Shares of Shah Investor's Home listed at 2% premium over IPO price on Tuesday. The stcok opened at Rs 171 on BSE and NSE, as compared to its issue price of Rs 167.
Based on the latest GMP, Shah Investor's Home shares could list at around Rs 184, compared with the issue price of Rs 167, implying a potential listing gain of about 10%. However, GMP is an unofficial and unregulated indicator, and the actual listing price may differ.
The Rs 90.17 crore IPO was entirely a fresh issue of 53.99 lakh shares. The public issue opened for subscription on September 28, 2026, and closed on September 30.
The IPO received a strong response from investors, with the issue subscribed 38.12 times overall. The retail portion was subscribed 19.26 times, while the QIB (Ex Anchor) and NII portions were subscribed 28.05 times and 95.54 times, respectively.
The basis of allotment was finalised on October 1, while the shares are scheduled to list on both the NSE and BSE on October 6, 2026.
The company fixed the final issue price at Rs 167 per share. The IPO lot size was 85 shares, making the minimum investment for retail investors Rs 14,195.
Beeline Capital Advisors Pvt. Ltd. was the book-running lead manager to the issue, while MUFG Intime India Pvt. Ltd. acted as the registrar.
IPO Objects of the Issue
The company proposes to utilise the net proceeds of the issue primarily towards funding its working capital requirements, for which Rs 60 crore has been earmarked. Another Rs 18.56 crore will be utilised for general corporate purposes, while Rs 11.61 crore has been allocated towards issue expenses. The total amount to be raised through the issue is Rs 90.17 crore.
Incorporated in October 1994, Shah Investor's Home Ltd. is a retail broking company with over three decades of experience in the securities market. It offers equity and derivatives brokerage services, facilitating transactions in equities, IPOs and other securities for retail clients, including resident and non-resident Indians. The company also provides mutual fund distribution, margin funding, and stock lending and borrowing (SLB) services under the "Shah Investors" brand. As of March 31, 2026, it had served over 1 lakh demat accounts, with more than 38,000 active clients and a network of over 181 authorised persons. It operates 11 branches across Mumbai, Ahmedabad, Vadodara, Junagadh, Gandhinagar and Rajkot, primarily serving customers in Gujarat and Maharashtra.
The company has steadily expanded its technology capabilities, including its app-based platform "SIHL Moneymaker", which had over 12,452 active registered users as of March 31, 2026, and its API-powered algorithmic trading platform "ALGOFY", launched in FY26. The company also operates an in-house ERP system across its branches and franchises. As of July 31, 2026, Shah Investor's Home had 167 permanent employees across functions including accounts, compliance, demat, research, IT, trading, sales, MTF & SLB and customer support. It focuses on building long-term client relationships while expanding its retail and HNI customer base.
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