Shivchem Agro IPO is an SME Book Built public issue by Shivchem Agro Limited. The public issue consists of a fresh issue of 22,60,000 equity shares aggregating up to ₹14.01 crore, with no Offer for Sale. The equity shares are proposed to be listed on the BSE SME platform.
Shivchem Agro Limited is an agrochemical company engaged in the manufacturing, stocking, distribution and sale of agricultural formulations. Its product portfolio includes insecticides, fungicides, herbicides, plant growth regulators, rodenticides and fertilizers. The company operates a manufacturing facility in Jhajjar, Haryana and serves customers through a distribution-led business model.
The company was incorporated in 2021 and has developed a network of distributors and storage facilities across its operating markets. Its manufacturing facility has an installed capacity for producing agricultural formulations, while its product portfolio is supported by regulatory licences and registrations for various agrochemical products.
The company proposes to use the IPO proceeds primarily for funding working capital requirements, repayment or prepayment of certain loans, and general corporate purposes. The issue is scheduled to open on 28 September 2026 and close on 30 September 2026.
Table of Contents
Shivchem Agro Limited IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Shivchem Agro IPO |
| Company Name | Shivchem Agro Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹5 Per Equity Share |
| Price Band | ₹59 to ₹62 Per Share |
| Issue Size | ₹14.01 Crore |
| Fresh Issue | 22,60,000 Equity Shares |
| 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 SME |
| Lot Size | 2,000 Equity Shares |
| Minimum Application | 4,000 Equity Shares |
| Registrar | Maashitla Securities Private Limited |
| Book Running Lead Manager | Shannon Advisors Private Limited |
The minimum application is 4,000 shares, equivalent to two lots, because the SME issue requires a minimum application amount above ₹2 lakh. At the upper price band of ₹62, the minimum application amount is ₹2,48,000.
Shivchem Agro 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 |
The IPO is scheduled to open for subscription on 28 September 2026 and close on 30 September 2026. The basis of allotment is scheduled for 1 October 2026, followed by refunds and demat credit on 5 October 2026 and listing on 6 October 2026.
Shivchem Agro IPO GMP
Grey Market Premium (GMP) represents the unofficial premium at which an IPO is reportedly traded in the grey market before listing. GMP is not regulated by SEBI or the stock exchanges and can change frequently.
| GMP Date | GMP | Sub2 | Kostak |
|---|---|---|---|
| 23 September 2026 | ₹0 | 0 | 0 |
| 24 September 2026 | ₹0 | 0 | 0 |
The available GMP data currently shows ₹0. GMP is an unofficial market indicator and should not be treated as a guaranteed listing price or return.
Shivchem Agro IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | 50% |
| Non-Institutional Investors (NII) | 15% |
| Retail Individual Investors (RII) | 35% |
| Market Maker | 1,14,000 Shares |
The IPO follows the SME allocation structure with portions reserved for QIBs, NIIs and retail investors. The issue also includes shares reserved for the market maker.
Shivchem Agro IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual Investor Minimum | 2 Lots | 4,000 | ₹2,48,000 |
| Individual Investor Maximum | 2 Lots | 4,000 | ₹2,48,000 |
| S-HNI Minimum | 3 Lots | 6,000 | ₹3,72,000 |
| S-HNI Maximum | 8 Lots | 16,000 | ₹9,92,000 |
| B-HNI Minimum | 9 Lots | 18,000 | ₹11,16,000 |
The calculations above use the upper price band of ₹62 per share. The lot size is 2,000 shares, while the minimum application is 4,000 shares or two lots.
About Shivchem Agro Limited
Shivchem Agro Limited was incorporated in 2021 and operates in the agrochemical industry. The company is engaged in manufacturing, stocking, distribution and sale of agricultural formulations used for crop protection and plant nutrition.
Its product portfolio includes insecticides, fungicides, herbicides, plant growth regulators, rodenticides and fertilizers. The company manufactures formulations in solid and liquid forms and supplies its products through its distribution network.
The company operates a manufacturing facility in Jhajjar, Haryana. It has developed a distribution-led business model supported by distributors, storage facilities and a sales team. As of 31 March 2026, the company had 685 distributors across eight states, five godowns and 66 permanent employees according to current IPO disclosures.
Business Operations
Shivchem Agro operates across the following business activities:
- Insecticides: The company manufactures and distributes insecticide formulations used for crop protection against various insects and pests.
- Fungicides: Its product portfolio includes fungicides designed to protect crops against fungal diseases.
- Herbicides: The company offers herbicide formulations used for weed management in agricultural crops.
- Plant Growth Regulators: The company supplies formulations intended to support plant growth and crop development.
- Rodenticides: Its product range also includes rodent-control formulations.
- Fertilizers: The company distributes fertilizers and plant-nutrition products to agricultural customers.
Industry Overview
India has a large agricultural base and agrochemicals play an important role in crop protection and agricultural productivity. Demand for insecticides, fungicides, herbicides, fertilizers and other crop-protection products is influenced by crop acreage, weather conditions, pest activity, farm incomes and agricultural practices.
The agrochemical industry is competitive and subject to regulatory requirements. Manufacturers also face fluctuations in raw material prices, seasonal demand and changes in agricultural conditions.
Business Strategy
Shivchem Agro focuses on expanding its product portfolio, strengthening its distribution network and improving manufacturing capabilities.
The company intends to use a portion of the IPO proceeds for working capital requirements, which will support its operating cycle and inventory needs. It also proposes to reduce outstanding borrowings through repayment or prepayment of certain loans.
The company aims to expand its market presence through distributors, product demonstrations, sales activities and wider availability of its agricultural formulations.
Shivchem Agro IPO Financial Information
A company’s financial performance provides insights into revenue growth, profitability, asset growth and financial position. Reviewing financial performance over multiple years helps investors understand the company’s operating trends.
Shivchem Agro Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Total Income | ₹10.95 Crore | ₹27.50 Crore | ₹33.84 Crore |
| Profit After Tax (PAT) | ₹1.29 Crore | ₹2.60 Crore | ₹3.25 Crore |
| EBITDA | ₹1.93 Crore | ₹4.32 Crore | ₹5.98 Crore |
| Net Worth | ₹1.50 Crore | ₹9.67 Crore | ₹12.92 Crore |
| Total Assets | ₹16.41 Crore | ₹36.29 Crore | ₹45.04 Crore |
| Total Borrowings | ₹7.10 Crore | ₹8.26 Crore | ₹7.28 Crore |
| Reserves & Surplus | ₹1.45 Crore | ₹7.04 Crore | ₹10.28 Crore |
Shivchem Agro reported growth in total income from ₹10.95 crore in FY2024 to ₹33.84 crore in FY2026. PAT increased from ₹1.29 crore to ₹3.25 crore during the same period. Net worth also increased from ₹1.50 crore in FY2024 to ₹12.92 crore in FY2026.
Shivchem Agro IPO Key Performance Indicators (KPIs)
Key Performance Indicators help assess profitability, returns, margins and leverage.
| KPI | FY2026 |
|---|---|
| Return on Equity (ROE) | 28.76% |
| Return on Capital Employed (ROCE) | 30.04% |
| Return on Net Worth (RONW) | 28.76% |
| PAT Margin | 9.61% |
| EBITDA Margin | 17.67% |
| Debt-to-Equity Ratio | 0.56 |
| Earnings Per Share (EPS) | ₹6.16 |
| NAV Per Share | ₹24.50 |
The FY2026 figures show ROE of 28.76%, ROCE of 30.04%, PAT margin of 9.61% and a debt-to-equity ratio of 0.56.
Shivchem Agro IPO Valuation
| Particular | Value |
|---|---|
| EPS | ₹6.16 |
| NAV Per Share | ₹24.50 |
| Price Band | ₹59 to ₹62 |
| P/E at ₹59 | 9.58x |
| P/E at ₹62 | 10.06x |
The valuation calculations are based on the FY2026 EPS of ₹6.16 and the IPO price band of ₹59 to ₹62 per share. Investors should compare the valuation with the company’s financial performance, peer companies, industry conditions and associated risks.
Objects of the Shivchem Agro IPO
The company proposes to utilise the net proceeds from the IPO for the following purposes:
- Working Capital Requirements: ₹6.90 crore is proposed to be used for funding the working capital requirements of the company.
- Repayment/Prepayment of Loans: ₹3.50 crore is proposed to be used for repayment or prepayment, in full or part, of certain loans availed by the company.
- General Corporate Purposes: The remaining proceeds are proposed to be used for general corporate purposes, subject to applicable regulations.
Shivchem Agro IPO Listing Performance
The listing performance reflects the market price of the company’s shares after listing. Since Shivchem Agro shares have not yet commenced trading, actual listing performance is not available.
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 6 October 2026 |
| Issue Price | ₹62 Per Share |
| Listing Price | To be updated |
| Listing Gain | To be updated |
| Listing Gain (%) | To be updated |
The listing price and listing performance will be available after the shares commence trading on the BSE SME platform.
Shivchem Agro IPO Subscription Status
The Shivchem Agro IPO is scheduled to open on 28 September 2026. Therefore, subscription data is not available before the issue opens.
Shivchem Agro 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 |
| Market Maker | To be updated |
| Total Subscription | To be updated |
The final subscription figures will be updated after bidding begins and will reflect participation from the different investor categories.
Shivchem Agro IPO Review
Shivchem Agro Limited operates in the agrochemical industry with a product portfolio covering insecticides, fungicides, herbicides, plant growth regulators, rodenticides and fertilizers. The company has established a manufacturing facility in Jhajjar, Haryana and a distribution network serving multiple states.
The company has reported growth in revenue and profitability over FY2024 to FY2026. Total income increased from ₹10.95 crore in FY2024 to ₹33.84 crore in FY2026, while PAT increased from ₹1.29 crore to ₹3.25 crore during the same period.
The company also has a growing distribution network. Current IPO disclosures indicate 685 distributors across eight states as of 31 March 2026, supported by five godowns and a sales team. Its manufacturing facility provides the company with in-house production capabilities for its agricultural formulations.
The IPO proceeds are intended to support working capital and reduce debt. ₹6.90 crore is proposed for working capital and ₹3.50 crore for repayment or prepayment of certain loans. This may help support the company’s operating requirements and financial structure.
However, the business is exposed to risks associated with raw material prices, weather conditions, agricultural cycles, regulatory requirements, competition and working-capital requirements. The company’s relatively small scale also makes execution and expansion important factors for future performance.
Investors should evaluate the company’s financial performance, product portfolio, distribution network, valuation, use of IPO proceeds, industry conditions and risk factors before making an investment decision.
Shivchem Agro IPO Strengths
- Diversified Product Portfolio: The company offers insecticides, fungicides, herbicides, plant growth regulators, rodenticides and fertilizers.
- Distribution Network: The company has developed a network of distributors across multiple Indian states.
- Manufacturing Facility: Shivchem Agro operates its own manufacturing facility in Jhajjar, Haryana.
- Revenue Growth: Total income increased from ₹10.95 crore in FY2024 to ₹33.84 crore in FY2026.
- Profit Growth: PAT increased from ₹1.29 crore in FY2024 to ₹3.25 crore in FY2026.
- Reduced Borrowings: Total borrowings declined from ₹8.26 crore in FY2025 to ₹7.28 crore in FY2026.
Shivchem Agro IPO Risk Factors
- Raw Material Price Risk: Changes in the cost and availability of raw materials can affect manufacturing costs and profitability.
- Weather Dependence: Demand for agrochemical products is influenced by rainfall, crop conditions, pest activity and other agricultural factors.
- Regulatory Requirements: The agrochemical industry is subject to product registrations, environmental regulations and other compliance requirements.
- Working Capital Requirements: The business requires working capital to maintain inventory and support credit periods offered to distributors.
- Competitive Industry: The company operates in a competitive agrochemical market with established manufacturers and distributors.
- Small Business Scale: Compared with larger agrochemical companies, Shivchem Agro operates at a relatively smaller scale and may face challenges in expanding its market presence.
Shivchem Agro IPO Promoters
The promoters of Shivchem Agro Limited are Rohit Agarwal, Sachin Agarwal and Deepa Agarwal.
Shivchem Agro IPO Promoters Details
- Rohit Agarwal – Promoter
- Sachin Agarwal – Promoter
- Deepa Agarwal – Promoter
Shivchem Agro IPO Management Team
The company is managed by its promoter group and a team responsible for manufacturing, sales, distribution, finance, compliance and business operations.
The promoters have experience in managing the company’s agrochemical business and its distribution activities. The management team focuses on product development, manufacturing, distribution expansion and customer relationships.
Shivchem Agro IPO Registrar Details
The registrar is responsible for processing IPO applications, finalising the basis of allotment, crediting shares to successful applicants, initiating refunds and handling investor-related IPO services.
| Particular | Details |
|---|---|
| Registrar Name | Maashitla Securities Private Limited |
| Address | 451, Krishna Apra Business Square, Netaji Subhash Place, Pitampura, New Delhi – 110034 |
| Website | https://maashitla.com |
| Email ID | [email protected] |
| Contact Number | 011-45121795 / 011-45121796 |
Maashitla Securities Private Limited is the registrar to the Shivchem Agro IPO.
Shivchem Agro IPO Lead Manager Details
The Book Running Lead Manager is responsible for managing the IPO process, coordinating regulatory requirements and assisting the company with the public issue.
| Particular | Details |
|---|---|
| Lead Manager | Shannon Advisors Private Limited |
| Address | 902, IX Floor, New Delhi House, 27, Barakhamba Road, Connaught Place, New Delhi – 110001 |
| Website | https://www.shannon.co.in |
| Contact Number | +91 11 42758011 |
Shannon Advisors Private Limited is identified as the Book Running Lead Manager to the Shivchem Agro IPO.
Shivchem Agro Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Shivchem Agro Limited |
| Registered Office | Unit No. 703, 704, Amba Tower, Plot No. 2, Community Centre, D.C Chowk, Sector-9, Rohini Sec-11, North West Delhi, New Delhi – 110085 |
| Website | https://www.shivchemagro.com |
| Email ID | [email protected] |
| Contact Number | +91 11 46008555 |
The above registered-office and contact details are disclosed in current IPO information.
How to Check Shivchem Agro 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 Maashitla Securities Private Limited
- Visit the official Maashitla IPO allotment portal.
- Select Shivchem Agro IPO from the available IPO list.
- Select PAN Number, Application Number or DP/Client ID.
- Enter the required details.
- Submit the information to check the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Shivchem Agro IPO.
- Enter the PAN Number or Application Number.
- Complete the required verification.
- Click Search to view the allotment status.
Shivchem Agro IPO Conclusion
Shivchem Agro IPO provides an opportunity to participate in the public issue of an agrochemical company engaged in manufacturing, distribution and sale of agricultural formulations.
The company has reported growth in total income and PAT over FY2024 to FY2026, while its business is supported by a diversified product portfolio, manufacturing facility and distribution network. The IPO proceeds are primarily intended for working capital requirements and repayment or prepayment of certain loans.
At the same time, investors should consider the company’s exposure to raw material prices, weather and agricultural cycles, regulatory requirements, competition, working-capital needs and its relatively small operating scale.
A detailed assessment of the company’s financial performance, IPO valuation, product portfolio, distribution network, use of IPO proceeds, industry outlook and risk factors can help investors evaluate the Shivchem Agro IPO according to their own investment objectives.
Shivchem Agro IPO FAQs
What is Shivchem Agro IPO?
Shivchem Agro IPO is an SME Book Built public issue of Shivchem Agro Limited. The IPO comprises a fresh issue of 22,60,000 equity shares aggregating up to ₹14.01 crore.
What is the price band of Shivchem Agro IPO?
The Shivchem Agro IPO price band is ₹59 to ₹62 per equity share.
What is the issue size of Shivchem Agro IPO?
The total issue size of Shivchem Agro IPO is ₹14.01 crore and it consists of a fresh issue of 22,60,000 equity shares.
When will Shivchem Agro IPO open?
The Shivchem Agro IPO will open for subscription on 28 September 2026.
When will Shivchem Agro IPO close?
The IPO will close for subscription on 30 September 2026.
What is the lot size of Shivchem Agro IPO?
The lot size is 2,000 equity shares. The minimum application is 4,000 shares, or two lots, at an application amount of ₹2,48,000 at the upper price band.
On which stock exchange will Shivchem Agro shares be listed?
Shivchem Agro shares are proposed to be listed on the BSE SME platform.
Who is the registrar for Shivchem Agro IPO?
Maashitla Securities Private Limited is the registrar to the Shivchem Agro IPO.
Who is the lead manager of Shivchem Agro IPO?
Shannon Advisors Private Limited is the Book Running Lead Manager to the Shivchem Agro IPO.
What does Shivchem Agro Limited do?
Shivchem Agro Limited is an agrochemical company engaged in the manufacturing, stocking, distribution and sale of agricultural formulations, including insecticides, fungicides, herbicides, plant growth regulators, rodenticides and fertilizers.
