Shellz India shares are set to list on the BSE SME platform on Friday, October 23, with a grey market premium (GMP) of around 4%, indicating a potential listing gain of about 4% over the issue price. However, the GMP is an unofficial indicator and does not guarantee the actual listing price or returns. The company's IPO was subscribed 58.54 times overall, demonstrating strong investor interest in the SME offering.
The initial public offering opened for subscription on October 15 and closed on October 19, 2026. The non-institutional investors (NII) category saw the highest subscription at 86.41 times, followed by individual investors at 56.09 times and qualified institutional buyers (QIBs) at 41.92 times. The company aims to raise ₹59.97 crore through the public issue, which comprises an entirely fresh issue of 33.50 lakh shares. As per the latest data, the issue was oversubscribed by 50.79 times overall, with strong participation across all investor categories.
The company fixed the IPO price band at ₹170–179 per share, with a lot size of 800 shares. At the upper end of the price band, the minimum investment for a retail investor applying for two lots, or 1,600 shares, amounts to ₹2,86,400. For high-net-worth individual (HNI) investors, the minimum application size is three lots, or 2,400 shares, requiring an investment of ₹4,29,600 at the upper price band. Socradamus Capital Pvt. Ltd. serves as the book-running lead manager, while Bigshare Services Pvt. Ltd. is the registrar.
As of March 31, 2026, the company had a distribution network of more than 300 super stockists, with its products available through kirana stores across approximately 24 states in India. In addition to marketing its own brands, Shellz India undertakes private-label manufacturing for third-party customers and exports products to markets in the Middle East, South Asia and Europe. As of August 31, 2026, the company had 258 full-time employees.
