Shining Tools came to market through an SME IPO that opened on 7 November 2025 and closed on 11 November 2025, and the shares listed on 14 November 2025 on BSE SME. The price band was ₹114 per share and one lot was 1200 shares, so the minimum application was ₹1,36,800. The issue size was ₹17.1 crore. The whole issue was fresh shares, so the money raised went to the company.
Maashitla Securities Pvt Ltd was the registrar to the issue, and Sobhagya Capital Options Pvt Ltd was the lead manager.
As of 11 November 2025.
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Incorporated in May 2013, Shining Tools Limited designs and manufactures high-performance solid carbide cutting tools for various industries in India. The company also reconditions secondhand tools, improving their performance and usability.The company designs and manufactures a wide variety of high-performance solid carbide cutting tools such as end mills, drills, reamers, and thread mills under the brand name 'Tixna'.
They create custom tooling and provide reconditioning services for automotive, engineering, aerospace, and defense industries.The company produces high-performance cutting tools such as end mills, thread mills, drills, and reamers with innovative solutions. These tools are applied in commercial metal cutting across different industries. The company is ISO 9001:2015 accredited in Quality Management for solid carbide cutting tools.The industries it caters to include Agriculture, Automobiles, Engineering, Medical, Casting, Defence, Aerospace, and Power.
The firm's manufacturing unit is located in Rajkot, Gujarat.As of June 2025, the company has 26 employees on its payroll.
As described in the offer document.
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Mr. Vipulbhai Laljibhai Ghonia, Mr. Kamalbhai Laljibhai Ghonia. Promoter holding 96.18% before the issue and 70.68% 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.
Shining Tools IPO was a ₹17.1 crore fixed-price issue, made up entirely of a fresh issue. It was priced at ₹114 per share with a lot size of 1,200 shares; the minimum retail application was 2,400 shares (₹2,73,600). The IPO was open from November 7 to November 11, 2025 and was subscribed 1.2x. Shares listed on BSE SME on November 14, 2025 at ₹104, a 8.8% discount to the issue price of ₹114. Maashitla Securities Pvt Ltd is the registrar.
Sobhagya Capital Options Pvt Ltd is the book running lead manager.
The issue price of Shining Tools IPO is ₹114 per share (fixed price).
The lot size of Shining Tools IPO is 1200 shares.
The minimum investment for Shining Tools IPO is approximately ₹2,73,600 based on the issue price.
The allotment date of Shining Tools IPO is Nov 12, 2025.
You can check Shining Tools IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Shining Tools IPO allotment status on Rupix for quick and easy access.
₹114 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 1200 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,36,800. After listing, SME shares also trade in lots rather than one share at a time.
₹1,36,800, for one lot of 1200 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 7 November 2025 and closed on 11 November 2025.
The basis of allotment was published on 12 November 2025 by Maashitla Securities Pvt Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 14 November 2025 on BSE SME.
The issue size was ₹17.1 crore. The fresh issue was 15,00,000 shares (aggregating up to ₹17.1 crore).