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Shining Tools IPO
Price Band
₹
Issue Size
₹17.1 Cr
Lot Size
1,200 shares
Min Investment
₹273,600
2 LOTS MIN
GMP
—
Issue Price
₹114.0
Shining Tools IPO AI Summary
- Shining Tools IPO is listed on BSE SME in the Industrial Products sector.
- Subscription window: 07 Nov–11 Nov 2025, listing on 14 Nov 2025.
Shining Tools Limited is an SME engaged in the manufacturing of high-performance carbide cutting tools, with a focus on innovation and quality. The company has shown fluctuations in revenue and profit, with a recent drop in income noted in the latest financial period. Investors should consider their risk tolerance and investment strategy before participating in the IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Shining Tools IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 11 Nov 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Shining Tools IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in May 2013, Shining Tools Limited designs and manufactures high-performance solid carbide cutting tools for various industries in India. The company offers reconditioning services for used tools, enhancing usability and performance. The company designs and manufactures high-performance solid carbide cutting tools, such as end mills, drills, reamers, and thread mills under the "Tixna" brand. They create customized tools and offer re-conditioning services for automotive, engineering, aerospace, and defense industries. The company manufactures high-performance cutting tools, including end mills, thread mills, drills, and reamers, providing innovative solutions. These tools are used in commercial metal cutting across various industries. The company is ISO 9001:2015 accredited in Quality Management for solid carbide cutting tools. The company serves various industries, including Agriculture, Automobiles, Engineering, Medical, Casting, Defence, Aerospace, and Power. The company's manufacturing unit is situated in Rajkot, Gujarat. As of June 2025, the company has 26 employees on its payroll. Competitive Strength Efficiency through Machine-Based Manufacturing Tools. Tailored Solutions to customers by Offering Customised Tools. Wide and diverse range of product offerings. Experienced management and technical expertise of employees.
Company Financials (₹ Cr)
As of 2025-07-31
| Period Ended | 31 Jul 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 22.51 | 19.64 | 15.05 | 16.83 |
| Total Income | 5.42 | 14.77 | 10.60 | 10.46 |
| Profit After Tax | 1.47 | 2.93 | 1.58 | -0.08 |
| EBITDA | 2.53 | 6.23 | 4.15 | 1.89 |
| NET Worth | 9.47 | 8.01 | 3.60 | 2.02 |
| Reserves and Surplus | 5.53 | 4.06 | 1.60 | 0.02 |
| Total Borrowing | 8.87 | 8.18 | 7.54 | 9.45 |
Key Ratios
EPS
₹7.05
NAV
₹19.60
ROE
49.59%
ROCE
29.61%
RoNW
36.60%
P/B Value
5.82
P/E Ratio
16.18
Market Cap
₹64.51 Cr
PAT Margin
27.19%
Peer Comparison
| Company | NAV | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|
| Birla Precision Technologies Ltd. | 24.08 | 56.37 | 0.82 | 0.82 |
| Shining Tools Limited This IPO | 19.25 | 15.9 | 7.17 | 7.17 |
Promoters
Vipulbhai Laljibhai Ghonia and Kamalbhai Laljibhai Ghonia
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 Purchase and installation of plant and machinery for Carbide Precision Tools at Existing Premises 9.07 2 Funding of Working Capital Requirements 3.85 3 General Corporate Purposes 2.48 4 Issue Expenses 1.70 Total 17.10
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹10.46 Cr in the year ending 31 Mar 2023, increasing to ₹10.60 Cr by 31 Mar 2024. However, it rose to ₹14.77 Cr in the year ending 31 Mar 2025, before dropping to ₹5.42 Cr by 31 Jul 2025, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was a loss of ₹0.08 Cr in the year ending 31 Mar 2023, improving to a profit of ₹1.58 Cr by 31 Mar 2024. This increased further to ₹2.93 Cr in the year ending 31 Mar 2025, but fell to ₹1.47 Cr by 31 Jul 2025, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
At the issue price of ₹114.0, Shining Tools Limited has an implied P/E of 15.9, compared to peers trading at a P/E of 56.37 for Birla Precision Technologies Ltd.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of shares before they are listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on demand in this unofficial market. A higher GMP suggests strong demand, while a lower or negative GMP may indicate weak demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's essential to consider the company's financial health, growth potential, and market conditions before making a decision.
Who May Want to Wait
Investors with a low-risk appetite or those who prefer stable, established companies may want to avoid this IPO, especially given the recent fluctuations in revenue and profit figures.
IPO Timeline, Explained
The IPO opens for subscription on 7th November 2025 and closes on 11th November 2025. Allotment of shares will be done on 12th November 2025, and the shares are expected to be listed on the stock exchange on 14th November 2025.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While some IPOs may see a surge in share price on their first day of trading, others may not perform as well. Factors influencing listing gains include market sentiment, demand for the shares, and overall market conditions at the time of listing.
This evaluation is generated from Shining Tools'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
When does Shining Tools IPO open and close?
Shining Tools IPO opens on 07 November 2025 and closes on 11 November 2025.
When does Shining Tools IPO list on the stock exchange?
Shining Tools IPO listed on 14 November 2025 at ₹114.0.
What is the lot size for Shining Tools IPO?
The lot size for Shining Tools IPO is 1200 shares, requiring a minimum investment of ₹273,600 (2 lots).
What is the lot size for the Shining Tools IPO?
The lot size for the Shining Tools IPO is 1200 shares.
What is the minimum investment required for this IPO?
The minimum investment required for this IPO is ₹273,600.
What is the issue price of the Shining Tools IPO?
The issue price of the Shining Tools IPO is ₹114.0 per share.
When is the listing date for the Shining Tools IPO?
The listing date for the Shining Tools IPO is 14th November 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on demand in the unofficial market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
07 Nov 2025
Close
11 Nov 2025
Allotment
12 Nov 2025
Listing
14 Nov 2025
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