Shanti Inorganics IPO
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Shanti Inorganics IPO details
Schedule of Shanti Inorganics
| Issue open date | 31 Aug 2026 |
| Issue close date | 02 Sep 2026 |
| UPI mandate deadline | 02 Sep 2026 (5 PM) |
| Allotment finalization | 03 Sep 2026 |
| Refund initiation | 04 Sep 2026 |
| Share credit | 04 Sep 2026 |
| Listing date | 07 Sep 2026 |
| Mandate end date | 17 Sep 2026 |
| Lock-in end date for anchor investors (50%) | 02 Oct 2026 |
| Lock-in end date for anchor investors (remaining) | 01 Dec 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Shanti Inorganics
Shanti Inorganics is engaged in the manufacturing and supply of sulphur-based inorganic chemicals. The company’s core business involves producing a range of products, including ammonium bisulphite, sodium bisulphite, sodium meta bisulphite, and sodium sulphite. These chemicals serve as preservatives, reducing agents, and oxygen scavengers, generating revenue through their sale to diverse industries. Key sectors that use its products include food and beverages, chemicals, oil drilling, pharmaceuticals, water treatment, and agrochemicals. The company offers products in multiple purity levels, such as food grade and technical grade, to meet the specific application needs of its customers. Its business is focused on serving as a key supplier for various industrial processing and manufacturing applications.
Financials of Shanti Inorganics
Issue size
| Funds Raised in the IPO | Amount (₹ crores) |
| Total issue size | 47.24 |
| Fresh Issue – Proceeds go to the company | 47.24 |
Utilisation of Proceeds
| Purpose | INR crores (%) |
|---|---|
| Funding capital expenditure for expansion and modification | 25 (52.92%) |
| To meet working capital requirements | 12 (25.4%) |
| General corporate purposes | 10.24 (21.68%) |
Strengths
- One of the largest domestic producers of bisulphites.
- Diverse product portfolio with applications across multiple industries.
- Long-standing relationships with a broad customer base.
- Strategically located manufacturing units in Gujarat.
- Experienced promoters and a professional management team.
Risks
- Heavy dependence on the sale of Sodium Bisulphite.
- Lack of long-term agreements with suppliers for raw materials.
- Business is subject to strict and evolving environmental regulations.
- Operates in a competitive and fragmented industry.
- Inability to manage working capital requirements effectively could harm the business.
Subscription Figures for Shanti Inorganics
Grey Market Premium (GMP) is an unofficial and unregulated metric that may not accurately reflect investor interest. Instead, investors should refer to the IPO subscription data published by the stock exchanges, which is a more reliable indicator of demand.
Subscription numbers as of 05:00 PM on September 01, 2026:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 10.82 | 17.58 | 1.63x |
| NII | 5.26 | 20.64 | 3.92x |
| Retail | 18.94 | 97.66 | 5.16x |
| Total | 35.02 | 135.88 | 3.88x |