Shah Investor’s Home Limited (SIHL) is a retail-focused financial services company with over three decades of experience in the securities market. It primarily provides equity and derivatives broking, along with depository services, margin trading, mutual fund distribution and other financial products under the “Shah Investors” brand.
As of March 31, 2026, SIHL had 38,189 active clients, over 1,00,000 demat accounts and 181+ authorised persons, operating through 11 branches across Gujarat and Maharashtra. The Company began NSE operations in 1995 and became an NSDL depository participant in 1997.
Broking is SIHL’s primary business segment, covering equity, F&O, currency derivatives and commodities through NSE, BSE and MCX. Brokerage income stood at ₹4,630.20 lakh in FY2026, contributing 64.78% of revenue from operations.
The Company also offers margin trading, depository services and financial product distribution. Its MTF book stood at ₹2,096.26 lakh as of March 31, 2026, while it distributes mutual funds and third-party PMS products through online and offline channels.
Technology is an important part of SIHL’s operations, with SIHL Moneymaker for digital trading, SIHL Fundspro for mutual fund investments and ALGOFY, an API-powered algorithmic trading platform launched in FY2026. As of March 31, 2026, Moneymaker had 33,287+ downloads and 12,452 trading clients.
SIHL has a relationship-driven business model, with 27,728 active clients associated with the Company for over five years as of March 31, 2026, representing 72.61% of active clientele. The Company focuses on expanding its brokerage business, authorised-person and branch network, digital adoption, and reach across Tier 2 and Tier 3 cities.
As of July 31, 2026, SIHL had 167 permanent employees across trading, sales, IT, demat, compliance, research, accounts, MTF & SLB, helpdesk and other functions.
Shah Investor’s Home IPO – Details
| IPO Opening Date | 28 September 2026 |
| IPO Closing Date | 30 September 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 53,99,200 Shares Worth ₹90.17 Crore Fresh Issue: 53,99,200 Shares Worth ₹90.17 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹159 – ₹167 per share |
| Market Lot | 85 Shares |
| Min Order | 85 Shares [1 Lot] |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Shah Investor’s Home IPO – Date Schedule
| IPO Open Date | 28 September 2026 |
| IPO Close Date | 30 September 2026 |
| Basis of Allotment | 01 October 2026 |
| Initiation of Refund | 05 October 2026 |
| Credit of Shares to Demat Account | 05 October 2026 |
| IPO Listing Date | 06 October 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 30, 2026 |
Shah Investor’s Home IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 85 | ₹14,195 |
| Retail (Max) | 14 | 1190 | ₹1,98,730 |
| S-HNI (Min) | 15 | 1275 | ₹2,12,925 |
| S-HNI (Max) | 70 | 5950 | ₹9,93,650 |
| B-HNI (Min) | 71 | 6035 | ₹10,07,845 |
Competitive Strength
- Sizeable retail clientele across Gujarat.
- Established branch and authorised-person network.
- Digital platforms including SIHL Moneymaker and ALGOFY.
- Technology-enabled trading and client-service infrastructure.
- Integrated brokerage model with long-term client relationships.
- Long-standing experience in retail broking and financial services.
Company Promoters
- Upendra Trikamlal Shah
- Purnima Upendra Shah
- Tanmay Upendra Shah
- Trupti Utpal Shah
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹79.05 Cr | ₹55.05 Cr | ₹18.05 Cr | ₹3.54 Cr |
| 31 March 2025 | ₹94.47 Cr | ₹63.06 Cr | ₹23.42 Cr | ₹5.71 Cr |
| 31 March 2026 | ₹72.40 Cr | ₹54.09 Cr | ₹13.11 Cr | ₹18.47 Cr |
Key Performance Indicator
| KPI | Values (June 30, 2026) |
|---|---|
| ROE | 7.59% |
| ROCE | 10.61% |
| Debt/Equity | 0.10 |
| RoNW | 7.35% |
| PAT Margin | 18.24% |
| EBITDA Margin | 30.24% |
| NAV | 114.07 |
| Price to Book Value | 1.46 |
| Pre IPO | Post IPO | |
| EPS (₹) | 8.32 | 6.20 |
| P/E (x) | 20.07 | 26.94 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Funding working capital requirements of the Company. | ₹60.00 |
| General Corporate Purposes. |
Shah Investor’s Home IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 2 | SMC Global Securities Limited | 16.28 |
| 2 | 2 | Share India Securities Limited | 11.68 |
| 3 | 1 | Arihant Capital Markets Limited | 27.09 |
✅Strengths
- Established Track Record with 30+ years in broking.
- Diversified Services across broking, MTF, depository and distribution.
- Strong Client Base with long-standing client relationships.
- Digital Platforms including Moneymaker, Fundspro and ALGOFY.
- Wide Network of 181+ authorised persons and 11 branches.
⚠️Risks
- Market Dependence as brokerage income is linked to trading activity.
- High Competition from discount and digital brokers.
- Technology Risks including disruptions and cybersecurity threats.
- Regulatory Risks from changing SEBI and exchange requirements.
- Network Risks from dependence on authorised persons.
Shah Investor’s Home IPO Promoter Holding
| Pre Issue Share Holding | 84.34% |
| Post Issue Share Holding | 62.81% |
Shah Investor’s Home IPO Prospectus
Company Contact Information
| Shah Investor’s Home Ltd. 810, X-Change Plaza DSCCSL (53E), Road 5E Block 53, Zone 5, Gift City Gandhinagar, Gujarat, 382050 Phone: +91 9904053335 Email: company.secretary@sihl.in Website: https://www.sihl.in/ |
Shah Investor’s Home IPO Registrar
| MUFG Intime India Pvt. Ltd. Phone: 022-49186000 Email: shahInvestors.ipo@in.mpms.mufg.com Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
Shah Investor’s Home IPO Lead Manager(s)
| 1. Beeline Capital Advisors Pvt. Ltd. |
Shah Investor’s Home IPO FAQs
| What is the Shah Investor’s Home IPO? Shah Investor’s Home IPO is a main-board IPO. The issue is priced at ₹159 to ₹167 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the Shah Investor’s Home IPO open? The IPO is to open on 28 September 2026 for QIB, NII, and Retail Investors. |
| What is Shah Investor’s Home IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Shah Investor’s Home IPO Size? Shah Investor’s Home IPO size is ₹90.17 Crore. |
| What are the Shah Investor’s Home IPO Minimum and maximum lot sizes for Retail? The minimum bid is 85 Shares with ₹14,195, while the maximum bid is 1190 Shares with ₹1,98,730. |
| What is the Shah Investor’s Home IPO Allotment Date? Shah Investor’s Home IPO allotment date is 01 October 2026. |
| What is the Shah Investor’s Home IPO Listing Date? Shah Investor’s Home IPO listing date is 06 October 2026. The IPO is to be listed on the BSE and the NSE. |
