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Shellz India IPOUPCOMING
Shellz India Limited is a confectionery manufacturer offering over 300 SKUs, including chocolates, jellies, candies and baked treats under its Hugs and Tosca brands.
Opens
15 Oct 26Closes
19 Oct 26Allotment
21 Oct 26Refund
22 Oct 26Demat
22 Oct 26Listing
23 Oct 26Bidding opens
in 1 day
15 – 19 Oct
Bids until 4:00 PM on the closing day.
Overview
Price band
₹170-179
Lot size
800 shares
Min. investment
₹2,86,400
Issue size
₹59.97 Cr
33.50 L shares
Fresh issue
₹59.97 Cr
33.50 L shares
Face value
₹10 / share
Issue type
Book Built Issue
Listing at
BSE
Reservation
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,600 | ₹2,86,400 |
| Retail (Max) | 2 | 1,600 | ₹2,86,400 |
| S-HNI (Min) | 3 | 2,400 | ₹4,29,600 |
| S-HNI (Max) | 6 | 4,800 | ₹8,59,200 |
| B-HNI (Min) | 7 | 5,600 | ₹10,02,400 |
Shellz India Live GMP
Not enough GMP history yet to draw a trend.
Subscription
Live category-wise bids appear here once bidding opens on 15 Oct 26. Reserved share of the issue:
Financials
(₹ in crores)
Key performance indicators
As of 30 Jun 2026ROE
6.69%
PAT Margin
8.63%
ROCE
4.69%
EBITDA Margin
18.04%
Debt to Equity Ratio
1.72
Price to Book Value
2.48
RoNW
6.47%
Valuation vs listed peers
EPS Pre IPO
₹15.34
EPS Post IPO
₹13.52
P/E Pre IPO
11.67
P/E Post IPO
13.24
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
+18.7%
Profit growth FY24 → FY26
+154.7%
ROCE
4.69%
- PAT margin 8.6% and ROCE 4.7%.
Strengths & risks
- Diversified Portfolio with 300+ SKUs across confectionery categories.
- Strong Distribution with 300+ super stockists across 24 states.
- Established Brands with Hugs and Tosca.
- In-house Manufacturing supporting scalability.
- Industry Growth Potential driven by demand for affordable confectionery.
Buzz score · Watch
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Repayment or prepayment, in full or in part, of certain outstanding borrowings availed by Company. | 22 |
| Funding the incremental working capital requirements. | 23 |
| General Corporate Purposes. | - |
Company & documents
Shellz India Limited is a Delhi-based confectionery manufacturing and marketing company engaged in producing chocolates, jellies, baked treats, candies and food and bakery ingredients. Incorporated in May 2012, the company offers over 300 SKUs across multiple product categories, catering to consumers in urban, semi-urban and rural markets.
The company markets its products under two brands:
- Hugs: The flagship mass-market brand offers baked treats, choco delights, jellies, and panned and sugar confectionery, including chocolates, wafers, biscuit sticks and candies, with most products priced at ₹10 or below.
- Tosca: Targets the mass-premium segment with differentiated chocolate and cereal-based products, including Tosca Oat Choco, focusing on modern retail, e-commerce and quick-commerce channels.
The company also manufactures food and bakery ingredients, undertakes private-label manufacturing and exports products to the Middle East, South Asia and Europe. Its manufacturing operations are supported by facilities in Delhi and Sonipat, Haryana, along with in-house product development and quality assurance capabilities.
As of March 31, 2026, the company had over 300 super stockists, distributing products through retail networks across approximately 24 Indian states.
As of August 31, 2026, Shellz India Limited employed 258 full-time employees across its operations.
Registrar
Company contact
Shellz India Limited
39/35, 2nd Floor, Main Rohtak Road, Near Shivaji Park Metro Station, West Punjabi Bagh, Shivaji Park, West Delhi, New Delhi, 110026
Phone: 011 4850 4850
Email: investor@shellz.in
Book running lead managers
- Socradamus Capital Private Limited
Promoters
- Kapil Garg
- Shalini Garg