Shivchem Agro IPO
Shivchem Agro IPO is a SME issue of ₹14.01 Cr (Fresh capital only). The price band is ₹59–62 per share with a lot of 2,000 shares (₹1,24,000 minimum). Bidding runs 28–30 Sep, allotment is on 1 Oct 2026 and listing on 6 Oct 2026 on BSE SME. The issue has been subscribed 2.14x overall. It listed at ₹62 (0.00% over the issue price) and trades at ₹48 (-22.58%).
IPO details
| Detail | Value |
|---|---|
| Price band | ₹59–62 |
| Lot size | 2,000 shares |
| Minimum investment | ₹1,24,000 |
| Issue size | ₹14.01 Cr |
| Issue type | Fresh capital only |
| Face value | ₹5 per share |
| Listing on | BSE SME |
| Issue price | ₹62 |
Subscription status
| Category | Subscribed |
|---|---|
| Qualified institutions (QIB) | 1.00x |
| Non-institutional (NII) | 1.00x |
| Retail | 3.50x |
| Employees | 0.00x |
| Shareholders | 0.00x |
Updated 03 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 | 2,000 | ₹1,24,000 |
| Retail (Max) | 1 | 2,000 | ₹1,24,000 |
| HNI (Min) | 2 | 4,000 | ₹2,48,000 |
About Shivchem Agro
Shivchem Agro Limited was started in September 2021. It is an agrochemical company that makes, stocks, distributes and sells crop protection products for farmers. Its range covers insecticides, fungicides, herbicides, plant growth regulators, rodenticides and fertilizers. As on the date of its Red Herring Prospectus it was licensed to make 176 agrochemical products, including 88 insecticides, 40 fungicides, 37 herbicides, 8 plant growth regulators and 3 rodenticides. It also holds authorisation to make 82 fertilizers, of which it currently makes 8. It is licensed to sell across eight states, and as on 31 March 2026 it had 685 distributors supported by five godowns. Its manufacturing facility at Jhajjar in Haryana has an effluent treatment plant and a wet scrubber unit to handle wastewater and air emissions, and the company holds ISO 9001:2015 and ISO 22000:2018 certification.
Shivchem Agro financials
| ₹ crore | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 45.04 | 36.29 | 16.41 |
| Total Income | 33.84 | 27.50 | 10.95 |
| Profit After Tax | 3.25 | 2.60 | 1.29 |
| EBITDA | 5.98 | 4.32 | 1.93 |
| NET Worth | 12.92 | 9.67 | 1.50 |
| Reserves and Surplus | 10.28 | 7.04 | 1.45 |
| Total Borrowing | 7.28 | 8.26 | 7.10 |
Key ratios
| Ratio | Value |
|---|---|
| P/E Ratio | 14.39 |
| EPS (₹) | 4.31 |
| RoE | 28.76% |
| RoCE | 30.04% |
| RoNW | 28.76% |
| PAT Margin | 9.61% |
| EBITDA Margin | 17.69% |
| Debt / Equity | 0.56 |
| NAV (₹) | 24.50 |
Strengths
- Sales have tripled in two years, from Rs 10.95 crore in FY2024 to Rs 27.50 crore in FY2025 and Rs 33.84 crore in FY2026.
- Profit has grown from Rs 1.29 crore in FY2024 to Rs 2.60 crore in FY2025 and Rs 3.25 crore in FY2026.
- Return ratios are strong, with RoCE of 30.04% and RoNW of 28.76%.
- The issue is priced at about 14.39 times earnings on an EPS of Rs 4.31.
- Holding licences for 176 products gives it room to widen its range without waiting for fresh approvals.
- The distribution network of 685 distributors across eight states is substantial for a company of this age.
- The plant has its own effluent treatment and wet scrubber units, which matters for staying compliant in a chemical business.
- Net worth has grown from Rs 1.50 crore in FY2024 to Rs 12.92 crore in FY2026.
Risks
- The company is very young, having been started only in September 2021, so it has under five years of history.
- This is a very small issue of Rs 14.01 crore and a small company, with a net worth of Rs 12.92 crore.
- Agrochemical demand depends on the monsoon and on the farming season. A poor season cuts sales and leaves stock with distributors.
- Agrochemical makers usually give long credit to distributors, which blocks working capital, and Rs 6.90 crore of the issue goes to working capital.
- The market is crowded with large national and multinational companies that have stronger brands with farmers.
- Chemical manufacturing carries pollution and regulatory risk, and product registrations can be withdrawn or restricted.
- Promoter holding will come down from 92.73% to 64.91% after the issue.
- This is an SME issue. One lot is 2,000 shares, which is about Rs 1.24 lakh at the upper band of Rs 62, and SME shares usually trade in low volume after listing.
Allotment status
Registrar: Maashitla Securities Private Limited. Check Shivchem Agro IPO allotment status.
FAQs
What is the price band of Shivchem Agro IPO?
₹59–62 per share.
What is the lot size of Shivchem Agro IPO?
2,000 shares, which costs ₹1,24,000 at the upper price band.
What is the GMP of Shivchem Agro IPO?
₹1.50 (+2.42%) as of 06 Oct 2026, 08:24 AM IST. GMP is unofficial and not a prediction of the listing price.
When does Shivchem Agro IPO open and close?
It opens on 28 Sep 2026 and closes on 30 Sep 2026.
When is the allotment date of Shivchem Agro IPO?
1 Oct 2026.
When will Shivchem Agro IPO list?
6 Oct 2026 on BSE SME.
How many times was Shivchem Agro IPO subscribed?
2.14x overall.