Shah Investor's Home IPO
Shah Investor's Home IPO is a mainboard issue of ₹90.17 Cr (Fresh capital only). The price band is ₹159–167 per share with a lot of 85 shares (₹14,195 minimum). Bidding runs 28–30 Sep, allotment is on 1 Oct 2026 and listing on 6 Oct 2026 on BSE, NSE. The issue has been subscribed 38.12x overall. It listed at ₹171 (+2.40% over the issue price) and trades at ₹140.90 (-15.63%).
IPO details
| Detail | Value |
|---|---|
| Price band | ₹159–167 |
| Lot size | 85 shares |
| Minimum investment | ₹14,195 |
| Issue size | ₹90.17 Cr |
| Issue type | Fresh capital only |
| Face value | ₹10 per share |
| Listing on | BSE, NSE |
| Issue price | ₹167 |
Subscription status
| Category | Subscribed |
|---|---|
| Qualified institutions (QIB) | 28.05x |
| Non-institutional (NII) | 95.54x |
| Retail | 19.26x |
| Employees | 0.00x |
| Shareholders | 0.00x |
Updated 06 Oct 2026, 06:30 PM IST
IPO dates
| Event | Date |
|---|---|
| Bidding opens | 28 Sep 2026 |
| Bidding closes | 30 Sep 2026 |
| Allotment | 1 Oct 2026 |
| Refunds | 5 Oct 2026 |
| Shares credited to demat | 5 Oct 2026 |
| Listing | 6 Oct 2026 |
Lot size and application amounts
| 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 |
| B-HNI (Min) | 71 | 6,035 | ₹10,07,845 |
About Shah Investor's Home
Shah Investor's Home Limited was started in October 1994 and has more than three decades in the securities market. It is a retail broking company, meaning it helps individual investors buy and sell shares, IPOs and other securities, for both resident and non-resident Indians. Its main business is equity and derivatives broking. Alongside that it distributes mutual funds, provides margin funding, which is lending to clients so they can buy more shares than their own cash allows, and runs stock lending and borrowing services, all under the brand name Shah Investors. As on 31 March 2026 it had served more than 1,00,000 demat accounts, with over 38,000 active clients and a network of more than 181 authorised persons, who are sub-brokers working under its licence. It operates 11 branches across Mumbai, Ahmedabad, Vadodara, Junagadh, Gandhinagar and Rajkot, and most of its customers are in Gujarat and Maharashtra.
Shah Investor's Home financials
| ₹ crore | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 304.44 | 302.57 | 298.76 |
| Total Income | 72.40 | 94.47 | 79.05 |
| Profit After Tax | 13.11 | 23.42 | 18.05 |
| EBITDA | 21.62 | 35.31 | 25.13 |
| NET Worth | 179.71 | 168.09 | 150.54 |
| Reserves and Surplus | 163.95 | 152.34 | 134.79 |
| Total Borrowing | 18.47 | 5.71 | 3.54 |
Key ratios
| Ratio | Value |
|---|---|
| P/E Ratio | 26.94 |
| EPS (₹) | 6.20 |
| RoE | 7.59% |
| RoCE | 10.61% |
| RoNW | 7.35% |
| PAT Margin | 18.24% |
| EBITDA Margin | 30.24% |
| Debt / Equity | 0.10 |
| NAV (₹) | 114.07 |
Strengths
- The company has a very long record, having started in October 1994, which is more than 30 years in broking.
- It has served more than 1,00,000 demat accounts, with over 38,000 active clients as on 31 March 2026.
- The authorised person network of more than 181 sub-brokers lets it reach clients without opening a branch for each one.
- It earns from several lines, including broking, mutual fund distribution, margin funding and securities lending, rather than from trading commission alone.
- The margin is healthy, with a PAT margin of 18.24%.
- Debt is low at Rs 18.47 crore against a net worth of Rs 179.71 crore.
- Net worth has grown steadily, from Rs 150.54 crore in FY2024 to Rs 179.71 crore in FY2026.
- The whole issue is fresh capital with no offer for sale.
Risks
- Profit fell sharply in the latest year. Profit after tax dropped 44% from Rs 23.42 crore in FY2025 to Rs 13.11 crore in FY2026, and total income fell from Rs 94.47 crore to Rs 72.40 crore.
- The issue is priced at about 26.94 times earnings on an EPS of Rs 6.20, which is high for a business whose profit has just fallen by almost half.
- Return ratios are weak, with RoNW of only 7.35% and RoCE of 10.61%.
- Broking income depends directly on market activity. When trading volumes fall, as they did in FY2026, revenue falls with them and costs stay.
- Discount brokers and large app-based platforms have pushed commissions down sharply, and a traditional branch based broker competes on a higher cost base.
- Rs 60 crore of the issue goes into working capital, which in a broker largely means funding client margin loans, and those carry credit risk if markets fall suddenly.
- Borrowing more than tripled in one year, from Rs 5.71 crore to Rs 18.47 crore.
- The business is concentrated in Gujarat and Maharashtra, and SEBI rules on broking, margin and derivatives change often and affect earnings directly.
Allotment status
Registrar: MUFG Intime India Private Limited. Check Shah Investor's Home IPO allotment status.
FAQs
What is the price band of Shah Investor's Home IPO?
₹159–167 per share.
What is the lot size of Shah Investor's Home IPO?
85 shares, which costs ₹14,195 at the upper price band.
What is the GMP of Shah Investor's Home IPO?
₹17 (+10.18%) as of 06 Oct 2026, 08:24 AM IST. GMP is unofficial and not a prediction of the listing price.
When does Shah Investor's Home IPO open and close?
It opens on 28 Sep 2026 and closes on 30 Sep 2026.
When is the allotment date of Shah Investor's Home IPO?
1 Oct 2026.
When will Shah Investor's Home IPO list?
6 Oct 2026 on BSE, NSE.
How many times was Shah Investor's Home IPO subscribed?
38.12x overall.