Shanti Inorganics Limited IPO Details

Factual IPO information from public filings. Not investment advice.

Issue Details

Price Band: ₹79 – ₹83
Lot Size: 1,600 shares
Min. Investment: ₹1,32,800
Total Issue Size: ₹47.24 Cr; 56,91,200 shares
Fresh Issue: ₹47.24 Cr; 56,91,200 shares
Offer for Sale: ₹0 Cr
Face Value: ₹10 per share
Issue Type: Book-built IPO
Listing At: NSE SME
Shares Pre-Issue: 1,15,56,200
Shares Post-Issue: 1,72,47,400

Lot Size & Investment

1 lot = 1,600 shares

Retail (min)

2 lots · 3,200 shares

Retail (max)

2 lots · 3,200 shares

S-HNI (min)

3 lots · 4,800 shares

Application	Lots	Shares	Amount
Retail	2	3,200	₹2,65,600
Small HNI (S-HNI)	3	4,800	₹3,98,400
Big HNI (B-HNI)	8	12,800	₹10,62,400

Financial Performance

Restated figures in ₹ crore, unless stated otherwise

Financial performance by period
Period	May-26	Mar-26	Mar-25	Mar-24
Assets	110.73	97.04	66.04	52.69
Total Income	16.1	72.93	58.46	45.06
Profit After Tax	2.5	10.22	7.99	5.12
EBITDA	4.02	15.4	12.06	8.72
Net Worth	50.74	48.24	25.6	17.6
Reserves & Surplus	39.18	36.68	24.96	16.97
Total Borrowing	—	—	25.38	24.34

Key Performance Indicators

Key performance indicators
Period	May-26	Mar-26
ROE (%)	5.05	27.68
ROCE (%)	4.45	23.4
EPS (₹)	—	8.84
P/E (pre-issue)	—	9.39
P/E (post-issue)	—	9.54

About Shanti Inorganics Limited

Incorporated in January 2010, Shanti Inorganics Ltd. manufactures and trades sulfur-based inorganic chemicals. Its main products include sodium metabisulphite, sodium sulfite powder, ammonium bisulfite solution, and sodium bisulfite powder/solution. These products are mainly used as preservatives, reducing agents, oxygen scavengers, and process intermediates across industries such as oil drilling, pharmaceuticals, food and beverages, pulp and paper, and water treatment. The company operates two manufacturing facilities in Gujarat: one at GIDC, Vatva, Ahmedabad, and the other at Sankalp Industrial Estate, Chiyada, Bavla, Ahmedabad. The company sells its products in both domestic and international markets. In the domestic market, it served 29 customers during the two-month period ended May 31, 2026, compared with 64 customers in Fiscal 2026, 48 in Fiscal 2025, and 46 in Fiscal 2024. In international markets, it served 8 customers during the two-month period ended May 31, 2026, compared with 20 customers in Fiscal 2026 and 21 customers each in Fiscal 2025 and Fiscal 2024. The company exports its products to several countries, including the United Arab Emirates, Malaysia, Qatar, Nigeria, Russia, Colombia, Turkey, Vietnam, Egypt, Ghana, the Philippines, and others. As of May 31, 2026, the company had 66 employees across various departments. Key Strengths Growing international presence : The company sells its products in several overseas markets, reducing its dependence on the domestic market. Diversified customer base: It has established relationships with customers across multiple industries, which helps reduce dependence on any single sector. Strategic manufacturing locations: Its production facilities are located in Gujarat, providing access to raw materials and established supplier relationships. Quality and safety standards: The company follows relevant quality and food safety standards and holds certifications supporting its manufacturing and product quality.