Coin Collection has been conceptualised to reflect this deeper cultural and spiritual significance, with each coin designed to carry a distinct meaning and sense of purpose. The initiative also aligns with evolving consumer preferences, where there is a noticeable shift towards jewellery that offers emotional, cultural, and spiritual resonance in addition to intrinsic value.

With gold prices near record highs and consumer sentiment becoming more considered, Bhima’s Ashtalakshmi Coin Collection signals a broader shift in the category — from price-led promotions to meaning-led engagement, where design, storytelling, and cultural relevance drive both differentiation and demand.

As legacy brands navigate a new era of conscious consumption, Bhima Gold’s latest offering highlights how tradition can be reimagined as experience, making gold buying not just an act of investment, but an expression of identity and belief.

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