Shah Investor's IPO
Shah Investor's IPO Listing Day Performance
Shah Investor's listed on BSE & NSE on 06 October 2026 at ₹171.00, a 2.4% premium over the issue price of ₹167. A retail investor allotted one lot of 85 shares gained ₹340 at the listing price.
GMP vs actual listing
| Last GMP before listing | ₹17 (+10.2%) |
| GMP-implied listing | ₹184 |
| Actual listing | ₹171.00 |
| Difference | −₹13 (−7.1%) |
Demand going into listing
| Subscribed overall | 38.12× |
| QIB | 28.05× |
| NII | 95.54× |
| Retail | 19.26× |
Market Sentiment
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Final |
|---|---|---|---|
| QIB | 0.50x | 1.08x | 28.05x |
| NII | 0.25x | 1.59x | 95.54x |
| bNII > ₹10L | 0.12x | 1.37x | 105.15x |
| sNII 2-10L | 0.53x | 2.04x | 76.32x |
| Retail | 0.24x | 0.90x | 19.26x |
| Total | 0.31x | 1.10x | 38.12x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue | 52.33 | 79.05 | 94.47 | 72.40 |
| Expense | 42.44 | 55.05 | 63.06 | 54.09 |
| Profit (PAT) | 7.40 | 18.05 | 23.42 | 13.11 |
| Total Assets | 211.87 | 298.76 | 302.57 | 304.44 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Shah Investor's This IPO | 8.38 | - | 7.35 | 114.07 | - |
| SMC Global Securities Limited | 4.87 | 16.28 | 7.82 | 62.27 | 1,876.92 Cr |
| Share India Securities Limited | 14.79 | 11.68 | 12.28 | 120.41 | 1,470.26 Cr |
| Arihant Capital Markets Limited | 2.87 | 27.09 | 7.13 | 40.23 | 205.84 Cr |
Strengths & Risks
- Heavily oversubscribed — 38.1x overall (final).
- Strong institutional (QIB) demand — 28.1x.
- Solid profit margin — 18.1%.
- Low leverage — debt/equity of 0.10.
- Revenue fell 23% in the latest reported year.
- Modest return on equity — 8%.
From this issue's live data. Not investment advice — read the RHP.
Company Information
Shah Investor's at a glance
From the company's description: “Shah Investor’s Home Ltd is one of the leading retail brokering companies in providing equity brokerage services and derivatives brokerage services.”
Shah Investor's is raising ₹90.17 crore through an IPO on the BSE and NSE mainboard. All of it is a fresh issue: there is no offer for sale, so every rupee raised goes to the company rather than to selling shareholders. Main stated uses of the fresh money: Funding working capital requirements of the Company (₹60 crore).
Revenue went from ₹52.33 crore in 2023 to ₹72.4 crore in 2026, up 38% over 3 years. Profit after tax went from ₹7.4 crore to ₹13.11 crore, a net margin of 18% in the latest year.
Debt stands at 0.1 times equity.
Written from the issue's offer-document figures shown on this page. Not investment advice.
Company Contact Information
Shah Investor’s Home Ltd., 810, X-Change Plaza,, DSCCSL (53E), Road 5E,, Block 53, Zone 5, Gift City, Gandhinagar, Gujarat, 382050
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Funding working capital requirements of the Company | 60.00 |
| General Corporate Purpose | - |
Resources & Documents
Anchor Investors
Shah Investor's IPO - Quick Take
Shah Investor's has set a price band of Rs 159–Rs 167 per share for an issue size of Rs 90 crore. The stock listed with a 2.40% gain versus its issue price on October 06, 2026.
The issue is promoted by Upendra Trikamlal Shah, Purnima Upendra Shah, Tanmay Upendra Shah and Trupti Utpal Shah with BEELINE CAPITAL ADVISORS PRIVATE LIMITED acting as lead manager. Net proceeds will primarily be used towards funding working capital requirements of the Company (Rs 60 crore) and general Corporate Purpose.
On fundamentals, the company is posting revenue growth of -23.4%, a profit margin of 18.1%, return on equity of 7.6% in its most recent reported period. Listed peers in this segment include SMC Global Securities Limited (P/E 16.28x) and Share India Securities Limited (P/E 11.68x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read strong — the composite picture tilts positive, though not without some caveats. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Shah Investor's IPO: Lead Manager & Registrar Track Record
How the firm running this issue and its registrar have fared on the other IPOs we track. Each firm's figures leave out Shah Investor's itself, so they describe what came before it.
- Shah Investor's listed at +2.4% on day one; the median of 113 listings was +7% (better than 35% of them).
- Subscribed 38.12x against a median of 20.43x across 111 issues (higher than 58%).
- Average listing-day move across all 114 Mainboard listings we track: +13.6%.
| Firm | Other IPOs | Listed at / above issue | Avg move | Median |
|---|---|---|---|---|
| BEELINE CAPITAL ADVISORS PRIVATE LIMITED Lead manager | 4 1 MB · 3 SME | 100% 4 of 4 | +15% | +8.4% |
| MUFG Intime India Pvt. Ltd. Registrar | 65 43 MB · 22 SME | 74% 46 of 62 | Check allotment → | |
Recent listings managed by BEELINE CAPITAL ADVISORS PRIVATE LIMITED (4)
Best: Kratikal Tech +42.2% · Weakest: Vectras Enprocon +1%
| IPO | Listed | Listing-day move |
|---|---|---|
| Vectras Enprocon | 06 Nov 2026 | +1% |
| Kratikal Tech | 07 Jul 2026 | +42.2% |
| Om Power Transmission | 17 Apr 2026 | +6.3% |
| Modern Diagnostic | 07 Jan 2026 | +10.6% |
A SEBI-registered merchant banker that runs the issue: due diligence, drafting the offer document, setting the price band with the company, and marketing the IPO to investors.
Finalises the basis of allotment, credits shares to demat accounts, releases blocked funds for unsuccessful bids and handles investor queries about the issue.
Listing-day move = exchange opening price vs issue price (band ceiling where the final price isn't recorded). Counts cover IPOs we track only. Past listings don't predict this one; this is not investment advice.
Frequently Asked Questions
Shah Investor's IPO GMP — What It Means
Its last GMP before listing was 10.2%. Of the 26 Mainboard IPOs we have tracked with a final GMP between 10% and 25%, 23 listed above, 2 flat and 1 below the issue price; Shah Investor's listed 2.4% above its issue price.
See the full Shah Investor's GMP history and trend, or learn how grey market premium works and how reliable it is.
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