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Shivchem Agro IPO
Price Band
₹59.0–62.0
Issue Size
₹14.01 Cr
Lot Size
2,000 shares
Min Investment
₹248,000
2 LOTS MIN
GMP
+₹6.0 (9.68%)
Issue Price
₹62.0
Subject to Sauda
₹9100
Paid only if allotted
Shivchem Agro IPO AI Summary
- Shivchem Agro IPO is open now on BSE SME in the Other Agricultural Products sector.
- Price band: ₹59.0–₹62.0 per share, lot size 2,000 shares (min. investment ₹248,000, 2 lots minimum).
- Subscription window: 28 Sep–30 Sep 2026, listing on 06 Oct 2026.
- Current GMP is +₹6.0 (9.68%), an estimated listing price of ₹68 — unofficial and can change daily.
Shivchem Agro is an upcoming IPO in the agrochemical sector, with a diverse product range and a strong distribution network. The company has shown consistent growth in revenue and profitability, and it plans to use the IPO proceeds for working capital and loan repayment. Investors should consider their risk tolerance and investment strategy before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
LIVE · updates every 5 minIPO is live — subscription open
Data auto-updates every 5 minutes
Shivchem Agro IPO Grey Market Premium (GMP) Today
GMP
+₹6.0
GMP %
+9.68%
Est. Listing
₹68.0
Updated: 28 Sep 2026 01:45
GMP Trend (Last 4 Days)
TopFund Score — Listing Data Indicator
GMP is 9.7% above issue price
Subscription not open yet
No anchor allocation for this IPO
Similar IPOs (same sector & type) averaged 36.3% listing gain
A rules-based composite of GMP, subscription demand, anchor participation and comparable-IPO history — each weighted as shown above. Not a statistically validated probability, a guarantee of listing performance, or personalized investment advice.
Limitations: weights are fixed by TopFund, not backtested against outcomes; the "Historical Similar-IPO Performance" factor needs at least 3 comparable past listings and falls back to a broader, less specific cohort when this sector/type doesn't have enough; GMP and subscription data can change daily right up to listing day, so scores shown may already be stale — check the "as of" date above.
About the Company
Incorporated in 2021, Shivchem Agro is an ISO 9001:2015, ISO 22000:2018, and ISO 31000:2018 certified agrochemical company based in India. The company manufactures stock, distribute, and sell a wide range of agricultural formulations, including insecticides, fungicides, herbicides, plant growth regulators, rodenticides, and fertilizers. These products are available in both solid (powders) and liquid (emulsifiable concentrates) forms, helping farmers improve crop protection and productivity. Products: Insecticides to manage pest challenges in agriculture Fungicides used to combat fungal diseases in crops and seeds Herbicides offer a solution to tackle unwanted plants or weeds Plant Growth Regulators: plant hormones or vitamins Rodenticide: Chemical substances to control rodent populations by killing or repelling Fertilizers used to meet the needs of various soils and crops The company is licensed under the Insecticides Act, 1968 to manufacture 176 agrochemical products—88 insecticides, 40 fungicides, 37 herbicides, 8 plant growth regulators, and 3 rodenticides—approved by the Central Insecticides Board and Registration Committee (CIBRC), Haryana. It is also authorized to manufacture 82 fertilizers under the Fertilizer Control Order, 1985. The company is licensed to sell and distribute our products in Andhra Pradesh, Telangana, Odisha, Assam, and Madhya Pradesh, with a network of 516 distributors and 6 godowns across these states as of March 31, 2025. Manufacturing facility: Its manufacturing facility in Jhajjar, Haryana, is equipped with modern machinery and pollution control systems, including an Effluent Treatment Plant (ETP) and a Wet Scrubber Unit. As on August 31, 2025, its total workforce has 59 permanent employees. Competitive strengths: Diversified product portfolio including a wide range of insecticides, fungicides, herbicides, plant growth regulators, rodenticides, and fertilizers Large and diverse Distributors and Distribution Network: As of March 31, 2025, we have 516 distributors. On-Field product demonstrations Manufacturing facility with ability to manufacture a wide range of products Enhanced Efficiency through automated filling and packaging machines
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 45.04 | 36.29 | 16.41 |
| Total Income | 33.84 | 27.50 | 10.95 |
| Profit After Tax | 3.25 | 2.60 | 1.29 |
| EBITDA | 5.98 | 4.32 | 1.93 |
| NET Worth | 12.92 | 9.67 | 1.50 |
| Reserves and Surplus | 10.28 | 7.04 | 1.45 |
| Total Borrowing | 7.28 | 8.26 | 7.10 |
Key Ratios
EPS
₹6.16
NAV
₹24.50
ROE
28.76%
ROCE
30.04%
RoNW
28.76%
P/B Value
2.53
P/E Ratio
10.06
Market Cap
₹46.70 Cr
PAT Margin
9.61%
Debt/Equity
0.56
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Sikko Industries Ltd. | 1.98 | 5.92% | 15.21 | 0.33 | 0.33 |
| Super Crop Safe Ltd. | 7.8 | 6.69% | 27.83 | 0.52 | 0.52 |
| Shivchem Agro Ltd. This IPO | 24.5 | 28.76% | — | 6.16 | 6.16 |
Promoters
Rohit Agarwal, Sachin Agarwal, Deepa Agarwal
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 Funding the working capital requirements of the Company 6.90 2 Repayment/prepayment, in full or part, of certain loans availed by Company 3.50 3 General Corporate Purposes Total 10.40
IPO Evaluation
Generated 27 Sep 2026Revenue Trend
Total Income was ₹10.95 Cr in the year ended 31 Mar 2024, rising to ₹27.50 Cr by 31 Mar 2025, and further increasing to ₹33.84 Cr by 31 Mar 2026. This shows a consistent upward trend in revenue over the periods.
Profit Trend
Profit After Tax was ₹1.29 Cr in the year ended 31 Mar 2024, increasing to ₹2.60 Cr by 31 Mar 2025, and reaching ₹3.25 Cr by 31 Mar 2026. This indicates a positive growth in profitability across the reported periods.
Valuation
Shivchem Agro's implied P/E ratio at the issue price of ₹62.0 is approximately 10.06, compared to peers trading at P/E ratios ranging from 15.21 to 27.83.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of shares before they are listed on the stock exchange. Grey market premium (GMP) indicates the expected listing price of an IPO based on demand in this unofficial market. A high GMP suggests strong demand, while a low or negative GMP may indicate weaker interest.
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 important to consider the company's fundamentals and market conditions.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to avoid this IPO, as it involves investing in a relatively new company in the agrochemical sector.
IPO Timeline, Explained
The IPO opens for subscription on 28 September 2026 and closes on 30 September 2026. Allotment of shares will be done on 1 October 2026, and the shares are expected to be listed on the stock exchange on 6 October 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make if they sell their shares on the listing day at a higher price than the issue price. However, these gains are not guaranteed and can be influenced by market conditions and investor sentiment on the listing day.
This evaluation is generated from Shivchem Agro'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 Shivchem Agro IPO GMP today?
Shivchem Agro IPO GMP today is +₹6.0 (9.68%), indicating an estimated listing price of ₹68. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Shivchem Agro IPO?
The price band of Shivchem Agro IPO is ₹59.0–₹62.0 per share.
When does Shivchem Agro IPO open and close?
Shivchem Agro IPO opens on 28 September 2026 and closes on 30 September 2026.
When does Shivchem Agro IPO list on the stock exchange?
Shivchem Agro IPO is scheduled to list on 06 October 2026, with an estimated listing price of ₹68.0 based on current GMP.
What is the lot size for Shivchem Agro IPO?
The lot size for Shivchem Agro IPO is 2000 shares, requiring a minimum investment of ₹248,000 (2 lots).
What is the TopFund Listing Data Indicator for Shivchem Agro?
Shivchem Agro's Listing Data Indicator score is 55/100 (Moderate signal), a weighted composite of GMP strength, subscription demand, anchor investor interest and how similar past IPOs performed on listing. It's a rules-based summary of public market data, not a statistically validated probability, a guarantee, or personalized investment advice.
What is the price band for the IPO?
The price band for the IPO is ₹59.0 to ₹62.0.
What is the minimum investment required?
The minimum investment required is ₹2,48,000, which corresponds to a lot size of 2000 shares.
What are the key dates for the IPO?
The IPO opens on 28 September 2026 and closes on 30 September 2026, with the listing date set for 6 October 2026.
Who are the promoters of Shivchem Agro?
The promoters of Shivchem Agro are Rohit Agarwal, Sachin Agarwal, and Deepa Agarwal.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected price at which the shares may list on the stock exchange.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
28 Sep 2026
Close
30 Sep 2026
Allotment
01 Oct 2026
Listing
06 Oct 2026
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