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Shanti Inorganics IPO
Price Band
₹79.0–83.0
Issue Size
₹47.24 Cr
Lot Size
1,600 shares
Min Investment
₹265,600
2 LOTS MIN
GMP
+₹54.0 (65.06%)
Issue Price
₹83.0
Subject to Sauda
₹65700
Paid only if allotted
Shanti Inorganics IPO AI Summary
- Shanti Inorganics IPO is listed on NSE SME in the Specialty Chemicals sector.
- Price band: ₹79.0–₹83.0 per share, lot size 1,600 shares (min. investment ₹265,600, 2 lots minimum).
- Subscription window: 31 Aug–02 Sep 2026, listing on 07 Sep 2026.
- Current GMP is +₹54.0 (65.06%), an estimated listing price of ₹137 — unofficial and can change daily.
Shanti Inorganics Ltd. is a specialty chemicals manufacturer with a diverse product portfolio and strong market relationships. The company is seeking to raise funds through its IPO to expand its manufacturing capabilities. With significant subscription interest across all investor categories, the IPO presents a notable opportunity in the specialty chemicals sector.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Overall Subscription
142.17x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
130.97x
|
131x 🔥 |
| NII (HNI) |
195.53x
|
196x 🔥 |
| ↳ bNII (>₹10L) |
215.56x
|
216x 🔥 |
| ↳ sNII (<₹10L) |
155.47x
|
155x 🔥 |
| Retail (RII) |
125.72x
|
126x 🔥 |
| Total | 142.17x | 142.17x |
Auto-updated every 5 min · As of 2nd Sep 2026 18:56
Shanti Inorganics IPO Grey Market Premium (GMP) Today
GMP
+₹54.0
GMP %
+65.06%
Est. Listing
₹137.0
Updated: 07 Sep 2026 08:15
GMP Trend (Last 14 Days)
About the Company
Shanti Inorganics Ltd. is engaged in the business of manufacturing and trading of sulphur based inorganic chemicals. The product portfolio consists of ammonium bisulphite, sodium bisulphite solutions, sodium meta/ bisulphite, and sodium sulphite powder, which are primarily used as preservatives, reducing agents, oxygen scavengers and process intermediates across multiple industries such as oil drilling, pharmaceuticals, food and beverages, pulp & paper and water treatment. The company's manufacturing facilities are located at plot no. 2015, phase III, GIDC, Vatva, Ahmedabad – 382445, Gujarat, India (“Vatva Unit” or “Manufacturing Unit – I”) and plot no. 5/A & 5/B Sankalp industrial estate, Village: Chiyada, Ta.: Bavla, Ahmedabad (“Bavla Unit” or “Manufacturing Unit – II”). Products: Sodium meta bisulphite Sodium sulphite powder Ammonium bisulphite solution Sodium bisulphite powder/solution Competitive Strengths: Geographical diversification through exports to international market Long standing relationship with diversified customers across multiple industries Strategically located production facilities with access to abundant resources of raw materials and long-term relationships with suppliers Certifications and compliance with quality and food safety standards
Company Financials (₹ Cr)
As of 2026-05-31
| 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 |
Key Ratios
EPS
₹8.84
NAV
₹41.74
ROE
27.68%
ROCE
23.40%
RoNW
27.68%
P/B Value
1.99
P/E Ratio
9.39
Market Cap
₹143.15 Cr
PAT Margin
14.01%
Debt/Equity
0.64
Promoters
Manojkumar Jayantilal Patel, Avnish Manojkumar Patel
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 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 42.50 2 Issue Expenses 4.74 Total 47.24
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹45.06 Cr in the year ended 31 Mar 2024, increasing to ₹58.46 Cr by 31 Mar 2025, and further rising to ₹72.93 Cr by 31 Mar 2026. However, the most recent figure of ₹16.10 Cr as of 31 May 2026 is for a stub period and not directly comparable to the full fiscal years.
Profit Trend
Profit after tax was ₹5.12 Cr in the year ended 31 Mar 2024, rising to ₹7.99 Cr by 31 Mar 2025, and further increasing to ₹10.22 Cr by 31 Mar 2026. The most recent profit figure of ₹2.50 Cr as of 31 May 2026 is for a stub period and not directly comparable to the full fiscal years.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is the extra amount that investors are willing to pay for shares in the grey market before they are officially listed. A higher GMP indicates strong demand for the IPO, while a lower GMP suggests weaker demand.
Subscription Demand
The IPO has seen significant interest, with total bids amounting to 142.17 times the shares offered. The breakdown includes QIBs at 130.97 times, NIIs at 195.53 times, and Retail investors at 125.72 times, indicating strong demand across all categories.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth prospects, competitive positioning, and market conditions.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs, as they can be subject to significant price fluctuations on listing day and beyond.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on 31 August 2026 and closes on 2 September 2026. Allotment of shares will be done by 3 September 2026, and the shares are expected to be listed on the stock exchange by 7 September 2026.
Listing Gains — The Risk
Listing gains can be unpredictable and depend on various factors, including market conditions and investor sentiment. While some IPOs may see significant gains on their listing day, others may not perform as expected, leading to potential losses.
This evaluation is generated from Shanti Inorganics's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Shanti Inorganics IPO GMP today?
Shanti Inorganics IPO GMP today is +₹54.0 (65.06%), indicating an estimated listing price of ₹137. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Shanti Inorganics IPO?
The price band of Shanti Inorganics IPO is ₹79.0–₹83.0 per share.
When does Shanti Inorganics IPO open and close?
Shanti Inorganics IPO opens on 31 August 2026 and closes on 02 September 2026.
When does Shanti Inorganics IPO list on the stock exchange?
Shanti Inorganics IPO listed on 07 September 2026 at ₹137.0.
What is the lot size for Shanti Inorganics IPO?
The lot size for Shanti Inorganics IPO is 1600 shares, requiring a minimum investment of ₹265,600 (2 lots).
What is the price band for the IPO?
The price band for the IPO is ₹79.0 to ₹83.0.
What is the minimum investment required?
The minimum investment required is ₹2,65,600.
What is the lot size for the IPO?
The lot size for the IPO is 1600 shares.
When is the listing date for the shares?
The shares are expected to be listed on 7 September 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the demand for the IPO shares in the grey market before they are officially listed.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
31 Aug 2026
Close
02 Sep 2026
Allotment
03 Sep 2026
Listing
07 Sep 2026
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