Shah Investor’s Home IPO
Shah Investor’s Home IPO is a mainboard IPO raising ₹90 Cr at ₹159 – ₹167 a share. It listed on 6 Oct 2026 at ₹171, +2.4% against its issue price of ₹167, and trades at ₹135 today (−19.0% since issue). It was subscribed 38× in total.
38.1 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
What this company actually does
Read out of the prospectus’s business section, stripped of its marketing language.
Shah Investor's Home Limited (SIHL) is a retail stock-broking company that executes equity, derivatives and commodity trades for retail and HNI clients (including NRIs) on NSE, BSE and MCX, under the brand 'Shah Investors'. Founded in 1995 as an NSE trading member, the company also offers depository services through NSDL, margin trading funding, distribution of mutual funds and portfolio management schemes, and access to global equities via its GIFT City-based subsidiary SIHL Global Investments (IFSC). Operations are heavily concentrated in Gujarat, with additional presence in Mumbai.
How it earns
Primarily through brokerage commissions on client trades (₹46.30 crore / 64.78% of FY2026 operating revenue), supplemented by interest on delayed client payments (₹12.55 crore / 17.56%), interest on bank deposits (₹6.81 crore / 9.53%), interest on margin funding (₹2.23 crore / 3.11%), depository account maintenance charges (₹1.19 crore / 1.67%), and other income (₹0.46 crore / 0.64%). Note: 1 crore = 100 lakh.
Who buys
Retail investors and HNIs (resident and non-resident Indians); corporate clients mentioned. Active client base of 38,189 as of March 31, 2026, of which 36,720 (96.15%) are in Gujarat, 907 (2.38%) in Maharashtra and 562 (1.47%) elsewhere. No named individual or institutional customers are disclosed.
Scale
11 branches across 6 cities (Mumbai, Ahmedabad, Vadodara, Junagadh, Gandhinagar, Rajkot); 181 authorised persons across 28 cities; 38,189 active clients; over 1,00,000 demat accounts served cumulatively; member of NSE, BSE and MCX. Employee count not stated in the provided text.
What it says sets it apart
- Gujarat-dominant client base: 36,720 of 38,189 active clients (96.15%) based in Gujarat, supported by 11 branches in 6 cities and 181 authorised persons spread across 28 cities
- Long-tenured client relationships: 27,728 active clients (72.61%) associated for more than 5 years and another 5,633 (14.75%) for 3-5 years as of March 31, 2026
- Rising digital share: brokerage from digital platforms grew from 17.61% (FY24) to 42.62% (FY26) of total brokerage; SIHL Moneymaker app has 33,287 downloads and 12,452 active registered users as of March 31, 2026
- Diversified product suite spanning equity cash, F&O, commodities (MCX membership admitted June 6, 2025), SLBM (since 2020), mutual fund and PMS distribution, margin trading facility, algo/API trading (ALGOFY platform) and global equity access through SIHL Global Investments (IFSC)
- MTF book quality: ₹20.96 crore book as of March 31, 2026 with 0% default rate and 153.75% collateral coverage ratio; 1,200 MTF-registered clients, 476 active users
Revenue mix
The prospectus gives overlapping breakdowns here, so the shares are not shown.
Where the money goes
The offer →Most of this issue is new shares — the money raised goes to the company, not to exiting shareholders.
How its cohort has done
101 mainboard issues listed in 2026 that we can price today. This is the group this issue belongs to.
Neither figure is a forecast for this issue — they describe what happened to comparable issues. Full cohort analytics →
How the book finished
The category split is the number worth reading, not the total.
Non-institutional: 96× their allocation. Retail: 19×.
What we hold for this issue
Stated up front on every issue, so a sparse page reads as a fact about the source rather than a broken one.
Led by Beeline Capital Advisors Private Limited — median −0.5% across the 33 of its issues we can price. All lead managers →
What happens when
Next: the UPI mandate expires on 11 Nov 2026.
Track SHAH INVESTORS HOME LTD
Results, orders, board decisions and every other filing — summarised and sent to your WhatsApp the minute they are out.
Figures are as published by the exchanges and the issuer’s prospectus. MarketPing publishes facts, comparisons and history only — nothing here is a recommendation to apply to this issue, and we do not publish grey market premium.