Shah Investor's Home IPO: dates, price band, lot size and GMP
Shah Investor's Home IPO listed on 6 Oct at ₹171 (NSE, BSE). Issue dates 28 – 30 Sep 2026, price band ₹159 – ₹167, lot 85 shares. The shares now trade on the exchange; any pre-IPO price on this site is historical.
Updated 6 Oct 2026, 14:11 IST. Dated dealer references.
BuyUnlistedShares tracks 197 IPOs on its calendar; the Shah Investor's Home IPO has a price band of ₹159 – ₹167, a lot of 85 shares and no grey-market premium reported yet as of 06 Oct 2026.
Key details
| Board | Mainboard |
|---|---|
| Issue dates | 28 – 30 Sep 2026 |
| Price band | ₹159 – ₹167 |
| Lot size | 85 shares |
| Issue size | ₹90.17 Cr |
| Fresh issue | ₹90.17 Cr |
| Subscription | 38.12x |
| Registrar | MUFG Intime India Pvt.Ltd. |
| Lead managers | Beeline Capital Advisors Pvt.Ltd. |
| Status | Listed |
Timeline
- Issue opens: 28 Sep
- Issue closes: 30 Sep
- Allotment: 1 Oct
- Refunds: 5 Oct
- Demat credit: 5 Oct
- Listing: 6 Oct
Live subscription
| Category | Subscribed |
|---|---|
| QIB | 28.05x |
| NII | 95.54x |
| sNII | 76.32x |
| bNII | 105.15x |
| Retail | 19.26x |
| Total | 38.12x |
Last updated 30 Sep 2026, 5:55 PM IST.
Issue details
| Face value | ₹10 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | NSE, BSE |
| Market cap at the upper band | ₹353.26 Cr |
| P/E (pre-issue) | 20.07x |
| P/E (post-issue) | 26.94x |
| Fresh issue (shares) | 53,99,200 |
| Total shares offered | 53,99,200 |
| Promoter holding pre-issue | 84.34% |
| Promoter holding post-issue | 62.81% |
| Promoters | Upendra Trikamlal Shah, Purnima Upendra Shah, Tanmay Upendra Shah, Trupti Utpal Shah |
| Lead managers | Beeline Capital Advisors Pvt.Ltd. |
| Registrar phone | 022-49186000 |
| Registrar email | shahInvestors.ipo@in.mpms.mufg.com |
| Company website | sihl.in |
| Anchor bid date | 25 Sep 2026 |
| Anchor lock-in ends (50%) | 31 Oct 2026 |
| Anchor lock-in ends (remaining) | 30 Dec 2026 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 1 | 85 | ₹14,195 |
| Retail (maximum) | 15 | 1,275 | ₹2,12,925 |
| sNII (minimum) | 15 | 1,275 | ₹2,12,925 |
| bNII (minimum) | 71 | 6,035 | ₹10,07,845 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| Anchor Investor | 30% | 16,19,760 | |
| QIB | 20% | 10,79,840 | Not more than 50% of the Net Issue |
| NII (HNI) | 15% | 8,09,880 | Not less than 15% of the Net Issue |
| sNII | 5% | 2,69,960 | |
| bNII | 10% | 5,39,920 | |
| Retail | 35% | 18,89,720 | Not less than 35% of the Net Issue |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 28 Sep | 0.50x | 0.25x | 0.53x | 0.12x | 0.24x | 0.32x |
| Day 2 · 29 Sep | 1.08x | 1.59x | 2.04x | 1.37x | 0.90x | 1.10x |
| Day 3 · 30 Sep | 28.05x | 95.54x | 76.32x | 105.15x | 19.26x | 38.12x |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹8.32 |
|---|---|
| EPS (post-issue) | ₹6.2 |
| P/E (pre-issue) | 20.07x |
| P/E (post-issue) | 26.94x |
| RoNW | 7.35% |
| RoCE | 10.61% |
| RoE | 7.59% |
| PAT margin | 18.24% |
| EBITDA margin | 30.24% |
| Price / book | 1.46x |
| NAV per share | ₹114.07 |
| Debt / equity | 0.1 |
| Market cap (upper band) | ₹353.26 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 304.44 | 302.57 | 298.76 | +0.6% |
| Total Income | 72.4 | 94.47 | 79.05 | −23.4% |
| Profit After Tax | 13.11 | 23.42 | 18.05 | −44% |
| EBITDA | 21.62 | 35.31 | 25.13 | −38.8% |
| NET Worth | 179.71 | 168.09 | 150.54 | +6.9% |
| Reserves and Surplus | 163.95 | 152.34 | 134.79 | +7.6% |
| Total Borrowing | 18.47 | 5.71 | 3.54 | +223.5% |
About Shah Investor's Home
Incorporated in 1994, Shah Investor's Home Ltd. is retail brokering company that offers a range of services covering equity brokerage services and derivatives brokerage services.
The company offer services facilitate the buying and selling of financial products such as equities, IPO investing, mutual funds distribution, and other securities.
The company's primarily focus on providing secondary market brokering services to retail customers, comprising both resident and non-resident Indians. In addition to executing buy and sell orders, their business extends to offering mutual fund distribution, margin funding, and stock lending and borrowing services, which are carried out under the brand name "Shah Investors".
As of March 31, 2025, the company served over 100,000 demat accounts, with more than 37,810 active clients and partnerships with over 184 authorised persons. They conduct operations through 11 branches in India, located in Mumbai, Ahmedabad, Vadodara, Junagadh, Gandhinagar and Rajkot.
Objects of the issue
- Funding working capital requirements of the Company — ₹60 Cr
- General Corporate Purposes — ₹18.56 Cr
- Issue Expenses — ₹11.61 Cr
Net proceeds: ₹90.17 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Shah Investor's Home Ltd. (issuer) | 8.38 | 8.38 | 114.07 | — | 7.35% | — | Consolidated |
| Smc Global Securities Ltd. | 4.87 | 4.87 | 62.27 | 16.28x | 7.82% | 1.27 | Consolidated |
| Share India Securities Ltd. | 14.79 | 14.76 | 120.41 | 11.7x | 12.28% | 1.43 | Consolidated |
| Arihant Capital Markets Ltd. | 2.87 | 2.87 | 40.23 | 27.09x | 7.13% | 1.93 | Consolidated |
Notes: Basic EPS and Diluted EPS refer to the Basic EPS and Diluted EPS sourced from the financial statements of the respective company. P/E Ratio has been computed based on the closing market price of equity shares on NSE on August 31, 2026 divided by the Basic/Diluted EPS provided. Return on Net Worth for equity shareholders (%) (RONW) = Profit for the year attributable to the equity shareholders of the Company divided by total net worth.
Strengths (per the offer document)
- Sizeable clientele across Gujarat, with a strong regional presence — As of March 31, 2025 we have served over 100,000 demat accounts, with more than 37,810 active trading accounts and partnerships with over 184 authorised person.
- Strong track record of financial performance and operating efficiency — Over the years we have exhibited a strong track record of financial performance and have achieved optimal operating efficiency by maintaining high rates of customer retention, strategic expansion in…
- Key Financial Information — Details of KPIs for the Fiscal 2025, 2024 and 2023: GAAP Measures Revenue from operations (₹lakhs) 9,427.39 7,782.36 5,168.30 Profit before Tax (₹lakhs) 3,140.22 2,400.68 988.70 Profit After Tax…
- Leveraging technology to enhance client satisfaction — Investor expectations are also evolving towards hyper-personalisation, with increasing demand for tailored portfolios, automated rebalancing, and predictive insights (CARE Report).
- Integrated brokerage model with long term client relationships — The broking industry in India is estimated to be valued at ~ Rs 0.52 lakh crore as of FY25 and expected to grow at a CAGR of 16-18% over the next 2-3 years.
- Active Clients in the Broking — 37,814 35,535 31,372 Segment Total of Active Clients trading in 35,816 33,792 29,989 equity cash segment % of Active Clients 94.72% 95.09% 95.59% Total of Active Clients trading in 1,998 1,743 1,383…
- Experienced Promoters and Management Team — Our growth has been stirred by the effective management skills of our Promoters Upendra Shah, Purnima Upendra Shah, Tanmay Upendra Shah and Trupti Utpal Shah who have a combined experience of over…
Risk factors (as disclosed by the company)
- Our broking segment contributes 68.90%, 71.60%, and 71.60% of our revenue for the Fiscals 2025, 2024 and 2023, respectively — Our broking segment has consistently been our largest business vertical and contributes a substantial share to our revenue from operations.
- We are subject to extensive statutory and regulatory requirements and supervision — us by relevant authorities which may have a material adverse impact on our business, results of operations and financial condition.
- We rely heavily on our network of Authorised Persons associated with us — Our Broking business have consistently been a significant source of our revenues from operations, and we expect that this will continue for the foreseeable future.
- Any failure to obtain, renew and maintain requisite statutory and regulatory permits — Our business is subject to compliance with the rules, regulations, bye-laws and circulars prescribed by various entities including SEBI, APMI, AMFI, depositories, stock exchanges and commodity…
- We rely on the Indian exchanges for a significant portion of our business — Our Broking Segment relies on the Indian exchanges, including NSE, NSEIX, BSE, MCX and MSEI, and the clearing corporations to execute and settle all our clients’ transactions.
- Our continued success and growth will be dependent on our ability to retain and grow our client base and network of Authorised Person and relationship managers — Our business operations have in the recent past witnessed significant growth, which is to a large extent correlated to the growth in our active client base (Active clients are clients who have…
- We have high working capital requirements — Our business operations are subject to high working capital requirements.
- We have applied for registrations of certain intellectual property rights and any failure to enforce our rights could have an adverse effect on our business… — Our trademark is significant to our business and operations.
From the DRHP (strengths pages 444–448, risk factors pages 45–50). Headings shortened; the wording is the company’s. Not a recommendation.
Offer documents: DRHP (PDF) · RHP (PDF)
Track this issue
- Shah Investor's Home IPO GMP today and trend
- Shah Investor's Home IPO subscription status, day by day
- Shah Investor's Home IPO allotment status and how to check
Frequently asked questions
When does the Shah Investor's Home IPO open and close?
The issue is scheduled for 28 – 30 Sep 2026.
What is the Shah Investor's Home IPO price band?
The price band is ₹159 – ₹167 per share with a lot size of 85 shares.
How big is the Shah Investor's Home IPO?
The total issue size is ₹90.17 Cr.
When will Shah Investor's Home list?
The tentative listing date is 6 Oct on the main board.
How do I apply for the Shah Investor's Home IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Shah Investor's Home · as filed with SEBI · bseindia.com
- Red herring prospectus (RHP), Shah Investor's Home · as filed · sebi.gov.in
- Registrar allotment page, MUFG Intime India Pvt.Ltd. · allotment 1 Oct · in.mpms.mufg.com
- NSE public issues page · listing 6 Oct · nseindia.com
- BSE public issues page · listing 6 Oct · bseindia.com
- Shah Investor's Home company website · sihl.in
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 6 Oct, 04:07 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Shah Investor's Home IPO”, https://buyunlistedshares.com/ipo/shah-investors-home-ipo, as of 06 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk: the unlisted and pre-IPO dealing desk of Gayatri Financial Synergy, Faridabad, in the market since 2002. Reviewed by the BuyUnlistedShares desk before publishing. Data as of 06 Oct 2026.
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