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Shellz India IPO Date, Price Band & GMP
Upcoming
SME IPO
BSE SME
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· updated 1 day ago
Price band
₹170 – 179
GMP
—
Est. listing price—
Est. listing gain—
Issue size₹59.97 Cr
Shellz India IPO Details
Open DateThu, 15 Oct 2026
Close DateMon, 19 Oct 2026
Listing DateFri, 23 Oct 2026
Listing AtBSE SME
Price Band₹170 – 179 per share
Lot Size800 shares
Min. Investment₹2,86,400
Issue Size₹59.97 Cr
Shellz India IPO Dates & Timeline
Tentative dates follow SEBI's T+3 listing timelineIPO Opens
Thu, 15 Oct
IPO Closes
Mon, 19 Oct
Basis of Allotment
Tue, 20 Oct
Tentative
Refunds Initiated
Wed, 21 Oct
Tentative
Shares Credited to Demat
Wed, 21 Oct
Tentative
Listing Date
Fri, 23 Oct
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Shellz India IPO GMP Today
All IPO GMP
GMP today
—
Est. listing price
—
Est. gain %
—
Est. profit / lot
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GMP for this IPO is not available yet. It usually appears a few days before the issue opens.
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Shellz India IPO Allotment Status
The registrar for this IPO is Bigshare Services. You can also check on the exchange websites using your PAN or application number.
New to this? Read how to check IPO allotment status or see all IPOs awaiting allotment.
Shellz India IPO Lot Size & Minimum Investment
At upper price band of ₹179| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,600 | ₹2,86,400 |
| Retail (Max) | 2 | 1,600 | ₹2,86,400 |
| S-HNI (Min) | 3 | 2,400 | ₹4,29,600 |
| S-HNI (Max) | 6 | 4,800 | ₹8,59,200 |
| B-HNI (Min) | 7 | 5,600 | ₹10,02,400 |
Shellz India IPO analysis: what the numbers say
Shellz India is involved in the manufacturing and marketing of confectionery products and the manufacturing and supply of food and bakery ingredients. The ₹59.97 Cr issue is entirely a fresh issue, so all the money goes to the company. Promoter holding falls from 88.11% to 63.64% after the issue. At the upper price band the issue values the company at a post-issue P/E of 13.2.
Revenue rose from ₹162.81 Cr in FY24 to ₹193.18 Cr in FY26, a compound annual growth of 8.9%. Profit after tax grew from ₹5.25 Cr to ₹13.37 Cr. That is a net profit margin of 6.9% in FY26.
Worked out by IPO Darbaar from the offer document, exchange data and the latest GMP. For information only, not a recommendation.
Shellz India IPO Issue Structure
Fresh issue ₹54 Cr (100%)
Offer for sale — (0%)
Face value₹10 / share
Market cap (post issue)—
Promoter holding (pre)88.11%
Promoter holding (post)63.64%
- Promoters
- Kapil Garg, Shalini Garg
- Book running lead managers
- Socradamus Capital Pvt. Ltd.
Objects of the Shellz India IPO
- Repayment or prepayment, in full or in part, of certain outstanding borrowings availed by our Company. ~Rs. 22 Cr.
- Funding our incremental working capital requirements. ~ Rs. 23 Cr.
- General Corporate Purposes.
Shellz India IPO Strengths & Risks
Strengths
- Super stockist-led distribution model enabling scalable market reach.
- Ability to develop differentiated products across formats and price points.
- In-house product development capabilities supported by technical expertise.
- Presence in the mass-market segment supported by a diversified product portfolio.
Risks
- The FMCG confectionery market in India is brutally competitive. Shellz India faces intense competition not only from massive organized multinational brands but also from regional and unorganized local players.
- Confectionery products have high price elasticity. Intense pricing pressure across the sector heavily restricts the company's ability to easily pass raw material price hikes onto consumers without risking a drop in sales volume.
- The inability to easily alter product prices means any sudden volatility in raw ingredients (like cocoa, sugar, or dairy products) could directly squeeze profit margins and compress corporate cash flows.
Shellz India Financials
Restated, ₹ crore
FY24
FY25
FY26
Revenue Profit after tax
| Period ended | FY2431 Mar 2024 | FY2531 Mar 2025 | FY2631 Mar 2026 |
|---|---|---|---|
| Revenue | 162.81 | 187.39 | 193.18 |
| Profit after tax | 5.25 | 8.3 | 13.37 |
| Net worth | 26.99 | 40.58 | 58.95 |
| Total assets | 147.04 | 167.36 | 213.72 |
| PAT margin | 3.22% | 4.43% | 6.92% |
Shellz India Key Performance Indicators (KPIs)
P/E (pre issue)11.67x
P/E (post issue)13.24x
EPS₹15.34
ROE26.87%
ROCE19.11%
RoNW22.68%
Debt / Equity1.71
About Shellz India IPO
Shellz India is an SME IPO worth ₹59.97 crore with a price band of ₹170 – 179 per share. The issue opens on 15 October 2026 and closes on 19 October 2026. Shares are expected to list on 23 October 2026 on BSE SME.
Shellz India IPO is a book build issue of Rs. 59.97 Cr (33.58 lac shares) by Shellz India Limited, which is involved in the manufacturing and marketing of confectionery products and the manufacturing and supply of food and bakery ingredients.
Its product portfolio comprises over 300 SKUs across multiple categories, catering to consumers in urban, semi-urban and rural markets. The Company markets its consumer products under two brands, Hugs and Tosca.
The Hugs portfolio includes baked treats, choco delights, jellies, and pan-fried and sugar confectionery, primarily positioned at mass-market price points, with most products priced at ₹10 or below.
The Tosca brand focuses on the mass-premium segment through differentiated product formats and packaging, with an emphasis on e-commerce and quick-commerce channels. Its portfolio also includes Tosca Oat Choco, an oat and cereal-based bar developed as an alternative to traditional confectionery products.
Shellz India IPO: FAQs
What is Shellz India IPO GMP today?
The grey market premium for Shellz India IPO is not available yet. It usually appears a few days before the issue opens; this page updates through the day.
What is the price band of Shellz India IPO?
The Shellz India IPO price band is ₹170 – 179 per share and the issue size is ₹59.97 crore.
What is the lot size and minimum investment for Shellz India IPO?
One lot of Shellz India IPO has 800 shares. The minimum application for retail investors is 2 lots (1,600 shares), which costs ₹2,86,400 at the upper price band.
When does Shellz India IPO open and close?
Shellz India IPO opens for subscription on Thursday, 15 October 2026 and closes on Monday, 19 October 2026. Bids are accepted until 5 PM on the closing day.
What is the Shellz India IPO allotment date?
The basis of allotment for Shellz India IPO is expected on Tuesday, 20 October 2026, one working day after the issue closes (SEBI T+3 timeline).
How to check Shellz India IPO allotment status?
Visit the website of the registrar, Bigshare Services, select Shellz India IPO and search by PAN or application number. You can also check on the IPO allotment status page or on the BSE and NSE websites.
When is Shellz India IPO listing date?
Shellz India shares are expected to list on BSE SME on Friday, 23 October 2026.
Is Shellz India a mainboard or SME IPO?
Shellz India is an SME IPO, listing on the BSE SME platform. Individual investors must apply for at least two lots in SME IPOs.
Last updated 12 Oct 2026, 10:45 PM IST. GMP is unofficial and indicative; dates after the issue closes are tentative. Not investment advice.