Shellz India Limited IPO Details
BSE - SMEListed
SMEGMP TodayLive
₹6(+3.3%)
Est. Listing: ₹185
7-Day Trend
7 days ago: ₹4Latest: ₹6
Price Band₹170 - ₹179Lot: 800 Shares
Min Outlay₹1,36,000Retail Category
Closes On19 Oct 2026Bidding Deadline
Total Demand58.7xSubscription Book
Shellz India Limited IPO DetailsCore Specs
IPO Bidding Dates | 15 Oct 2026 to 19 Oct 2026 |
Allotment Date | 21 Oct 2026 |
Listing Date | 23 Oct 2026 |
Issue Price Band | ₹170 - ₹179 |
Market Lot Size | 800 Shares |
Face Value | ₹10 per share |
Total Issue Size | 33,50,400 Shares (₹59.97 Cr) |
Fresh Issue | 33,50,400 Shares (₹59.97 Cr) |
Offer For Sale (OFS) | - |
Listing Exchange(s) | BSE |
Pre-Issue Shares | 87,16,704 |
Post-Issue Shares | 1,20,67,104 |
Market Maker Portion | 3,29,600 Shares |
Lot(s) Distribution
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 1,600 | ₹2,86,400 |
| sHNI (Min) | 3 | 2,400 | ₹4,29,600 |
| bHNI (Min) | 7 | 5,600 | ₹10,02,400 |
Company Financials (In Crores)
| Period Ended | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| Assets | 229.36 | 213.72 | 167.36 | 147.04 |
| Revenue | 47.43 | 193.18 | 187.39 | 162.81 |
| Net Worth | 63.03 | 58.95 | 40.58 | 26.99 |
| Borrowing | 108.56 | 100.83 | 78.18 | 70.93 |
| PAT | 4.08 | 13.37 | 8.30 | 5.25 |
| Reserves | 54.31 | 50.24 | 39.89 | 26.35 |
Key Performance Indicators (KPI)
| Metric | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| ROCE (%) | 4.69 | 19.11 | 17.50 | 15.89 |
| RONW (%) | 6.47 | 22.68 | 20.46 | 19.47 |
| EPS (₹) | 4.68 | 15.37 | 9.59 | 6.09 |
| P/E Ratio | 13.24 | 11.65 | - | - |
About Shellz India Limited
Shellz India Ltd. is engaged in the manufacturing and marketing of a wide range of confectionery products in India, with a diversified portfolio of over 250 SKUs across categories such as chocolate-based products, jellies, baked treats, and other confectionery items. The company also manufactures and supplies food and bakery ingredients, catering to urban, semi-urban, and rural markets through a strong distribution network. Its consumer products are marketed under two key brands—“Hugs,” which targets the mass market with offerings across baked goods, chocolates, jellies, and sugar confectionery, and “Tosca,” positioned in the mass-premium segment with differentiated products and packaging for urban consumers. As of September 30, 2025, its products are distributed through more than 200 super stockists and are available across kirana stores in around 24 states. In addition to its branded business, the company undertakes private label manufacturing for third parties and exports its products to regions including the Middle East, Southeast Asia, and Europe, supporting diversification across markets and revenue streams.
Strengths & Growth Drivers
- Innovative Products Across Price Points: The Company develops differentiated confectionery products in various formats, categories and price ranges, including Dip Sticks and Push Up. Its in-house team of food and packaging technologists supports product development and innovation.
- Affordable Products for Mass Markets: Most of the Company’s SKUs are priced at ₹10 or below, catering to price-sensitive consumers and frequent impulse purchases across urban, semi-urban and rural markets in India.
- Wide Distribution Through Super Stockists: The Company distributes its products through a network of over 200 super stockists, helping it reach multiple states across India without requiring a large, field-intensive retail sales team.
Risk Factors
- Changing Consumer Preferences: The Company’s growth depends on understanding changing tastes, regional preferences and price sensitivity in the mass-market confectionery segment. Failure to adapt its products to consumer demand could reduce sales, customer loyalty and brand performance.
- High Debt & Repayment Risk: As of September 30, 2025, the Company had total sanctioned indebtedness of ₹10,181.88 lakhs and outstanding debt of ₹9,201.24 lakhs, with a Debt-Equity ratio of 1.76 times. Restrictive loan conditions and past repayment delays could create financial pressure and affect business operations.
- Pending Legal Proceedings: The Company, its subsidiaries, group companies, promoters and directors face various criminal, tax, statutory and civil proceedings. Claims involving ₹1,453.60 lakhs against the Company, among other matters, could lead to financial liabilities and adversely affect its financial condition and reputation.
Company Promoters
- Kapil Garg
- Shalini Garg
Lead Manager(s)
Socradamus Capital Private Limited
Current GMP Today+₹5.95Live Unofficial Premium
Estimated Listing Price₹143205.95Cap Price (₹143200) + GMP (₹5.95)
Estimated Listing Gain+0.0%Expected ROI per Share
Shellz India Limited Daily GMP Trend HistoryLive Daily Trend
| GMP Date | IPO Price | GMP (₹) | Est. Listing Price | Expected Gain (%) | Last Updated |
|---|---|---|---|---|---|
| 23 Oct 2026 | ₹179 | +₹5.95 | ₹184.95 | +3.3% | 06:37 PM |
| 22 Oct 2026 | ₹179 | +₹5.95 | ₹184.95 | +3.3% | 06:32 PM |
| 21 Oct 2026 | ₹179 | +₹21.25 | ₹200.25 | +11.9% | 06:34 PM |
| 20 Oct 2026 | ₹179 | +₹29.75 | ₹208.75 | +16.6% | 06:32 PM |
| 19 Oct 2026 | ₹179 | +₹39.1 | ₹218.10 | +21.8% | 04:37 AM |
| 18 Oct 2026 | ₹179 | +₹24 | ₹203.00 | +13.4% | 02:40 PM |
| 16 Oct 2026 | ₹179 | ₹0 | ₹179.00 | 0.0% | 10:51 AM |
| 15 Oct 2026 | ₹179 | ₹0 | ₹179.00 | 0.0% | 04:42 AM |
| 14 Oct 2026 | ₹179 | ₹0 | ₹179.00 | 0.0% | 08:20 AM |
| 12 Oct 2026 | ₹179 | ₹0 | ₹179.00 | 0.0% | 04:48 AM |
| 31 Mar 2026 | ₹179 | ₹0 | ₹0.00 | 0.0% | 06:22 AM |
Subscription Details (No. of Shares)Live Demand Book
| Category | Shares Offered | Shares Applied | Subscription Demand |
|---|---|---|---|
| QIB | 6,04,800 | 2,53,52,000 | 0x |
| NIB | 4,53,600 | 3,95,27,200 | 0x |
| RETAIL | 10,57,600 | 5,93,23,200 | 0x |
| HNIs(10L +) | 3,02,400 | 3,00,91,200 | 0x |
| HNIs (2-10L) | 1,51,200 | 94,36,000 | 0x |
Day Wise Subscription Details
| Day | Date | QIB (x) | NII (x) | Retail (x) | Total (x) |
|---|---|---|---|---|---|
| Day 1 | - | 0x | 0x | 0x | 0x |
| Day 2 | - | 0x | 0x | 0x | 0x |
| Day 3 | - | 0x | 0x | 0x | 0x |
IPO Reservation Breakup
| Investor Category | Shares Offered | Allocation (%) |
|---|---|---|
| Anchor | 9,04,800 | 27.01% |
| QIB | 6,04,800 | 18.05% |
| HNI | 4,53,600 | 13.54% |
| RETAIL | 10,57,600 | 31.57% |
| Market Maker | 3,29,600 | 9.84% |
Official IPO Documents & Filings
Red Herring Prospectus (RHP)
Complete issue guidelines, risks, financials, and company profile.
Draft Red Herring (DRHP)
Initial draft submitted to SEBI before price discovery.
Shellz India Limited IPO Review & FAQ
Everything you need to know about IPO GMP, Kostak, and listing expectations.
As of today, Shellz India Limited IPO Grey Market Premium (GMP) is trading at ₹6 per share. With an issue cap price of ₹179, the expected listing price is ₹185 (+3.3% gain).
UPCOMING15 OCT
OPEN15 OCT
CLOSE19 OCT
LISTED23 OCT
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Issue Key Information
Allotment StatusPrice Band₹170 - ₹179
Issue Cap Price₹179
Market Lot Size800 Shares
Min Retail Outlay₹1,36,000
Total Issue Size₹59.97 Cr
Listing ExchangesBSE
RegistrarBigshare Services Private Limited
IPO Lot & Return Calculator
1 Lot(s)
Total Shares Applied:800 shares
Required Investment (At Cap):₹1,43,200
Expected Listing Gain (@ GMP):+₹4,760
Estimated Portfolio Value:₹1,47,960