Urban Company, Shringar House of Mangalsutra IPOs From Sept. 10

Urban Company announced a price band of Rs 98 to Rs 103 per equity share of Rs 1 face value for Rs 1900 crore public offer. The public offer is a mix of fresh issue worth Rs 472 crore and an offer for sale of Rs 1428 crore by investor selling shareholders. The company proposes to utilise net proceeds from fresh issue for new technology development and cloud infrastructure(Rs 190 crore), lease payments for its offices(Rs 75 crore), marketing activities( Rs 90 crore) and rest for general corporate purposes.

Shringar House of Mangalsutra has fixed the price band for the public issue at Rs 155 to Rs 165 per equity share of Rs 10 face value for Rs 400.95 crore public offer at the upper price band. The entire public offer is a fresh issue. The net proceeds up to Rs 280 crore from the public issue will be used for working capital requirements and remaining for general corporate purposes. Incorporated in 2009, the company is engaged in designing, manufacturing and marketing a diverse range of mangalsutras in 18 karat and 22 karat gold. The company primarily serves its business-to-business B2B clients with 6 per cent of the organised mangalsutra market as of CY2023. Both IPOs close on Sept.12, 2025.