Shanti Inorganics Limited IPO Opens, Raising ₹47.23 Cr
Shanti Inorganics Limited, a manufacturer and supplier of sulphur‑based inorganic chemicals, announced that its Initial Public Offering will open on Monday, 31 August 2026. The issue seeks to raise a maximum of ₹47.23 crore by offering equity shares at a price band of ₹79 to ₹83 per share, with a face value of ₹10 each. A total of 5,691,200 equity shares will be issued.
Allocation of shares: Anchor investors will receive 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, and the market maker 284,800 shares. Anchor investor bidding is scheduled for Friday, 28 August 2026. The issue will close on Wednesday, 2 September 2026.
Lead managers and registrar: Vivro Financial Services Private Limited is appointed as the Book Running Lead Manager, while KFin Technologies Limited serves as the Registrar for the issue.
Use of proceeds: The net proceeds are earmarked primarily for part‑funding the capital expenditure of a new manufacturing facility at Bavla, Ahmedabad, Gujarat. The proposed Phase II facility will produce Sodium Meta‑Bisulphite, Sodium Bisulphite and Ammonium Bisulphite and is expected to add 78,544 metric tonnes per annum (MTPA) to the company’s capacity. Remaining proceeds will be utilized for general corporate purposes.
Management commentary: Mr. Avnish Manojkumar Patel, Joint Managing Director of Shanti Inorganics, stated that the IPO marks an important step in the company’s evolution, highlighting its diversified product platform and one of the largest domestic bisulphite capacities of 18,800 MTPA. He noted existing facilities at Vatva and Bavla Phase I, serving over ten end‑use industries and exporting to 15 countries. Mr. Roshan Vaishnav, Director of Vivro Financial Services, emphasized that the IPO will provide a platform to strengthen business operations and support long‑term growth objectives.
Company profile: Shanti Inorganics manufactures Ammonium Bisulphite, Sodium Bisulphite, Sodium Metabisulphite and Sodium Sulphite. It holds ISO 9001:2015, NSF, KOSHER, HACCP and HALAL certifications. Installed capacity stands at 18,800 MTPA at Vatva and 18,000 MTPA at Bavla Phase I, with the proposed Phase II adding 78,544 MTPA.
Financial performance: For FY 26, the company 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, revenue was ₹1,598.27 lakh, EBITDA ₹402.17 lakh and PAT ₹249.96 lakh.
Disclaimer: The article is for informational purposes only and does not constitute financial advice.