Shivchem Agro IPO was an SME issue of ₹14.01 Cr at a price band of ₹59 – ₹62 per share, open from 28 Sep 2026 to 30 Sep 2026. The shares listed on BSE SME on 06 Oct 2026.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
GMP Signal
Moderate Interest
GMP: +0% above issue price
⭐ Overall Signal
Moderate Interest
GMP + Subscription combined Not financial advice
Subscription Signal
Moderate Interest
0.00x subscribed
Issue Details
Fresh Issue₹14.01 Cr
Offer for Sale (OFS)Nil
Total Issue Size₹14.01 Cr
Face Value₹5
Market Cap (at issue)₹46.70 Cr
Listing ExchangeBSE SME
📅 Open Date28 Sep 2026
🔒 Close Date30 Sep 2026
✂️ Cut-off Price Date30 Sep 2026
🎟️ Allotment Date01 Oct 2026
💸 Refund Initiation02 Oct 2026
📂 Demat Credit02 Oct 2026
📈 Listing Date06 Oct 2026
Objects of the Issue
💰 Working capital
💰 Repayment/prepayment of loans
💰 General corporate purposes
About the Company
Shivchem Agro, set up in 2021 with its registered office in New Delhi, makes and sells crop-protection products — insecticides, fungicides, herbicides, plant-growth regulators and rodenticides — along with fertilisers. It has a formulation plant at Jhajjar, Haryana, holds licences for over 170 pesticide and 80 fertiliser products, and sells through about 685 distributors in eight states including Andhra Pradesh, Telangana, Assam, Bihar and Uttar Pradesh.
Strengths
✅ Large number of product registrations across crop-protection categories
✅ Distributor network of about 685, backed by field demonstrations for farmers
✅ Plant has effluent-treatment and pollution-control equipment
✅ Income tripled from ₹11 Cr in FY24 to ₹34 Cr in FY26
Risk Factors
⚠️ Demand is seasonal and depends on the monsoon
⚠️ Andhra Pradesh and Assam together bring in over half of revenue
⚠️ Negative operating cash flow in FY24 and FY25, and receivables of about ₹17 Cr
⚠️ No long-term raw-material contracts; a few suppliers provide most inputs
⚠️ Promoters face some pending legal proceedings
Subscription Status
Not yet open
QIB: —
NII: —
RII: —
GMP Trend
Day-wise Subscription
Day
QIB
NII
RII
Overall
Day 1
—
—
—
0.00x
Day 2
—
—
—
0.00x
Day 3
—
—
—
0.00x
Share Reservation
QIB
50%
NII
15%
RII
35%
Allocation as per SEBI regulations for SME IPO
Anchor Investors
Anchor allotment details not yet available.
Promoter Holding
92.73%Pre-IPO
→ -27.8%
64.91%Post-IPO
92.73%
64.91%
Founders & Leadership
SA
Sachin Agarwal
Promoter & Managing Director
Leads the company as Managing Director
RA
Rohit Agarwal
Promoter
Member of the promoter group
IPO Timeline
✓
Open Date28 Sep 2026
✓
Close Date30 Sep 2026
✓
Allotment Date01 Oct 2026
✓
Listing Date06 Oct 2026
Key Financials
Revenue₹33.8 Cr
PAT₹3.3 Cr
EPS₹6.16
P/E Ratio10.06x
ROE28.76%
Market Cap₹46.70 Cr
Company Financials (Restated Consolidated)
Period Ended
FY26
FY25
FY24
Total Income
33.84
27.50
10.95
Profit After Tax
3.25
2.60
1.29
Amount in ₹ Crore
Key Performance Indicators (KPI)
KPI
FY26
FY25
Metric
Pre IPO
Post IPO
EPS
₹6.16
—
P/E (x)
10.06x
—
ROE (%)
28.76%
—
Promoter Holding
92.73%
64.91%
Market Cap
₹46.70 Cr
IPO Registrar
Maashitla Securities
Shivchem Agro IPO FAQs
Shivchem Agro IPO is an SME IPO with an issue size of ₹14.01 Cr at a price band of ₹59 – ₹62. Minimum lot size is 2000 shares and the minimum application is 2 lots (minimum investment ~₹2,48,000). Opened on 28 Sep 2026 and closed on 30 Sep 2026. Listed on BSE SME. Registrar: Maashitla Securities.
Apply through ASBA via your bank's net banking, or via UPI through Zerodha, Groww, Upstox, Angel One, or your broker's app. Select the IPO, choose lot quantity, and approve the UPI mandate or ASBA block.
Opened on 28 Sep 2026 and closed on 30 Sep 2026. Cut-off price date: 30 Sep 2026.
Lot size is 2000 shares and the minimum application is 2 lots. At the upper price band of ₹62, minimum investment is approximately ₹2,48,000.
Allotment date is 01 Oct 2026. Refund initiation and demat credit were scheduled for 02 Oct 2026.
Listed on 06 Oct 2026 on BSE SME.
GMP is an unofficial grey-market indicator and can change at any time. Figures are compiled from publicly available sources for information only — this is not investment advice.Official references: SEBI · NSE · BSE
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