Shanti Inorganics IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Aug 31 to Sep 02 2026
Price Band
₹79 - 83
Current GMP
₹157.7 (+90%)
Subscription
142.17 times
IPO Details
| IPO Date | 31 Aug to 2 Sep, 2026 |
| Listing Date | Mon, Sep 7, 2026 |
| Face Value | ₹ 10 per share |
| Price Band | ₹79 to ₹83 |
| Issue Price | ₹83 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 56,91,200 shares (agg. up to ₹ 47 Cr) |
| Reserved for Market Maker | 2,84,800 shares (agg. up to ₹ 2 Cr) Rikhav Securities Ltd. |
| Fresh Issue (Ex Market Maker) | 54,06,400 shares (agg. up to ₹ 45 Cr) |
| Net Offered to Public | 54,06,400 shares (agg. up to ₹ 45 Cr) |
| Share Holding Pre Issue | 1,15,56,200 shares |
| Share Holding Post Issue | 1,72,47,400 shares |
| NSE Symbol | SHANTIINOR |
| ISIN | INE1ZEE01019 |
IPO Date
31 Aug to 2 Sep, 2026
Listing Date
Mon, Sep 7, 2026
Face Value
₹ 10 per share
Price Band
₹79 to ₹83
Issue Price
₹83 per share
Lot Size
1,600 Shares
Sale Type
Fresh capital only
Issue Type
Bookbuilding IPO
Listing At
NSE SME
Total Issue Size
56,91,200 shares (agg. up to ₹ 47 Cr)
Reserved for Market Maker
2,84,800 shares (agg. up to ₹ 2 Cr) Rikhav Securities Ltd.
Fresh Issue (Ex Market Maker)
54,06,400 shares (agg. up to ₹ 45 Cr)
Net Offered to Public
54,06,400 shares (agg. up to ₹ 45 Cr)
Share Holding Pre Issue
1,15,56,200 shares
Share Holding Post Issue
1,72,47,400 shares
NSE Symbol
SHANTIINOR
ISIN
INE1ZEE01019
IPO Subscription Details
| Anchor | 1 |
| Market Maker | 1 |
| QIB (Ex Anchor) | 130.97 |
| NII*** | 195.53 |
| bNII (> ₹10L) | 215.56 |
| sNII (< ₹10L) | 155.47 |
| Individual Investors | 125.72 |
| Total ** | 142.17 |
Anchor
1
Market Maker
1
QIB (Ex Anchor)
130.97
NII***
195.53
bNII (> ₹10L)
215.56
sNII (< ₹10L)
155.47
Individual Investors
125.72
Total **
142.17
Day Wise Sub
| Day | QIB (Ex Anchor) | NII* | NII (> ₹10L) | NII (< ₹10L) | Individual Investors | Total |
|---|---|---|---|---|---|---|
| Aug 3 1 (Day 1) | 0.23 | 1.61 | 2.39 | 0.88 | 1.75 | 1.26 |
| Sep 1 (Day 2) | 1.63 | 3.93 | 5.03 | 2.89 | 5.18 | 3.89 |
| Sep 2 (Day 3) | 130.97 | 195.53 | 215.56 | 155.47 | 125.72 | 142.17 |
DayAug 3
1 (Day 1)
QIB (Ex Anchor)0.23
NII*1.61
NII (> ₹10L)2.39
NII (< ₹10L)0.88
Individual Investors1.75
Total1.26
DaySep 1
(Day 2)
QIB (Ex Anchor)1.63
NII*3.93
NII (> ₹10L)5.03
NII (< ₹10L)2.89
Individual Investors5.18
Total3.89
DaySep 2
(Day 3)
QIB (Ex Anchor)130.97
NII*195.53
NII (> ₹10L)215.56
NII (< ₹10L)155.47
Individual Investors125.72
Total142.17
Day Wise GMP
| GMP Date | IPO Price | GMP | Est. Listing Price |
|---|---|---|---|
| 07-09-2026 | 83 | 55 (66.27%) | 138 |
| 06-09-2026 | 83 | 54 (65.06%) | 137 |
| 05-09-2026 | 83 | 47 (56.63%) | 130 |
| 04-09-2026 | 83 | 43 (51.81%) | 126 |
| 03-09-2026 | 83 | 34 (40.96%) | 117 |
| 02-09-2026 | 83 | 13 (15.66%) | 96 |
| 01-09-2026 | 83 | 36 (43.37%) | 119 |
| 31-08-2026 | 83 | 31 (37.35%) | 114 |
| 30-08-2026 | 83 | 31 (37.35%) | 114 |
| 29-08-2026 | 83 | 31 (37.35%) | 114 |
| 28-08-2026 | 83 | 31 (37.35%) | 114 |
| 27-08-2026 | 83 | 31 (37.35%) | 114 |
| 26-08-2026 | 83 | 31 (37.35%) | 114 |
| 25-08-2026 | 83 | 31 (37.35%) | 114 |
| 24-08-2026 | 83 | 25 (30.12%) | 108 |
GMP Date07-09-2026
IPO Price83
GMP55 (66.27%)
Est. Listing Price138
GMP Date06-09-2026
IPO Price83
GMP54 (65.06%)
Est. Listing Price137
GMP Date05-09-2026
IPO Price83
GMP47 (56.63%)
Est. Listing Price130
GMP Date04-09-2026
IPO Price83
GMP43 (51.81%)
Est. Listing Price126
GMP Date03-09-2026
IPO Price83
GMP34 (40.96%)
Est. Listing Price117
GMP Date02-09-2026
IPO Price83
GMP13 (15.66%)
Est. Listing Price96
GMP Date01-09-2026
IPO Price83
GMP36 (43.37%)
Est. Listing Price119
GMP Date31-08-2026
IPO Price83
GMP31 (37.35%)
Est. Listing Price114
GMP Date30-08-2026
IPO Price83
GMP31 (37.35%)
Est. Listing Price114
GMP Date29-08-2026
IPO Price83
GMP31 (37.35%)
Est. Listing Price114
GMP Date28-08-2026
IPO Price83
GMP31 (37.35%)
Est. Listing Price114
GMP Date27-08-2026
IPO Price83
GMP31 (37.35%)
Est. Listing Price114
GMP Date26-08-2026
IPO Price83
GMP31 (37.35%)
Est. Listing Price114
GMP Date25-08-2026
IPO Price83
GMP31 (37.35%)
Est. Listing Price114
GMP Date24-08-2026
IPO Price83
GMP25 (30.12%)
Est. Listing Price108
IPO Important Dates
| IPO Open | Mon, Aug 31, 2026 |
| IPO Close | Wed, Sep 2, 2026 |
| Allotment | Thu, Sep 3, 2026 |
| Refund | Fri, Sep 4, 2026 |
| Credit of Shares | Fri, Sep 4, 2026 |
| Listing | Mon, Sep 7, 2026 |
IPO Open
Mon, Aug 31, 2026
IPO Close
Wed, Sep 2, 2026
Allotment
Thu, Sep 3, 2026
Refund
Fri, Sep 4, 2026
Credit of Shares
Fri, Sep 4, 2026
Listing
Mon, Sep 7, 2026
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 3,200 | ₹2,65,600 |
| Individual investors (IND) (Max) | 2 | 3,200 | ₹2,65,600 |
| S-HNI (Min) | 3 | 4,800 | ₹3,98,400 |
| S-HNI (Max) | 7 | 11,200 | ₹9,29,600 |
| B-HNI (Min) | 8 | 12,800 | ₹10,62,400 |
ApplicationIndividual investors (IND) (Min)
Lots2
Shares3,200
Amount₹2,65,600
ApplicationIndividual investors (IND) (Max)
Lots2
Shares3,200
Amount₹2,65,600
ApplicationS-HNI (Min)
Lots3
Shares4,800
Amount₹3,98,400
ApplicationS-HNI (Max)
Lots7
Shares11,200
Amount₹9,29,600
ApplicationB-HNI (Min)
Lots8
Shares12,800
Amount₹10,62,400
Financial Information
| Period Ended | 31 May 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 110.73 | 97.04 | 66.04 | 52.69 |
| Total Income | 16.10 | 72.93 | 58.46 | 45.06 |
| Profit After Tax | 2.50 | 10.22 | 7.99 | 5.12 |
| EBITDA | 4.02 | 15.40 | 12.06 | 8.72 |
| NET Worth | 50.74 | 48.24 | 25.60 | 17.60 |
| Reserves and Surplus | 39.18 | 36.68 | 24.96 | 16.97 |
| Total Borrowing | 25.38 | 24.34 |
Period EndedAssets
31 May 2026110.73
31 Mar 202697.04
31 Mar 202566.04
31 Mar 202452.69
Period EndedTotal Income
31 May 202616.10
31 Mar 202672.93
31 Mar 202558.46
31 Mar 202445.06
Period EndedProfit After Tax
31 May 20262.50
31 Mar 202610.22
31 Mar 20257.99
31 Mar 20245.12
Period EndedEBITDA
31 May 20264.02
31 Mar 202615.40
31 Mar 202512.06
31 Mar 20248.72
Period EndedNET Worth
31 May 202650.74
31 Mar 202648.24
31 Mar 202525.60
31 Mar 202417.60
Period EndedReserves and Surplus
31 May 202639.18
31 Mar 202636.68
31 Mar 202524.96
31 Mar 202416.97
Period EndedTotal Borrowing
31 May 2026
31 Mar 2026
31 Mar 202525.38
31 Mar 202424.34
Key Performance Indicator
| ROE | 5.05% |
| ROCE | 4.45% |
| Debt/Equity | 0.69 |
| RoNW | 5.05% |
| PAT Margin | 15.53% |
| EBITDA Margin | 25.16% |
| NAV | 43.91 |
| Price to Book Value | 1.89 |
ROE
5.05%
ROCE
4.45%
Debt/Equity
0.69
RoNW
5.05%
PAT Margin
15.53%
EBITDA Margin
25.16%
NAV
43.91
Price to Book Value
1.89
IPO Reservation
| QIB | 27,00,800 |
| − Anchor Investor | 16,19,200 |
| − QIB (Ex. Anchor) | 10,81,600 |
| NII (HNI) | 8,11,200 |
| − bNII > ₹10L | 5,40,800 |
| − sNII < ₹10L | 2,70,400 |
| Retail | 18,94,400 |
| Market Maker | 2,84,800 |
| Total | 56,91,200 |
QIB
27,00,800
− Anchor Investor
16,19,200
− QIB (Ex. Anchor)
10,81,600
NII (HNI)
8,11,200
− bNII > ₹10L
5,40,800
− sNII < ₹10L
2,70,400
Retail
18,94,400
Market Maker
2,84,800
Total
56,91,200
Information about company
Incorporated in January 2010, Shanti Inorganics Ltd. manufactures and trades sulfur-based inorganic chemicals. Its main products include sodium metabisulphite, sodium sulfite powder, ammonium bisulfite solution, and sodium bisulfite powder/solution.
These products are mainly used as preservatives, reducing agents, oxygen scavengers, and process intermediates across industries such as oil drilling, pharmaceuticals, food and beverages, pulp and paper, and water treatment.
The company operates two manufacturing facilities in Gujarat: one at GIDC, Vatva, Ahmedabad, and the other at Sankalp Industrial Estate, Chiyada, Bavla, Ahmedabad.
The company sells its products in both domestic and international markets. In the domestic market, it served 29 customers during the two-month period ended May 31, 2026, compared with 64 customers in Fiscal 2026, 48 in Fiscal 2025, and 46 in Fiscal 2024. In international markets, it served 8 customers during the two-month period ended May 31, 2026, compared with 20 customers in Fiscal 2026 and 21 customers each in Fiscal 2025 and Fiscal 2024.
The company exports its products to several countries, including the United Arab Emirates, Malaysia, Qatar, Nigeria, Russia, Colombia, Turkey, Vietnam, Egypt, Ghana, the Philippines, and others.
As of May 31, 2026, the company had 66 employees across various departments.
Objectives of IPO
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
#: Issue Objects
1: Part funding the capital expenditure towards setting up a new facility for manufacturing of sodium meta bisulphite, sodium bisulphite powder and ammonium bisulphite situated at Bavla, Ahmedabad, Gujarat
2: Issue Expenses
: Total
Disclaimer
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