Shellz India IPO is preparing to launch its initial public offering (IPO), which aims to raise ₹59.97 crore through a book-built issue. The entire offer involves fresh issuance of 33.50 lakh equity shares, with the price band set between ₹170 and ₹179 per share. Bidding for membership will open on October 15, 2026 and will end on October 19, 2026. After closing, the allotment status is expected to be finalized on October 21, 2026, ahead of the company’s tentative launch on the BSE SME platform on October 23, 2026.
To participate in the offering, retail investors must apply for a minimum lot of 800 shares; However, considering the upper price band, the minimum retail entry requires two lots (1,600 shares), with a total investment of ₹2,86,400. For High Net-Worth Individuals (HNIs), the entry limit has been set at 3 lots (2,400 shares), amounting to ₹4,29,600. Socradamus Capital Pvt Ltd is behind the offer. Ltd. is managing the issue as the sole book-running lead manager, while BigShare Services Pvt. Ltd. Ltd. will oversee the allotment process as the Registrar. Additionally, Mansi shares
Shellz India IPO Allotment Status
| Company Name | Allotment Date | Listing Date | Registrar (Check Link) |
|---|---|---|---|
| Shellz India | Wed, Oct 21, 2026 | Fri, Oct 23, 2026 | https://ipo.bigshareonline.com/IPO_Status.html |
Shellz India IPO Overview
| Details | Descriptions |
|---|---|
| IPO Date | 15 to 19 Oct, 2026 |
| Listing Date | Fri, Oct 23, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹170 to ₹179 |
| Lot Size | 800 Shares |
| Sale Type | Fresh capital only |
| Total Issue Size | 33,50,400 shares (agg. up to ₹60 Cr) |
| Reserved for Market Maker | 3,29,600 shares (agg. up to ₹6 Cr) |
| Fresh Issue | 30,20,800 shares (agg. up to ₹54 Cr) |
| Net Offered to Public | 30,20,800 shares (agg. up to ₹54 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 87,16,704 shares |
| Share Holding Post Issue | 1,20,67,104 shares |
Shellz India IPO Schedule
| Details | Description |
|---|---|
| IPO Open Date | Thu, Oct 15, 2026 |
| IPO Close Date | Mon, Oct 19, 2026 |
| Tentative Allotment | Wed, Oct 21, 2026 |
| Initiation of Refunds | Thu, Oct 22, 2026 |
| Credit of Shares to Demat | Thu, Oct 22, 2026 |
| Tentative Listing Date | Fri, Oct 23, 2026 |
Shellz India Lot Size Details
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 1600 | ₹2,86,400 |
| Individual investors (IND) (Max) | 2 | 1600 | ₹2,86,400 |
| S-HNI (Min) | 3 | 2400 | ₹4,29,600 |
| S-HNI (Max) | 6 | 4800 | ₹8,59,200 |
| B-HNI (Min) | 7 | 5600 | ₹10,02,400 |
Issue Reservation
| Investor Category | Shares |
|---|---|
| QIB | Not more than 50 % of the Net Issue |
| NII | Not less than 15.00% of the Net Issue |
| Retail | Not less than 35.00% of the Net Issue |
Shellz India IPO GMP Trend
| GMP Date | IPO Price | GMP | Est. Listing Price | Est. Profit* |
|---|---|---|---|---|
| 13-Oct 9:57 | ₹179 | ₹0 (0.00%) ─ | ₹179 | ₹0 |
Overview of Shellz India
About Shellz India Limited Shellz India Limited was incorporated in May 2012 as a food and confectionery business. The firm is a progressively expanding company that is engaged in the manufacturing and sale of a diverse range of confectionery products.
Shellz India has already established multiple SKU offerings with more than 300 SKUs across various categories for its customers in urban, semi-urban and rural locations.
Brand Portfolio & Key Offerings
Shellz India brings its consumer products to market under two main flagship brands: Hugs and Tosca.
1. Hugs
- Target Segment: Mass market
- Product Range: Baked snacks, chocolate treats, jellies, panned chocolates, and traditional sugar confectionery.
- Pricing Strategy: Highly accessible pricing, with most products offered at ₹10 or lower to appeal to everyday consumers.
2. Tosca
- Target Segment: Mass-premium segment
- Focus Areas: Innovative formats, premium packaging, and quick distribution via e-commerce and quick-commerce platforms.
- Featured Product: Tosca Oat Choco — a healthy, oat-and-cereal bar created as a wholesome alternative to conventional sweets.
Distribution Network & Global Footprint
Shellz India has built an expansive supply network and market reach:
- Domestic Presence: As of March 31, 2026, the company operates through more than 300 super stockists, supplying local kirana stores across nearly 24 Indian states.
- Private Label & Exports: Beyond its proprietary brands, Shellz India offers contract private-label manufacturing for external clients and exports products to global regions, including Europe, South Asia, and the Middle East.
- Workforce: As of August 31, 2026, the company employs 258 full-time professionals spanning production, quality control, R&D, engineering, sales, and administration.
Core Competitive Strengths
What sets Shellz India Limited apart in the confectionery market?
- Scalable Distribution Model: Powered by a strong network of super stockists for wide market penetration.
- Diverse Product Innovation: Ability to design unique treats across various formats, packaging, and price points.
- In-House R&D & Technical Expertise: End-to-end product development supported by skilled technical teams.
- Strong Mass-Market Footprint: A versatile product portfolio tailored to everyday retail demand.
- Integrated Manufacturing Capabilities: In-house operations focused on strict quality control, safety, and operational scalability.
Company Financials
Shellz India Financial Information (Restated Standalone)
| 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 |
Key Performance Indicator (KPI)
The market cap. of Shellz India IPO is for Pre IPO ₹156.03 Cr., & for Post IPO ₹216.00 Crores.
KPI as of Mar 31, 2026
| KPI | Jun 30, 2026 | Mar 31, 2026 |
|---|---|---|
| ROE | 6.69% | 26.87% |
| ROCE | 4.69% | 19.11% |
| Debt/Equity | 1.72 | 1.71 |
| RoNW | 6.47% | 22.68% |
| PAT Margin | 8.63% | 6.94% |
| EBITDA Margin | 18.04% | 15.65% |
| NAV | 72.31 | 67.63 |
| P/B (x) | 2.48 | 2.65 |
IPO Valuation & Shareholding Structure
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 15.34 | 13.52 |
| P/E (x) | 11.67 | 13.24 |
| Company Promoters: | Kapil Garg and Shalini Garg. | |
| Promoter and Promoter Group | 88.11% | 63.64% |
| Public | 11.89% | 36.36% |
| Total | 100% | 100% |
Shellz India IPO Objectives
| Objects of the Issue | Expected Amount (₹ in cr.) |
|---|---|
| Repayment or prepayment, in full or in part, of certain outstanding borrowings availed by our Company | 22.00 |
| Funding our incremental working capital requirements and | 23.00 |
| General Corporate Purposes | – |
| Total | 45.00 |
Shellz India IPO Contact Details
- Shellz India Ltd.
- 39/35, 2nd Floor, Main Rohtak Road
- Near Shivaji Park Metro Station, West Punjabi Bagh
- Shivaji Park
- West Delhi, New Delhi, 110026
- 011 4850 4850
- investor@shellz.in
- Website: https://www.shellz.in/
Shellz India IPO Registrar
Bigshare Services Pvt.Ltd.
| Details | Descriptions |
|---|---|
| Phone: | 8657578989/8069219065/8069219060 |
| Email: | ipo@bigshareonline.com |
| Website: | https://ipo.bigshareonline.com/IPO_Status.html |
Shellz India IPO FAQs
When Shellz India IPO become available?
The IPO will open on Thu, Oct 15, 2026.
What is the minimum lot size for the Shellz India IPO?
The minimum lot size is 800 shares.
When will the shares for the Shellz India IPO be allotted?
The allotment is expected to be finalized on Wed, Oct 21, 2026
What is the expected listing date for the Shellz India IPO?
The tentative listing date is Fri, Oct 23, 2026.
How can I apply for the Shellz India IPO?
You can apply online through your bank or a broker using either the UPI or ASBA payment methods.
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