Shah Investors Home IPO
Shah Investors Home IPO Details
-
Open Date
28 Sep 2026
-
Close Date
30 Sep 2026
- IPO Price Range
₹ 159 to ₹167
- IPO Size
₹ 90.17 Cr
Shah Investors Home IPO Timeline
Last Updated: 28 September 2026 5:45 AM by 5paisa
Shah Investor's Home Limited is a retail broking company with over three decades of experience in financial markets. Its core services cover equity and derivatives brokerage, while its wider offering includes depository services, IPO investing, mutual fund distribution, margin trading and stock lending and borrowing services under the "Shah Investors" brand. The company also offers its products and services through its SIHL Moneymaker and SIHL Fundspro platforms.
As of March 31, 2026, the company had served more than 1,00,000 demat accounts and had 38,189 active clients. Its distribution network included 181 authorised persons and 11 branches across cities including Ahmedabad, Mumbai, Vadodara, Junagadh, Gandhinagar and Rajkot. Gujarat accounted for 36,720 active clients, or 96.15% of its active client base, as of March 31, 2026.
Established in: 1994
Managing Director: Tanmay Upendra Shah
Tanmay Upendra Shah is the company's Managing Director and Chief Financial Officer and has more than 20 years of experience in stock broking and depository services.
Peers
The listed peer set for Shah Investor's Home includes:
- SMC Global Securities Limited
- Share India Securities Limited
- Arihant Capital Markets Limited
Shah Investors Home Objectives
The company proposes to use the Net Proceeds from the fresh issue towards:
1. Funding working capital requirements of the company: ₹60 crore
2. General corporate purposes
The amount allocated towards general corporate purposes will be finalised after determination of the issue price and will not exceed 25% of the Gross Proceeds.
Shah Investor's Home IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹90.17 Cr |
| Offer For Sale | Nil |
| Fresh Issue | ₹90.17 Cr |
Shah Investor's Home IPO Lot Size
Application amounts below are calculated at the upper end of the price band of ₹167 per share.
| 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 |
| S-HNI (Max) | 70 | 5,950 | 9,93,650 |
| B-HNI (Min) | 71 | 6,035 | 10,07,845 |
| Particulars (₹ Crore) | FY24 | FY25 | FY26 |
| Revenue From Operations | 77.82 | 94.27 | 71.48 |
| EBITDA | 25.13 | 35.31 | 21.62 |
| PAT | 17.93 | 23.39 | 13.20 |
| Particulars (₹ Crore) | FY24 | FY25 | FY26 |
| Equity Share Capital | 15.75 | 15.75 | 15.75 |
| Net Worth | 150.54 | 168.09 | 179.71 |
| Total Borrowings | 3.54 | 5.71 | 18.47 |
| Particulars (₹ Crore) | FY24 | FY25 | FY26 |
| Net Cash Generated From / (Used In) Operating Activities | 110.19 | -31.86 | -19.70 |
| Net Cash Generated From / (Used In) Investing Activities | -1.52 | -11.23 | -9.94 |
| Net Cash Generated From / (Used In) Financing Activities | -6.98 | -1.86 | 8.83 |
| Net Increase / (Decrease) In Cash And Cash Equivalents | 101.69 | -44.96 | -20.82 |
Strengths
1. Sizeable clientele across Gujarat: The company had 38,189 active clients as of March 31, 2026, with Gujarat accounting for more than 96% of them.
2. Technology-led service model: Its digital platforms and technology investments support brokerage and related financial services.
3. Integrated brokerage offering: Broking, depository services, MTF, distribution and other services allow the company to serve customers across multiple financial-product requirements.
4. Experienced promoters and management: The promoters and senior management have longstanding experience in broking and depository services.
Weaknesses
1. High geographical concentration: A significant share of the company's active clients and broking revenue comes from Gujarat.
2. Dependence on brokerage income: Brokerage income contributed 64.78% of revenue from operations in FY26.
3. Reliance on authorised persons: The company's distribution and client servicing model depends partly on its authorised-person network.
4. Working-capital requirements: The RHP identifies high working-capital requirements and negative operating cash flow in FY26 as business risks.
Opportunities
1. Growth in the Indian broking market: The RHP-cited industry report estimates India's brokerage industry at around ₹0.52 lakh crore in FY25 and expects 16%-18% CAGR over the following two to three years.
2. Geographical expansion: The company plans to expand its brokerage business through marketing, branches and its authorised-person network.
3. Further technology investment: Continued spending on technology and innovation forms part of its growth strategy.
4. Diversification of revenues: The company plans to improve fee-based revenue and enable clients to access global equities.
Threats
1. Intense competition: India's broking industry is highly competitive, including competition from discount and technology-led brokers.
2. Regulatory changes: Broking, depository and related financial services are subject to extensive regulatory requirements and supervision.
3. Exchange and technology dependency: Disruptions in exchanges or connectivity to exchanges may affect business operations.
4. Interest-rate exposure: The company's financial performance may be affected by changes in interest rates, particularly as its margin-trading activities expand.
1. Over three decades of experience in the retail broking industry.
2. Integrated financial-services offering covering broking, depository services, MTF and distribution.
3. Established client base of more than 1,00,000 demat accounts and over 38,000 active clients as of March 31, 2026.
4. Technology-led expansion strategy supported by SIHL Moneymaker and SIHL Fundspro.
5. Fresh issue proceeds include ₹60 crore earmarked towards the company's working-capital requirements.
India's brokerage market continues to expand alongside wider participation in financial markets, rising financial awareness and lower access costs. The RHP cites an estimated industry size of around ₹0.52 lakh crore in FY25 and an expected CAGR of 16%-18% over the following two to three years.
Shah Investor's Home has an established retail-broking franchise, particularly in Gujarat, and operates across brokerage, depository services, mutual fund distribution and margin trading. Its MTF book increased from ₹9.64 crore in FY25 to ₹20.96 crore in FY26, while mutual fund assets under distribution rose from ₹49.17 crore to ₹54.38 crore. The company's strategy includes expanding its geographical presence, increasing fee-based revenues and investing further in technology.
Growth also needs to be viewed alongside its concentration risks. More than 96% of active clients were based in Gujarat as of March 31, 2026, and the company reported lower revenue and profitability in FY26 compared with FY25.
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FAQs
Shah Investor's Home IPO opens on September 28, 2026 and closes on September 30, 2026. The anchor investor bid period is scheduled for September 25, 2026.
The Shah Investor's Home IPO is approximately ₹90.17 crore at the upper end of the price band. It comprises a fresh issue of 53,99,200 equity shares and does not include an offer-for-sale component.
The Shah Investor's Home IPO price band is ₹159 to ₹167 per equity share.
To apply for Shah Investor's Home IPO:
1. Log in to your 5paisa demat account and select the issue under the current IPO section.
2. Enter the number of lots and the price at which you wish to apply.
3. Enter your UPI ID and submit the application.
4. Approve the UPI mandate received on your UPI application to block the required funds.
The minimum lot size is 85 shares. At the upper price band of ₹167 per share, the minimum application amount is ₹14,195.
The tentative basis of allotment date for Shah Investor's Home IPO is October 1, 2026.
Shah Investor's Home IPO is tentatively scheduled to list on October 6, 2026 on BSE and NSE. The RHP confirms that the company's equity shares are proposed to be listed on both exchanges.
Beeline Capital Advisors Private Limited is the Book Running Lead Manager to the issue. MUFG Intime India Private Limited is the registrar.
The company intends to use the Net Proceeds primarily to fund its working-capital requirements, for which ₹60 crore has been earmarked, and for general corporate purposes.