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₹59 - 62 Amounts at the upper price band.
Shivchem Agro Ltd
Agro ChemicalsIPOSME
₹59 - 62
We are ISO 9001:2015, ISO 22000:2018 and ISO 31000:2018 certified agrochemical company operating in India, engaged in the manufacturing, stocking, exhibiting, distribution, and sale of agricultural formulations. Our product portfolio includes insecticides, fungicides, herbicides, plant growth regulators, rodenticides, and fertilizers.
Lot2,000Min Invest₹2,48,000Face Value₹5Issue Size₹14 CrFresh Issue₹14 CrListing Price₹62CMP₹43
Timeline
28 Sept
Bidding opens
30 Sept
Bidding closes
1 Oct
Allotment
5 Oct
Refund & demat credit
6 Oct
Listing
Subscription · As of 7:56 PM, 30 Sept
Shares & amount
CategorySubscriptionShares OfferedShares BidAmt ₹ CrQIB1.00x1.03 L1.03 L0.64NII1.00x9.65 L9.68 L6.00Retail3.50x9.74 L34.14 L21.17Total2.14x22.60 L48.36 L28.53
Reports
Offer Details
Terms
Issue Size₹14 Cr0.23 Cr shares
Fresh Issue₹14 Cr
Face Value₹5
Lot Size2,000 shares
ReservationQIB 5.03% · NII 47.25% · RETAIL 47.72%
Application Sizes
Retail₹2,48,0001-1 lots
sNII₹2,48,000from 2 lots
bNII₹11,16,000from 9 lots
Managers & Registrar
Lead ManagerShannon Advisors Private Limited
RegistrarMaashitla Securities Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group92.73%64.91%Public7.27%35.09%
Objects of the Issue
- Funding the working capital requirements of the Company
- Repayment/prepayment, in full or part, of certain loans availed by the Company
- General corporate purposes
Anchor Book
30-day lock-in30-Oct-202690-day lock-in29-Dec-2026
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 0 | 2 | 11 | 27 | 34 |
| Operating ProfitCr | 0 | 0 | 2 | 4 | 6 |
| OPM% | 11.7 | 8.0 | 17.6 | 15.8 | 17.7 |
| PBTCr | 0 | 0 | 2 | 4 | 4 |
| PATCr | 0 | 0 | 1 | 3 | 3 |
| EPS | 6 | 1 | 9 | 12 | 6 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 0 | 0 | 0 | 3 | 3 |
| ReservesCr | 0 | 0 | 1 | 7 | 10 |
| BorrowingsCr | 0 | 1 | 7 | 8 | 7 |
| Total AssetsCr | 1 | 3 | 16 | 36 | 45 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | - | -1 | -4 | -3 | 2 |
| Investing Cash FlowCr | - | 0 | -1 | -3 | 0 |
| Financing Cash FlowCr | - | 1 | 6 | 6 | -2 |
| Net Cash FlowCr | - | 0 | 0 | 0 | 0 |
Strengths & Risks
Strengths · as stated in the DRHP
- Diversified product portfolio including a wide range of insecticides, fungicides, herbicides, plant growth regulators, rodenticides, and fertilizers.
- A large and diverse Distributors and Distribution Network.
- On-Field Product Demonstrations.
- Manufacturing facility with ability to manufacture a wide range of products.
- Enhanced Efficiency Through Automated Filling and Packaging Machines.
Strategies · as stated in the DRHP
- Engage in Job Work and Outsourced Contract Manufacturing (OCM).
- Continuing to Expand Our Product Offerings.
- Leverage our diverse product portfolio to expand into new markets.
- Continuing to Diversify Our Customer Base and Develop Distributor Relationships.
- Enhancing Our Business Through Branding and Promotional Activities.
Risks · as stated in the DRHP
- We require various statutory and regulatory approvals, including licenses under the Insecticides Act, 1968 and the Fertilizer Control Order, 1985 for our products. Any failure to successfully obtain such registrations or renew or maintain our statutory and regulatory permits and approvals required to operate our business and manufacturing facility would adversely affect our operations, results of operations and financial condition.
- We are subject to stringent technical specifications and quality requirements in relation to our products. Our failure to comply with the quality standards and technical specifications may lead to loss of business from such customers and could negatively impact our reputation, which would have an adverse impact on our business prospects and results of operations.
- Our products may become obsolete or ineffective, which could adversely affect our revenues, profitability, overall business prospects and results of operations.
- Our cost of materials consumed constituted a majority of the total expenses incurred in financial year ended March 31, 2026, 2025 and 2024. Any further increase in our costs of materials consumed or our inability to reasonably offset our costs with the prices of our products may have an adverse impact on our profitability.
- Our Company has paid capital advances to our Promoters for proposed property acquisitions. The transaction with Rohit Agarwal has been cancelled and the advance refunded, while the transaction with Sachin Agarwal remains incomplete and may expose us to forfeiture risk.
- We are dependent on our distribution network for the sale of our products to our end customers. Our revenue from operations is primarily driven through our Distributors. Any challenges in maintaining relationships with these Distributors or unfavourable market developments affecting Distributor driven sale could have an adverse impact on our business, operational performance, cash flows, and overall financial health.