Shanti Inorganics IPO
Price Band
₹79 – ₹83
Issue Size
₹47.24 Cr
Lot Size
1600 shares
Min ₹2,65,600
Issue Dates
31 Aug – 2 Sept 2026
Listing Date
7 Sept 2026
About Shanti Inorganics Limited
Shanti Inorganics Limited manufactures and trades sulfur-based inorganic chemicals, including sodium metabisulphite, sodium sulfite powder, ammonium bisulfite solution, and sodium bisulfite powder/solution. These products are used as preservatives, reducing agents, oxygen scavengers, and process intermediates in industries such as oil drilling, pharmaceuticals, food and beverages, pulp and paper, and water treatment. The company operates two manufacturing facilities in Gujarat, at GIDC Vatva, Ahmedabad and Sankalp Industrial Estate, Chiyada, Bavla, Ahmedabad, and sells in both domestic and international markets including the UAE, Malaysia, Qatar, Nigeria, Russia, Colombia, Turkey, Vietnam, Egypt, Ghana, and the Philippines.
IPO Details
| Price Band | ₹79 – ₹83 |
| Face Value | ₹10 |
| Lot Size | 1600 shares(Min ₹2,65,600) |
| Issue Size | ₹47.24 Cr |
| Fresh Issue | ₹47.24 Cr |
| Total Shares Offered | 56,91,200 |
| Listed On | NSE |
Objects of the Issue
Part funding of capital expenditure (approx. ₹43 crore) for setting up a new manufacturing facility for sodium meta bisulphite, sodium bisulphite powder and ammonium bisulphite at Bavla, Ahmedabad, Gujarat, with the balance for general corporate purposes.
Key Financial Metrics
EPS (Basic)
₹8.84
P/E Ratio
9.39x
ROE
27.68%
ROCE
23.4%
Debt / Equity
0.64
Financial Performance
| Particulars (₹ Cr) | FY2024 | FY2025 | FY2026 | 2M FY2027 (Apr-May 2026) |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| EBITDA | 8.72 | 12.06 | 15.4 | 4.02 |
| PAT | 5.12 | 7.99 | 10.22 | 2.5 |
| Total Assets | 52.69 | 66.04 | 97.04 | 110.73 |
| Net Worth | 17.6 | 25.6 | 48.24 | 50.74 |
| Total Borrowings | 24.34 | 25.38 | — | — |
Valuation
Market Capitalisation
P/E Ratio
Promoter Holding
Public Holding
Lot Size & Allocation
Investment by Category
| Category | Lot Size | Min Investment | Max Investment |
|---|---|---|---|
| Retail (RII) | 2 × 1600 | ₹2,65,600 | ₹2,65,600 |
| S-HNI | 3 × 1600 | ₹3,98,400 | ₹9,29,600 |
| B-HNI | 8 × 1600 | ₹10,62,400 | — |
Reservation / Allocation
| Category | Allocation | Cut-off |
|---|---|---|
| QIB | 50% | No |
| Retail | 35% | Yes |
| NII | 15% | No |
| Market Maker | — | No |
Registrar & Lead Managers
Peer Comparison
| Company | Listed | Mkt Cap (₹ Cr) | EPS (₹) | P/E | ROE % |
|---|---|---|---|---|---|
| Shanti Inorganics IPO (this IPO) | — | 143.15 | ₹8.84 | 9.39x | 27.68% |
| Devson Catalyst Ltd. | Yes | — | — | 9.66x | — |
| Vahh Chemicals Ltd. | Yes | — | — | 7.15x | — |
| Biopol Chemicals Ltd. | Yes | — | — | 19.73x | — |
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