Shivchem Agro IPO
Upcoming28–30 Sep 2026
What stands out in the offer document
The five questions
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1How it makes money₹44 of every ₹100 of sales comes from its "Herbicide" segment. ₹55 of every ₹100 comes from Andhra Pradesh and Assam.
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2Is it growing, and is profit turning into cash?Sales grew 3.1x from 2023-24 to 2025-26 (₹10.9 cr → ₹33.8 cr).
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3How much cushion does it have?We haven't read this part of the document yet.
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4What you pay, and who gets the moneyAll the money raised goes to the company. At ₹62 you pay about ₹10 for every ₹1 of last year's profit.
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5Who controls it, and what is on record?Promoters own 90% now and 63% after the IPO. The document discloses 1 legal matter.
Latest update:
Price band ₹59–₹62 · Closes 30 Sep 2026 · Allotment 1 Oct 2026 (Confirmed) · Lists 6 Oct 2026 (Expected)
What Shivchem Agro does
We are ISO 9001:2015, ISO 22000:2018 and ISO 31000:2018 certified agrochemical company operating in India, engaged in the manufacturing, stocking, exhibiting, distribution, and sale of agricultural formulations. Our product portfolio includes insecticides, fungicides, herbicides, plant growth regulators, rodenticides, and fertilizers.
Shivchem Agro financials
Rs crore · AnnualLatest year highlighted in green. Sparklines show the trend.
| 2023-24 | 2024-25 | 2025-26 | ||
|---|---|---|---|---|
| Sales | 11 | 27 | 34 | |
| Operating Profit | — | — | — | |
| OPM % | — | — | — | |
| Net Profit | — | — | — | |
| Total Debt | 7 | 8 | 7 |
Shivchem Agro IPO offer structure
Fresh issue: ₹14 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- Working capital: ₹7 cr
- Debt Repayment: ₹4 cr
Shivchem Agro promoters and holding
- Rohit Agarwal
- Sachin Agarwal
- Deepa Agarwal
Shivchem Agro strengths and risks
Company-stated strengths and disclosed risk factors from the offer document.
- Diversified product portfolio including a wide range of insecticides, fungicides, herbicides, plant growth regulators, rodenticides, and fertilizers (p.204)
- A large and diverse Distributors and Distribution Network (p.204)
- We require various statutory and regulatory approvals, including licenses under the Insecticides Act, 1968 and the Fertilizer Control Order, 1985 for our products. (p.40)
- We are subject to stringent technical specifications and quality requirements in relation to our products. (p.40)
- Our products may become obsolete or ineffective, which could adversely affect our revenues, profitability, overall business prospects and results of operations. (p.41)
- Our cost of materials consumed constituted a majority of the total expenses incurred in financial year ended March 31, 2026, 2025 and 2024. (p.41)
- Our Company has paid capital advances to our Promoters for proposed property acquisitions. (p.42)
Shivchem Agro market and competition
We operate in a highly competitive industry and face competition in the agro-chemical manufacturing market from domestic as well as from overseas players.
Shivchem Agro outlook, as the document states it
We aim to diversify our existing product portfolio by introducing new agrochemical products that align and complement our current offerings. We aim to expand our presence across India by entering new markets and further diversifying our operations.
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Shivchem Agro IPO: common questions
When does the Shivchem Agro IPO open and close?
The Shivchem Agro IPO is open from 28 Sep 2026 to 30 Sep 2026.
What is the Shivchem Agro IPO price band?
The price band is ₹59–₹62 per share.
What is the lot size and minimum investment for the Shivchem Agro IPO?
One lot is 2000 shares, and a retail application must be at least one lot. That is about ₹2,48,000 at the upper end of the band. An HNI application starts above Rs 2 lakh, so the minimum is higher for that category.
When are the Shivchem Agro IPO allotment and listing dates?
Not published yet. Derived from the close date on the usual timetable: allotment around 1 Oct 2026, refund/unblock around 2 Oct 2026 and listing around 6 Oct 2026. Treat these as estimates until the exchange confirms them.
How do I apply for the Shivchem Agro 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. Bidding opens 28 Sep 2026. 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 712 SME IPOs that have listed on the NSE since 2016, 564 (79%) opened above their issue price, at a median of +11%. That is the segment's own record, not a forecast for this issue.