Shah Investor's Home IPO
Shah Investor's Home LtdMainboard
This IPO is now Live.
- Open date
- 28 Sep 2026
- Close date
- 30 Sep 2026
- Min. Investment
- ₹14,195
- Lot Size
- -
- Fresh Issue
- ₹90.17 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- DRHP - PDF(opens in a new tab)
Subscription rate
- Qualified Institutional Buyers0.61x
- Non-Institutional Investors0.58x
- Retail-Individual Investors0.49x
- Total0.54x
Schedule
- Completed: IPO open date28 Sep 2026
- Current step: IPO close date30 Sep 2026
- Upcoming: Allotment date1 Oct 2026
- Upcoming: Funds unblock or debit5 Oct 2026
- Upcoming: Tentative listing date6 Oct 2026
About
Promoter shareholding in Shah Investor's Home Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Upendra Trikamlal Shah | 30,00,000 | 19.04% | 30,00,000 | 14.18% |
| Purnima Upendra Shah | 34,50,000 | 21.90% | 34,50,000 | 16.31% |
| Tanmay Upendra Shah | 25,05,000 | 15.90% | 25,05,000 | 11.84% |
| Trupti Utpal Shah | 6,50,000 | 4.13% | 6,50,000 | 3.07% |
Financials of Shah Investor's Home IPO
| Key Performance Indicators | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Operating Revenue | - | - | - |
| Other Income | - | - | - |
| Total Income | 78.93 | 94.28 | 71.48 |
| Total Expenses | 55.06 | 63.07 | 54.09 |
| Profit Before Tax | - | - | - |
| Total Profit | 17.93 | 23.39 | 13.20 |
Shah Investor's Home IPO Strengths & Risks
- Sizeable clientele across Gujarat.
- Strong track record of financial performance and operating efficiency.
- Leveraging technology to enhance client satisfaction.
- Integrated brokerage model with long term client relationships.
- Experienced Promoters and Management Team.
- Risks Relating to the Business: The company's broking segment contributes 64.78%, 68.90%, and 71.60% of its revenue for the Fiscals 2026, 2025 and 2024, respectively of which a significant portion is derived from a few geographical regions in which Gujarat contributes 93.74%, 93.30% and 93.53%, respectively Any reduction in the company's revenue from broking segment could have a material adverse effect on its business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company is subject to extensive statutory and regulatory requirements and supervision. Any failures to comply with applicable law or changes in the regulatory framework could result in action being initiated against the company by relevant authorities which may have a material adverse impact on its business, results of operations and financial condition.
- Risks Relating to the Business: The company relies heavily on its network of Authorised Persons associated with the company. Loss of a significant number of Authorised Persons, or failures to expand its network of Authorised Persons may have an adverse impact on the company's business, results of operations and financial conditions. Further, its could be liable for the lapses of the company's Authorised Persons.
- Risks Relating to the Business: Any failures to obtain, renew and maintain requisite statutory and regulatory permits, licenses and approvals for the company operations from time to time may adversely affect its business.
- Risks Relating to the Business: The company relies on the Indian exchanges for a significant portion of its business, and the company is registered with such exchanges and is subject to the rules and regulations framed by such exchanges. Any disruption in the functioning of the exchanges or a disruption to the company connection with the exchanges or failures to comply with exchange rules and regulations could have a material adverse effect on its business and results of operations.
- Risks Relating to the Business: The company's continued success and growth will be dependent on its ability to retain and grow the company's client base and network of Authorised Person and relationship managers. Failures to retain and augment its client base could have a material adverse effect on the company's business, financial condition and growth prospectus.
- Risks Relating to the Business: The company has high working capital requirements. Any failures in arranging adequate working capital for its operations may adversely affect the company's business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company has applied for registrations of certain intellectual property rights and any failures to enforce its rights could have an adverse effect on the company's business prospects.
- Risks Relating to the Business: The company has incurred negative net cash flows from operating activities in Fiscal 2026. Negative net cash flows could have an adverse impact on its growth prospects.
- Risks Relating to the Business: The company's financial performance is subject to interest rate risk, and an inability to manage its interest rate risk may have a material adverse effect on the company's business prospects, financial condition and results of operation.
- Risks Relating to the Business: The company is exposed to credit risk arising out of receivables in its day-to-day operations. If these credit risks materialise it would increase the level of the company's non-performing assets, and expose it to significant losses.
- Risks Relating to the Business: The company may be exposed to risks related to its MTF product and the company may fails to manage its MTF business, which may adversely affect the company's business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: There are certain discrepancies, errors, and non-compliance which have occurred in some of the company's corporate records relating to forms filed with the RoC and other provisions of Companies Act, 2013/1956. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate or any other law could impact the financial position of the Company to that extent.
- Risks Relating to the Business: The company's contingent liabilities as at March 31, 2026 as per Ind AS 37, as disclosed in its Restated Consolidated Financial Information could adversely affect the company's financial condition.
- Risks Relating to the Business: The company has in the past entered into related party transactions and may continue to enters into such transactions under Ind AS 24, in the future, and there can be no assurance that the company could not have achieved more favourable terms had such transactions not been entered into with related parties.
- Risks Relating to the Business: The company is unable to trace some of its historical corporate records. The company cannot assure you that no legal proceedings or regulatory actions will be initiated against the Company in future in relation to the missing corporate records which may impact its cash flows, financial condition and reputation.
- Risks Relating to the Business: Competition from existing and new market participants in the company line of business may affect its market share, or results of operations.
- Risks Relating to the Business: A significant decrease in the company's liquidity could negatively affect its business, in particular the Broking Segment, reduce client confidence in the company and may also adversely impact its brand.
- Risks Relating to the Business: The company is heavily reliant on its Promoters, Key Managerial Personnel, and Senior Management. Failures to retain or replace them will adversely affect the company's business.
- Risks Relating to the Business: The Company had issued Equity Shares to more than 49 investors in the past and as a matter of abundant caution for better corporate governance, the Company has given an exit offer to the eligible shareholders.
- Risks Relating to the Business: The Company has ventured into the margin trading business during Fiscal 2025. The company's inability to successfully expand this product offering may adversely affect its growth and negatively impact the company profitability.
- Risks Relating to the Business: Objects of the Issue for which the funds are being raised have not been appraised by any bank or financial institutions. Any variation in the utilization of the company's Net Proceeds as disclosed in this Red Herring Prospectus would be subject to certain compliance requirements, including prior Shareholders approval.
- Risks Relating to the Business: The company could be subject to claims by clients or actions by regulators or both for alleged mis-selling. Any case of mis-selling, or fraud, could result in claims and fines against the company and could have a material adverse effect on its business, financial condition, cash flows, results of operations and reputation.
- Risks Relating to the Business: The company may fails to detect money laundering and other illegal or improper activities on a timely basis, which may lead to criminal and, or, regulatory proceedings against the company which could have a material adverse effect on its reputation, business operations, financial condition and results of operation.
- Risks Relating to the Business: The company's directors including its independent directors does not have any experience of being a director in a listed company or in the financial sector. This may requires them to divert their attention from its business concerns to understand the detailed operations of a listed company or in the financial sector.
- Risks Relating to the Business: There are outstanding litigation against the Company, Subsidiary, its Directors, KMPs and Senior Management ("SM") which if determined adversely, could affect the company's business and results of operations.
- Risks Relating to the Business: The company is dependent on technology in carrying out its business activities and information technology forms an integral part of its business. The company is dependent on third party suppliers for these technologies and software. Any failures or inadequacies in its information technology systems may hamper the company's ability to compete effectively which may result in lower revenue, higher costs and would adversely affect its business and results of operations.
- Risks Relating to the Business: The company has incurred indebtedness including in the form of loans from banks may incur substantial additional indebtedness. Conditions and restrictions imposed on the company pursuant to such indebtedness could adversely affect its ability to obtain financing in the future.
- Risks Relating to the Business: The Company has acquired certain premises including branch offices from its Promoters and members of Promoter Group, who may be deemed to be interested in the said acquisition.
- Risks Relating to the Business: Some of the properties from which the company operates its business have been taken on leave and license basis / rent. The company cannot assure you that the leave and license, and, or rent agreements will be renewed upon termination or that its will be able to obtain other premises on similar commercial terms.
- Risks Relating to the Business: There are operational risks associated with the company's business activities which, if realised, may have a material adverse effect on its business, financial condition, cash flows, results of operations and growth prospects.
- Risks Relating to the Business: The company depends on the accuracy and completeness of information about clients and counterparties for its business. Any misrepresentation, errors in or incompleteness of such information could adversely affect the company's business and financial performance.
- Risks Relating to the Business: If research reports disseminated by the company contain errors, then it could have a material adverse effect on the company's business, financial condition or results of operations.
- Risks Relating to the Business: The Company has paid dividends in the last 3 Fiscals. There can be no assurance that the Company will continue to pay dividends in the future.
- Risks Relating to the Business: Certain sections in this Red Herring Prospectus contain information from the CARE Report, which was prepared by CARE Analytics and Advisory Private Limited and exclusively commissioned and paid for by the Company for the purposes of the Issue, and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
- Risks Relating to the Business: The company has a large pool of employees and employee benefits expense is a significant portion of its total expenses. Also, the company operations could be adversely affected by strikes or increased wage demands by its employees which could adversely affect the company operations and its profitability.
- Risks Relating to the Business: An inability to maintain adequate insurance cover in connection with the company's business may adversely affect its operations and profitability.
- Risks Relating to the Business: Certain non-GAAP financial measures and certain other statistical information relating to the company operations and financial performance such as EBITDA, EBITDA margin, interest coverage ratio, net debt to EBITDA ratio, return on capital employed and return on equity have been included in this Red Herring Prospectus. These non-GAAP financial measures are not measures of operating performance or liquidity defined by Ind AS and may not be comparable.
- Risks Relating to the Business: If the company is subject to any frauds, theft, or embezzlement by its employees, Authorised Persons or others the company is associated with, it could adversely affect the company's reputation, results of operations, financial condition and cash flows.
- Risks Relating to the Business: Some of its Group Companies and Promoter Group entities are associated with companies which operates in a similar line of business as the Company, which may lead to competition with these entities and could potentially result in a loss of business opportunity for the Company.
