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Shanti Inorganics IPOLISTED

NSESMEBook Built Issue

Shanti Inorganics manufactures and trades sulfur-based inorganic chemicals used across industries such as pharmaceuticals, food, oil drilling, and water treatment.

Compare

Listing price

₹157.7

+90.00%

Current price

—

Not available

Issue price

₹83

Upper band

Listed on

07 Sept 26

SHANTIINOR

Opens

31 Aug 26

Closes

02 Sept 26

Allotment

03 Sept 26

Refund

04 Sept 26

Demat

04 Sept 26

Listing

07 Sept 26

Listed at

₹157.7

+90.00% on 07 Sept 26

Min. investment₹2,65,600

GMP₹30 · +36.1%

Subscribed142.25x

Track in the app

Overview

Price band

₹79-83

Lot size

1600 shares

Min. investment

₹2,65,600

Issue size

₹47.24 Cr

56.91 L shares

Fresh issue

₹47.24 Cr

56.91 L shares

Face value

₹10 / share

Issue type

Book Built Issue

Listing at

NSE

Reservation

Anchor Investor 29.95%QIB 20.01%NII 15%Individual 35.04%

Category	Shares offered	% of issue
Anchor Investor	16,19,200	29.95%
QIB	10,81,600	20.01%
NII (HNI)	8,11,200	15%
B-HNI	5,40,800	—
S-HNI	2,70,400	—
Individual	18,94,400	35.04%
Total	54,06,400	100%

Lot size & investment

Application	Lots	Shares	Amount
Retail (Min)	2	3,200	₹2,65,600
Retail (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

Listing performance

NSE/BSE: SHANTIINOR

Listing gain

+90.00%

Gain per retail lot

₹2,39,040.00

Latest vs issue

—

GMP was

₹30 (+36.14%)

₹83

₹113+36.14%

₹157.70+90.00%

Issue price

GMP estimate

Listing price

Latest price shows here when a live quote is available (NSE main-board stocks).

Shanti Inorganics Live GMP

GMP₹30

Est. Price₹113

Est. Gain36.14%

Latest GMP

₹30

All-time high

₹35

All-time low

₹29

GMP × retail lot ₹96,000GMP × S-HNI min ₹1,44,000Expected listing ~ ₹113GMP is unofficial and changes often. Data as of 03 Sept, 12:00 am.

Subscription

03 Sept, 12:00 am

Oversubscribed 142.25 times · 91,786 applications

QIB

130.97x

NII (HNI)

195.88x

S-HNI

155.47x

B-HNI

216.09x

Retail

125.72x

Total

142.25x

Total applications

91,786

Total bid amount

₹4,471 Cr

Category breakdown

Category	Shares offered	Shares bid	Times	Bid amount
QIB	10,81,600	14,16,54,400	130.97x	₹1,176 Cr
NII (HNI)	8,11,200	15,89,00,800	195.88x	₹1,319 Cr
B-HNI	5,40,800	11,68,60,800	216.09x	₹970 Cr
S-HNI	2,70,400	4,20,40,000	155.47x	₹349 Cr
Retail	18,94,400	23,81,60,000	125.72x	₹1,977 Cr
Total	37,87,200	53,87,15,200	142.25x	₹4,471 Cr

Application-wise breakup

Category	Applications reserved	Applied	Times
B-HNI	113	8,914	78.88x
S-HNI	56	8,354	149.18x
Retail	592	74,425	125.72x

Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).

Financials

(₹ in crores)

Key performance indicators

As of 31 May 2026

ROE

5.05%

PAT Margin

15.53%

ROCE

4.45%

EBITDA Margin

25.16%

Debt to Equity Ratio

0.69

Price to Book Value

1.89

RoNW

5.05%

Valuation vs listed peers

EPS Pre IPO

₹8.84

EPS Post IPO

₹8.7

P/E Pre IPO

9.39

P/E Post IPO

9.54

Buzz AI analysis

From this IPO's filings and market data · educational, not investment advice

Revenue growth FY24 → FY26

+61.9%

Profit growth FY24 → FY26

+99.6%

ROCE

4.45%

PAT margin 15.5% and ROCE 4.5%.

Strengths & risks

Diversified sulphur-based inorganic chemical portfolio.
Multiple industry applications and diversified customer base.
Strategic plant locations near key raw material sources.
ISO, HACCP, NSF, Halal and Kosher certifications.
Capacity expansion through the second manufacturing facility.

6.3/10

Buzz score · Neutral

From GMP, subscription and issue size

Financials5.2

Growth7.0

Business5.5

Demand8.7

Risk7.2

Objects of the issue

Purpose	Amount (₹ Cr)
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
General Corporate Purposes.	-

Company & documents

Shanti Inorganics Ltd. manufactures and trades sulphur-based inorganic chemicals, including sodium metabisulphite, sodium bisulphite, ammonium bisulphite and sodium sulphite, serving industries such as oil drilling, pharmaceuticals, food & beverages, pulp & paper and water treatment.

The company operates two manufacturing facilities in Ahmedabad, Gujarat: the Vatva Unit and Bavla Unit, manufacturing its range of sulphur-based inorganic chemicals.

Products: