Advisory

Choose your Partner

Both partners offer free account opening and dedicated support.

Angel One

Best for active traders

₹ 0 Account Opening Open Account →

Motilal Oswal

Best for long-term wealth

₹ 0 Account Opening Open Account →

IPO Open

Mon, Sep 28, 2026

IPO Close

Wed, Sep 30, 2026

Price Band

₹159 to ₹167

Market Cap

₹353.26 Cr * on Upper Price

IPO Details

  • IPO Date
    28 to 30 Sep, 2026
  • Listing Date
    Tue, Oct 6, 2026
  • Face Value
    ₹10 per share
  • Price Band
    ₹159 to ₹167
  • Lot Size
    85 Shares
  • Sale Type
    Fresh capital only
  • Issue Type
    Bookbuilding IPO
  • Listing At
    BSE, NSE
  • Total Issue Size
    53,99,200 shares (agg. up to ₹90 Cr)
  • Fresh Issue
    53,99,200 shares (agg. up to ₹90 Cr)
  • Share Holding Pre Issue
    1,57,54,000 shares
  • Share Holding Post Issue
    2,11,53,200 shares

IPO Timetable (Tentative)

  • IPO Open
    Mon, Sep 28, 2026
  • Allotment
    Thu, Oct 1, 2026
  • Credit of Shares
    Mon, Oct 5, 2026
  • IPO Close
    Wed, Sep 30, 2026
  • Refund
    Mon, Oct 5, 2026
  • Listing
    Tue, Oct 6, 2026

Issue Reservation

Investor Category Shares
QIB Not more than 50% of the Net Issue
Retail Not less than 35% of the Net Issue
NII Not less than 15% of the Net Issue

IPO Lot Size

Investors can bid for a minimum of 85 shares and in multiples thereof.

Application Lots Shares Amount
Retail (Min) 1 85 ₹14,195
Retail (Max) 14 1190 ₹1,98,730
S-HNI (Min) 15 1275 ₹2,12,925
S-HNI (Max) 70 5950 ₹9,93,650
B-HNI (Min) 71 6035 ₹10,07,845

About Shah Investor’s Home Ltd.;

Incorporated in October 1994, Shah Investor’s Home Limited is a retail broking company providing a range of financial services, with over three decades of experience in the securities market. The Company primarily offers equity and derivatives brokerage services, facilitating the buying and selling of equities, IPOs and other securities for retail customers, including resident and non-resident Indians. In addition to its core brokerage operations, the Company provides mutual fund distribution, margin funding, and stock lending and borrowing (SLB) services under the brand name “Shah Investors”. As of March 31, 2026, the Company had served over 1,00,000 demat accounts, with more than 38,000 active clients and a network of over 181 authorised persons.

The Company operates through 11 branches across Mumbai, Ahmedabad, Vadodara, Junagadh, Gandhinagar and Rajkot, with its branch and authorised-person network primarily serving customers across Gujarat and Maharashtra. The Company started its operations as a Trading Member of the National Stock Exchange of India Limited in 1995 and registered as a Depository Participant with NSDL in 1997.

The Company has progressively adopted technology across its operations. It implemented a VMWare-based virtualised environment in 2007, launched its digital app-based platform “SIHL Moneymaker” in 2023, and had over 12,452 active registered users as of March 31, 2026. It also operates an in-house ERP system across its branches and franchises. In Fiscal 2026, the Company launched “ALGOFY”, an API-powered algorithmic trading platform that enables strategy development, testing, deployment, automation and management through APIs, pre-built strategies and a no-code interface.The Company is supported by an experienced management team and focuses on building long-term client relationships while expanding its retail and HNI customer base.

As of July 31, 2026, the Company had 167 permanent employees across accounts, compliance, demat, helpdesk, research, IT, MTF & SLB, sales, trading and other functions.

Competitive Strengths

  • Sizeable retail clientele across Gujarat.
  • Established branch and authorised-person network.
  • Digital platforms including SIHL Moneymaker and ALGOFY.
  • Technology-enabled trading and client-service infrastructure.
  • Integrated brokerage model with long-term client relationships.
  • Long-standing experience in retail broking and financial services.

Company Financials (Restated Consolidated)

Shah Investor’s Home Ltd.;’s revenue decreased by 23% and profit after tax (PAT) dropped by 44% between the financial year ending with March 31, 2026 and March 31, 2025.    (Amount in ₹ Crore)

Period Ended 31 Mar 2026 31 Mar 2025 31 Mar 2024
Assets 304.44 302.57 298.76
Total Income 72.40 94.47 79.05
Profit After Tax 13.11 23.42 18.05
EBITDA 21.62 35.31 25.13
NET Worth 179.71 168.09 150.54
Reserves and Surplus 163.95 152.34 134.79
Total Borrowing 18.47 5.71 3.54

IPO 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 working capital requirements of the Company
    60.00
  • 2 General Corporate Purposes
  • Total
    60.00

Key Performance Indicator (KPI)

Key Performance Indicator (KPI)

KPI Mar 31, 2026
ROE 7.59%
ROCE 10.61%
Debt/Equity 0.10
RoNW 7.35%
PAT Margin 18.24%
EBITDA Margin 30.24%
NAV 114.07
Price to Book Value 1.46

IPO Valuation

Valuation Metric Pre IPO Post IPO
EPS (₹) 8.32 6.20
P/E (x) 20.07 26.94
Market Cap at Offer Price ₹263.09 Cr. ₹353.26 Cr
  • The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.

Shareholding Structure

Category Pre IPO Post IPO
Promoter and Promoter Group 84.34% 62.81%
Public 15.66% 37.19%
Total 100% 100%

Company Promoters: Upendra Trikamlal Shah, Purnima Upendra Shah, Tanmay Upendra Shah and Trupti Utpal Shah.

Shah Investor’s Home IPO Recommendations

Review By Subscribe May Apply Neutral Avoid
Brokers 0 0 0 0
Members 0 0 0 0

IPO Registrar

MUFG Intime India Pvt.Ltd.

IPO Lead Manager(s)

  1. Beeline Capital Advisors Pvt.Ltd.

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

Shah Investor’s Home Ltd.; Address
810, X-Change Plaza
DSCCSL (53E), Road 5E
Block 53, Zone 5, Gift City
Gandhinagar, Gujarat, 382050

IPO FAQs

Shah Investor’s Home IPO is a main-board IPO of 53,99,200 equity shares of the face value of ₹10 aggregating up to ₹90 Crores. The issue is priced at ₹159 to ₹167. The minimum order quantity is 85.

The IPO opens on Mon, Sep 28, 2026, and closes on Wed, Sep 30, 2026.

MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Angel One customers can apply online in Shah Investor’s Home IPO using UPI as a payment gateway. Angel One customers can apply in Shah Investor’s Home IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Shah Investor’s Home IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Shah Investor’s Home IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

The Shah Investor’s Home IPO opens on Mon, Sep 28, 2026 and closes on Wed, Sep 30, 2026.

Shah Investor’s Home IPO lot size is 85, and the minimum amount required for application is ₹14,195.

You can apply in Shah Investor’s Home IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for Shah Investor’s Home IPO will be done on Thursday, October 1, 2026, and the allotted shares will be credited to your demat account by Mon, Oct 5, 2026. Check the Shah Investor’s Home IPO allotment status.

The Shah Investor’s Home IPO listing date is not yet announced. The tentative date of listing is Tue, Oct 6, 2026.

Stock Broker Reviews India

★ 2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

★ 2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

★ 2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

★ 2.34/5
Angel One Limited 2

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

★ 2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

★ 2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

Advertisments

Compare India's most trusted brokers side-by-side to find your perfect match.