The initial public offering (IPO) of Shringar House of Mangalsutra has garnered significant investor interest, with the issue being oversubscribed 8.24 times after two days of bidding. The Rs 401 crore IPO, which closes on Friday, has seen robust demand across investor categories.

Subscription Details

• Retail Investors: Subscribed 9.62 times their allocated portion
• Non-Institutional Investors: Subscribed 14.81 times their allocated portion
• Qualified Institutional Buyers: Secured 86% of their allocated shares

IPO Highlights

• Issue Price: Rs 155-165 per share
• Fresh Issuance: 2.43 crore equity shares
• Anchor Investment: Rs 120 crore secured from anchor investors

Grey Market Performance

The IPO is currently trading at a grey market premium of approximately 17% over the issue price of Rs 165. This indicates a potential listing price of around Rs 193.

Company Overview

Founded in 2009, Shringar House of Mangalsutra specializes in mangalsutra manufacturing. The company boasts:

• Over 15 collections
• 10,000 SKUs (Stock Keeping Units)
• Presence in 24 states and international markets
• Notable clients including Titan, Malabar Gold, and GRT Jewellers

Financial Performance

Valuation

Based on earnings, the stock is valued at a price-to-earnings (P/E) ratio of 26x.

Listing Details

• Expected Listing Date: September 17
• Exchanges: National Stock Exchange (NSE) and Bombay Stock Exchange (BSE)

The strong oversubscription and grey market premium suggest robust investor interest in Shringar House of Mangalsutra's IPO. As the final day of bidding approaches, all eyes will be on the ultimate subscription figures and the company's stock market debut.

Shringar House of Mangalsutra, a prominent jewellery manufacturer specializing in mangalsutra production, has seen its Initial Public Offering (IPO) fully subscribed on the first day of bidding. The Rs 401.00 crore IPO garnered significant interest from investors, with the overall subscription reaching 1.06 times by 1:30 PM on the opening day.

Subscription Details

The IPO, which is set to close on September 12, has witnessed strong demand across various investor categories:

• Retail investors led the charge with a 1.59 times subscription
• The employee portion was oversubscribed by an impressive 5.40 times

IPO Specifics

• Price Band: Rs 155.00-165.00 per share
• Total Issue Size: Rs 401.00 crore
• Anchor Investment: Rs 120.00 crore secured from anchor investors
• Expected Listing Date: September 17 on both NSE and BSE

Grey Market Performance

The company's shares are currently trading at a 16% premium in the grey market, indicating strong investor interest and positive sentiment towards the IPO.

Company Overview

Shringar House of Mangalsutra has established itself as a key player in the jewellery manufacturing sector, with a focus on mangalsutra production. The company serves a diverse clientele, including renowned names such as:

• Titan
• Malabar Gold
• GRT Jewellers

Their operations span across 24 states in India and extend to international markets.

Financial Performance

The company has demonstrated robust financial growth:

Valuation

Based on the latest earnings, the stock is valued at a Price-to-Earnings (P/E) ratio of 26x.

Brokerage Recommendations

Several brokerage firms have recommended subscribing to the IPO, citing:

• Strong financial growth
• Attractive valuations

Investors are advised to conduct their own research and consider their risk appetite before making investment decisions.

The successful first day of bidding and the grey market premium suggest a positive outlook for Shringar House of Mangalsutra's market debut. However, as with all investments, market conditions and company performance will ultimately determine the stock's long-term performance.