Shivchem Agro IPO
Shivchem Agro LtdSME
This IPO is now Live.
- Open date
- 28 Sep 2026
- Close date
- 30 Sep 2026
- Min. Investment
- ₹2,48,000
- Lot Size
- -
- Fresh Issue
- ₹14.01 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- DRHP - PDF(opens in a new tab)
Subscription rate
- Qualified Institutional Buyers0.00x
- Non-Institutional Investors0.57x
- Retail-Individual Investors0.29x
- Total0.42x
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 Shivchem Agro Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Rohit Agarwal | 23,49,950 | 44.57% | 23,49,950 | 31.20% |
| Sachin Agarwal | 23,49,950 | 44.57% | 23,49,950 | 31.20% |
| Deepa Agarwal | 53,020 | 1.00% | 53,020 | 0.70% |
| Richa Agarwal | 1,36,620 | 2.59% | 1,36,620 | 1.81% |
Shivchem Agro IPO Strengths & Risks
- Diversified product portfolio including a wide range of insecticides, fungicides, herbicides, plant growth regulators, rodenticides, and fertilizers.
- A large and diverse Distributors and Distribution Network.
- On-Field Product Demonstrations.
- Manufacturing facility with ability to manufacture a wide range of products.
- Enhanced Efficiency Through Automated Filling and Packaging Machines.
- Risks Relating to the Business: We require various statutory and regulatory approvals, including licenses under the Insecticides Act, 1968 and the Fertilizer Control Order, 1985 for our products. Any failure to successfully obtain such registrations or renew or maintain our statutory and regulatory permits and approvals required to operate our business and manufacturing facility would adversely affect our operations, results of operations and financial condition.
- Risks Relating to the Business: We are subject to stringent technical specifications and quality requirements in relation to our products. Our failure to comply with the quality standards and technical specifications may lead to loss of business from such customers and could negatively impact our reputation, which would have an adverse impact on our business prospects and results of operations.
- Risks Relating to the Business: Our products may become obsolete or ineffective, which could adversely affect our revenues, profitability, overall business prospects and results of operations.
- Risks Relating to the Business: Our cost of materials consumed constituted a majority of the total expenses incurred in financial year ended March 31, 2026, 2025 and 2024. Any further increase in our costs of materials consumed or our inability to reasonably offset our costs with the prices of our products may have an adverse impact on our profitability.
- Risks Relating to the Business: Our Company has paid capital advances to our Promoters for proposed property acquisitions. The transaction with Rohit Agarwal has been cancelled and the advance refunded, while the transaction with Sachin Agarwal remains incomplete and may expose us to forfeiture risk.
- Risks Relating to the Business: We are dependent on our distribution network for the sale of our products to our end customers. Our revenue from operations is primarily driven through our Distributors. Any challenges in maintaining relationships with these Distributors or unfavourable market developments affecting Distributor driven sale could have an adverse impact on our business, operational performance, cash flows, and overall financial health.
- Risks Relating to the Business: We depend on a few suppliers for supply of raw materials. Any failure to procure such raw materials from these suppliers may have an adverse impact on our manufacturing operations and results of operations.
- Risks Relating to the Business: We typically do not enter into long-term agreements with our customers. Any inability to retain our customers may have a material adverse impact on our profitability, financial condition and results of operations.
- Risks Relating to the Business: Our inability to collect receivables in time or at all, and any default in payment from our clients, could materially and adversely affect our business, cash flows, financial condition and results of operations.
- Risks Relating to the Business: There are certain discrepancies in some of our corporate records relating to forms filed with the Registrar of Companies.
- Risks Relating to the Business: Our business is sensitive to unpredictable or unexpected changes and adverse weather conditions which affect the agrochemical industry. Seasonal variations and unfavourable local weather patterns may have an adverse effect on our business, results of operations and financial condition.
- Risks Relating to the Business: We offer certain discounts and rebates to Distributors and Non-Distributors due to intense competition which may impact profitability.
- Risks Relating to the Business: We are dependent on third party transportation and logistics service providers for certain operations including transportation of raw materials, distribution and delivery of our products and hazardous waste management. Any defect, damage or destruction caused to our products could adversely affect our business, financial condition and results of operations.
- Risks Relating to the Business: We have experienced negative cash flows in the past and may continue to do so in the future and the same may adversely affect our cash flow requirements, which in turn may adversely affect our ability to operate our business and implement our growth plans, thereby affecting our financial condition.
- Risks Relating to the Business: Non-issuance of NOCs from Unsecured Lenders for the proposed IPO of the Company.
- Risks Relating to the Business: Our revenue is dependent on domestic market, more specifically the States of Assam, Andhra Pradesh, Telangana, Odisha, West Bengal, Bihar, Rajasthan and Haryana and we have no export revenue. Any adverse changes in the conditions affecting domestic market could adversely affect our business, results of operations and financial condition.
- Risks Relating to the Business: Entities in which our Promoters have or may in the future have an interest are or may be engaged in businesses similar to that of our Company, which could lead to common pursuits, potential conflicts of interest, which may adversely affect our business operations, financial condition, results of operations and future prospects.
- Risks Relating to the Business: Unsecured loans taken by the Company can be recalled at any time.
- Risks Relating to the Business: Any disruption, breakdown or shutdown of the company's manufacturing facility may have a material adverse effect on its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: Any disruption or shutdown of the company godowns, or failures to achieve optimal capacity utilisation at such godowns could adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: Information relating to the historical installed capacities of the company's Manufacturing Facility included in this Red Herring Prospectus may be based on certain assumptions and estimates by the Independent Chartered Engineer verifying such information and future production and capacity utilisation may vary.
- Risks Relating to the Business: The Company and Promoters are party to certain litigation and tax proceedings. Any adverse decision in such proceedings may have a material adverse effect on the company's business, results of operations and financial condition.
- Risks Relating to the Business: The company does not own the registered office and manufacturing facility from which its carry out the company's business activities. In case of nonrenewal of rent agreements or dispute in relation to uses of the said premise, the company's business and results of operations can be adversely affected.
- Risks Relating to the Business: The activities carried out at the company's manufacturing facility can cause injury to people or property in certain circumstances.
- Risks Relating to the Business: Unavailability or shortage of labour may have an adverse impact on the company's business and results of operations.
- Risks Relating to the Business: Any unscheduled, unplanned or prolonged disruption of the company's manufacturing operations, such as, strikes and lockouts, could materially and adversely affect its business, financial condition and results of operations.
- Risks Relating to the Business: The company is required to maintain certain licenses, approvals, registrations, consents and permits in the ordinary course of business. Failures to obtain the requisite approvals result in non-compliance and therefore, affect the company's business operations, financial condition, result of operations and prospects.
- Risks Relating to the Business: The company has not complied with the applicable requirements under the Labour Welfare Fund Act(s) in various states, and such non-compliance may expose it to penalties and other regulatory actions.
- Risks Relating to the Business: Delay/ default in payment of statutory dues may attract penalties and in turn have an adverse impact on the company's financial condition.
- Risks Relating to the Business: The company's inability to effectively manage its growth or to successfully implement the company's business plan and growth could have an adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: The company is subject to several labour legislations and regulations governing welfare, benefits and training of its employees. Any increase in wage and training costs could adversely affect the company's business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company's insurance cover may not be adequate or its may incur uninsured losses or losses in excess of the company's insurance coverage which could adversely affect its results of operations and financial condition.
- Risks Relating to the Business: The company may not be able to adequately protect or continue to uses its intellectual property. Further, the company's intellectual property rights may be difficult to enforce and protect, which could enable others to copy or uses aspects of its technology without compensating the company, thereby eroding its competitive advantages.
- Risks Relating to the Business: The company's Promoter has extended personal guarantees with respect to various loan facilities availed by the Company. Revocation of any or all of these personal guarantees may adversely affect its business operations and financial condition.
- Risks Relating to the Business: The company's Promoters, Directors and Key Managerial Personnel may have an interest in the Company other than reimbursement of expenses incurred or normal remuneration or benefits.
- Risks Relating to the Business: The success of the company's business depends substantially on its Promoters, Directors, Key Managerial Personnel and the company's employees. Its inability to retain them, or to recruit skilled technical personnel that are necessary for the company's business could adversely affect its business.
- Risks Relating to the Business: The company faces competition that may result in a loss of its market share and/or a decline in the company profitability.
- Risks Relating to the Business: The company has used information from the B2K Industry Report which its commissioned for industry related data in this Red Herring Prospectus and any reliance on information therein is subject to inherent risks.
- Risks Relating to the Business: The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidence could adversely affect the company's financial condition, results of operations and reputation.
- Risks Relating to the Business: The company has experienced significant working capital requirements in past and may continue to experience in future also. If the company experience insufficient cash flows from its operations or are unable to borrow to meet the company's working capital requirements, it may materially and adversely affect its business, cash flows and results of operations.
- Risks Relating to the Business: In addition to the company's existing indebtedness for its existing operations, the company may incur further indebtedness during the course of business. Its cannot assure that the company would be able to service its existing and/ or additional indebtedness.
- Risks Relating to the Business: The company may be unable to perform background verification procedures on its employees prior to hiring. Any instances of illegal or fraudulent activities by such personnel may have an adverse effect on the company's reputation, results of operations, cash flows and business prospects.
- Risks Relating to the Business: The company is exposed to the risk of delays or non-payment by its customers and other counterparties, which may also result in cash flow mismatches.
- Risks Relating to the Business: The company's lenders have impose certain restrictive conditions on it under the company's financing arrangements. Its inability to meet the company's obligations, including financial and other covenants under its debt financing arrangements could adversely affect the company's business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company has entered into certain related party transactions in the past and may continue to do so in the future.
- Risks Relating to the Business: The Company may not be able to pay dividends in the future. The company's ability to pay dividends in the future will depends upon its future earnings, financial condition, profit after tax available for distribution, cash flows, working capital requirements and capital expenditure and the terms of the company's financing arrangements.
- Risks Relating to the Business: The company's actual results could differ from the estimates and projections used to prepare its financial statements.
