Shellz India came to market through an SME IPO that opened on 15 October 2026 and closed on 19 October 2026, and the shares listed on 23 October 2026 on the BSE. The price band was ₹170 to ₹179 per share and one lot was 800 shares, so the minimum application was ₹1,43,200. The issue size was ₹59.97 crore. The whole issue was fresh shares, so the money raised went to the company.
It listed at ₹179, flat against the issue price of ₹179. Bigshare Services Pvt.Ltd was the registrar to the issue, and Socradamus Capital Pvt.Ltd was the lead manager.
The issue was subscribed 58.70 times overall.
Shellz India Ltd is involved in the manufacture and sale of various confectionery products in India with the help of a varied range of more than 250 SKUs. Its range is extensive and covers various types of products such as chocolate-based products, jellies, baked products, and others. Furthermore, Shellz India Ltd manufactures and sells ingredients for food and bakery products to cater to urban, semi-urban, smaller town and rural marketplaces via its extensive distribution system.
The company’s consumer products include two major brands: Hugs and Tosca. The leading brand, Hugs, is targeted at the mass market and features products belonging to four main categories: baked products, chocolate-based confectionery, jellies, and panned and sugar confectionery. Besides the business in branded consumer goods, the company is also engaged in the manufacturing of private label products for third-party customers.
In addition, Shellz India Ltd exports its products to foreign markets such as the Middle East, Southeast Asia, and Europe (including Spain).
As described in the offer document.
Kapil Garg, Shalini Garg. Promoter holding 88.11% before the issue and 63.64% after.
Work out the listing gain for this SME 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.
₹170 to ₹179 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 800 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,43,200. After listing, SME shares also trade in lots rather than one share at a time.
₹1,43,200, for one lot of 800 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 15 October 2026 and closed on 19 October 2026.
The basis of allotment was published on 21 October 2026 by Bigshare Services Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 23 October 2026 on the BSE, opening at ₹179.
The issue size was ₹59.97 crore. The fresh issue was 33,50,400 shares (aggregating up to ₹59.97 crore).
It listed at ₹179 against an issue price of ₹179, a gain of 0 percent on listing day.