Shivchem Agro IPO Shares List Flat at ₹62 on BSE SME

Shivchem Agro shares made their stock market debut on October 6, 2026, on BSE SME at ₹62 per share, compared with the IPO issue price of ₹62 per share.

Following the listing, the available market snapshot showed the stock trading at ₹62 per share, unchanged from its issue price.

The listing followed the company's ₹14.01 crore IPO, which was open for subscription from September 28 to September 30, 2026. The issue consisted entirely of a fresh issue of 22.60 lakh shares and carried a price band of ₹59 to ₹62 per share.

The IPO was subscribed 2.14 times overall. Individual Investors subscribed their portion 3.50 times, while the QIB and NII portions were subscribed 1.00 time each.

Shivchem Agro is an agrochemical company engaged in the manufacturing, stocking, distribution and sale of agricultural formulations.

Shivchem Agro IPO Listing Details

The IPO was a ₹14.01 crore book-built issue consisting entirely of a fresh issue of 22.60 lakh equity shares.
The issue was priced between ₹59 and ₹62 per share and opened on September 28 before closing on September 30.

- Issue Price: ₹62 per share
- BSE SME Listing Price: ₹62 per share
- Listing Premium/Discount: Nil
- Trading Price: ₹62 per share
- Change From Issue Price: Nil
- Overall Subscription: 2.14 times
- Fresh Issue: ₹14.01 crore
- Offer for Sale: Nil
- Price Band: ₹59 to ₹62 per share
- IPO Open Date: September 28, 2026
- IPO Close Date: September 30, 2026
- Listing Date: October 6, 2026
- Exchange: BSE SME

First-Day Trading Performance

Listing Price: Shivchem Agro share price debuted at ₹62 per share, in line with its IPO issue price.

Post-listing Price: At the available market snapshot, the stock was trading at ₹62 per share, unchanged from the issue price.

Subscription Context: Shivchem Agro's IPO was subscribed 2.14 times overall. Individual Investors subscribed 3.50 times, while QIBs and NIIs subscribed 1.00 time each.

Growth Drivers and Challenges

Growth Drivers

Agrochemical Operations: The company operates in agricultural formulations used by the farming sector.

Manufacturing Presence: Shivchem Agro undertakes manufacturing, stocking, distribution and sale of agricultural formulations.

Quality Certifications: The company holds multiple quality and management certifications relevant to its operations.

Challenges

Agricultural Dependence: Demand can be influenced by agricultural activity and seasonal conditions.

Raw Material Exposure: Changes in input costs can affect manufacturing economics.

Competitive Market: The agrochemicals industry has established domestic participants.

Working Capital Requirements: Working capital remains an important requirement for the company's operations.

Utilisation of IPO Proceeds

The ₹14.01 crore IPO was entirely a fresh issue.
The proceeds are intended for:
- ₹6.90 crore towards working capital requirements
- ₹3.50 crore towards repayment or prepayment of borrowings
- Balance towards general corporate purposes

Business and IPO Overview

Shivchem Agro operates in the agrochemical sector and is engaged in manufacturing and distributing agricultural formulations.

The ₹14.01 crore IPO consisted entirely of a fresh issue of 22.60 lakh shares, priced in a band of ₹59 to ₹62 per share.

The issue was subscribed 2.14 times overall, led by Individual Investors at 3.50 times.
The shares debuted on BSE SME on October 6 at ₹62 per share, in line with the IPO issue price.