IPO listing: Shringar House of Mangalsutra shares surge 16% post debut; Dev Accelerator rises 5%

The primary market witnessed a flurry of initial public offering (IPO) listings on Wednesday, with three companies - Urban Company, Shringar House of Mangalsutra, and Dev Accelerator - making their debut on the BSE and NSE today.

While Urban Company stole the spotlight with a strong listing at a 57.5% premium, marking the best mainboard debut of 2025, Shringar House of Mangalsutra also saw healthy investor interest, with shares climbing 13.75% on listing. Dev Accelerator shares debuted at a 5% premium over their issue price.

Shares of Shringar House of Mangalsutra kicked off trading at ₹187.70 on the BSE against the IPO price of ₹165 apiece. On the other hand, Dev Accelerator shares started trading at ₹61.30, up 4.9% over the issue price of ₹61 on the BSE.

Post listing, Shringar House of Mangalsutra shares gained as much as 15.75% to hit a high of ₹191 on the BSE, with its market capitalisation rising to ₹1,780 crore. Shares of Dev Accelerator surged 5.5% to touch a high of ₹64.36, while its market cap climbed to ₹580.45 crore.

Meanwhile, the BSE benchmark Sensex was trading 268 points higher at 82,648, and the NSE Nifty rose 87 points to 25,322.

Analysts attributed the positive market debut of all three IPOs to robust subscription demand as well as a bullish trend in the secondary market. Equity market sentiment was further lifted by optimism ahead of the U.S. Federal Reserve’s policy outcome later in the evening, as investors anticipated a rate cut of 25 basis points.

The ₹400.95 crore IPO of Shringar House of Mangalsutra, a leading and specialised designer and manufacturer of Mangalsutras in India, was subscribed 60.29 times on the final day of bidding. The issue received bids for 1,02,59,15,670 shares against the offered 1,70,16,000 equity shares, at a price band of ₹155–165, according to data available on the stock exchanges.

The qualified institutional buyer (QIB) portion and non-institutional investors (NII) portion were subscribed 101.41 times and 82.58 times respectively, whereas the retail portion was subscribed 27.22 times. The employee portion was subscribed 69.90 times. The issue opened for subscription on Wednesday, September 10, 2025, and will close on Friday, September 12, 2025.

Dev Accelerator’s IPO, which was entirely a fresh issue of 2.35 crore shares at a price band of ₹56–61 per share, was subscribed 64 times. The public issue was subscribed 164.89 times in the retail category, 20.30 times in QIB and 87.97 times in the NII category.

The flexible office space provider’s IPO was entirely a fresh issue of 2.35 crore shares, offered at a price band of ₹56–61 per share. Established in 2017, Dev Accelerator has expanded its presence to 28 centers across 11 cities in India, including major hubs such as Delhi-NCR, Hyderabad, Mumbai, and Pune.

(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)