Shah Investor's Home IPO 2026: Details, Price Band, GMP, Financials & IPO Analysis

Shah Investor's Home IPO is a mainboard IPO of ₹90.17 crore in the Financial Institution sector. The issue consists entirely of a fresh issue and is scheduled to open for subscription on September 28, 2026, and close on September 30, 2026. The shares are proposed to list on BSE and NSE on October 6, 2026.

The IPO price band has been fixed at ₹159 to ₹167 per share, with a lot size of 85 shares. Retail investors need a minimum investment of ₹14,195 at the upper price band.

Shah Investor's Home is a retail broking company offering equity and derivatives brokerage, IPO services, mutual fund distribution, margin funding, and stock lending and borrowing services. The company primarily serves retail customers, including resident and non-resident Indians.

Shah Investor's Home IPO Details

Shah Investor's Home IPO Timeline

All dates are tentative and subject to change.

Shah Investor's Home IPO GMP

As of September 23, 2026, the reported Shah Investor's Home IPO GMP is ₹0. Based on the upper price band of ₹167 and the reported GMP, the indicative listing price would be approximately ₹167.

GMP is based on unofficial grey-market activity and can change before listing. It should not be considered a guaranteed indicator of the actual listing price.

Shah Investor's Home IPO Subscription Status

The IPO is scheduled to open on September 28, 2026. Therefore, live subscription figures are not available yet.

Subscription data will become available after bidding begins.

Day-wise Subscription Trend

The issue has not opened yet, so day-wise subscription figures are currently unavailable.

Current Subscription

Shah Investor's Home IPO subscription has not started yet. The issue will open on September 28, 2026, after which category-wise subscription data can be tracked.

Shah Investor's Home IPO Lot Size

The minimum bid is 85 shares, and investors can bid in multiples of 85 shares.

Shah Investor's Home IPO Reservation

About Shah Investor's Home

Shah Investor's Home Ltd., incorporated in 1994, is a retail broking company providing financial market services to retail customers.

The company's services include equity brokerage, derivatives brokerage, IPO investing, mutual fund distribution, margin funding and stock lending and borrowing services under the "Shah Investors" brand.

Its primary business is secondary-market brokerage for resident and non-resident Indian retail customers. The company focuses on facilitating the purchase and sale of securities while also providing related financial services.

As of March 31, 2025, Shah Investor's Home had more than 100,000 demat accounts and over 37,810 active clients. It also had partnerships with more than 184 authorised persons.

The company operates through 11 branches across India, with a presence in Mumbai, Ahmedabad, Vadodara, Junagadh, Gandhinagar and Rajkot.

Shah Investor's Home IPO Objectives

The company proposes to use the net IPO proceeds primarily for working capital and general corporate purposes.

Note: The supplied source lists ₹700 crore against working capital, which is higher than the ₹90.17 crore total issue size. This figure appears inconsistent with the issue size and should be verified against the final offer document before publication.

Shah Investor's Home Financial Performance

The company has reported consistent growth in income and profitability across the financial years presented.

Total income increased from ₹52.33 crore in FY23 to ₹94.47 crore in FY25, while PAT increased from ₹7.40 crore to ₹23.42 crore over the same period.
EBITDA also increased from ₹11.15 crore in FY23 to ₹35.31 crore in FY25, indicating improvement in operating profitability.
Borrowings remained relatively low at ₹5.71 crore in FY25 compared with the company's net worth of ₹168.09 crore.

Shah Investor's Home Key Financial Ratios

The company reported a PAT margin of 24.76% and EBITDA margin of 37.46% for FY25. Its reported debt-to-equity ratio was only 0.03%, indicating relatively low leverage based on the supplied figures.

Shah Investor's Home IPO Valuation

The supplied IPO data provides promoter holding but does not provide a complete pre-IPO and post-IPO valuation table.

The company reported FY25 EPS of ₹14.84, NAV of ₹106.70 and RoNW of 13.91% in the supplied peer-comparison data.
Investors should compare the IPO price of ₹167 with the company's earnings, NAV, peer multiples and the final valuation disclosed in the offer documents.

Shah Investor's Home Promoter Holding

The promoters listed in the supplied information are:

• Upendra Trikamlal Shah
• Purnima Upendra Shah
• Tanmay Upendra Shah
• Trupti Utpal Shah

The reported promoter holding before the IPO is 84.34%.

Shah Investor's Home Peer Comparison

The following figures are based on the supplied DRHP/RHP data.

The peer comparison shows that Shah Investor's Home has a reported RoNW of 13.91%, compared with 15.27% for Arihant Capital Markets, 14.04% for Share India Securities and 11.97% for SMC Global Securities.

The comparison should be considered alongside differences in scale, customer base, product mix, technology capabilities and valuation.

Competitive Strengths of Shah Investor's Home

Established Brokerage Business

The company has operated since 1994, giving it a long operating history in the retail broking segment.

Large Client Base

More than 100,000 demat accounts and over 37,810 active clients provide an established customer base.

Regional Presence

The company's branch network covers key locations in Gujarat as well as Mumbai.

Diversified Financial Services

In addition to brokerage, Shah Investor's Home provides mutual fund distribution, margin funding and stock lending and borrowing services.

Low Leverage

The reported debt-to-equity ratio of 0.03% indicates low financial leverage based on the supplied FY25 figures.

Risks Investors Should Consider

• Market dependence: Brokerage income can be affected by trading volumes, market activity and investor participation.
• Competition: The retail broking industry has strong competition from established full-service and digital brokerage platforms.
• Technology requirements: Customers increasingly expect fast, reliable and feature-rich digital platforms.
• Regulatory changes: Brokerage and financial services businesses operate under extensive regulatory requirements.
• Revenue sensitivity: Trading activity and market sentiment can affect transaction volumes and fee income.
• Regional concentration: The company has a strong presence in Gujarat, which may create geographic concentration.
• IPO objective data discrepancy: The supplied IPO objective lists ₹700 crore for working capital against a ₹90.17 crore issue size. This should be verified from the final offer document.

Should You Invest in Shah Investor's Home IPO?

Shah Investor's Home IPO can be assessed through its operating history, client base, financial performance, leverage and valuation.

The company has operated in the broking industry since 1994 and has established a sizeable retail customer base, with more than 100,000 demat accounts and over 37,810 active clients as of March 31, 2025. Its financial performance also shows growth in income, EBITDA and PAT between FY23 and FY25.

The company reported relatively low borrowings and a debt-to-equity ratio of 0.03% in FY25. Its diversified services across equity and derivatives brokerage, IPOs, mutual funds, margin funding and stock lending provide multiple revenue streams within the financial-services ecosystem.

At the same time, the business remains exposed to market activity, trading volumes, regulatory changes and competition from technology-driven brokerage platforms. Investors should also verify the IPO-objective figures because the supplied ₹700 crore working-capital requirement does not align with the ₹90.17 crore issue size.

The reported GMP is ₹0 as of September 23, 2026, so there is currently no grey-market premium indication to consider. Investors should evaluate the final IPO valuation, earnings, peer multiples and offer-document disclosures before making a decision.

Shah Investor's Home IPO Allotment Status

The tentative basis of allotment date is October 1, 2026.

The tentative schedule is:

• Allotment: October 1, 2026
• Refunds: October 5, 2026
• Demat Credit: October 5, 2026
• Listing: October 6, 2026

After the allotment is finalized, investors can check their application status through the IPO registrar using the required application or PAN details.

Shah Investor's Home IPO Registrar

• MUFG Intime India Pvt. Ltd.
• Address: LBS Marg, Vikhroli (West), Mumbai
• Phone: 022-49186000
• Email: shahInvestors.ipo@in.mpms.mufg.com

Shah Investor's Home IPO Lead Manager

JDA Capital Services Ltd. is the listed book-running lead manager for the IPO.

Shah Investor's Home Company Details

• Company: Shah Investor's Home Ltd.
• Registered Office: 810, X-Change Plaza, DSCCSL (53E), Road 5E, Block 53, Zone 5, GIFT City, Gandhinagar, Gujarat – 382050
• Website: sihl.in
• Phone: +91 9904053335
• Email: company.secretary@sihl.in

Shah Investor's Home IPO Summary

Shah Investor's Home IPO is a ₹90.17 crore fresh issue scheduled to open from September 28 to September 30, 2026, with listing planned for October 6, 2026. The price band is ₹159–₹167 per share and the minimum lot size is 85 shares, requiring ₹14,195 at the upper price band. 

Shah Investor's Home is a retail broking company incorporated in 1994 and provides equity and derivatives brokerage, IPO services, mutual fund distribution, margin funding and stock lending and borrowing services. The company had more than 100,000 demat accounts and over 37,810 active clients as of March 31, 2025. Total income increased from ₹52.33 crore in FY23 to ₹94.47 crore in FY25, while PAT increased from ₹7.40 crore to ₹23.42 crore. 

As of September 23, 2026, the reported GMP is ₹0 and subscription data is not yet available because bidding has not started.

Shah Investor's Home IPO FAQs

What is the Shah Investor's Home IPO size?

The IPO size is ₹90.17 crore, consisting entirely of a fresh issue.

What is the Shah Investor's Home IPO price band?

The price band is ₹159 to ₹167 per share.

What is the Shah Investor's Home IPO lot size?

The minimum lot size is 85 shares, requiring ₹14,195 at the upper price band.

When will Shah Investor's Home IPO open?

The IPO will open on September 28, 2026.

When will Shah Investor's Home IPO close?

The IPO will close on September 30, 2026.

What is the Shah Investor's Home IPO listing date?

The tentative listing date is October 6, 2026 on BSE and NSE.

What is the Shah Investor's Home IPO GMP today?

As of September 23, 2026, the reported GMP is ₹0.

What are the objectives of the Shah Investor's Home IPO?

The supplied data states that the proceeds are intended for working capital requirements and general corporate purposes. The ₹700 crore working-capital figure should be verified against the final offer document because it exceeds the total issue size.

Who is the registrar of Shah Investor's Home IPO?

MUFG Intime India Pvt. Ltd. is the IPO registrar.

Who is the lead manager of Shah Investor's Home IPO?

JDA Capital Services Ltd. is the listed book-running lead manager.

Is Shah Investor's Home IPO subscription open?

No. The IPO is scheduled to open on September 28, 2026, so live subscription data is not available yet.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. IPO details, financial figures, GMP, dates and other information may change based on regulatory filings and market conditions. Investors should review the official offer documents and conduct their own due diligence before making any investment decision.
 

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.

She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.

Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.