Shivchem Agro IPO: dates, price band, lot size and GMP
Shivchem Agro IPO listed on 6 Oct at ₹62 (BSE SME). Issue dates 28 – 30 Sep 2026, price band ₹59 – ₹62, lot 2,000 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 Shivchem Agro IPO has a price band of ₹59 – ₹62, a lot of 2,000 shares and no grey-market premium reported yet as of 06 Oct 2026.
Key details
| Board | SME |
|---|---|
| Issue dates | 28 – 30 Sep 2026 |
| Price band | ₹59 – ₹62 |
| Lot size | 2,000 shares |
| Issue size | ₹14.01 Cr |
| Fresh issue | ₹13.31 Cr |
| Subscription | 2.2x |
| Registrar | Maashitla Securities Pvt.Ltd. |
| Lead managers | Shannon 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 | 1x |
| NII | 1x |
| sNII | 1.08x |
| bNII | 0.97x |
| Retail | 3.5x |
| Total | 2.2x |
Last updated 30 Sep 2026, 5:55 PM IST.
Issue details
| Face value | ₹5 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | BSE SME |
| Market cap at the upper band | ₹46.7 Cr |
| P/E (pre-issue) | 10.06x |
| P/E (post-issue) | 14.39x |
| Fresh issue (shares) | 21,46,000 |
| Total shares offered | 21,46,000 |
| Promoter holding pre-issue | 92.73% |
| Promoter holding post-issue | 64.91% |
| Promoters | Rohit Agarwal, Sachin Agarwal, Deepa Agarwal |
| Lead managers | Shannon Advisors Pvt.Ltd. |
| Registrar phone | 011-45121795 |
| Registrar email | investor.ipo@maashitla.com |
| Company website | shivchemagro.com |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 2 | 4,000 | ₹2,48,000 |
| Retail (maximum) | 2 | 4,000 | ₹2,48,000 |
| sNII (minimum) | 3 | 6,000 | ₹2,48,000 |
| bNII (minimum) | 3 | 6,000 | ₹11,16,000 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| QIB | 5% | 1,08,000 | Not more than 50% of the Net Offer |
| NII (HNI) | 47.3% | 10,14,000 | Not less than 15% of the Net Issue |
| sNII | 15.8% | 3,38,000 | |
| bNII | 31.5% | 6,76,000 | |
| Retail | 47.7% | 10,24,000 | Not less than 35% of the Net Issue |
| Market Maker | 5.3% | 1,14,000 |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 28 Sep | 0.00x | 0.14x | 0.07x | 0.17x | 0.10x | 0.11x |
| Day 2 · 29 Sep | 0.00x | 0.60x | 0.20x | 0.80x | 0.68x | 0.61x |
| Day 3 · 30 Sep | 1.00x | 1.00x | 1.08x | 0.97x | 3.50x | 2.20x |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹6.16 |
|---|---|
| EPS (post-issue) | ₹4.31 |
| P/E (pre-issue) | 10.06x |
| P/E (post-issue) | 14.39x |
| RoNW | 28.76% |
| RoCE | 30.04% |
| RoE | 28.76% |
| PAT margin | 9.61% |
| EBITDA margin | 17.69% |
| Price / book | 2.53x |
| NAV per share | ₹24.5 |
| Debt / equity | 0.56 |
| Market cap (upper band) | ₹46.7 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 45.04 | 36.29 | 16.41 | +24.1% |
| Total Income | 33.84 | 27.5 | 10.95 | +23.1% |
| Profit After Tax | 3.25 | 2.6 | 1.29 | +25% |
| EBITDA | 5.98 | 4.32 | 1.93 | +38.4% |
| NET Worth | 12.92 | 9.67 | 1.5 | +33.6% |
| Reserves and Surplus | 10.28 | 7.04 | 1.45 | +46% |
| Total Borrowing | 7.28 | 8.26 | 7.1 | −11.9% |
About Shivchem Agro
Incorporated in 2021, Shivchem Agro is an ISO 9001:2015, ISO 22000:2018, and ISO 31000:2018 certified agrochemical company based in India. The company manufactures stock, distribute, and sell a wide range of agricultural formulations, including insecticides, fungicides, herbicides, plant growth regulators, rodenticides, and fertilizers. These products are available in both solid (powders) and liquid (emulsifiable concentrates) forms, helping farmers improve crop protection and productivity.
Products:
The company is licensed under the Insecticides Act, 1968 to manufacture 176 agrochemical products-88 insecticides, 40 fungicides, 37 herbicides, 8 plant growth regulators, and 3 rodenticides-approved by the Central Insecticides Board and Registration Committee (CIBRC), Haryana. It is also authorized to manufacture 82 fertilizers under the Fertilizer Control Order, 1985.
The company is licensed to sell and distribute our products in Andhra Pradesh, Telangana, Odisha, Assam, and Madhya Pradesh, with a network of 516 distributors and 6 godowns across these states as of March 31, 2025.
Manufacturing facility: Its manufacturing facility in Jhajjar, Haryana, is equipped with modern machinery and pollution control systems, including an Effluent Treatment Plant (ETP) and a Wet Scrubber Unit.
As on August 31, 2025, its total workforce has 59 permanent employees.
Objects of the issue
- Funding the working capital requirements of the Company — ₹6.9 Cr
- Repayment/prepayment, in full or part, of certain loans availed by Company — ₹3.5 Cr
- General Corporate Purposes — ₹1.51 Cr
- Issue Expenses — ₹2.1 Cr
Net proceeds: ₹14.01 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Shivchem Agro Ltd. (issuer) | 6.16 | 6.16 | 24.5 | — | 28.76% | — | Restated |
| Super Crop Safe Ltd. | 0.52 | 0.52 | 7.8 | 27.83x | 6.69% | 2 | Standalone |
| Sikko Industries Ltd. | 0.33 | 0.33 | 1.98 | 15.21x | 5.92% | 5 | Standalone |
Super Crop Safe Limited, closing market price as on August 31, 2026, on BSE Limited has been considered for calculation of P/E. Sikko Industries Limited, closing market price as on August 31, 2026, on NSE Limited has been considered for calculation of P/E. Note: Pursuant to the certificate dated September 12, 2026, issued by M/s VMSM & Co., Chartered Accountants, Statutory & Peer Review Auditor of the Company. Notes: Considering the nature and size of the business of the Company, the peers are not strictly comparable. However, the above Company has been included for broad comparison.
Strengths (per the offer document)
- Wide spread of distribution network
- Diversified product portfolio
- On-field product demonstrations
- Manufacturing facility with ability to manufacture a wide range of products
- Enhanced efficiency through automated filling and packaging machines
Risk factors (as disclosed by the company)
- We require various statutory and regulatory approvals, including licenses under the Insecticides Act, 1968 and the Fertilizer Control Order — operate our business and manufacturing facility would adversely affect our operations, results of operations and financial condition.
- We are subject to stringent technical specifications and quality requirements in relation to our products — (CIBRC), as well as the Agriculture and Farmers Welfare Department, Haryana, Panchkula.
- Our products may become obsolete or ineffective, which could adversely affect our revenues, profitability, overall business prospects and results of operations — authorities in India may restrict, suspend or ban the use of specific ingredients or formulations or impose more stringent residue limits, thereby impacting the saleability of our products.
- Our cost of materials consumed constituted a majority of the total expenses incurred in financial year ended March 31, 2025, 2024 and 2023 — suppliers for the raw materials required for production and typically purchase raw materials on a purchase order basis and place such orders with them in advance on the basis of our anticipated…
- We are dependent on our distribution network for the sale of our products to our end customers — Pradesh, Telangana, Odisha, Assam and Madhya Pradesh.
- We depend on a few suppliers for supply of raw materials — Contribution of our top one supplier, top three suppliers, top five suppliers and top ten suppliers for financial year ended March 31, 2025, 2024 and 2023 to purchase material and stock is detailed…
- We typically do not enter into long-term agreements with our customers — customers, top five customers and top ten customers for financial year ended March 31, 2025, 2024 and 2023 to revenue from operations is detailed below: Top 1 Customer (%) 5.49% 8.34% 13.68% Top 3…
- Our inability to collect receivables in time or at all, and any default in payment from our clients, could materially and adversely affect our business — may have insufficient assets to pay the amounts owed to us even if such proceedings are decided in our favour.
From the DRHP (strengths pages 186–187, risk factors pages 47–54). Headings shortened; the wording is the company’s. Not a recommendation.
Offer documents: DRHP (PDF) · RHP (PDF)
Track this issue
- Shivchem Agro IPO GMP today and trend
- Shivchem Agro IPO subscription status, day by day
- Shivchem Agro IPO allotment status and how to check
Frequently asked questions
When does the Shivchem Agro IPO open and close?
The issue is scheduled for 28 – 30 Sep 2026.
What is the Shivchem Agro IPO price band?
The price band is ₹59 – ₹62 per share with a lot size of 2,000 shares.
How big is the Shivchem Agro IPO?
The total issue size is ₹14.01 Cr.
When will Shivchem Agro list?
The tentative listing date is 6 Oct on the SME platform.
How do I apply for the Shivchem Agro 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), Shivchem Agro · as filed with SEBI · bsesme.com
- Red herring prospectus (RHP), Shivchem Agro · as filed · bsesme.com
- Registrar allotment page, Maashitla Securities Pvt.Ltd. · allotment 1 Oct · maashitla.com
- BSE SME issues page · listing 6 Oct · bsesme.com
- Shivchem Agro company website · shivchemagro.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 6 Oct, 04:07 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Shivchem Agro IPO”, https://buyunlistedshares.com/ipo/shivchem-agro-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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