Shanti Inorganics Limited

Total Issue Size

₹47.24 Cr

56,91,200 shares

Fresh Issue

₹47.24 Cr

56,91,200 shares

Offer for Sale

₹0 Cr

Face Value

₹10 per share

Issue Type

Book-built IPO

Listing At

NSE SME

Shares Pre-Issue

1,15,56,200

Shares Post-Issue

1,72,47,400

1. Offer opens

   31 Aug 2026

2. Offer closes

   2 Sept 2026

3. Allotment

   3 Sept 2026

4. Listing

   7 Sept 2026

• Anchor28.5%16,19,200 shares
• QIB19.0%10,81,600 shares
• HNI14.3%8,11,200 shares
• Retail33.3%18,94,400 shares
• MarketMaker5.0%2,84,800 shares

Incorporated in January 2010, Shanti Inorganics Ltd. manufactures and trades sulfur-based inorganic chemicals. Its main products include sodium metabisulphite, sodium sulfite powder, ammonium bisulfite solution, and sodium bisulfite powder/solution. These products are mainly used as preservatives, reducing agents, oxygen scavengers, and process intermediates across industries such as oil drilling, pharmaceuticals, food and beverages, pulp and paper, and water treatment. The company operates two manufacturing facilities in Gujarat: one at GIDC, Vatva, Ahmedabad, and the other at Sankalp Industrial Estate, Chiyada, Bavla, Ahmedabad. The company sells its products in both domestic and international markets. In the domestic market, it served 29 customers during the two-month period ended May 31, 2026, compared with 64 customers in Fiscal 2026, 48 in Fiscal 2025, and 46 in Fiscal 2024. In international markets, it served 8 customers during the two-month period ended May 31, 2026, compared with 20 customers in Fiscal 2026 and 21 customers each in Fiscal 2025 and Fiscal 2024. The company exports its products to several countries, including the United Arab Emirates, Malaysia, Qatar, Nigeria, Russia, Colombia, Turkey, Vietnam, Egypt, Ghana, the Philippines, and others. As of May 31, 2026, the company had 66 employees across various departments. Key Strengths Growing international presence : The company sells its products in several overseas markets, reducing its dependence on the domestic market. Diversified customer base: It has established relationships with customers across multiple industries, which helps reduce dependence on any single sector. Strategic manufacturing locations: Its production facilities are located in Gujarat, providing access to raw materials and established supplier relationships. Quality and safety standards: The company follows relevant quality and food safety standards and holds certifications supporting its manufacturing and product quality.

• Part funding the capital expenditure towards setting up a new facility for manufacturing of sodium meta bisulphite, sodium bisulphite powder and ammonium bisulphite situated at Bavla, Ahmedabad, Gujarat (₹42.50 Cr)
• Issue Expenses (₹4.74 Cr)

• <p>Manojkumar Jayantilal Patel
• Avnish Manojkumar Patel</p>

Book running lead managers

• Vivro Financial Services Pvt.Ltd.

Registered office

Plot No.-2015,, Phase III GIDC, Vatva, Ahmedabad, Gujarat, 382445

Market maker

Rikhav Securities Ltd.

• DRHPDraft Red Herring Prospectus
• RHPRed Herring Prospectus
• AnchorAnchor Investor List