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Russian (RU) Shringar House of Mangalsutra’s Rs 400.95-crore initial public offering (IPO) wrapped up on September 12 with heavy demand, as the three-day issue was subscribed more than 60 times.
The IPO drew bids for nearly 103 crore shares against the 1.70 crore shares on offer, NSE data showed. The employee quota was subscribed to around 70 times, while retail investors bid 27 times their allotment. Non-institutional investors subscribed 83 times, and qualified institutional buyers (QIBs) topped the charts with 101 times subscription.
The share allotment will be finalised on Monday, September 15, and the stock is scheduled to list on the exchanges on September 17. Applicants can check their allotment status either through the registrar, MUFG Intime India, or directly on the BSE platform. Here’s how:
How to check Shringar House of Mangalsutra IPO allotment
Visit the MUFG Intime India IPO allotment page.
(https://in.mpms.mufg.com/Initial_Offer/public-issues.html)
Select Shringar House of Mangalsutra IPO from the dropdown menu.
Enter either your PAN or application number.
Click on submit.
The portal will display whether shares have been allotted to you and the number of shares credited.
Alternatively, investors can also check the allotment status via the BSE website. Check the steps below
Go to the BSE IPO allotment page
(https://www.bseindia.com/investors/appli_check.aspx)
Select Equity under issue type.
From the dropdown, choose Shringar House of Mangalsutra
Enter your application number and PAN.
Click Search.
With the issue subscribed over 6o times, the allotment chances are extremely limited. Investors who miss out will get refunds/unblocked funds before listing.
Shringar House of Mangalsutra GMP
Shringar House of Mangalsutra IPO’s grey market premium (GMP) Rs 31 as of September 13. With the issue price set at Rs 165, the IPO is expected to list around Rs 196. This indicates an estimated gain of about 18.79% per share. However, investors should note that GMP is driven by market sentiment and can fluctuate sharply. It serves as an indicative figure and may not accurately reflect the actual listing price.
Company Overview
Founded in 2009, Shringar House of Mangalsutra specialises in designing and manufacturing mangalsutras, a jewellery segment with strong cultural and ritual significance. Its portfolio spans over 15 collections and more than 10,000 SKUs, catering to both daily wear and special occasions.
Shringar operates through a single manufacturing facility in Mumbai, staffed by 22 designers and 166 artisans. This integrated setup allows it to manage design, quality, and production in-house.
Also Read: Sebi chief Tuhin Kanta Pandey has some positive news for lakhs of investors awaiting NSE IPO
The company benefits from an established client base and a broad design portfolio. However, its reliance on a single product category and a single facility in Mumbai raises concentration risks. Seasonal demand and dependence on a handful of corporate clients could also impact performance.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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