Shanti Inorganics
Price band ₹79–83 · Issue ₹47.24 Cr
Market attention score 22.5 (how ranked)
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Capital required
Approximate retail outlay for Shanti Inorganics at the issue price band (lot × lots).
Est. capital
₹1,26,400 – ₹1,32,800
Lot size 1,600 · up to ₹83/share
Prefer smaller tickets before listing? Explore unlisted & pre-IPO shares.
Opens
31 Aug 2026
Closes
2 Sept 2026
Allotment
3 Sept 2026
Listing
7 Sept 2026
Lot size
1,600
GMP
+30.12%
At a glance
IPO Open Mon, Aug 31, 2026 IPO Close Wed, Sep 2, 2026 Price Band ₹79 to ₹83 Market Cap * ₹143.15 Cr * on Upper Price IPO Details IPO Date 31 Aug to 2 Sep, 2026 Listing Date Mon, Sep 7, 2026 T Face Value ₹ 10 per share Price Band ₹79 to ₹83 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 IPO Timetable (Tentative) 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 IPOs Timetable Issue Reservation Investor Category Shares QIB Not more than 50% of the Net Issue Retail Not less than 35% of the Net Issue NII Not less than 15% of the Net Issue IPO Lot Size Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof. 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 IPO Subscription Details About Shanti Inorganics Ltd. Updated on Aug 24, 2026 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.
Overview
Shanti Inorganics IPO is a book build issue of ₹47.24 crores. The issue is entirely a fresh issue of 0.57 crore shares of ₹47.24 crore.
Shanti Inorganics IPO opens for subscription on Aug 31, 2026 and closes on Sep 2, 2026. The allotment for the Shanti Inorganics IPO is expected to be finalized on Sep 3, 2026. Shanti Inorganics IPO will list on the NSE SME with a tentative listing date fixed as Sep 7, 2026.
Shanti Inorganics IPO is set issue price band at ₹79 to ₹83 per share. The lot size for an application is 1,600 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,65,600 (3,200 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (4,800 shares), amounting to ₹3,98,400.
Vivro Financial Services Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Rikhav Securities Ltd.
Refer to Shanti Inorganics IPO RHP for detailed Information.
Issue details
IPO Date
31 Aug to 2 Sep, 2026
Listing Date
Mon, Sep 7, 2026T
Face Value
₹10 per share
Price Band
₹79 to ₹83
Lot Size
1,600 Shares
Sale Type
Fresh capital only
Issue Type
Bookbuilding IPO
Listing At
NSE SME
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 |
Issue reservation
| Investor Category | Shares |
|---|---|
| QIB | Not more than 50% of the Net Issue |
| Retail | Not less than 35% of the Net Issue |
| NII | Not less than 15% of the Net Issue |
About the 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.
- Growing international presence : The company sells its products in several overseas markets, reducing its dependence on the domestic market.
- Diversified customer base: It has established relationships with customers across multiple industries, which helps reduce dependence on any single sector.
- Strategic manufacturing locations: Its production facilities are located in Gujarat, providing access to raw materials and established supplier relationships.
- Quality and safety standards: The company follows relevant quality and food safety standards and holds certifications supporting its manufacturing and product quality.
Financials
| Metric | 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 |
Amounts in ₹ Crore (restated)
Key performance indicators
| KPI | May 31, 2026 | Mar 31, 2026 |
|---|---|---|
| ROE | 5.05% | 27.68% |
| ROCE | 4.45% | 23.40% |
| Debt/Equity | 0.69 | 0.64 |
| RoNW | 5.05% | 27.68% |
| PAT Margin | 15.53% | 14.01% |
| EBITDA Margin | 25.16% | 21.62% |
| NAV | 43.91 | 41.74 |
| Price to Book Value | 1.89 | 1.99 |
Valuation
Valuation Metric
Pre IPO
EPS (₹)
8.84
P/E (x)
9.39
Market Cap at Offer Price
₹96Cr.
Shareholding
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 83.65% | |
| Public | 16.35% | |
| Total | 100% |
Objects of the issue
- — 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;
- — General Corporate Purposes
Intermediaries
Registrar
Kfin Technologies Ltd.
Lead manager(s)
Vivro Financial Services Pvt.Ltd.
FAQs
How to apply in Shanti Inorganics IPO through Zerodha?+
Zerodha customers can apply online in Shanti Inorganics IPO using UPI as a payment gateway. Zerodha customers can apply in Shanti Inorganics IPO by login into Zerodha Console (back office) and submitting an IPO application form. Steps to apply in Shanti Inorganics IPO through Zerodha Visit the Zerodha website and login to Console. Go to Portfolio and click the IPOs link. Go to the ' Shanti Inorganics IPO ' row and click the 'Bid' button. Enter your UPI ID, Quantity, and Price. Submit IPO application form. Visit the UPI App (net banking or BHIM ) to approve the mandate. Visit Zerodha IPO Application Process Review for more detail.
When Shanti Inorganics IPO will open?+
The Shanti Inorganics IPO opens on Mon, Aug 31, 2026 and closes on Wed, Sep 2, 2026.
What is the lot size of Shanti Inorganics IPO?+
Shanti Inorganics IPO lot size is 1600 , and the minimum amount required for application is ₹2,65,600 , with 2 lots being the minimum application size .
How to apply for Shanti Inorganics IPO?+
You can apply in Shanti Inorganics IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha , Upstox , 5Paisa , Nuvama , HDFC Bank , and SBI Bank .
When is Shanti Inorganics IPO allotment?+
The finalization of Basis of Allotment for Shanti Inorganics IPO will be done on Thursday, September 3, 2026 , and the allotted shares will be credited to your demat account by Fri, Sep 4, 2026 . Check the Shanti Inorganics IPO allotment status .
When is Shanti Inorganics IPO listing date ?+
The Shanti Inorganics IPO listing date is not yet announced. The tentative date of listing is Mon, Sep 7, 2026 .
Aggregated from public IPO filings. GMP is unofficial grey-market chatter, not advice.