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Shah Investor's Home IPOLISTED
Shah Investor’s Home Limited (SIHL) is a retail-focused financial services and securities broking company offering equity and derivatives broking, depository, margin trading and investment products.
Listing price
₹171
Listing gain
+2.40%
Current
₹171
Listed
06 Oct 26
Opens
28 Sept 26Closes
30 Sept 26Allotment
01 Oct 26Refund
05 Oct 26Demat
05 Oct 26Listing
06 Oct 26Listed at
₹171
+2.40% on 06 Oct 26
Overview
Price band
₹159-167
Lot size
85 shares
Min. investment
₹14,195
Issue size
₹90.17 Cr
53.99 L shares
Fresh issue
₹90.17 Cr
53.99 L shares
Face value
₹10 / share
Issue type
Book Built Issue
Listing at
NSE, BSE
Reservation
| Category | Shares offered | % of issue |
|---|---|---|
| Anchor Investor | 16,19,760 | 30% |
| QIB | 10,79,840 | 20% |
| NII (HNI) | 8,09,880 | 15% |
| B-HNI | 5,39,920 | 10% |
| S-HNI | 2,69,960 | 5% |
| Individual | 18,89,720 | 35% |
| Total | 53,99,200 | 100% |
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 85 | ₹14,195 |
| Retail (Max) | 14 | 1,190 | ₹1,98,730 |
| S-HNI (Min) | 15 | 1,275 | ₹2,12,925 |
| S-HNI (Max) | 70 | 5,950 | ₹9,93,650 |
| B-HNI (Min) | 71 | 6,035 | ₹10,07,845 |
Listing performance
NSE/BSE: SHAHINVESTORSHOMEListing gain
+2.40%
Gain per retail lot
₹340
Latest vs issue
—
GMP was
₹12 (+7.19%)
Issue price
GMP estimate
Listing price
Latest price appears here during market hours.
Shah Investor's Home Live GMP
Not enough GMP history yet to draw a trend.
Subscription
30 Sept, 06:50 pmOversubscribed 38.12 times · 4,19,545 applications
Total applications
4,19,545
Total bid amount
₹2,406 Cr
Category breakdown
| Category | Shares offered | Shares bid | Times | Bid amount |
|---|---|---|---|---|
| QIB | 10,79,840 | 3,02,89,750 | 28.05x | ₹506 Cr |
| NII (HNI) | 8,09,880 | 7,73,75,415 | 95.54x | ₹1,292 Cr |
| B-HNI | 5,39,920 | 5,67,72,435 | 105.15x | ₹948 Cr |
| S-HNI | 2,69,960 | 2,06,02,980 | 76.32x | ₹344 Cr |
| Retail | 18,89,720 | 3,63,94,875 | 19.26x | ₹608 Cr |
| Total | 37,79,440 | 14,40,60,040 | 38.12x | ₹2,406 Cr |
Application-wise breakup
| Category | Applications reserved | Applied | Times |
|---|---|---|---|
| B-HNI | 423 | 9,229 | 21.82x |
| S-HNI | 212 | 15,944 | 75.21x |
| Retail | 22,232 | 3,94,699 | 17.75x |
Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).
Financials
(₹ in crores)
Key performance indicators
As of 30 Jun 2026ROE
7.59%
PAT Margin
18.24%
ROCE
10.61%
EBITDA Margin
30.24%
Debt to Equity Ratio
0.1
Price to Book Value
1.46
RoNW
7.35%
Valuation vs listed peers
EPS Pre IPO
₹8.32
EPS Post IPO
₹6.2
P/E Pre IPO
20.07
P/E Post IPO
26.94
Price-to-earnings
| Company | P/E | P/B | RoNW | Face value |
|---|---|---|---|---|
| SMC Global Securities Limited | 16.28 | — | — | ₹2 |
| Share India Securities Limited | 11.68 | — | — | ₹2 |
| Arihant Capital Markets Limited | 27.08 | — | — | ₹1 |
Peer median P/E 16.3× · Ratios as disclosed in the offer document.
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
-8.4%
Profit growth FY24 → FY26
-27.4%
P/E vs peer median
26.9× vs 16.3×
- PAT margin 18.2% and ROCE 10.6%.
- Priced above its listed-peer median P/E.
Strengths & risks
- Established Track Record with 30+ years in broking.
- Diversified Services across broking, MTF, depository and distribution.
- Strong Client Base with long-standing client relationships.
- Digital Platforms including Moneymaker, Fundspro and ALGOFY.
- Wide Network of 181+ authorised persons and 11 branches.
Buzz score · Neutral
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Funding working capital requirements of the Company. | 60 |
| General Corporate Purposes. | - |
Company & documents
Shah Investor’s Home Limited (SIHL) is a retail-focused financial services company with over three decades of experience in the securities market. It primarily provides equity and derivatives broking, along with depository services, margin trading, mutual fund distribution and other financial products under the “Shah Investors” brand.
As of March 31, 2026, SIHL had 38,189 active clients, over 1,00,000 demat accounts and 181+ authorised persons, operating through 11 branches across Gujarat and Maharashtra. The Company began NSE operations in 1995 and became an NSDL depository participant in 1997.
Broking is SIHL’s primary business segment, covering equity, F&O, currency derivatives and commodities through NSE, BSE and MCX. Brokerage income stood at ₹4,630.20 lakh in FY2026, contributing 64.78% of revenue from operations.
The Company also offers margin trading, depository services and financial product distribution. Its MTF book stood at ₹2,096.26 lakh as of March 31, 2026, while it distributes mutual funds and third-party PMS products through online and offline channels.
Technology is an important part of SIHL’s operations, with SIHL Moneymaker for digital trading, SIHL Fundspro for mutual fund investments and ALGOFY, an API-powered algorithmic trading platform launched in FY2026. As of March 31, 2026, Moneymaker had 33,287+ downloads and 12,452 trading clients.
SIHL has a relationship-driven business model, with 27,728 active clients associated with the Company for over five years as of March 31, 2026, representing 72.61% of active clientele. The Company focuses on expanding its brokerage business, authorised-person and branch network, digital adoption, and reach across Tier 2 and Tier 3 cities.
As of July 31, 2026, SIHL had 167 permanent employees across trading, sales, IT, demat, compliance, research, accounts, MTF & SLB, helpdesk and other functions.
Registrar
MUFG Intime India Pvt. Ltd.
Phone: 022-49186000
Email: shahInvestors.ipo@in.mpms.mufg.com
Web: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
Company contact
Shah Investor's Home Ltd.
810, X-Change Plaza DSCCSL (53E), Road 5E Block 53, Zone 5, Gift City Gandhinagar, Gujarat, 382050
Phone: +91 9904053335
Email: company.secretary@sihl.in
Web: https://www.sihl.in/
Book running lead managers
- Beeline Capital Advisors Pvt. Ltd.
Promoters
- Upendra Trikamlal Shah
- Purnima Upendra Shah
- Tanmay Upendra Shah
- Trupti Utpal Shah
