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SHELLZ · BSE · Packaged Foods
Shellz India IPO opens for subscription from 15 Oct 2026 to 19 Oct 2026. The SME IPO has a price band of ₹170-₹179 , with a face value of ₹10 per share and lot size of 800 shares . The IPO will list on 23 Oct 2026 on BSE.
Shellz India IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 15 Oct 2026 |
| IPO Close Date | 19 Oct 2026 |
| Basis of Allotment | 21 Oct 2026 |
| Initiation of Refunds | 22 Oct 2026 |
| Credit of Shares to Demat | 22 Oct 2026 |
| Listing Date | 23 Oct 2026 |
Issue Size
3,350,400 shares
(aggregating up to ₹60.00 Cr)
Issue Price
₹170 – ₹179
Face Value
₹10/share
Market Lot
800 shares
Retail Min Investment
₹286,400
Listing At
BSE
Sale Type
fresh issue
Fresh Issue
3,020,800 shares
(aggregating up to ₹54 Cr)
Offer for Sale
[.]
Reserved for Market Maker
329,600 shares
(aggregating up to ₹6.00 Cr)
Issue Type
book building
Open Date
15 Oct
Close Date
19 Oct
Allotment
21 Oct
Listing
23 Oct
Last updated: 24 minutes ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 19 Oct 2026 Latest | ₹179 | ₹41 | ₹220 | ₹41 |
22.91%
|
1:30 PM |
| 19 Oct 2026 | ₹179 | ₹37 | ₹216 | ₹37 |
20.67%
|
1:00 PM |
Showing the 2 most recent GMP entries.
Shellz India IPO GMP today & full historyLatest snapshot: 19 Oct 2026
| Category | Subscribed (x) | No. of Applications |
|---|---|---|
| QIB | 4.25x | - |
| NII | 14.15x | - |
| bNII (bids above ₹10L) | 16.02x | - |
| sNII (bids below ₹10L) | 10.41x | - |
| Individual Investors | 12.64x | - |
| Total | 10.56x | - |
Showing the latest subscription snapshot.
View full subscription historyKapil Garg and Shalini Garg are the company promoters.
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 1,600 | ₹286,400 |
| Retail (Max) | 2 | 1,600 | ₹286,400 |
| S-HNI (Min) | 3 | 2,400 | ₹429,600 |
| S-HNI (Max) | 6 | 4,800 | ₹859,200 |
| B-HNI (Min) | 7 | 5,600 | ₹1,002,400 |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| QIB Shares Offered | 1,509,600 (45.06%) |
|
•
QIB (Ex. Anchor) Shares Offered
|
604,800 (18.05%) |
|
•
Anchor Investor Shares Offered
|
904,800 (27.01%) |
| NII (HNI) Shares Offered | 453,600 (13.54%) |
|
•
bNII > ₹10L
|
302,400 (9.03%) |
|
•
sNII < ₹10L
|
151,200 (4.51%) |
| Individual Investors Shares Offered | 1,057,600 (31.57%) |
| Market Maker Shares Offered | 329,600 (9.84%) |
| Total Shares Offered | 3,350,400 (100.01%) |
Shellz India Limited was incorporated on May 7, 2012 as Tifosi Foods Private Limited and was later renamed. It is headquartered in New Delhi (West Punjabi Bagh) and works in the confectionery and beverages manufacturing sector.
The company manufactures and markets confectionery with more than 250 products across categories including chocolates, jellies and baked treats, with Hugs as its flagship brand. It follows an integrated manufacturing model, producing its consumer products in-house at facilities in Delhi and Sonipat, Haryana. Alongside its own brands, it undertakes private-label manufacturing for third-party brands and exports to markets in the Middle East, Southeast Asia and Europe. As of February 28, 2026, the company had 190 full-time employees.
This is an SME IPO, proposed to be listed on the BSE SME platform. The company filed its DRHP on March 30, 2026, and the issue size and price band have not yet been announced. Socradamus Capital Private Limited is the book running lead manager and Bigshare Services Private Limited is the registrar of the issue.
Standalone · ₹ in Crores
| Particulars | FY Mar 2025 | FY Mar 2026 | FY Jun 2026 |
|---|---|---|---|
| Total Revenue | 187.39 | 193.18 | 47.43 |
| Profit After Tax (PAT) | 8.3 | 13.37 | 4.08 |
| EBITDA | 22.79 | 30.15 | 8.52 |
| Total Assets | 167.36 | 213.72 | 229.36 |
| Net Worth | 40.58 | 58.95 | 63.03 |
| Reserves & Surplus | 39.89 | 50.24 | 54.31 |
| Total Borrowing | 96.9 | 100.83 | 108.56 |
Revenue & Profit Trend
Key ratios per fiscal period
| Particulars | Mar 2026 | Jun 2026 |
|---|---|---|
| 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. | 26.87% | 6.69% |
| 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. | 19.11% | 4.69% |
| 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. | 22.26% | 6.47% |
| 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. | 6.94% | 8.63% |
| 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. | 15.65% | 18.04% |
| 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. | 1.7x | 1.7x |
| 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. | 2.65x | 2.48x |
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. | ₹9.52 | ₹10.25 |
| 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. | 18.8x | 17.46x |
| 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. | ₹156 Cr | ₹216 Cr |
The basis of allotment for Shellz India IPO is scheduled for 21 Oct 2026. You can check your allotment status using your PAN number or application number on the Bigshare Services Private Limited portal or BSE.
The Shellz India IPO is expected to open in Oct 2026, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Shellz India IPO is ₹170.00 - ₹179.00 per share.
As per market sources, Shellz India IPO GMP is currently ₹41.00. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Shellz India IPO stands at 10.56x overall.
The listing date for Shellz India IPO is 23 Oct 2026.
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