Shanti Inorganics Ltd. manufactures and trades sulphur-based inorganic chemicals, including sodium metabisulphite, sodium bisulphite, ammonium bisulphite and sodium sulphite, serving industries such as oil drilling, pharmaceuticals, food & beverages, pulp & paper and water treatment.
The company operates two manufacturing facilities in Ahmedabad, Gujarat: the Vatva Unit and Bavla Unit, manufacturing its range of sulphur-based inorganic chemicals.
Products:
- Sodium Sulphite Anhydrous
- Sodium Metabisulphite
- Sodium Bisulphite Solution/Powder
- Ammonium Bisulphite
Shanti Inorganics IPO – Details
| IPO Opening Date | 31 August 2026 |
| IPO Closing Date | 02 September 2026 |
| Issue Type | Book Building IPO |
| Issue Size | Total Issue: 56,91,200 Shares Worth ₹47.24 Crore Fresh Issue: 56,91,200 Shares Worth ₹47.24 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹79 – ₹83 per share |
| Market Lot | 1600 Shares |
| Min Order | 1600 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | Kfin Technologies Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Shanti Inorganics IPO – Date Schedule
| IPO Open Date | 31 August 2026 |
| IPO Close Date | 02 September 2026 |
| Basis of Allotment | 03 September 2026 |
| Initiation of Refund | 04 September 2026 |
| Credit of Shares to Demat | 04 September 2026 |
| IPO Listing Date | 07 September 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 02, 2026 |
Shanti Inorganics IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹2,65,600 |
| Retail (Max) | 2 | 3,200 | ₹2,65,600 |
| S-HNI (Min) | 3 | 4,800 | ₹3,98,400 |
| S-HNI (Max) | 7 | 11,200 | ₹9,29,600 |
| B-HNI (Min) | 8 | 12,800 | ₹10,62,400 |
Competitive Strength
- Geographical diversification through exports to international market.
- Long standing relationship with diversified customers across multiple industries.
- Strategically located production facilities with access to abundant resources of raw materials and long-term relationships with suppliers.
- Certifications and compliance with quality and food safety standards.
Company Promoters
- Manojkumar Jayantilal Patel
- Avnish Manojkumar Patel
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹46.50 Cr | ₹40.06 Cr | ₹4.60 Cr | ₹5.63 Cr |
| 31 March 2024 | ₹45.06 Cr | ₹38.20 Cr | ₹5.12 Cr | ₹24.34 Cr |
| 31 March 2025 | ₹58.46 Cr | ₹47.42 Cr | ₹7.99 Cr | ₹25.38 Cr |
| 31 March 2026 | ₹72.93 Cr | ₹59.11 Cr | ₹10.22 Cr | – |
| 31 May 2026 | ₹16.10 Cr | ₹12.73 Cr | ₹2.50 Cr | – |
Key Performance Indicator
| KPI | Values (May 31, 2026) |
|---|---|
| ROE | 5.05% |
| ROCE | 4.45% |
| Debt/Equity | 0.69 |
| RoNW | 5.05% |
| PAT Margin | 15.53% |
| EBITDA Margin | 25.16% |
| NAV | 43.91 |
| Price to Book Value | 1.89 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.84 | 8.70 |
| P/E (x) | 9.39 | 9.54 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Part funding the capital expenditure towards setting up a new facility for manufacturing of sodium meta bisulphite, sodium bisulphite powder and ammonium bisulphite situated at Bavla, Ahmedabad, Gujarat; | ₹43.00 |
| General Corporate Purpose. | – |
✅Strengths
- Diversified sulphur-based inorganic chemical portfolio.
- Multiple industry applications and diversified customer base.
- Strategic plant locations near key raw material sources.
- ISO, HACCP, NSF, Halal and Kosher certifications.
- Capacity expansion through the second manufacturing facility.
⚠️Risks
- High dependence on top customers for revenue.
- Limited long-term contractual arrangements with customers.
- Dependence on key raw materials and their prices.
- Working capital and short-term borrowing pressure.
- Demand fluctuations in key end-use industries.
Shanti Inorganics IPO Promoter Holding
| Pre-Issue Share Holding | 83.65% |
| Post Issue Share Holding | – |
Shanti Inorganics IPO Prospectus
Company Contact Information
| Shanti Inorganics Limited Plot No.-2015, Phase III GIDC, Vatva Ahmedabad, Gujarat, 382445 Phone: +91-97277 52562 Email: info@shantiinorganics.com Website: https://shantiinorganics.com/ |
Shanti Inorganics IPO Registrar
| Kfin Technologies Ltd. Phone: 040-79615565 Email: shanti.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
Shanti Inorganics IPO Lead Manager(s)
| 1. Vivro Financial Services Pvt. Ltd. |
Shanti Inorganics IPO FAQ
| What is the Shanti Inorganics IPO? Shanti Inorganics IPO is an SME IPO. The issue is priced at ₹79 – ₹83 per equity share. The IPO is to be listed on NSE SME. |
| When will Shanti Inorganics IPO open? The IPO is to open on 31 August 2026 for QIB, NII, and Retail Investors. |
| What is Shanti Inorganics IPO Investors’ Portion? The investor’s portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Shanti Inorganics IPO Size? Shanti Inorganics IPO size is ₹47.24 Crore. |
| What are the Shanti Inorganics IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 3200 Shares for ₹2,65,600, while the maximum bid is 3200 Shares for ₹2,65,600. |
| What is the Shanti Inorganics IPO Allotment Date? Shanti Inorganics IPO allotment date is 03 September 2026. |
| What is the Shanti Inorganics IPO Listing Date? Shanti Inorganics IPO listing date is 07 September 2026. The IPO is to be listed on the NSE SME. |
