New Delhi, September 17 (Read): Jewellery maker Shringar house of mangalsutra made a strong debut on the stock market today, rewarding its IPO investors with early gains.

The company had issued its shares at ₹165 per share in the IPO. On listing day, the stock opened at ₹187.70 on the BSE (a 14% premium) and ₹188.50 on the NSE. After listing, buying support pushed the stock up to ₹191before selling pressure pulled it down to ₹182.70. By 11 amthe stock was trading at ₹184.40giving IPO investors a return of 11.76%.

IPO Subscription and Fund Use

Shringar house of mangalsutra’s ₹401 crore IPO was open for subscription between September 10 and 12 and received a strong response, with an overall subscription of 60.29 times. A day before the IPO opened, the company also raised ₹120.18 crore from anchor investors.

The IPO included issuance of ₹2.43 crore worth of fresh shares. Proceeds from the fresh issue will be used to meet working capital requirements and for general corporate purposes.

Financial Performance

According to the company’s prospectus, its financial performance has shown steady growth:

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  FY 2022-23: Net profit of ₹23.36 crore

  
  


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  FY 2023-24: Net profit rose to ₹31.11 crore

  
  


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  FY 2024-25: Net profit surged to ₹61.11 crore

  
  

As for reserves and surplus, the company reported:

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  ₹94.62 crore at the end of FY 2022-23

  
  


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  Increased to ₹125.72 crore by the end of FY 2023-24

  
  


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  Slightly declined to ₹123.72 crore by the end of FY 2024-25

  
  

Bhupendra singh chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur kiranhis insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.