Shanti Inorganics Limited
Open now31 Aug – 2 Sep 2026
Updated 2026-08-31 (IST)
What Shanti Inorganics Limited does
We are engaged in the business of manufacturing and supply of sulphur based inorganic chemicals. Our product portfolio consists of ammonium bisulphite solution, sodium bisulphite powder or solution, sodium meta bisulphite and sodium sulphite powder/anhydrous, which are primarily used as preservatives, reducing agents, oxygen scavengers and process intermediates across multiple industries.
Shanti Inorganics Limited financials
Rs crore · AnnualLatest year highlighted in green. Sparklines show the trend.
| FY24 | FY25 | FY26 | 2M ended May 31, 2026 | ||
|---|---|---|---|---|---|
| Sales | 45 | 57 | 71 | 16 | |
| Operating Profit | 9 | 12 | 15 | 4 | |
| OPM % | 19.4% | 21.1% | 21.6% | 25.2% | |
| Net Profit | 5 | 8 | 10 | 2 | |
| Total Debt | 24 | 25 | 31 | 35 |
Shanti Inorganics Limited IPO offer structure
Fresh issue: ₹47 cr
The offer-for-sale component is not stated in what we extracted from the offer document, so the full issue size and the split between the two are unknown. This figure is the fresh issue alone, not the total raise. Fresh issue proceeds go to the company; OFS proceeds go to selling shareholders.
Issue size and split come from a public aggregator rather than the exchange, cross-checked against a second one. The offer document states the offer-for-sale as a share count against a blank amount, so it cannot be read from the document itself.
Use of proceeds- Part funding the capital expenditure towards setting up a new facility for manufacturing of sodium meta bisulphite, sodium bisulphite powder and ammonium bisulphite situated at Bavla, Ahmedabad, Gujarat: ₹43 cr
- General Corporate Purposes
Shanti Inorganics Limited promoters and holding
- Manojkumar Jayantilal Patel: Chairman and Managing Director
- Avnish Manojkumar Patel: Joint Managing Director
Shanti Inorganics Limited strengths and risks
Company-stated strengths and disclosed risk factors from the offer document.
- Geographical diversification through exports to international market. (p.179)
- Long standing relationships with diversified customers across multiple industries. (p.180)
- Strategically located production facilities with access to abundant resources of raw materials and long-term relationships with suppliers. (p.181)
- Certifications and compliance with quality and food safety standards. (p.181)
- Experienced Promoters and Senior Management with extensive domain knowledge. (p.181)
- We derive a substantial portion of our revenue from the food and beverages, oil drilling and chemical industries. (p.26)
- Our Company derives revenue from diversified customers, and any loss of major customers could adversely affect us. (p.26)
- We do not maintain long-term contractual arrangements with the majority of our customers. (p.26)
- Certain entities forming part of our Group Companies are in the same line of business as ours with no non-compete agreements. (p.26)
- We operate in a competitive industry, and increasing competition may adversely affect our business. (p.26)
Shanti Inorganics Limited market and competition
We hold one of the largest domestic production capacities for bisulphites with capacity of 18,800 MTPA.
Shanti Inorganics Limited outlook, as the document states it
Our Company intends to set up a new facility at Plot No. 6 and 7, Sankalp Industrial Estate, Chiyada, Bavla on adjacent land already acquired with an installed capacity of 78,544 MTPA to manufacture sodium meta bisulphite, sodium bisulphite powder/solution and ammonium bisulphite. The Proposed Project will cater to growing domestic and export demand and enable us to manufacture higher-grade products with enhanced quality and efficiency.
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Shanti Inorganics Limited IPO: common questions
When does the Shanti Inorganics Limited IPO open and close?
The Shanti Inorganics Limited IPO is open from 31 Aug 2026 to 2 Sep 2026.
What is the Shanti Inorganics Limited IPO price band?
The price band is ₹79–₹83 per share.
What is the lot size and minimum investment for the Shanti Inorganics Limited IPO?
One lot is 1600 shares, and a retail application must be at least one lot. That is about ₹2,65,600 at the upper end of the band. An HNI application starts above Rs 2 lakh, so the minimum is higher for that category.
What is the grey-market premium (GMP) for the Shanti Inorganics Limited IPO?
As of 31 Aug 2026 the indicative GMP is +12.0%. GMP is unregulated and self-reported. Never decide on it alone.
When are the Shanti Inorganics Limited IPO allotment and listing dates?
Not published yet. Derived from the close date on the usual timetable: allotment around 3 Sep 2026, refund/unblock around 4 Sep 2026 and listing around 7 Sep 2026. Treat these as estimates until the exchange confirms them.
How do I apply for the Shanti Inorganics Limited IPO?
Through any broker app or your bank's net banking, using a demat account and a PAN. You bid in lots at a price inside the band, or at cut-off. The money is blocked in your account, not debited, until allotment. One application per PAN. We do not recommend brokers and carry no broker links. How to apply, start to finish →
Sources & method
Subscription and issue data come from the NSE and BSE exchange feeds, with the third-party aggregator, clearly labelled, where an exchange feed is unreachable. DRHP analysis is extracted from the offer document itself, every figure cited to its page. Each figure on the page carries its source and its timestamp.
Grey-market premium (GMP) is unregulated.
Every GMP figure is a self-reported grey-market estimate. No exchange, regulator or clearing body records or audits it, and there is no settlement guarantee or recourse. Shown for context only; never decide on GMP alone. New to GMP? The 30-second explainer → Has GMP actually been right? →
How often do these actually open above the issue price?
Of the 701 SME IPOs that have listed on the NSE since 2016, 557 (79%) opened above their issue price, at a median of +11%. That is the segment's own record, not a forecast for this issue.