Shanti Inorganics SME IPO
ListedNSE SMEOpens 31 August 2026Closes 2 September 2026
Incorporated in 2010 (originally as Shanti Inorgo Chem (Guj) Private Limited), Shanti Inorganics Limited manufactures and trades sulphur-based inorganic chemicals. Its specialized product portfolio includes ammonium…
Incorporated in 2010 (originally as Shanti Inorgo Chem (Guj) Private Limited), Shanti Inorganics Limited manufactures and trades sulphur-based inorganic chemicals. Its specialized product portfolio includes ammonium bisulphite, sodium bisulphite solution/powder, sodium meta bisulphite, and sodium sulphite anhydrous powder, which serve as reducing agents, preservatives, oxygen scavengers, and chemical process intermediates across diverse industries such as food & beverages, oil drilling, chemicals, pharmaceuticals, ceramics, agrochemicals, and water treatment. The company operates two manufacturing facilities in Gujarat located at GIDC Vatva (18,800 MTPA capacity) and Bavla, Ahmedabad (18,000 MTPA capacity).
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Key ratios
As per RHP / filingsTimeline
IPO Opens
31 Aug
IPO Closes
2 Sept
Allotment
3 Sept
Listing
7 Sept
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 31 August 2026 |
| IPO Close Date | 2 September 2026 |
| Allotment Date | 3 September 2026 |
| Listing Date | 7 September 2026 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,65,600 |
SHNI (Min) | 3 | ₹3,98,400 |
SHNI (Max) | 7 | ₹9,29,600 |
BHNIAbove ₹10,00,000 | 8 | ₹10,62,400 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 47.50% |
| NII (Non-Institutional Investor) | 14.25% |
| SHNI (Small Non-Institutional Investor) | 4.75% |
| BHNI (Big Non-Institutional Investor) | 9.50% |
| Retail | 33.25% |
| Market Maker | 5.00% |
| Total | 100.00% |
IPO Objectives
- 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 Cr).
- General Corporate Purposes.
Strengths
- Well-diversified revenue stream across domestic and international markets, with exports contributing 42.57% of FY26 revenue across 15+ countries.
- Broad application spectrum for products across essential end-user industries including food & beverages, oil drilling, pharmaceuticals, and water treatment.
- Strategically located manufacturing facilities in Gujarat offering proximity to raw material corridors and key industrial zones.
- Stringent adherence to quality and safety standards, holding ISO 9001:2015, NSF, HACCP, Kosher, and Halal certifications.
Weaknesses
- High sector concentration risk, with food & beverages, chemicals, and oil drilling sectors accounting for over 65% of revenue from operations.
- Absence of long-term supply contracts with both customers and primary raw material vendors, exposing sales and procurement to short-term volatility.
- Operational hazards and environmental liabilities associated with handling hazardous and toxic gases such as Sulphur Dioxide (SO2) and Anhydrous Ammonia (NH3).
- Execution risks and potential cost/timeline overruns in implementing the proposed Phase II manufacturing capacity expansion at Bavla (₹107.71 Cr project cost).
Financial Performance
| Period Ended | 31 May 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 110.73 | 97.04 | 66.04 | 52.69 |
| Revenue (₹ Cr.) | 16.1 | 72.93 | 58.46 | 45.06 |
| PAT (₹ Cr.) | 2.5 | 10.22 | 7.99 | 5.12 |
| Net Worth (₹ Cr.) | 50.74 | 48.24 | 25.6 | 17.6 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Shanti Inorganics | 1.99 | 9.39 | 27.68% | 48.24 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.23x | 1.63x | 130.97x |
| NII | 1.61x | 3.93x | 195.53x |
| S-HNI | 0.88x | 2.89x | 155.47x |
| B-HNI | 2.39x | 5.03x | 215.56x |
| RII | 1.75x | 5.18x | 125.72x |
| Total | 1.26x | 3.89x | 142.17x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 10,81,600 | 14,16,54,400 | 1,175.73 |
| NII | 8,11,200 | 15,86,16,000 | 1,316.51 |
| Small NII | 2,70,400 | 4,20,40,000 | 348.93 |
| Big NII | 5,40,800 | 11,65,76,000 | 967.58 |
| RII | 18,94,400 | 23,81,56,800 | 1,976.7 |
| Total | 37,87,200 | 53,84,27,200 | 4,468.95 |
Company Details
- Shanti Inorganics Limited
- Plot No.-2015, Phase III GIDC, Vatva, Ahmedabad - 382445, Gujarat, India
- +91 97277 52562
- info@shantiinorganics.com
- https://shantiinorganics.com/
Registrar Details
- KFin Technologies Limited
- +91 40 6716 2222
- shanti.ipo@kfintech.com
- https://www.kfintech.com/
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Sources
We match Shanti Inorganics SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- KFin Technologies LimitedOfficial site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.