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    Shah Investor's Home ; IPO

    Updated 23 Sept 2026, 1:50 pm.

    Open Demat Account
    GMP disclaimer: GMP is unofficial and unregulated. It is not a recommendation or a reliable estimate of listing price or returns. Consider the RHP and your own risk assessment before applying.

    Minimum investment (Retail)

    ₹14,195

    1 lot · 85 shares at the upper price band

    Price band

    ₹159–167

    Latest GMP

    Not yet quoted

    Est. listing price

    Issue size

    ₹90.17 Cr

    GMP history

    Each point is a recorded observation from the scheduled data sync.

    GMP history will appear after the scheduled sync records observations.

    GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.

    Issue details

    Board
    Mainboard
    Price band
    ₹159–167
    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
    Listing price
    Awaited
    Listing gain
    Awaited
    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.

    Full issue details

    Details as published for this issue, read 23 Sept 2026, 2:05 pm. Verify against the RHP before applying.

    IPO Details

    IPO Date28 to 30 Sep, 2026
    Listing DateTue, Oct 6, 2026 T
    Face Value₹ 10 per share
    Price Band₹159 to ₹167
    Lot Size85 Shares
    Sale TypeFresh capital only
    Issue TypeBookbuilding IPO
    Listing AtBSE, NSE
    Total Issue Size53,99,200 shares (agg. up to ₹ 90 Cr)
    Fresh Issue53,99,200 shares (agg. up to ₹ 90 Cr)
    Share Holding Pre Issue1,57,54,000 shares
    Share Holding Post Issue2,11,53,200 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

    Investor CategoryShares
    QIBNot more than 50% of the Net Issue
    RetailNot less than 35% of the Net Issue
    NIINot less than 15% of the Net Issue

    IPO Lot Size

    Retail (Min)₹14,195
    Retail (Max)₹1,98,730
    S-HNI (Min)₹2,12,925
    S-HNI (Max)₹9,93,650
    B-HNI (Min)₹10,07,845
    IPO Lot Size: What an application costs at the upper price band, by category. Figures as published in the table below.
    ApplicationLotsSharesAmount
    Retail (Min)185₹14,195
    Retail (Max)141190₹1,98,730
    S-HNI (Min)151275₹2,12,925
    S-HNI (Max)705950₹9,93,650
    B-HNI (Min)716035₹10,07,845

    Investors can bid for a minimum of 85 shares and in multiples thereof.

    IPO Subscription Details

    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

    31 Mar 202479.05
    31 Mar 202594.47
    31 Mar 202672.40

    Profit After Tax

    31 Mar 202418.05
    31 Mar 202523.42
    31 Mar 202613.11

    EBITDA

    31 Mar 202425.13
    31 Mar 202535.31
    31 Mar 202621.62

    NET Worth

    31 Mar 2024150.54
    31 Mar 2025168.09
    31 Mar 2026179.71
    Company Financials (Restated Consolidated): Each line is scaled to its own largest period, ₹ crore - compare periods within a line, not one line against another. Figures as published in the table below.
    Period Ended31 Mar 202631 Mar 202531 Mar 2024
    Assets304.44302.57298.76
    Total Income72.4094.4779.05
    Profit After Tax13.1123.4218.05
    EBITDA21.6235.3125.13
    NET Worth179.71168.09150.54
    Reserves and Surplus163.95152.34134.79
    Total Borrowing18.475.713.54
    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.

    IPO Objects of the Issue

    #Issue ObjectsEst Amt (₹ Cr.)
    1Funding working capital requirements of the Company60.00
    2General Corporate Purposes
    Total60.00

    The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

    Key Performance Indicator (KPI)

    KPIMar 31, 2026
    ROE7.59%
    ROCE10.61%
    Debt/Equity0.10
    RoNW7.35%
    PAT Margin18.24%
    EBITDA Margin30.24%
    NAV114.07
    Price to Book Value1.46

    Check IPO Peer Comparison here.

    IPO Valuation

    Valuation MetricPre IPOPost IPO
    EPS (₹)8.326.20
    P/E (x)20.0726.94
    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%
    Shareholding Structure: Who holds the company before and after the issue. Figures as published in the table below.
    CategoryPre IPOPost IPO
    Promoter and Promoter Group84.34%62.81%
    Public15.66%37.19%
    Total100%100%

    Company Promoters: Upendra Trikamlal Shah, Purnima Upendra Shah, Tanmay Upendra Shah and Trupti Utpal Shah.

    Shah Investor's Home IPO Recommendations

    Review BySubscribeMay ApplyNeutralAvoid
    Brokers0000
    Members0000

    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

    FAQ

    Shah Investor's Home ;: common questions

    Answered from this issue's own record.

    The Shah Investor's Home ; Mainboard IPO is priced at ₹159 to ₹167 per share, for an issue size of ₹90.17 crore.

    The issue opens on 28 Sept 2026 and closes on 30 Sept 2026, with listing expected on 6 Oct 2026.

    One lot is 85 shares, and applications must be in multiples of a lot. At the upper band that is ₹14,195 for one lot.