Shellz India IPO
Shellz India IPO is an SME IPO raising ₹60 Cr at ₹170 – ₹179 a share. It listed on 23 Oct 2026 at ₹179, 0.0% against its issue price of ₹179, and trades at ₹162 today (−9.8% since issue). It was subscribed 51× in total.
50.8 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs179 + OFS by subtraction from exchange total Rs60 Cr. Checked: exchange issue size Rs60 Cr vs derived Rs60 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 34% above the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Shellz India Limited | — | 22.68% | ₹15.37 |
| Annapurna Swadisht Limited | 8.66× | 9.5% | ₹14.38 |
| This issue | 11.6× | 22.68% | ₹15.37 |
derived: cut-off price Rs179 / stated EPS Rs15.37 (FY26 (year ended March 31, 2026) diluted EPS, restated consolidated). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.