Shah Investor's Home ; IPO
Shah Investor's Home ; IPO at a glance
Shah Investor's Home ; IPO was a mainboard issue of ₹90.17 Cr at a price band of ₹159 – ₹167 per share, open from 28 Sep 2026 to 30 Sep 2026. It was subscribed 0.95 times overall (QIB 1.08x, NII 1.32x, retail 0.75x). The shares listed on BSE, NSE on 06 Oct 2026.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
Not financial advice
Issue Details
Objects of the Issue
- 💰 Working capital — ₹60.00 Cr
- 💰 General corporate purposes
About the Company
Shah Investor's Home, incorporated in 1994 and based in Gandhinagar, Gujarat, is a retail stockbroker. It offers equity and derivatives broking, margin funding, securities lending and borrowing, and mutual-fund distribution to resident and NRI clients, through 11 branches in Gujarat and Mumbai, a network of authorised persons, and its own trading platforms (SIHL Moneymaker and ALGOFY).
Strengths
- ✅ Over three decades in retail broking with a large client base in Gujarat
- ✅ Branches, authorised persons and digital platforms together
- ✅ Strong balance sheet — net worth of about ₹180 Cr with modest borrowings
- ✅ The fresh capital supports margin-funding capacity
Risk Factors
- ⚠️ Earnings fell in FY26 — income dropped to ₹72 Cr from ₹94 Cr and PAT to ₹13.1 Cr from ₹23.4 Cr
- ⚠️ Broking income depends on market volumes, and recent SEBI F&O rules have cut retail derivatives activity
- ⚠️ Return on net worth is low, at about 7%
- ⚠️ Competes with low-cost discount brokers
- ⚠️ Business is concentrated in Gujarat
Subscription Status
GMP Trend
Day-wise Subscription
| Day | QIB | NII | RII | Overall |
|---|---|---|---|---|
| Day 1 | — | — | — | 0.00x |
| Day 2 | — | — | — | 0.00x |
| Day 3 | — | — | — | 0.00x |
Share Reservation
Allocation as per SEBI regulations for Mainboard IPO
Anchor Investors
Promoter Holding
Founders & Leadership
IPO Timeline
Key Financials
Company Financials (Restated Consolidated)
| Period Ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Total Income | 72.40 | 94.47 | 79.05 |
| Profit After Tax | 13.11 | 23.42 | 18.05 |
| Net Worth | 179.71 | 168.09 | 150.54 |
| Total Borrowing | 18.47 | 5.71 | 3.54 |
Amount in ₹ Crore
Key Performance Indicators (KPI)
| KPI | FY26 | FY25 |
|---|---|---|
| ROE (%) | 7.30 | 13.93 |
| Debt / Equity | 0.10 | 0.03 |
| Net Worth (Rs. Cr) | 179.71 | 168.09 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹8.32 | — |
| P/E (x) | 20.07x | — |
| ROE (%) | 7.35% | — |
| Promoter Holding | 84.34% | 62.81% |
| Market Cap | ₹353 Cr | |