Shellz India IPO (SME) IPO
· ClosedNSE SME IPO · Registrar: KFin Technologies Limited
GMP last updated: 13 Oct 2026, 6:00 pm
Current GMP
₹45
Estimated listing gain: ~38.1%
About Shellz India IPO (SME)
Shellz India Limited is a specialized manufacturer and designer of lifestyle accessories, mobile protection cases, and custom consumer tech gear. Leveraging an established direct-to-consumer digital infrastructure alongside robust B2B retail distribution partnerships, the company holds a solid niche footprint in the urban youth market. Its competitive edge stems from rapid product turnaround times, localized manufacturing efficiencies, and strong brand recall across major e-commerce marketplaces.
| Price Band | ₹110 – ₹118 |
| Lot Size | 1200 |
| Minimum Investment | ₹1,41,600 |
| Issue Details | Expected Total Issue Size: ~₹32.50 Cr | Entirely Fresh Issue of 27,54,200 equity shares. |
| Open Date | 2026-06-15 |
| Close Date | 2026-06-17 |
| Allotment Date | 2026-06-18 |
| Listing Date | 2026-06-22 |
| Listing Exchanges | NSE SME |
| Registrar | KFin Technologies Limited |
| Lead Manager | Beeline Capital Advisors Pvt Ltd |
| Quota Details | QIB: Not more than 50% | NII (HNI): Not less than 15% | Retail (RII): Not less than 35% | Market Maker: 5% |
Financials
FY25: Revenue ₹68.45 Cr, EBITDA ₹9.12 Cr, Net Profit ₹6.35 Cr | FY24: Revenue ₹51.20 Cr, EBITDA ₹6.80 Cr, Net Profit ₹4.45 Cr
Subscription Status
Expected strong subscription across retail and high-net-worth individual categories given the niche product portfolio and attractive SME pricing.
Fundamentals & Outlook
Short Term
bullish
Mid Term
bullish
Long Term
neutral
Our Analysis
Shellz India demonstrates robust top-line growth and improving operating margins, driven by rising demand for customized consumer lifestyle products. Key risks include heavy reliance on third-party online marketplaces for sales and raw material price volatility. However, the proceeds from the fresh issue will adequately fund working capital requirements and expansion of manufacturing lines, supporting a favorable short-to-medium-term outlook.
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