New Delhi, Feb. 6 -- Jewellery brand Shringar House of Mangalsutra Ltd has filed draft papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO).

The Mumbai-based company's IPO is entirely a fresh issue of 2.43 crore equity shares with no Offer For Sale (OFS) component. It includes a reservation for a subscription by eligible employees and a discount is being offered to such employees, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday.

Proceeds from the fresh issue to the tune of Rs.250 crore will be utilised for supporting working capital requirements of the company; and for general corporate purposes.

Incorporated in 2009, Shringar House of Mangalsutra is engaged in desig...