Shah Investor's Home came to market through an IPO that opened on 28 September 2026 and closed on 30 September 2026, and the shares listed on 6 October 2026 on the NSE and BSE. The price band was ₹159 to ₹167 per share and one lot was 85 shares, so the minimum application was ₹14,195. The issue size was ₹90.17 crore. The whole issue was fresh shares, so the money raised went to the company.
It listed at ₹171, a gain of 2.4% against the issue price of ₹167. MUFG Intime India Pvt.Ltd was the registrar to the issue, and Beeline Capital Advisors Pvt. Ltd was the lead manager.
The issue was subscribed 38.12 times overall.
Incorporated in 1994, Shah Investor’s Home Ltd. is a retail brokering company that provides services in the areas of equity brokerage services and derivatives brokerage services. These services offered by the company help in carrying out the process of trading in various kinds of financial products such as equities, investment in initial public offerings, distribution of mutual funds, and other securities.
The company focuses mainly on carrying out the brokering activities in the secondary markets for their retail clients, including resident Indians and non-resident Indians. Apart from placing buy and sell orders, they are also engaged in carrying out the business of distributing mutual funds, margin financing, and stock lending and borrowing services under the brand name Shah Investors.
As of March 31, 2025, the company has been handling in excess of 100,000 demat accounts with over 37,810 clients and having associations with over 184 authorized persons. The company operates in 11 branches in India located in Mumbai, Ahmedabad, Vadodara, Junagadh, Gandhinagar and Rajkot.
As described in the offer document.
Upendra Trikamlal Shah, Purnima Upendra Shah, Tanmay Upendra Shah, Trupti Utpal Shah. Promoter holding 84.34% before the issue and 62.81% after.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
₹159 to ₹167 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 85 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,195.
₹14,195, for one lot of 85 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 28 September 2026 and closed on 30 September 2026.
The basis of allotment was published on 1 October 2026 by MUFG Intime India Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 6 October 2026 on the NSE and BSE, opening at ₹171.
The issue size was ₹90.17 crore. The fresh issue was 53,99,200 shares (aggregating up to ₹90.17 crore).
It listed at ₹171 against an issue price of ₹167, a gain of 2.4 percent on listing day.