Shanti Inorganics Initial Public Offering Opens August 31: Price Band Rs 79-83, Rs 47.24 Crore NSE SME Issue

Shanti Inorganics Limited's initial public offering opens for subscription on August 31, 2026 and closes on September 2, 2026, with a price band fixed at Rs 79 to Rs 83 per equity share. The issue is a book-built offer of 56,91,200 equity shares of Rs 10 face value each, aggregating up to Rs 47.24 crore at the upper price band.

Shanti Inorganics proposes to list its shares on the NSE SME platform, with a tentative listing date of September 7, 2026.

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About Shanti Inorganics

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Shanti Inorganics Limited manufactures and supplies sulphur-based inorganic chemicals, including ammonium bisulphite, sodium bisulphite (powder and solution), sodium metabisulphite, and sodium sulphite anhydrous. These chemicals are used as preservatives, reducing agents, oxygen scavengers, and process intermediates across end markets including food and beverages, water treatment, oil drilling, pharmaceuticals, and chemicals.

The company holds one of the largest domestic production capacities for bisulphites, with a capacity of 18,800 metric tonnes per annum (MTPA). Shanti Inorganics serves both domestic and international markets, with exports contributing 42.57% of revenue from operations in FY2026, and products exported across 15 countries. As of May 31, 2026, the company had 66 employees. The company is promoted by Manojkumar Jayantilal Patel and Avnish Manojkumar Patel.

Shanti Inorganics IPO: Key Details

Parameter	Details
IPO Open Date	August 31, 2026
IPO Close Date	September 2, 2026
Price Band	Rs 79 to Rs 83 per share
Face Value	Rs 10 per share
Lot Size	1,600 shares
Minimum Investment (Retail)	Rs 2,65,600 (at upper price band)
Total Issue Size	~Rs 47.24 crore
Listing Platform	NSE SME
Tentative Allotment Date	September 3, 2026
Tentative Listing Date	September 7, 2026
Lead Manager	Vivro Financial Services Private Limited
Registrar	KFin Technologies Limited

Shanti Inorganics Financial Performance

Shanti Inorganics' revenue increased by 25% and profit after tax rose by 28% between the financial years ending March 31, 2026 and March 31, 2025, reflecting steady growth alongside margin improvement.

Understanding Sulphur-Based Inorganic Chemicals

Sulphur-based inorganic chemicals such as the bisulphites and metabisulphites manufactured by Shanti Inorganics serve as versatile industrial inputs. In food and beverage applications, they act as preservatives and antioxidants. In water treatment, they function as dechlorinating and oxygen-scavenging agents. In oil drilling operations, they help control bacterial growth and corrosion. This broad application base across multiple industries provides Shanti Inorganics with diversified demand drivers rather than dependence on a single end-user sector.

Business Strengths Highlighted by the Company

Shanti Inorganics has highlighted several strengths in its offer documents, including geographical diversification through exports to international markets, long-standing relationships with diversified customers across multiple industries, strategically located production facilities with access to abundant raw material resources and long-term supplier relationships, certifications and compliance with quality and food safety standards, and an experienced promoter and senior management team with extensive domain knowledge.

Key Risks and Considerations

As a chemical manufacturer with significant export exposure, Shanti Inorganics' revenue can be affected by currency fluctuations and international trade dynamics. The company's raw material costs, linked to sulphur and related input prices, can also introduce margin volatility. As with any SME listing, investors should be mindful that SME-listed shares typically trade with lower liquidity compared to mainboard listings. Prospective investors should review the complete Red Herring Prospectus for a full list of risk factors before applying.

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Conclusion

Shanti Inorganics' initial public offering, opening August 31 and closing September 2, 2026, offers investors exposure to a specialised sulphur-based inorganic chemicals manufacturer with meaningful export diversification and consistent financial performance. Prospective investors should review the full Red Herring Prospectus and assess the company's export and raw material cost exposure before subscribing. This article does not constitute subscription advice. Consult a SEBI-registered financial advisor before applying for any IPO.

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FAQs on Shanti Inorganics Initial Public Offering

When does the Shanti Inorganics initial public offering open?

Ans. The Shanti Inorganics initial public offering opens for subscription on August 31, 2026 and closes on September 2, 2026.

What is the price band for the Shanti Inorganics IPO?

Ans. The price band for the Shanti Inorganics initial public offering is fixed at Rs 79 to Rs 83 per equity share, with a lot size of 1,600 shares.

What does Shanti Inorganics manufacture?

Ans. Shanti Inorganics manufactures sulphur-based inorganic chemicals including ammonium bisulphite, sodium bisulphite, sodium metabisulphite, and sodium sulphite anhydrous, used as preservatives, reducing agents, and oxygen scavengers across food, water treatment, oil drilling, and pharmaceutical industries.

What is the issue size of the Shanti Inorganics IPO?

Ans. The Shanti Inorganics initial public offering aims to raise approximately Rs 47.24 crore through a book-built offer of 56,91,200 equity shares.

Where will Shanti Inorganics shares be listed?

Ans. Shanti Inorganics shares are proposed to list on the NSE SME platform, with a tentative listing date of September 7, 2026.

What is Shanti Inorganics' export exposure?

Ans. Exports contributed 42.57% of Shanti Inorganics' revenue from operations in FY2026, with products exported across 15 countries, providing meaningful geographical diversification.

Should I subscribe to the Shanti Inorganics IPO?

Ans. Whether to subscribe depends on individual risk tolerance, valuation assessment, and a thorough review of the Red Herring Prospectus. This article does not constitute subscription advice. Consult a SEBI-registered financial advisor before applying for any IPO.