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SHANTIINOR · NSE · Specialty Chemicals
Shanti Inorganics IPO listed on 07 Sep 2026 on NSE at ₹157.70, a gain of 90.00% over the issue price of ₹83.00. The IPO was subscribed 142.16x overall.
Shanti Inorganics IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 31 Aug 2026 |
| IPO Close Date | 02 Sep 2026 |
| Basis of Allotment | 03 Sep 2026 |
| Initiation of Refunds | 04 Sep 2026 |
| Credit of Shares to Demat | 04 Sep 2026 |
| Listing Date | 07 Sep 2026 |
Listing day gain
+90%
Listed at ₹157.7 (issue ₹83)
Issue
₹83
Listing
₹157.7
Current
₹165.55
+99.46% vs issue
Day range
₹150 – ₹165.55
Issue Size
5,691,200 shares
(aggregating up to ₹45.00 Cr)
Issue Price
₹79 – ₹83
Face Value
₹10/share
Market Lot
1,600 shares
Retail Min Investment
₹265,600
Listing At
NSE
Sale Type
fresh issue
Fresh Issue
5,406,400 shares
(aggregating up to ₹47 Cr)
Offer for Sale
[.]
Reserved for Market Maker
284,800 shares
(aggregating up to ₹2.00 Cr)
Issue Type
book building
Open Date
31 Aug
Close Date
02 Sep
Allotment
03 Sep
Listing
07 Sep
Last updated: 1 month ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 06 Sep 2026 Latest | ₹83 | ₹47 | ₹130 | ₹47 |
56.63%
|
11:08 AM |
| 06 Sep 2026 | ₹83 | ₹47 | ₹130 | ₹47 |
56.63%
|
11:07 AM |
Showing the 2 most recent GMP entries.
Shanti Inorganics IPO GMP & full historyLatest snapshot: 02 Sep 2026
| Category | Subscribed (x) | No. of Applications |
|---|---|---|
| QIB | 130.97x | - |
| NII | 195.53x | - |
| bNII (bids above ₹10L) | 215.56x | - |
| sNII (bids below ₹10L) | 155.47x | - |
| Individual Investors | 125.7x | - |
| Total | 142.16x | - |
Showing the latest subscription snapshot.
View full subscription historyManojkumar Jayantilal Patel and Avnish Manojkumar Patel are the promoters of the company.
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹265,600 |
| Retail (Max) | 2 | 3,200 | ₹265,600 |
| S-HNI (Min) | 3 | 4,800 | ₹398,400 |
| S-HNI (Max) | 7 | 11,200 | ₹929,600 |
| B-HNI (Min) | 8 | 12,800 | ₹1,062,400 |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| QIB Shares Offered | 2,700,800 (47.45%) |
|
•
Anchor Investor Shares Offered
|
1,619,200 (28.45%) |
|
•
QIB (Ex. Anchor) Shares Offered
|
1,081,600 (19.00%) |
| NII (HNI) Shares Offered | 526,400 (9.25%) |
|
•
bNII > ₹10L
|
256,000 (4.50%) |
|
•
sNII < ₹10L
|
270,400 (4.75%) |
| Individual Investors Shares Offered | 1,894,400 (33.29%) |
| Market Maker Shares Offered | 284,800 (5.00%) |
| Total Shares Offered | 5,406,400 (94.99%) |
Shanti Inorganics Limited was incorporated in January 2010 in Ahmedabad, Gujarat, and is headquartered in the same city. It works in the specialty chemicals sector, manufacturing and trading sulphur-based inorganic chemicals.
The company's product portfolio includes ammonium bisulphite, sodium bisulphite solutions, sodium metabisulphite and sodium sulphite powder, which are used as preservatives, reducing agents, oxygen scavengers and process intermediates. Its customers span industries such as oil drilling, pharmaceuticals, food, paper and water treatment. It operates manufacturing plants at Vatva (16,200 MTPA capacity) and Bavla (18,000 MTPA capacity) in Gujarat, with a Bavla Phase II expansion of 31,200 MTPA planned to be completed by August 2026 to support export growth. The company relies on export markets for part of its revenue and is exposed to foreign exchange and sulphur price fluctuations. The promoters are Manojkumar Jayantilal Patel and Avnish Manojkumar Patel, who together held about 74.85% of the company before the offer.
The company reported income of about Rs 58.5 crore and profit after tax of about Rs 8.3 crore in FY25, with a return on equity of about 38%, as per the DRHP. The IPO is an SME issue proposed to be listed on the NSE Emerge platform, structured entirely as a fresh issue of up to 50,00,000 equity shares of face value Rs 10 each, with the price band yet to be announced. Net proceeds are proposed to be used to support the Bavla Phase II expansion, along with other objects and general corporate purposes as detailed in the DRHP.
Standalone · ₹ in Crores
| Particulars | FY Mar 2023 | FY Mar 2024 | FY Mar 2025 |
|---|---|---|---|
| Total Revenue | 46.5 | 45.06 | 58.46 |
| Profit After Tax (PAT) | 4.6 | 5.12 | 8.26 |
| EBITDA | 6.97 | 8.73 | 12.11 |
| Total Assets | 27.57 | 52.69 | 66.04 |
| Net Worth | 12.49 | 17.6 | 25.86 |
| Reserves & Surplus | 11.85 | 16.97 | 25.23 |
| Total Borrowing | 5.63 | 24.34 | 25.38 |
Revenue & Profit Trend
Key ratios per fiscal period
| Particulars | Mar 2025 |
|---|---|
| RoE Return on Equity Shows how much profit the company makes on the money shareholders have put in. 15% to 20% is healthy in most industries. | 38% |
| RoCE Return on Capital Employed Shows the profit earned on all the money used, shareholder funds plus loans. Matters most for factory and infrastructure heavy companies. | 27.2% |
| RoNW Return on Net Worth Shows the profit earned on the company's own net worth. Steady or rising over 3 years is a good sign. | 38% |
| PAT Margin Profit After Tax Margin Out of every ₹100 of sales, how much the company keeps after paying all costs, loan interest and tax. | 14.13% |
| EBITDA Margin Earnings Before Interest, Tax, Depreciation and Amortisation Margin Profit from the main business as a share of sales, before loan interest and tax. Compare it with other companies in the same industry. | 21.21% |
| Debt / Equity Debt to Equity How much the company has borrowed against what shareholders own. Above 1x means the loans are bigger than shareholder funds. | 0.98x |
| P/BV Price to Book Value Tells you if the IPO price is above what the company actually owns. 1x to 3x is usually seen as reasonable. | 3.27x |
Issue-level · at the upper price band
| Particulars | Pre-IPO | Post-IPO |
|---|---|---|
| EPS Earnings Per Share Profit the company earns on each share. Post-IPO EPS is usually lower because the issue adds new shares. | ₹7.15 | ₹4.99 |
| P/E Price to Earnings Tells you if the IPO price is fair for what the company earns. Compare it with listed companies in the same sector. | 11.61x | 16.63x |
| Market Cap Market Capitalisation What the whole company is valued at, at the upper price band. Post-IPO counts the new shares the issue creates. | ₹96 Cr | ₹137 Cr |
The basis of allotment for Shanti Inorganics IPO was finalised on 03 Sep 2026. You can check your allotment status using your PAN number or application number on the KFin Technologies Limited portal or BSE.
The Shanti Inorganics IPO is expected to open in Aug 2026, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Shanti Inorganics IPO is ₹79.00 - ₹83.00 per share.
As per market sources, Shanti Inorganics IPO GMP is currently ₹47.00. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Shanti Inorganics IPO stands at 142.16x overall.
The listing date for Shanti Inorganics IPO is 07 Sep 2026.
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