IPO Launch and Offering Details

Shanti Inorganics Limited announced that its Initial Public Offering will open on Monday, 31 August 2026 and close on Wednesday, 2 September 2026. The issue consists of 5,691,200 equity shares, each with a face value of ₹10, priced within a band of ₹79 to ₹83 per share. At the upper price band, the IPO is expected to raise ₹47.23 crore. Allocation of the shares is as follows: Anchor Investors – 1,620,800 shares; Net Qualified Institutional Buyers (QIBs) – 1,080,000 shares; Non‑Institutional Investors (NIIs) – 811,200 shares; Individual Investors – 1,894,400 shares; Market Maker – 284,800 shares. The anchor investor bidding is scheduled for Friday, 28 August 2026. Vivro Financial Services Private Limited is the Book Running Lead Manager, and KFin Technologies Limited serves as the Registrar. The equity shares will be listed on the NSE Emerge platform.

Use of Proceeds

The net proceeds are earmarked primarily for capital expenditure to establish a new manufacturing facility at Bavla, Ahmedabad, Gujarat. The proposed plant will produce Sodium Meta Bisulphite, Sodium Bisulphite and Ammonium Bisulphite. Remaining funds will be allocated to general corporate purposes.

Management Commentary

Mr. Avnish Manojkumar Patel, Joint Managing Director of Shanti Inorganics Limited, stated that the IPO marks a pivotal step in the company’s evolution, highlighting a diversified sulphur‑based inorganic chemicals platform with products such as Ammonium Bisulphite, Sodium Bisulphite, Sodium Metabisulphite and Sodium Sulphite. He noted that the company holds one of the largest domestic production capacities for bisulphites at 18,800 metric tonnes per annum (MTPA) and operates existing facilities at Vatva and Bavla Phase I in Ahmedabad, serving over ten end‑use industries and exporting to 15 countries. Mr. Roshan Vaishnav, Director of Vivro Financial Services Private Limited, echoed that the IPO will provide a platform to strengthen business operations and support long‑term growth objectives.

Company Profile and Capacity Expansion

Shanti Inorganics Limited manufactures and supplies sulphur‑based inorganic chemicals. Its product portfolio serves more than ten application industries, including food & beverages, chemicals, oil drilling, pharmaceuticals, ceramics, agro‑chemicals, water treatment, petrochemicals, cosmetics, paints, polymers, boilers and mining. The company holds ISO 9001:2015, NSF, KOSHER, HACCP and HALAL certifications. Current installed capacity stands at 18,800 MTPA at Vatva and 18,000 MTPA at Bavla Phase I, with a proposed additional capacity of 78,544 MTPA under Phase II at Bavla.

Financial Highlights

For the fiscal year 2026, Shanti Inorganics reported revenue of ₹7,122.02 lakh, EBITDA of ₹1,539.72 lakh and profit after tax (PAT) of ₹1,022.00 lakh. For the two‑month period ended 31 May 2026, the company posted revenue of ₹1,598.27 lakh, EBITDA of ₹402.17 lakh and PAT of ₹249.96 lakh.

Closing Remarks

The IPO proceeds are intended to fund the Phase II expansion at Bavla, enhancing operational capacity and supporting the company’s growth trajectory across domestic and international markets.