Shringar House Secures Rs 120.00 Crore from Anchor Investors Ahead of IPO
Shringar House of Mangalsutra, holding 6% of India's organized mangalsutra market, has raised ₹120 crore from anchor investors before its IPO launch. The company allocated 72.84 lakh shares at ₹165 per share to investors including Societe Generale and Kotak Mahindra Life. The IPO, opening on September 10, aims to raise ₹401 crore through a fresh issue of 2.43 crore equity shares, priced between ₹155-165 per share. Shringar House specializes in 18k and 22k gold mangalsutras, serving clients across 24 Indian states and internationally, including notable names like Malabar Gold and Titan Company.
*this image is generated using AI for illustrative purposes only.
Shringar House of Mangalsutra, a prominent player in India's organized mangalsutra market, has successfully raised Rs 120.00 crore from anchor investors as it prepares to launch its Initial Public Offering (IPO). This development marks a significant milestone for the company, known for its design and manufacture of mangalsutras in 18k and 22k gold.
Anchor Investment Details
The company allocated 72.84 lakh shares to anchor investors at Rs 165.00 per share, which is at the upper end of the IPO price band. The anchor book saw participation from a diverse group of institutional investors, including:
- Societe Generale
- Kotak Mahindra Life
- Maybank Securities Pte
- AIDOS India Fund
- Nav Capital VCC
- Founders Collective Fund
IPO Specifics
The upcoming IPO for Shringar House is scheduled to open on September 10. Here are the key details:
| Aspect | Details |
|---|---|
| Price Band | Rs 155.00-165.00 per share |
| Issue Size | Fresh issue of 2.43 crore equity shares |
| Fundraising Target | Rs 401.00 crore |
Company Overview
Shringar House of Mangalsutra has established itself as a significant player in the Indian jewelry market:
- Market Share: Holds 6.00% of India's organized mangalsutra market
- Product Range: Specializes in designing and manufacturing mangalsutras in 18k and 22k gold
- Market Reach: Serves clients across 24 states in India and has an international presence
- Notable Corporate Clients:
- Malabar Gold
- Titan Company
- GRT Jewellers
- Reliance Retail
The successful anchor book building process and the participation of renowned institutional investors suggest a positive outlook for Shringar House's upcoming IPO. As the company prepares to go public, investors and market watchers will be keenly observing its performance and growth prospects in the competitive Indian jewelry market.
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