Shellz India IPO Details
Shellz India IPO Summary
Shellz India IPO opens for subscription on 15 Oct 2026 and closes on 19 Oct 2026.The IPO will be listed on BSE with the tentative listing date set for 23 Oct 2026.
Shellz India IPO price band has been fixed at ₹170 – ₹179 per share. The face value is ₹10 per share with a lot size of 800.
Shellz India IPO total issue size comprises 33,50,400 shares (aggregating up to ₹59.97 Cr). This includes a fresh issue of 33,50,400 shares (aggregating up to ₹59.97 Cr). Pre-issue shareholding stands at 87,16,704, which will increase to 1,20,67,104 post-issue.
Shellz India IPO carries a ₹0 (0%) GMP, reflecting investor sentiment.
Shellz India IPO Lot Size :Individual Minimum is 2 lots (1,600 shares) amounting to ₹2,86,400. Individual Maximum is 2 lots (1,600 shares) amounting to ₹2,86,400. SHNI Minimum is 3 lots (2,400 shares) amounting to ₹4,29,600. SHNI Maximum is 6 lots (4,800 shares) amounting to ₹8,59,200. BHNI Minimum is 7 lots (5,600 shares) amounting to ₹10,02,400.
Shellz India IPO Details
Shellz India IPO Subscription
Shellz India IPO Application Wise Breakup
Shellz India IPO Dates
- 15 Oct 2026Opening dateOpen
- 19 Oct 2026Closing dateClose
- 21 Oct 2026Allotment Date Allotment
- 22 Oct 2026Initiation of RefundsRefund
- 22 Oct 2026Credit of SharesCredit
- 23 Oct 2026Listing dateListing
Shellz India IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual Minimum | 2 | 1600 | ₹2,86,400 |
| Individual Maximum | 2 | 1600 | ₹2,86,400 |
| SHNI Minimum | 3 | 2400 | ₹4,29,600 |
| SHNI Maximum | 6 | 4800 | ₹8,59,200 |
| BHNI Minimum | 7 | 5600 | ₹10,02,400 |
Shellz India IPO Reservation
Promoter Holding
Documents
Shellz India IPO Valuations
Shellz India Financial Information
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 229.36 | 213.72 | 167.36 | 147.04 |
| Total Income | 47.43 | 193.18 | 187.39 | 162.81 |
| Profit After Tax | 4.08 | 13.37 | 8.30 | 5.25 |
| EBITDA | 8.52 | 30.15 | 22.79 | 18.94 |
| NET Worth | 63.03 | 58.95 | 40.58 | 26.99 |
| Reserves and Surplus | 54.31 | 50.24 | 39.89 | 26.35 |
| Total Borrowing | 108.56 | 100.83 | 78.18 | 70.93 |
| Amount in ₹ Crore | ||||
About Shellz India IPO
Incorporated in May 2012, Shellz India Limited is engaged in the manufacturing and marketing of confectionery products and the manufacturing and supply of food and bakery ingredients. Its product portfolio comprises over 300 SKUs across multiple categories, catering to consumers in urban, semi-urban and rural markets.The Company markets its consumer products under two brands, Hugs and Tosca. The Hugs portfolio includes baked treats, choco delights, jellies, and panned and sugar confectionery, primarily positioned at mass-market price points, with most products priced at ₹10 or below. The Tosca brand focuses on the mass-premium segment through differentiated product formats and packaging, with an emphasis on e-commerce and quick-commerce channels. Its portfolio also includes Tosca Oat Choco, an oat and cereal-based bar developed as an alternative to traditional confectionery products.
The Company's distribution network comprises over 300 super stockists, with products available through kirana outlets across approximately 24 states in India, as of March 31, 2026. In addition to its own brands, the Company undertakes private-label manufacturing for third-party customers and exports products to international markets, including the Middle East, South Asia and Europe. Its operations are supported by in-house manufacturing, product development, research and development, and quality assurance capabilities.
As of August 31, 2026, the Company had 258 full-time employees, including personnel across production, sales, finance, engineering, research and development, quality assurance and other functions.
Strength Of Shellz India IPO
- Ability to develop differentiated products across formats and price points.
- Our presence at mass-market price-points supported by a diversified product portfolio.
- Super stockist-led distribution model enabling scalable market reach.
- Integrated in-house manufacturing capabilities with focus on scalability and process control.
- In-house product development capabilities supported by technical expertise.
- Experienced Promoters and Management Team.
Risk Of Shellz India IPO
- The company's inability to anticipate, respond to and meet the tastes, preferences or consistent quality requirements of its consumers or the company's inability to accurately predict and successfully adapt to changes in market demand or consumer preference could reduce demand for its products, affect our brand loyalty and impact the company's sales.
- The company has incurred significant indebtedness which exposes the company to various risks which may have an adverse effect on the company's business, results of operations and financial conditions. Conditions and restrictions imposed on the company by the agreements governing its indebtedness could adversely affect the company's ability to operate the company's business. Further, there have been certain instances of delay in repayment of borrowings which have been reported in its credit history records, including in reports issued by credit information companies.
- There are outstanding legal proceedings involving the Company, Subsidiaries, Group Companies, Promoters, Directors, Key Managerial Personnel and Senior Managerial Personnel. Any adverse decision in such proceedings may have a material adverse effect on the company's business, results of operations and financial condition.
- The company has been in past subject to legal proceedings under Insolvency and Bankruptcy Code, 2016 and Section 138 of the Negotiable Instruments Act, 1881. Any such legal proceedings against the Company would lead to an adverse impact on the results of operations, cash flows and financial condition.
- The company has been involved in disputes and litigation with certain vendors and suppliers in the past and may continue to faces such disputes in the future. Further, the company does not have long-term agreements with most of its suppliers for the supply of raw materials. Any disruption in procurement of raw materials or deterioration of supplier relationships could adversely affect the company's business, financial condition and results of operations.
- The company does not have long-term agreements with majority of its customers. Any changes or cancellations to the company's orders or the company's inability to forecast demand for its products may adversely affect its business, results of operations and financial condition.
- During the period ended September 30, 2025, Fiscals 2025, 2024 and 2023, the company derived 74.69%, 72.66%, 71.47% and 68.18% of the company's revenue from operations from its customers in North India, which exposes the company to risks specific to these Indian geographies and market.
- The company's inability to manage its inventory and foresee accurate demand for the company's products for a future period may adversely affect its reputation, business, results of operation and the company's financial performance.
- The company's relationship with its super stockists is critical to the company's business. During the period ended September 30, 2025, Fiscals 2025, 2024 and 2023, 97.44%, 96.32%, 94.39% and 94.70% respectively, of its total revenue from operations was attributable to the company's super stockists. If the company is unable to maintain successful relationships with its super stockists, the company's business, results of operations and financial condition may be adversely affected.
- The company's business prospects on the strength and market acceptance of its brands, and any inability to sustain or increase product sales could negatively impact the company's business performance.
Objectives Shellz India IPO
1. Repayment or prepayment, in full or in part, of certain outstanding borrowings availed by our Company
2. Funding our incremental working capital requirements and
3. General corporate purposes
Company Contact Details
39/35, 2nd Floor, Main Rohtak Road, Near Shivaji Park Metro Station, West Punjabi Bagh Shivaji Park
West Delhi, New Delhi , 110026
Phone: 011 4850 4850
Email: investor@shellz.in
Website: https://www.shellz.in/
Registrar Contact Details
Shellz India FAQs
The Shellz India IPO is a SME public issue comprising 3350400 equity shares with a face value of ₹10 each, aggregating to a total issue size of ₹59.97 Cr. The issue price has been fixed at ₹179 per equity share, and the minimum application size is 800 shares.
The IPO opens for subscription on 15 Oct 2026, and closes on 19 Oct 2026.
Bigshare Services Pvt Ltd has been appointed as the registrar to the issue. The equity shares are proposed to be listed on the BSE
As of now, the current GMP stands at ₹0 (0%).
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