Shringar House of Mangalsutra IPO GMP Today Stays Strong! Issue Booked 4.3x On Day 2; Should You Subscribe?

Shringar House of Mangalsutra IPO GMP Today: The initial public offering (IPO) of the jewellery manufacturer, Shringar House of Mangalsutra, is receiving a strong response from investors on the second day of its subscription, ie Thursday, September 11. The issue has been subscribed to by around 4.35 times on Thursday so far.

Despite some volatility, Shringar House of Mangalsutra IPO GMP today (Grey market premium today) remained strong and close to its peak level. Its latest IPO GMP today was recorded at Rs 29, according to investorgain.com at 11:59 am.

Shringar House of Mangalsutra IPO GMP Today

Its latest GMP was at Rs 29 which is close to its peak level of Rs 30. The IPO GMP's lowest value is Rs 0. Considering its latest GMP, Shringar House of Mangalsutra IPO listing is expected for Rs 194 per share. An IPO's estimated listing price is calculated by adding its latest GMP and its upper price band. Investors must note that an IPO's GMP is the price that investors are willing to pay for it in the grey market. As GMP is indicated by an IPO demand in unregulated market, it is not accurate and doesn't indicate the actual demand or interest around linked to an IPO.

Shringar House of Mangalsutra IPO Subscription Status Day 2

The issue has been subscribed to 4.35 times on day 2 of the subscription, according to Chittorgarh.com till 12:23 pm. The IPO has been subscribed 5.77 times in the retail category, 0.03 times in the QIB category, 6.75 times in the NII category.

Shringar House of Mangalsutra IPO was subscribed around 2.01 times on day 1. The issue was subscribed around 0.03 times in the QIB category, 6.75 times in the NII category, 5.77 times in the retail category.

Shringar House of Mangalsutra IPO Details

Shringar House of Mangalsutra aims to raise around Rs 400.95 crore. The IPO is a complete fresh issue of Rs 400.95 crore. The company has fixed a price band between Rs 15-165 per share. The minimum lot size to apply for investors is 1, which includes 90 shares. Equivalent to Rs 14,850.

Shringar House of Mangalsutra IPO: Should You Bet?

Brokerage SMIFs Limited, in its IPO note for Shringar House of Mangalsutra, has highlighted the company's strong growth trajectory driven by client base, top-tier financial performance, strategic domestic and global expansion plans. The brokerage has given a 'Subscribe' recommendation for Shringar House of Mangalsutra IPO.

About Shringar House of Mangalsutra

Shringar House of Mangalsutra is a dominant player in the designing and manufacturing of Mangalsutra, a sacred necklace worn by married Hindu women. The company is engaged in designing and producing a wide range of these necklaces, whether they are studded with stones or made of pure gold. The company handles a wide base of clients in the jewellery segment like Tanishq, Joyalukkas, Malabar, Reliance Jewels, Indriya, DP Jewellers, GRT Jewellers, Kalamandir Jewellers, etc.