Shellz India IPO
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Shellz India IPO details
Schedule of Shellz India
| Issue open date | 15 Oct 2026 |
| Issue close date | 19 Oct 2026 |
| UPI mandate deadline | 19 Oct 2026 (5 PM) |
| Allotment finalization | 21 Oct 2026 |
| Refund initiation | 22 Oct 2026 |
| Share credit | 22 Oct 2026 |
| Listing date | 23 Oct 2026 |
| Mandate end date | 03 Nov 2026 |
| Lock-in end date for anchor investors (50%) | 19 Nov 2026 |
| Lock-in end date for anchor investors (remaining) | 18 Jan 2027 |
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 Shellz India
Shellz India is a manufacturer of confectionery products operating primarily in the mass-market segment with price points below ₹10. The company caters to price-sensitive consumers across Tier II and Tier III cities, maintaining a significant geographic focus on the North Indian market, which contributes the majority of its sales. Its core product portfolio comprises baked treats, choco delights, jellies, panned and sugar candies, alongside food and bakery ingredients. The business generates revenue mainly through the sale of these products under its primary brands, Hugs and Tosca. To reach consumers, the company relies on a distribution network of super stockists who supply local distributors, wholesalers, and retail outlets. Shellz India conducts manufacturing operations from its Delhi facility, while working to consolidate production capacity at a new facility in Sonipat, Haryana. Furthermore, it has undertaken backward integration by producing packaging materials in-house for captive consumption.
Financials of Shellz India
Issue size
| Funds Raised in the IPO | Amount (₹ crores) |
| Total issue size | 59.97 |
| Fresh Issue – Proceeds go to the company | 59.97 |
Utilisation of Proceeds
| Purpose | INR crores (%) |
|---|---|
| Repayment or prepayment of certain outstanding borrowings | 22 (36.68%) |
| Funding incremental working capital requirements | 23 (38.35%) |
| General Corporate Purposes | 14.97 (24.97%) |
Strengths
- Diverse confectionery product portfolio.
- Extensive North Indian distribution network.
- Efficient in-house packaging capabilities.
- Strong mass-market segment presence.
- Significant capacity with expansion plans.
Risks
- Heavy reliance on North Indian markets.
- Intense mass-market pricing competition.
- Vulnerability to raw material cost volatility.
- Lack of long-term customer/supplier contracts.
- Regulatory compliance and licensing risks.