GMP IPO Watch
Shellz India IPO
Shellz India IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
Shellz India IPO Details
Key facts at a glance| IPO Open Date | 14 October 2026 | IPO Close Date | 18 October 2026 |
|---|---|---|---|
| Basis of Allotment | 20 October 2026 | Listing Date | 22 October 2026 |
| Price Band | ₹170 - ₹179 per share | Face Value | ₹10 per share |
| Market Lot Size | 800 Shares | Min Investment (Retail) | ₹2,86,400 |
| Total Issue Size | ₹59.97 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | ₹59.97 Cr | Offer for Sale (OFS) | — |
| Listing At | BSE SME | Issue Category | SME Issue |
| Registrar | Bigshare Services Pvt. Ltd. | ||
Shellz India IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 14 October 2026 | Confirmed |
| IPO Close Date | 18 October 2026 | Confirmed |
| Basis of Allotment | 20 October 2026 | Tentative |
| Initiation of Refunds | 22 October 2026 | Tentative |
| Credit of Shares to Demat | 22 October 2026 | Tentative |
| IPO Listing Date | 22 October 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 19 October 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
Shellz India IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 2 Lots | 1,600 Shares | ₹2,86,400 |
| Retail (Max) | 2 Lots | 1,600 Shares | ₹2,86,400 |
| S-HNI (Min) | 3 Lots | 2,400 Shares | ₹4,29,600 |
| S-HNI (Max) | 6 Lots | 4,800 Shares | ₹8,59,200 |
| B-HNI (Min) | 7 Lots | 5,600 Shares | ₹10,02,400 |
Shellz India IPO Live GMP & Movement History
Daily unofficial grey market trends₹7 +3.9%
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 23 Oct 2026 | ₹7 | ₹186.00 | +3.91% |
| 22 Oct 2026 | ₹25 | ₹204.00 | +13.97% |
| 21 Oct 2026 | ₹35 | ₹214.00 | +19.55% |
| 20 Oct 2026 | ₹35 | ₹214.00 | +19.55% |
| 19 Oct 2026 | ₹35 | ₹214.00 | +19.55% |
| 16 Oct 2026 | ₹0 | ₹179.00 | 0.00% |
| 14 Oct 2026 | ₹0 | ₹179.00 | 0.00% |
Shellz India IPO Subscription Status
Demand breakdown by investor categoryShellz India Company Financials
Restated figures (₹ in Crores)| Period | Total Assets | Total Revenue | Total Expenses | Profit After Tax (PAT) |
|---|---|---|---|---|
| 2024 | 147.04 Cr. | 162.81 Cr. | 154.84 Cr. | 5.25 Cr. |
| 2025 | 167.36 Cr. | 187.39 Cr. | 174.77 Cr. | 8.30 Cr. |
| 2026 | 213.72 Cr. | 193.18 Cr. | 173.89 Cr. | 13.37 Cr. |
| June 2026 | 229.36 Cr. | 47.43 Cr. | 41.60 Cr. | 4.08 Cr. |
* Amounts reported in ₹ Crores as sourced from company regulatory filings (RHP/DRHP).
Shellz India IPO Valuation & KPIs
Key metrics pre-issueShellz India Peer Group Comparison
Listed industry peers| Company Name | P/E | EPS (₹) | RoNW (%) | NAV (₹) | Total Income |
|---|---|---|---|---|---|
| Annapurna Swadisht Limited | 8.66 | 14.38 | 9.50% | 151.33 | – Cr. |
About Shellz India
Shellz India is a manufacturer of confectionery products operating primarily in the mass-market segment with price points below ₹10. The company caters to price-sensitive consumers across Tier II and Tier III cities, maintaining a significant geographic focus on the North Indian market, which contributes the majority of its sales. Its core product portfolio comprises baked treats, choco delights, jellies, panned and sugar candies, alongside food and bakery ingredients. The business generates revenue mainly through the sale of these products under its primary brands, Hugs and Tosca. To reach consumers, the company relies on a distribution network of super stockists who supply local distributors, wholesalers, and retail outlets. Shellz India conducts manufacturing operations from its Delhi facility, while working to consolidate production capacity at a new facility in Sonipat, Haryana. Furthermore, it has undertaken backward integration by producing packaging materials in-house for captive consumption.
Shellz India IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 15 Oct 2026 |
| IPO Close Date | 19 Oct 2026 |
| Basis of Allotment | 21 Oct 2026 |
| Refunds | 22 Oct 2026 |
| Credit to Demat Account | 22 Oct 2026 |
| IPO Listing Date | 23 Oct 2026 |
Note: The timeline for Shellz India IPO is tentative and subject to change.
Shellz India Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Repayment or prepayment of certain outstanding borrowings | 22 (36.68%) |
| Funding incremental working capital requirements | 23 (38.35%) |
| General Corporate Purposes | 14.97 (24.97%) |
Note: Objectives are as specified in the DRHP/RHP documents of Shellz India.
Shellz India Company Financial Report
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 162.81 Cr. | 154.84 Cr. | 5.25 Cr. | 147.04 Cr. |
| 2025 | 187.39 Cr. | 174.77 Cr. | 8.30 Cr. | 167.36 Cr. |
| 2026 | 193.18 Cr. | 173.89 Cr. | 13.37 Cr. | 213.72 Cr. |
| June 2026 | 47.43 Cr. | 41.60 Cr. | 4.08 Cr. | 229.36 Cr. |
Note: Financial numbers for Shellz India are in ₹ Crores unless stated otherwise.
Shellz India Company Valuation & Key Performance Indicators
| KPI | Values |
|---|---|
| ROE | 26.87% |
| ROCE | 19.11% |
| EBITDA Margin | 15.65% |
| PAT Margin | 6.94% |
| Debt to Equity Ratio | 1.71 |
| Earning Per Share (EPS) | 15.37 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 22.68% |
| Net Asset Value (NAV) | 67.63 |
Note: Valuation KPIs for Shellz India are computed for FY2026.
Shellz India Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Annapurna Swadisht Limited | 14.38 | 8.66 | 9.50% | 151.33 | – Cr. |
Note: Peer group comparisons for Shellz India are sourced from DRHP filings.
Shellz India IPO FAQs
Shellz India IPO opens for subscription on 14 October 2026 and closes on 18 October 2026.
The price band for Shellz India IPO is set at ₹170.00 to ₹179.00 per share.
The minimum market lot size is 800 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 1,600 Shares (₹2,86,400).
The latest Grey Market Premium (GMP) for Shellz India IPO is ₹7. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for Shellz India IPO is tentatively scheduled for 20 October 2026, and shares are expected to list on the stock exchanges on 22 October 2026.
Bigshare Services Pvt. Ltd. is the official registrar for Shellz India IPO. Investors can check their IPO allotment status directly on the registrar's portal once finalized.