Shanti Inorganics IPO

The Shanti Inorganics SME IPO runs from 31 Aug 2026 to 2 Sept 2026, offered at a price band of ₹79–83 per share, and is set to list on NSE. The company is looking to raise ₹47.24 crore through the offer. Retail investors bid in lots of 1600 shares, a minimum application of ₹2,65,600.

Issue structure

The IPO is structured entirely as a fresh issue of ₹41.5 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward 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; (₹43 crore), alongside general corporate purposes.

Financials

In FY2025, Shanti Inorganics reported revenue of ₹58.46 crore and a net profit of ₹8.26 crore. Revenue grew from ₹46.5 crore in FY2023 to ₹58.46 crore in FY2025 (+26.0%). Net worth stood at ₹25.86 crore at the end of FY2025. At the upper band, that puts the issue at roughly 11.6× FY2025 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 16.63× post-issue earnings and 3.27× book value, against a return on net worth of 38% and a debt-to-equity ratio of 0.98. These ratios come from the offer document and are for comparison, not a recommendation.

Promoters

The promoters of the company are <p>Manojkumar Jayantilal Patel, Avnish Manojkumar Patel</p>. Promoter holding stands at 83.65% before the issue and comes down to 0% after listing.

Grey market premium (GMP)

In the unofficial grey market, Shanti Inorganics shares are quoted at a premium of ₹0 implying an expected listing around ₹83, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

What to weigh

When evaluating the Shanti Inorganics IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Shanti Inorganics

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 &amp; paper and water treatment. The company's manufacturing facilities are located at plot no. 2015, phase III, GIDC, Vatva, Ahmedabad &ndash; 382445, Gujarat, India (&ldquo;Vatva Unit&rdquo; or &ldquo;Manufacturing Unit &ndash; I&rdquo;) and plot no. 5/A &amp; 5/B Sankalp industrial estate, Village: Chiyada, Ta.: Bavla, Ahmedabad (&ldquo;Bavla Unit&rdquo; or &ldquo;Manufacturing Unit &ndash; II&rdquo;). 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