Shah Investor's Home IPO
Updated 11 Nov 2026, 6:45 pm.
Minimum investment (Retail)
₹14,195
1 lot · 85 shares at the upper price band
Price band
₹167
Latest GMP
₹17
+10.2% of the ₹167 upper band
Est. listing price
₹184
Issue size
₹90.17 Cr
Listing price
₹171.00
NSE SHAHINVEST, special pre-open price
Listing gain
+2.4%
Listing price against the issue price
First-day close
₹173.79
Since issue
-14.1%
₹143.37 close, 13 Nov 2026
As NSE lists it
The exchange's own issue data, NSE symbol SHAHINVEST · read 14 Nov 2026, 12:15 am
- Price band
- ₹159–167
- Bidding
- 28 Sept 2026 – 30 Sept 2026
- Subscribed (NSE)
- —
- Shares offered
- —
- Listed
- 6 Oct 2026
- Issue price
- ₹167
NSE's subscription counts bids on its own platform and can differ from the combined NSE + BSE figure above.
Allotment status
Check it on the registrar's page or either exchange with your PAN or application number.
- Allotment finalised1 Oct 2026(done)
- Refunds start5 Oct 2026(done)
- Shares credited to demat5 Oct 2026(done)
- Listing6 Oct 2026(done)
GMP history
Each point is a recorded observation from the scheduled data sync.
| Observed | GMP | Est. listing price |
|---|---|---|
| 6 Oct 2026, 1:50 pm | ₹17 | ₹184 |
| 6 Oct 2026, 1:45 pm | ₹17 | ₹184 |
| 6 Oct 2026, 8:50 am | ₹17 | ₹184 |
| 6 Oct 2026, 8:45 am | ₹17 | ₹184 |
| 5 Oct 2026, 6:50 pm | ₹17 | — |
| 5 Oct 2026, 6:45 pm | ₹17 | ₹184 |
| 5 Oct 2026, 1:50 pm | ₹15 | — |
| 5 Oct 2026, 1:45 pm | ₹17 | ₹184 |
| 5 Oct 2026, 11:31 am | ₹17 | ₹184 |
| 5 Oct 2026, 8:50 am | ₹17 | ₹184 |
| 5 Oct 2026, 8:45 am | ₹17 | ₹184 |
| 3 Oct 2026, 10:44 pm | ₹16 | ₹183 |
| 3 Oct 2026, 6:50 pm | ₹16 | — |
| 3 Oct 2026, 1:50 pm | ₹15 | — |
| 3 Oct 2026, 8:50 am | ₹15 | — |
| 2 Oct 2026, 6:50 pm | ₹15 | — |
| 2 Oct 2026, 1:50 pm | ₹15 | — |
| 2 Oct 2026, 8:50 am | ₹12 | ₹179 |
| 2 Oct 2026, 8:45 am | ₹12 | ₹179 |
| 1 Oct 2026, 6:50 pm | ₹14 | ₹182 |
| 1 Oct 2026, 6:45 pm | ₹15 | ₹182 |
| 1 Oct 2026, 1:50 pm | ₹14 | ₹182 |
| 1 Oct 2026, 1:45 pm | ₹15 | ₹182 |
| 1 Oct 2026, 8:50 am | ₹13 | — |
| 30 Sept 2026, 6:50 pm | ₹14 | ₹182 |
| 30 Sept 2026, 6:45 pm | ₹15 | ₹182 |
| 30 Sept 2026, 1:50 pm | ₹15 | ₹182 |
| 30 Sept 2026, 1:45 pm | ₹15 | ₹182 |
| 29 Sept 2026, 6:50 pm | ₹13 | ₹180 |
| 29 Sept 2026, 6:45 pm | ₹13 | ₹180 |
| 29 Sept 2026, 1:50 pm | ₹14 | ₹181 |
| 29 Sept 2026, 1:45 pm | ₹14 | ₹181 |
| 29 Sept 2026, 8:50 am | ₹14 | ₹181 |
| 29 Sept 2026, 8:45 am | ₹14 | ₹181 |
| 28 Sept 2026, 6:50 pm | ₹12 | ₹179 |
| 28 Sept 2026, 6:45 pm | ₹12 | ₹179 |
| 28 Sept 2026, 1:50 pm | ₹11 | ₹177 |
| 28 Sept 2026, 1:45 pm | ₹10 | ₹177 |
| 28 Sept 2026, 8:50 am | ₹10 | ₹177 |
| 28 Sept 2026, 8:45 am | ₹10 | ₹177 |
| 26 Sept 2026, 6:50 pm | ₹11 | ₹179 |
| 26 Sept 2026, 6:45 pm | ₹12 | ₹179 |
| 26 Sept 2026, 1:50 pm | ₹12 | ₹179 |
| 26 Sept 2026, 1:45 pm | ₹12 | ₹179 |
| 26 Sept 2026, 8:50 am | ₹12 | ₹179 |
| 26 Sept 2026, 8:45 am | ₹12 | ₹179 |
| 25 Sept 2026, 6:50 pm | ₹12 | ₹179 |
| 25 Sept 2026, 6:45 pm | ₹12 | ₹179 |
| 25 Sept 2026, 1:51 pm | ₹12 | — |
| 25 Sept 2026, 1:45 pm | ₹12 | ₹179 |
| 25 Sept 2026, 8:50 am | ₹12 | ₹179 |
| 25 Sept 2026, 8:45 am | ₹12 | ₹179 |
| 24 Sept 2026, 6:50 pm | ₹12 | ₹179 |
| 24 Sept 2026, 6:45 pm | ₹12 | ₹179 |
| 24 Sept 2026, 1:50 pm | ₹12 | ₹177 |
| 24 Sept 2026, 1:45 pm | ₹10 | ₹177 |
| 24 Sept 2026, 8:50 am | ₹10 | ₹177 |
| 24 Sept 2026, 8:45 am | ₹10 | ₹177 |
| 23 Sept 2026, 6:50 pm | ₹5 | ₹167 |
| 23 Sept 2026, 6:45 pm | ₹0 | ₹167 |
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- Mainboard
- Price band
- ₹167
- Issue size
- ₹90.17 Cr
- Lot size
- 85
- Opens
- 28 Sept 2026
- Closes
- 30 Sept 2026
- Allotment
- 1 Oct 2026
- Listing
- 6 Oct 2026
- Est. listing price
- ₹184
- Listing price
- ₹171
- Listing gain
- +2.4%
- Registrar
- MUFG Intime India Pvt.Ltd.
- Minimum investment
- ₹14,195 (1 lot · 85 shares)
- Face value
- ₹10 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital only
- Fresh issue
- ₹90 Cr
- Listing at
- BSE, NSE
- Refunds
- 5 Oct 2026
- Shares credited
- 5 Oct 2026
- Promoter holding
- 84.34% before · 62.81% after
- Lead managers
- Beeline Capital Advisors Pvt.Ltd.
Offer documents & links
Subscription by category
As of 30 Sept 2026, 5:54 pm.
Total subscription
38.12x
Full issue details
Details as published for this issue, read 5 Oct 2026, 9:05 am. Verify against the RHP before applying.
IPO Details
| IPO Date | 28 to 30 Sep, 2026 |
|---|---|
| Listing Date | Tue, Oct 6, 2026 (tentative) |
| Face Value | ₹ 10 per share |
| Price Band | ₹159 to ₹167 |
| Issue Price | ₹167 per share |
| Lot Size | 85 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 53,99,200 shares (agg. up to ₹ 90 Cr) |
|---|---|
| Fresh Issue | 53,99,200 shares (agg. up to ₹ 90 Cr) |
| Share Holding Pre Issue | 1,57,54,000 shares |
| Share Holding Post Issue | 2,11,53,200 shares |
IPO Timetable (Tentative)
- IPO Open
- Mon, Sep 28, 2026
- IPO Close
- Wed, Sep 30, 2026
- Allotment
- Thu, Oct 1, 2026
- Refund
- Mon, Oct 5, 2026
- Credit of Shares
- Mon, Oct 5, 2026
- Listing
- Tue, Oct 6, 2026
Issue Reservation
- QIB50.00%
- NII (HNI)15.00%
- Retail35.00%
| Investor Category | Shares | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB | 26,99,600 | 50.00% | NA |
| - Anchor Investor | 16,19,760 | 30.00% | NA |
| - QIB (Ex. Anchor) | 10,79,840 | 20.00% | NA |
| NII (HNI) | 8,09,880 | 15.00% | NA |
| - bNII > ₹10L | 5,39,920 | 10.00% | 423 |
| - sNII < ₹10L | 2,69,960 | 5.00% | 211 |
| Retail | 18,89,720 | 35.00% | 22,232 |
| Total | 53,99,200 | 100.00% | — |
Shah Investor's Home IPO comprises a total issue size of 53,99,200 shares. Out of which, 26,99,600 (50.00%) are allocated to QIB , 8,09,880 (15.00%) allocated to NII 18,89,720 (35.00%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 85 | ₹14,195 |
| Retail (Max) | 14 | 1,190 | ₹1,98,730 |
| S-HNI (Min) | 15 | 1,275 | ₹2,12,925 |
| S-HNI (Max) | 70 | 5,950 | ₹9,93,650 |
| B-HNI (Min) | 71 | 6,035 | ₹10,07,845 |
Investors can bid for a minimum of 85 shares and in multiples thereof.
IPO Anchor Investors
| Bid Date | Fri, Sep 25, 2026 |
|---|---|
| Shares Offered | 16,19,760 |
| Anchor Portion (₹ Cr.) | 27.05 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Oct 31, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Dec 30, 2026 |
Shah Investor's Home IPO raises ₹ 27.05 crore from anchor investors . Shah Investor's Home IPO Anchor bid date is September 25, 2026 .
📝 Anchor Investors Letter (PDF)
About Shah Investor's Home Ltd.
Incorporated in October 1994, Shah Investor's Home Limited is a retail broking company providing a range of financial services, with over three decades of experience in the securities market. The Company primarily offers equity and derivatives brokerage services, facilitating the buying and selling of equities, IPOs and other securities for retail customers, including resident and non-resident Indians. In addition to its core brokerage operations, the Company provides mutual fund distribution, margin funding, and stock lending and borrowing (SLB) services under the brand name "Shah Investors". As of March 31, 2026, the Company had served over 1,00,000 demat accounts, with more than 38,000 active clients and a network of over 181 authorised persons.
The Company operates through 11 branches across Mumbai, Ahmedabad, Vadodara, Junagadh, Gandhinagar and Rajkot, with its branch and authorised-person network primarily serving customers across Gujarat and Maharashtra. The Company started its operations as a Trading Member of the National Stock Exchange of India Limited in 1995 and registered as a Depository Participant with NSDL in 1997.
The Company has progressively adopted technology across its operations. It implemented a VMWare-based virtualised environment in 2007, launched its digital app-based platform "SIHL Moneymaker" in 2023, and had over 12,452 active registered users as of March 31, 2026. It also operates an in-house ERP system across its branches and franchises. In Fiscal 2026, the Company launched "ALGOFY", an API-powered algorithmic trading platform that enables strategy development, testing, deployment, automation and management through APIs, pre-built strategies and a no-code interface.The Company is supported by an experienced management team and focuses on building long-term client relationships while expanding its retail and HNI customer base.
As of July 31, 2026, the Company had 167 permanent employees across accounts, compliance, demat, helpdesk, research, IT, MTF & SLB, sales, trading and other functions.
Competitive Strengths
Sizeable retail clientele across Gujarat.
Established branch and authorised-person network.
Digital platforms including SIHL Moneymaker and ALGOFY.
Technology-enabled trading and client-service infrastructure.
Integrated brokerage model with long-term client relationships.
Long-standing experience in retail broking and financial services.
Company Financials (Restated Consolidated)
Total Income
Profit After Tax
EBITDA
NET Worth
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 304.44 | 302.57 | 298.76 |
| Total Income | 72.40 | 94.47 | 79.05 |
| Profit After Tax | 13.11 | 23.42 | 18.05 |
| EBITDA | 21.62 | 35.31 | 25.13 |
| NET Worth | 179.71 | 168.09 | 150.54 |
| Reserves and Surplus | 163.95 | 152.34 | 134.79 |
| Total Borrowing | 18.47 | 5.71 | 3.54 |
| Amount in ₹ Crore |
Shah Investor's Home Ltd.;'s revenue decreased by 23% and profit after tax (PAT) dropped by 44% between the financial year ending with March 31, 2026 and March 31, 2025.
Recently Listed IPOs in Stockbroking & Allied
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Billionbrains Garage Ventures Ltd. | Mainboard | ₹6,632.30 Cr | ₹100 | 33.26 | ₹131.33 | +31.33% | ₹180.11 |
IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding working capital requirements of the Company | 60.00 |
| 2 | General Corporate Purposes | 18.56 |
| 3 | Issue Expenses | 11.61 |
| Total | 90.17 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 7.59% |
| ROCE | 10.61% |
| Debt/Equity | 0.10 |
| RoNW | 7.35% |
| PAT Margin | 18.24% |
| EBITDA Margin | 30.24% |
| NAV | 114.07 |
| P/B (x) | 1.46 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 8.32 | 6.20 |
| P/E (x) | 20.07 | 26.94 |
| Market Cap at Offer Price | ₹263.09 Cr. | ₹353.26 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.
Shareholding Structure
Pre IPO
- Promoter and Promoter Group84.34%
- Public15.66%
Post IPO
- Promoter and Promoter Group62.81%
- Public37.19%
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 84.34% | 62.81% |
| Public | 15.66% | 37.19% |
| Total | 100% | 100% |
Company Promoters: Upendra Trikamlal Shah, Purnima Upendra Shah, Tanmay Upendra Shah and Trupti Utpal Shah.
Shah Investor's Home IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 2 |
| Members | 0 | 0 | 0 | 0 |
IPO Subscription Status
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 28.05 | 10,79,840 | 3,02,89,750 |
| NII | 95.54 | 8,09,880 | 7,73,75,415 |
| bNII (> ₹10L) | 105.15 | 5,39,920 | 5,67,72,435 |
| sNII (< ₹10L) | 76.32 | 2,69,960 | 2,06,02,980 |
| Retail | 19.26 | 18,89,720 | 3,63,94,705 |
| Total | 38.12 | 37,79,440 | 14,40,59,870 |
The Shah Investor's Home IPO is subscribed 38.12 times on September 30, 2026 5:54:18 PM (Day 3). The public issue subscribed 19.26 times in the retail category, 28.05 times in the QIB category, and 95.54 times in the NII category. Check Day by Day Subscription Details (Live Status)
Reload
Total Applications: 4,19,543
IPO Expenses
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager’s fees and commissions (including brokerage and selling commission | 6.18 |
| 2 | Underwriting commission | 1.13 |
| 3 | Commission/processing fee for SCSBs, Sponsor Bank(s) and Bankers to the Issue. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 0.29 |
| 4 | Fees payable to the Registrar to the Issue | 0.04 |
| 5 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 0.96 |
| 6 | Printing and distribution of stationery | 0.10 |
| 7 | Advertising and marketing expenses | 1.15 |
| 8 | Fees payable to legal counsel | 1.50 |
| 9 | Fees payable to the auditors and Independent Chartered Accountant | 0.16 |
| 10 | Fees payable to other advisors to the Issue, including but not limited to professional service provider, industry service provider and Monitoring Agency | 0.10 |
| Total | 11.61 |
IPO Registrar
MUFG Intime India Pvt.Ltd.
022-49186000
shahInvestors.ipo@in.mpms.mufg.com
IPO Lead Manager(s)
Beeline Capital Advisors Pvt.Ltd.
Contact Details
Shah Investor's Home Ltd. Address
810, X-Change Plaza
DSCCSL (53E), Road 5E
Block 53, Zone 5, Gift City
Gandhinagar, Gujarat , 382050
+91 9904053335
company.secretary@sihl.in
Shah Investor's Home IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Shah Investor's Home - IPO bonanza: 29 companies to list this week; GMPs signal returns of up to 59%
The Economic Times · 4 Oct 2026
IPO Buzz: Orient Cables To Shah Investor's — Six Mainboard Listings Next Week, One SME Issue To Open
NDTV Profit · 4 Oct 2026
Shah Investor's Home IPO Allotment Today: Issue subscribed 38.12x; check status on NSE, BSE and MUFG Intime
Zee Business · 1 Oct 2026
Shah Investor's Home IPO allotment today; check status on BSE, NSE and registrar
Moneycontrol.com · 1 Oct 2026
Shah Investor's Home IPO allotment status: Complete guide to check application, fresh GMP & listing
Business Today · 1 Oct 2026
Shah Investor's Home IPO allotment: How to check status online on NSE, BSE, MUFG Intime India; listing date, time here
upstox.com · 1 Oct 2026
Shah Investor's Home IPO Allotment Status Today: Check Share Allotment On BSE, NSE, MUFG Intime India
NDTV Profit · 1 Oct 2026
Shah Investor’s Home IPO allotment today; Check status, latest GMP and likely listing price
The Economic Times · 1 Oct 2026
Shah Investor's Home: common questions
Answered from this issue's own record.