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₹79 - 83 Amounts at the upper price band.
Shanti Inorganics Ltd
ChemicalsIPOSME
₹79 - 83
We are engaged in the business of manufacturing and supply of sulphur based inorganic chemicals. We hold one of the largest domestic production capacities for bisulphites with capacity of 18,800 MTPA. Our product portfolio consists of ammonium bisulphite solution, sodium bisulphite powder or solution, sodium meta bisulphite and sodium sulphite powder anhydrous, which are primarily used as preservatives, reducing agents, oxygen scavengers and process intermediates across multiple industries such as food and beverages, chemicals, oil drilling, pharmaceuticals, ceramics, agrochemicals, water treatment, petrochemicals, cosmetics, paints, polymers, boilers and mining. In the inorganic chemical industry, products are categorized into multiple purity levels based on their applications, including, food grade and technical grade.
Lot1,600Min Invest₹2,65,600Face Value₹10Issue Size₹47 CrFresh Issue₹47 CrListing Price₹158CMP₹189
Timeline
31 Aug
Bidding opens
2 Sept
Bidding closes
3 Sept
Allotment
4 Sept
Refund & demat credit
7 Sept
Listing
Subscription · As of 4:50 PM, 2 Sept
Shares & amount
CategorySubscriptionShares OfferedShares BidAmt ₹ CrQIB131.0x25.73 L33.71 Cr2,797.67NII145.0x7.72 L11.19 Cr928.93Retail125.6x18.01 L22.62 Cr1,877.14Total132.2x56.91 L75.21 Cr5,941.84
Reports
Offer Details
Terms
Issue Size₹47 Cr0.57 Cr shares
Fresh Issue₹47 Cr
Face Value₹10
Lot Size1,600 shares
ReservationQIB 49.96% · NII 15% · RETAIL 35.04%
Application Sizes
Retail₹2,65,6001-1 lots
sNII₹2,65,600from 2 lots
bNII₹10,62,400from 8 lots
Managers & Registrar
Lead ManagerVivro Financial Services Private Limited
RegistrarKFin Technologies Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group83.65%56.05%Public16.35%43.95%
Objects of the Issue
- 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
- General Corporate Purposes
Anchor Book
Bid Date28-Aug-2026Shares16,19,200Amount₹13 Cr30-day lock-in02-Oct-202690-day lock-in01-Dec-2026
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 46 | 45 | 57 | 71 |
| Operating ProfitCr | 7 | 9 | 12 | 15 |
| OPM% | 15.2 | 19.4 | 21.1 | 21.6 |
| PBTCr | 6 | 7 | 11 | 14 |
| PATCr | 5 | 5 | 8 | 10 |
| EPS | - | 80 | 126 | 9 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | - | 1 | 1 | 12 |
| ReservesCr | - | 17 | 25 | 37 |
| BorrowingsCr | - | 24 | 25 | 31 |
| Total AssetsCr | - | 53 | 66 | 97 |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | 3 | 3 | 16 | 6 |
| Investing Cash FlowCr | -5 | -19 | -16 | -22 |
| Financing Cash FlowCr | 2 | 17 | -1 | 16 |
| Net Cash FlowCr | 0 | 1 | -1 | 0 |
Strengths & Risks
Strengths · as stated in the DRHP
- 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 longterm relationships with suppliers.
- Certifications and compliance with quality and food safety standards.
- Experienced Promoters and Senior Management with extensive domain knowledge.
- Consistent financial performance.
Strategies · as stated in the DRHP
- Expansion of manufacturing capacity to support growth initiatives.
- Investment in new plant and machineries for enhanced productivity and cost efficiency.
- Continue to build our international and domestic customer base and geographic expansion into high-value western markets.
- Strategic expansion into new end-user industry segments.
- Strengthen and expand our sales and distribution network in India and international market.
Risks · as stated in the DRHP
- The company derives a substantial portion of its revenue from the food and beverages, oil drilling and chemical industries. Consequently, any material decline in the performance of the food and beverages, oil drilling and chemical industries, or the company's failure to sustain, grow, or efficiently manage its sales within these industries may materially and adversely affect the company's business operations, financial condition and results of operations.
- The Company derives revenue from diversified customers. Its inability to acquire new customers or loss of all or a substantial portion of any of the company's major customers, for any reason and/or continued reduction of the business from them, could have a material adverse impact on the company's business, results of operations, cash flows and financial condition.
- The company does not maintain long-term contractual arrangements with the majority of its customers. As a result, the loss of one or more key customers, or any significant reduction in their demand for the company's products, could materially and adversely affect its business operations, financial condition, results of operations and cash flows.
- Certain entities forming part of the company's Group Companies, are in the same line of business as its. There are no non-compete agreements between the Company and such Group Companies. The company cannot assure that the said entity will not expand which may increase its competition, which may adversely affect the company's business operations and financial condition.
- The company operates in a competitive industry, and increasing competition may adversely affect its business, financial condition and results of operations.
- A substantial portion of the company's revenue is derived from exports, exposing it to risks associated with international markets. Any adverse developments in these markets may materially and adversely affect the company's business operations, financial condition and results of operations.