Shanti Inorganics IPO Details

Bookbuilding IPO | ₹42 Cr | Listing at NSE SME | Mon, Aug 31, 2026 - Wed, Sep 2, 2026

Shanti Inorganics IPO is a book build issue of ₹41.50 crores. The issue is entirely a fresh issue of 0.50 crore shares of ₹41.50 crore.

Shanti Inorganics IPO opens for subscription on Aug 31, 2026 and closes on Sep 2, 2026. The allotment for the Shanti Inorganics IPO is expected to be finalized on Sep 3, 2026. Shanti Inorganics IPO will list on the NSE SME with a tentative listing date fixed as Sep 7, 2026.

Shanti Inorganics IPO is set issue price band at ₹79 to ₹83 per share. The lot size for an application is 1,600 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,65,600 (3,200 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (4,800 shares), amounting to ₹3,98,400.

Vivro Financial Services Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.

Refer to Shanti Inorganics IPO DRHP for detailed Information.

IPO Open

Mon, Aug 31, 2026

IPO Close

Wed, Sep 2, 2026

Price Band

₹79 to ₹83

Market Cap*

₹137.42 Cr * on Upper Price

IPO Details

IPO Date

31 Aug to 2 Sep, 2026
Listing Date

Mon, Sep 7, 2026
Face Value

₹10 per share
Price Band

₹79 to ₹83
Lot Size

1,600 Shares
Sale Type

Fresh capital only
Issue Type

Bookbuilding IPO
Listing At

BSE, NSE

Total Issue Size

50,00,000 shares (agg. up to ₹42 Cr)
Fresh Issue

50,00,000 shares (agg. up to ₹42 Cr)
Share Holding Pre Issue

1,15,56,200 shares
Share Holding Post Issue

1,65,56,200 shares

IPO Open

Mon, Aug 31, 2026
Allotment

Thu, Sep 3, 2026
Credit of Shares

Fri, Sep 4, 2026

IPO Close

Wed, Sep 2, 2026
Refund

Fri, Sep 4, 2026
Listing

Mon, Sep 7, 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 3,200 shares and in multiples of 1,600 shares thereof.

Application	Lots	Shares	Amount
Individual investors (IND) (Min)	2	3,200	₹2,65,600
Individual investors (IND) (Max)	2	3,200	₹2,65,600
S-HNI (Min)	3	4,800	₹3,98,400
S-HNI (Max)	7	11,200	₹9,29,600
B-HNI (Min)	8	12,800	₹10,62,400

About Shanti Inorganics Ltd.

Updated on Aug 24, 2026

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 & paper and water treatment.

The company’s manufacturing facilities are located at plot no. 2015, phase III, GIDC, Vatva, Ahmedabad – 382445, Gujarat, India (“Vatva Unit” or “Manufacturing Unit – I”) and plot no. 5/A & 5/B Sankalp industrial estate, Village: Chiyada, Ta.: Bavla, Ahmedabad (“Bavla Unit” or “Manufacturing Unit – II”).

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

Company Financials (Restated)

(Amount in ₹ Crore)

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	66.04	52.69	27.57
Total Income	58.46	45.06	46.50
Profit After Tax	8.26	5.12	4.60
EBITDA	12.11	8.73	6.97
NET Worth	25.86	17.60	12.49
Reserves and Surplus	25.23	16.97	11.85
Total Borrowing	25.38	24.34	5.63

Recently Listed IPOs in Specialty Chemicals

Company	Issue Type	Issue Size	Issue Price	PE Ratio	Listing Day Close	Listing Gain/Loss %	LTP
Devson Catalyst Ltd.	SME	₹42.34 Cr	₹118	9.66	₹205.95	+74.53%	₹272.10
Vahh Chemicals Ltd.	SME	₹13.45 Cr	₹60	7.15	₹66.50	+10.83%	₹49.02
Biopol Chemicals Ltd.	SME	₹31.26 Cr	₹108	19.73	₹105.50	-2.31%	₹97.00

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 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;

43.00
2 General corporate purposes

Key Performance Indicator (KPI)

KPI	Mar 31, 2025
ROE	38.00%
ROCE	27.20%
Debt/Equity	0.98
RoNW	38.00%
PAT Margin	14.13%
EBITDA Margin	21.21%
NAV	25.42
Price to Book Value	3.27

IPO Valuation

Valuation Metric	Pre IPO	Post IPO
EPS (₹)	7.15	4.99
P/E (x)	11.61	16.63
Market Cap at Offer Price	₹96Cr.	₹137.42 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, 2025 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2025 available in RHP.

Shareholding Structure

Category	Pre IPO	Post IPO
Promoter and Promoter Group	83.65%
Public	16.35%
Total	100%

Company Promoters: Manojkumar Jayantilal Patel and Avnish Manojkumar Patel.

IPO Registrar

Kfin Technologies Ltd.

040-79615565
shanti.ipo@kfintech.com
Visit Website

IPO Lead Manager(s)

Vivro Financial Services Pvt.Ltd.

Lead Manager Reports

Lead Manager Performance Summary
Lead Manager Performance Tracker

Contact Details

Shanti Inorganics Ltd. Address

Plot No.-2015,

Phase III GIDC, Vatva

Ahmedabad, Gujarat, 382445

+91-97277 52562
info@shantiinorganics.com
Visit Website

IPO FAQs

What is the Shanti Inorganics IPO?

Shanti Inorganics IPO is a SME IPO of 50,00,000 equity shares of the face value of ₹10 aggregating up to ₹42 Crores. The issue is priced at ₹79 to ₹83. The minimum order quantity is 1600.

The IPO opens on Mon, Aug 31, 2026, and closes on Wed, Sep 2, 2026.

Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

How to apply in Shanti Inorganics IPO through Angel One?

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

Steps to apply in Shanti Inorganics IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Shanti Inorganics 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.

When Shanti Inorganics IPO will open?

The Shanti Inorganics IPO opens on Mon, Aug 31, 2026 and closes on Wed, Sep 2, 2026.

What is the lot size of Shanti Inorganics IPO?

Shanti Inorganics IPO lot size is 1600, and the minimum amount required for application is ₹2,65,600, with 2 lots being the minimum application size.

How to apply for Shanti Inorganics IPO?

You can apply in Shanti Inorganics 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.

When is Shanti Inorganics IPO allotment?

The finalization of Basis of Allotment for Shanti Inorganics IPO will be done on Thursday, September 3, 2026, and the allotted shares will be credited to your demat account by Fri, Sep 4, 2026. Check the Shanti Inorganics IPO allotment status.

When is Shanti Inorganics IPO listing date ?

The Shanti Inorganics IPO listing date is not yet announced. The tentative date of listing is Mon, Sep 7, 2026.