Shah Investor’s Home IPO is a Mainboard Book Built public issue by Shah Investor’s Home Limited. The public issue consists entirely of a fresh issue of equity shares, with no Offer for Sale by existing shareholders. After completion of the IPO process, the company’s equity shares are proposed to be listed on both the BSE and NSE.
The objective of the fresh issue is to fund the company’s working capital requirements and meet general corporate purposes. Since the issue is a fresh issue, the net proceeds, after applicable issue expenses, will be available to the company for the stated purposes.
Shah Investor’s Home Limited is a retail-focused securities brokerage and financial services company operating under the Shah Investors brand. The company provides equity and derivatives brokerage services and also offers IPO investing, mutual fund distribution, margin funding, stock lending and borrowing services, and depository-related services.
The company has more than three decades of operating experience in the securities market. As of March 31, 2026, it had served more than 1,00,000 demat accounts, over 38,000 active clients, more than 181 authorised persons and operated through 11 branches across key locations in Gujarat and Maharashtra. The company also uses digital platforms to support trading and investment services.
Table of Contents
Shah Investor’s Home IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Shah Investor’s Home IPO |
| Company Name | Shah Investor’s Home Limited |
| IPO Type | Book Built Issue |
| IPO Category | Mainboard IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹159 to ₹167 Per Share |
| Issue Size | ₹90.17 Crore |
| Fresh Issue | ₹90.17 Crore |
| Offer for Sale | Nil |
| IPO Open Date | 28 September 2026 |
| IPO Close Date | 30 September 2026 |
| Anchor Investor Bidding | 25 September 2026 |
| Basis of Allotment | 1 October 2026 |
| Refund Initiation | 5 October 2026 |
| Shares Credited to Demat Account | 5 October 2026 |
| Listing Date | 6 October 2026 |
| Listing Exchange | BSE & NSE |
| Lot Size | 85 Equity Shares |
| Registrar | MUFG Intime India Private Limited |
| Book Running Lead Manager | Beeline Capital Advisors Private Limited |
The company plans to utilise the net proceeds from the fresh issue primarily for funding working capital requirements and general corporate purposes. The company has disclosed ₹60 crore towards working capital requirements, while the balance is proposed to be used for general corporate purposes.
Shah Investor’s Home IPO Dates
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | 25 September 2026 |
| IPO Opening Date | 28 September 2026 |
| IPO Closing Date | 30 September 2026 |
| Basis of Allotment | 1 October 2026 |
| Refund Initiation | 5 October 2026 |
| Shares Credited to Demat Account | 5 October 2026 |
| Listing Date | 6 October 2026 |
After the allotment process is completed, successful applicants will receive the allotted shares in their demat accounts before the company’s shares begin trading on the stock exchanges.
Shah Investor’s Home IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
The final allocation under each investor category will depend on the number of valid applications received during the IPO subscription period.
Shah Investor’s Home IPO Lot Size
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 1 Lot (85 Shares) | ₹14,195 |
| Retail Maximum | 14 Lots (1,190 Shares) | ₹1,98,730 |
| S-HNI Minimum | 15 Lots (1,275 Shares) | ₹2,12,925 |
| S-HNI Maximum | 70 Lots (5,950 Shares) | ₹9,93,650 |
| B-HNI Minimum | 71 Lots (6,035 Shares) | ₹10,07,845 |
The application values shown above are calculated using the upper price band of ₹167 per equity share.
About Shah Investor’s Home Limited
Shah Investor’s Home Limited was incorporated in 1994 and operates as a retail broking and financial services company. Its principal business includes equity and derivatives brokerage, with a focus on secondary-market services for retail customers, including resident and non-resident Indians.
The company provides multiple financial services under the Shah Investors brand. These include equity and derivatives trading, IPO investing, mutual fund distribution, margin funding, and stock lending and borrowing. The company has also expanded its technology capabilities through digital trading and investment platforms.
As of March 31, 2026, Shah Investor’s Home had served more than 1,00,000 demat accounts and had over 38,000 active clients. Its distribution network included more than 181 authorised persons and 11 branches located across Mumbai, Ahmedabad, Vadodara, Junagadh, Gandhinagar and Rajkot.
The company has a long operating history in India’s securities market. It registered as a Trading Member with NSE in 1995 and as a Depository Participant with NSDL in 1997. It subsequently expanded into mutual fund distribution, stock lending and borrowing, commodity market activities and technology-enabled investment services.
Business Operations
Shah Investor’s Home Limited operates through a diversified financial services model.
- Equity & Derivatives Brokerage: The company facilitates buying and selling of equities and derivatives for retail and other customers.
- IPO Services: The company provides customers with access to primary-market investment opportunities.
- Mutual Fund Distribution: The company distributes mutual fund products and supports investors through digital and assisted channels.
- Margin Funding: The company provides margin funding facilities as part of its financial services portfolio.
- Stock Lending & Borrowing: The company offers securities lending and borrowing services under its broader capital-market operations.
- Depository Services: The company provides demat-related services to investors through its depository participant operations.
- Digital Platforms: The company uses technology platforms such as Moneymaker and FundsPro to provide online trading and investment services.
Industry Overview
India’s securities and financial services industry has expanded with increasing retail participation, growth in demat accounts, greater digital adoption and wider access to equity and investment products. The growth of online trading platforms and technology-enabled financial services has also increased competition among brokerage firms.
Retail broking companies operate in a highly regulated environment and are influenced by trading activity, market participation, customer acquisition, technology adoption, pricing competition and regulatory requirements. Companies with established distribution networks and diversified financial products can serve multiple investment needs across their customer base.
Business Strategy
Shah Investor’s Home Limited focuses on expanding its brokerage business and geographical presence through its authorised person and branch network. The company also intends to continue investing in technology and innovation to improve customer experience and operational efficiency.
The company aims to strengthen fee-based revenue, expand its customer reach, enhance digital services and provide access to additional investment opportunities. Its strategy also includes using technology to support trading and investment services and expanding the range of products available to its customers.
Shah Investor’s Home IPO Financial Information
A company’s financial performance provides valuable insights into its revenue growth, profitability, operational efficiency, and financial stability. Reviewing financial statements over multiple years helps investors understand how the business has performed and how effectively it has generated earnings from its operations.
Shah Investor’s Home Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from Operations | ₹77.82 Crore | ₹94.27 Crore | ₹71.48 Crore |
| Total Income | ₹79.05 Crore | ₹94.47 Crore | ₹72.40 Crore |
| EBITDA | ₹25.13 Crore | ₹35.31 Crore | ₹21.62 Crore |
| Profit Before Tax (PBT) | ₹24.01 Crore | ₹31.40 Crore | ₹18.31 Crore |
| Profit After Tax (PAT) | ₹18.05 Crore | ₹23.42 Crore | ₹13.11 Crore |
| Net Worth | ₹150.54 Crore | ₹168.09 Crore | ₹179.71 Crore |
| Total Borrowings | ₹3.54 Crore | ₹5.71 Crore | ₹18.47 Crore |
The company recorded growth in revenue and profitability between FY2024 and FY2025, while FY2026 reported a decline in revenue and profit compared with FY2025. Revenue from operations declined from ₹94.27 crore in FY2025 to ₹71.48 crore in FY2026, while PAT declined from ₹23.42 crore to ₹13.11 crore.
The FY2026 decline was mainly associated with lower fee and commission income, which remained the company’s major operating revenue component. Net worth increased during the period, while borrowings also increased in FY2026. Investors should evaluate these financial trends together with the company’s business strategy, market conditions and IPO valuation.
Shah Investor’s Home IPO Key Performance Indicators (KPIs)
Key Performance Indicators help investors assess the company’s profitability, operational efficiency, financial strength, and capital utilisation. These financial ratios provide additional insights into the company’s overall business performance.
| KPI | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Return on Equity (ROE) | 13.38% | 14.68% | 7.59% |
| Return on Capital Employed (ROCE) | 16.77% | 20.35% | 10.61% |
| Return on Net Worth (RONW) | 11.91% | 13.91% | 7.35% |
| EBITDA Margin | 32.29% | 37.46% | 30.24% |
| PAT Margin | 22.69% | 24.76% | 18.24% |
| Debt-to-Equity Ratio | 0.02 | 0.03 | 0.10 |
| Earnings Per Share (EPS) | ₹11.38 | ₹14.84 | ₹8.38 |
| Net Asset Value (NAV) Per Share | ₹95.56 | ₹106.70 | ₹114.07 |
Shah Investor’s Home IPO Valuation
| Particular | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹8.38 | ₹6.24 |
| P/E at ₹159 | 18.97x | 25.48x |
| P/E at ₹167 | 19.93x | 26.76x |
| NAV Per Share | ₹114.07 | — |
The company’s FY2026 profitability and return ratios were lower than FY2025 levels. The debt-to-equity ratio remained relatively low, although it increased from 0.03 in FY2025 to 0.10 in FY2026. Investors should analyse the valuation alongside earnings, NAV, peer financial metrics and the risks disclosed in the offer documents.
Objects of the Shah Investor’s Home IPO
The company intends to utilise the net proceeds from the fresh issue for the following purposes:
- Funding Working Capital Requirements: ₹60 crore has been earmarked towards the company’s working capital requirements.
- General Corporate Purposes: The remaining net proceeds are proposed to be utilised for general corporate purposes, subject to applicable regulations and the company’s business requirements.
As the issue consists entirely of a fresh issue, the proceeds are intended for the company and there is no Offer for Sale component through which existing shareholders receive proceeds.
Shah Investor’s Home IPO Listing Performance
The listing performance reflects how the company’s shares perform on the stock exchanges after the IPO. Since Shah Investor’s Home shares have not yet commenced trading, listing performance figures are currently not available.
| Particular | Value |
|---|---|
| Listing Exchange | BSE & NSE |
| Listing Date | 6 October 2026 |
| Issue Price | ₹167 Per Share |
| Listing Price | To be updated |
| Listing Gain | To be updated |
| Listing Gain (%) | To be updated |
The listing performance will be available after the company’s shares commence trading on the stock exchanges. Investors should evaluate the company’s financial performance, business model, valuation and long-term operating performance along with any initial market movement.
Shah Investor’s Home IPO Subscription Status
The subscription figures indicate the level of investor participation received during the IPO bidding period. The Shah Investor’s Home IPO is scheduled to open on 28 September 2026 and subscription data will become available after bidding begins.
Shah Investor’s Home IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | To be updated |
| Non-Institutional Investors (NII) | To be updated |
| Retail Individual Investors (RII) | To be updated |
| Employee Category | To be updated |
| Total Subscription | To be updated |
The final subscription figures will be available after the IPO closes. They will provide an indication of investor participation across various categories.
Shah Investor’s Home IPO Review
Shah Investor’s Home Limited is an established retail-focused brokerage and financial services company with more than three decades of operating experience. Its business includes equity and derivatives brokerage along with mutual fund distribution, IPO services, margin funding, stock lending and borrowing, and depository services.
The company has developed a sizeable customer and distribution network, supported by more than 1,00,000 demat accounts, over 38,000 active clients, more than 181 authorised persons and 11 branches as of March 31, 2026. Its technology platforms provide additional digital access to trading and investment services.
The company’s financial performance shows revenue and PAT growth in FY2025 compared with FY2024, followed by a decline in FY2026. Revenue from operations fell to ₹71.48 crore in FY2026 from ₹94.27 crore in FY2025, while PAT declined to ₹13.11 crore from ₹23.42 crore. This makes the trend in brokerage and fee income an important factor to monitor.
The company also operates in a highly regulated financial services environment. Dependence on broking revenue, concentration of broking revenue in Gujarat, reliance on authorised persons, regulatory compliance and competition in the brokerage industry are among the factors investors should consider.
Overall, investors should carefully evaluate Shah Investor’s Home’s financial performance, valuation, business concentration, technology strategy, regulatory environment and future growth plans before making an investment decision.
Shah Investor’s Home IPO Strengths
- Established Operating History: The company has been operating in the securities market since 1994 and has more than three decades of industry experience.
- Established Retail Client Base: The company has served more than 1,00,000 demat accounts and has a significant active-client base.
- Wide Distribution Network: The company operates through branches and a large network of authorised persons across key markets.
- Diversified Financial Services: Its offerings include equity and derivatives brokerage, IPOs, mutual funds, margin funding, depository services and stock lending and borrowing.
- Technology-Enabled Operations: Digital platforms support online trading and investment services and form part of the company’s growth strategy.
Shah Investor’s Home IPO Risk Factors
- Dependence on Broking Revenue: A significant portion of the company’s revenue is generated from its broking activities, making financial performance sensitive to trading activity and brokerage income.
- Geographical Concentration: A substantial proportion of broking revenue is generated from Gujarat, creating exposure to regional market conditions.
- Regulatory and Compliance Requirements: The company operates under extensive securities-market regulations, and regulatory changes or compliance failures could affect its operations.
- Dependence on Authorised Persons: The company relies on its authorised-person network for customer reach and business expansion. Loss of significant authorised persons could affect operations.
- Competitive Industry: The brokerage market is competitive, with traditional and digital brokers competing on pricing, technology, products and customer service.
Shah Investor’s Home IPO Promoters
Shah Investor’s Home Limited has been promoted by Upendra Trikamlal Shah, Purnima Upendra Shah, Tanmay Upendra Shah and Trupti Utpal Shah. The promoters have been associated with the company and its development in the securities and financial services industry.
Shah Investor’s Home IPO Promoters Details
| Promoter | Designation |
|---|---|
| Upendra Trikamlal Shah | Promoter |
| Purnima Upendra Shah | Promoter |
| Tanmay Upendra Shah | Promoter |
| Trupti Utpal Shah | Promoter |
Shah Investor’s Home IPO Management Team
The company is led by a management team with experience in financial services, securities-market operations, technology, business development and compliance. The leadership team is responsible for managing brokerage operations, customer services, technology platforms and the company’s broader growth strategy.
| Name | Designation |
|---|---|
| Upendra Trikamlal Shah | Chairman & Whole-time Director |
| Purnima Upendra Shah | Whole-time Director |
| Tanmay Upendra Shah | Managing Director & Chief Financial Officer |
| Trupti Utpal Shah | Whole-time Director |
Shah Investor’s Home IPO Registrar Details
The registrar is responsible for processing IPO applications, finalising the basis of allotment, crediting equity shares to successful applicants, initiating refunds, and handling investor-related services.
| Particular | Details |
|---|---|
| Registrar Name | MUFG Intime India Private Limited |
| Website | https://in.mpms.mufg.com/ |
| IPO Allotment Status | MUFG Intime IPO Allotment Portal |
| Email ID | [email protected] |
| Contact Number | +91 8108114949 |
Shah Investor’s Home IPO Lead Manager Details
The Book Running Lead Manager is responsible for managing the IPO process, coordinating regulatory compliance, and assisting the company throughout the public issue.
| Particular | Details |
|---|---|
| Lead Manager | Beeline Capital Advisors Private Limited |
| Contact Person | Nikhil Shah |
| Email ID | [email protected] |
| Contact Number | +91 79 4918 5784 |
Shah Investor’s Home Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Shah Investor’s Home Limited |
| Registered Office | 810, X-Change Plaza, DSCCSL (53E), Road 5E, Block 53, Zone 5, Gift City, Gandhinagar – 382050, Gujarat |
| Corporate Office | SIHL House, Opp. Ambawadi Jain Temple, Nehru Nagar Cross Road, Ahmedabad – 380015, Gujarat |
| Website | https://www.sihl.in/ |
| Email ID | [email protected] |
| Contact Number | +91 9904053335 |
How to Check Shah Investor’s Home IPO Allotment Status
Investors can check the IPO allotment status after the basis of allotment is finalised through the registrar’s website or the BSE IPO portal.
Through MUFG Intime India Private Limited
- Visit the official MUFG Intime IPO allotment portal.
- Select Shah Investor’s Home IPO from the IPO list.
- Choose PAN Number, Application Number, or DP/Client ID.
- Enter the required details.
- Click Submit to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Shah Investor’s Home IPO from the list of IPOs.
- Enter your PAN Number or Application Number.
- Complete the verification process if required.
- Click Search to view the allotment result.
Shah Investor’s Home IPO Conclusion
Shah Investor’s Home IPO provides investors with an opportunity to participate in the public issue of an established retail brokerage and financial services company with more than three decades of operating experience. The company has a sizeable client base, an authorised-person network, branch presence and multiple financial services.
The company has demonstrated growth in FY2025 but reported lower revenue and profitability in FY2026. Investors should therefore closely examine the company’s recent earnings performance, brokerage revenue concentration, geographical concentration, regulatory environment and dependence on authorised persons.
A detailed assessment of the company’s financial performance, IPO valuation, business model, competitive environment, risk factors and future expansion strategy can help investors evaluate the Shah Investor’s Home IPO according to their own investment objectives.
Shah Investor’s Home IPO FAQs
What is Shah Investor’s Home IPO?
Shah Investor’s Home IPO is the Mainboard public issue of Shah Investor’s Home Limited. The IPO comprises a fresh issue of up to 53,99,200 equity shares and is proposed to be listed on BSE and NSE.
What is the price band of Shah Investor’s Home IPO?
The IPO price band is ₹159 to ₹167 per equity share.
What is the issue size of Shah Investor’s Home IPO?
The total issue size is up to ₹90.17 crore and consists entirely of a fresh issue of equity shares.
When will the Shah Investor’s Home IPO open?
The IPO will open for subscription on 28 September 2026.
When will the Shah Investor’s Home IPO close?
The IPO will close for subscription on 30 September 2026.
On which stock exchanges will Shah Investor’s Home shares be listed?
The company’s equity shares are proposed to be listed on both BSE and NSE.
Who is the registrar for the Shah Investor’s Home IPO?
MUFG Intime India Private Limited is the registrar to the Shah Investor’s Home IPO.
What is the face value of Shah Investor’s Home IPO shares?
The face value of each equity share is ₹10.
What does Shah Investor’s Home Limited do?
Shah Investor’s Home Limited is a retail-focused brokerage and financial services company offering equity and derivatives brokerage, IPO services, mutual fund distribution, margin funding, stock lending and borrowing, and depository-related services.
What are the objects of the Shah Investor’s Home IPO?
The company intends to utilise the net proceeds from the fresh issue primarily for funding working capital requirements, including ₹60 crore earmarked for working capital, and for general corporate purposes.
