Shivchem Agro IPO Date & Timeline
Tentative schedule from the RHP.
Shivchem Agro IPO Subscription Status
From NSE + BSE bid data, excluding the anchor portion.
Day-wise subscription
| Day | QIB | bHNI | sHNI | NII total | Individual | Total |
|---|---|---|---|---|---|---|
| Shares offered | 1,08,000 | 6,76,000 | 3,38,000 | 10,14,000 | 10,24,000 | 21,46,000 |
| Day 1 · Sep 28 | 0.00× | 0.17× | 0.07× | 0.14× | 0.10× | 0.11× |
| Day 2 · Sep 29 | 0.00× | 0.97× | 0.20× | 0.71× | 0.68× | 0.66× |
| Day 3 · Sep 30 | 1.00× | 1.14× | 1.08× | 1.12× | 3.50× | 2.25× |
Shivchem Agro IPO Details
Checked against the RHP and cross-checked on NSE and BSE.
| IPO date | Sep 28 – 30, 2026 |
| Price band | ₹59 – 62 per share |
| Face value | ₹5 per share |
| Lot size | 2,000 shares |
| Total issue size | 22,60,000 shares ₹14.01 Cr |
| Fresh issue | 22,60,000 shares ₹14.01 Cr |
| Issue type | Book Built · SME |
| Listing at | BSE SME |
| Market cap | ≈ ₹46.70 Cr |
| Promoter holding | 92.73% → 64.91% |
| Lead manager | Shannon Advisors Pvt. Ltd. |
| Market maker | Nikunj Stock Brokers Ltd. |
| Registrar | Maashitla Securities Pvt. Ltd. |
Offer documents
Shivchem Agro IPO Lot Size
Minimum and maximum bids by investor type at the upper band of ₹62.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual (min) | 2 | 4,000 | ₹2,48,000 |
| Individual (max) | 2 | 4,000 | ₹2,48,000 |
| sHNI (min) | 3 | 6,000 | ₹3,72,000 |
| sHNI (max) | 8 | 16,000 | ₹9,92,000 |
| bHNI (min) | 9 | 18,000 | ₹11,16,000 |
Shivchem Agro IPO Reservation
Shares set aside for each category, and the maximum number of applicants who can get an allotment.
| Category | Shares offered | % of issue | Max. allottees |
|---|---|---|---|
| Market maker | 1,14,000 | 5% | — |
| QIB | 1,08,000 | 4.8% | — |
| NII (HNI) | 10,14,000 | 44.9% | — |
| ↳ bHNI (>₹10L) | 6,76,000 | 29.9% | — |
| ↳ sHNI (₹2–10L) | 3,38,000 | 15% | — |
| Individual investors | 10,24,000 | 45.3% | — |
| Total | 22,60,000 | 100% |
Shivchem Agro Financials (FY24 – FY26)
Restated consolidated figures from the RHP, ₹ crore. Years end March 31.
Financial statement
| ₹ Cr | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Revenue | 10.95 | 27.50 | 33.84 | +23.1% |
| EBITDA | 1.93 | 4.32 | 5.98 | +38.4% |
| Profit after tax | 1.29 | 2.60 | 3.25 | +25.0% |
| Total assets | 16.41 | 36.29 | 45.04 | +24.1% |
| Net worth | 1.50 | 9.67 | 12.92 | +33.6% |
| Reserves & surplus | 1.45 | 7.04 | 10.28 | +46.0% |
| Total borrowing | 7.10 | 8.26 | 7.28 | −11.9% ✓ |
Shivchem Agro IPO Valuation & Peer Comparison
At the upper band of ₹62. Peers from the RHP "Basis for Offer Price".
Peer comparison
| Company | P/E | P/B | RoNW |
|---|---|---|---|
| Shivchem Agro | 10.1× | 2.53× | 28.76% |
| Supee Crop Safe Ltd. | 27.8× | — | 6.69% |
| Sikko Industries Ltd. | 15.2× | — | 5.92% |
About Shivchem Agro
Business profile from the RHP.
- 2021Incorporated · New Delhi; plant at Jhajjar, Haryana
- 176Licensed agrochemical products
- 685Distributors across 8 states (Mar 31, 2026)
- 66Permanent employees
Promoters & holding
Rohit Agarwal, Sachin Agarwal, Deepa Agarwal
Objects of the issue
Shivchem Agro IPO Review: Should You Apply?
Our 100-point score, and both sides of the case.
Our view: Steady revenue and profit growth, ~29% return on equity and a ~14× post-issue P/E below listed peers are positives. The concerns are a four-year-old, small agrochemical formulator with meaningful debt, weather-dependent demand and conflicting disclosures on how the IPO money will be split.
- Revenue up from ₹11 Cr (FY24) to ₹33.8 Cr (FY26), with profit rising each year to ₹3.25 Cr.
- Good returns for its size: RoE ~29%, RoCE ~30%, EBITDA margin ~18%.
- Priced at ~14× post-issue earnings, below the listed peers named (~15–28×).
- Broad licensed range (176 agrochemical products) and a growing distributor network (685 across 8 states).
- Very young (incorporated 2021) and small company; the fast growth has a short track record.
- Borrowings of ₹7.3 Cr against ₹12.9 Cr net worth (D/E ~0.56); business is working-capital heavy.
- Agrochemical demand depends on monsoon, crop conditions and pricing by much larger rivals.
- Sources disagree on how the IPO money is split (one set of figures adds up to more than the ₹14 Cr issue); not verified against the RHP.
- SME listing: thin liquidity, and applications need at least 2 lots (₹2.48 lakh).
Shivchem Agro Listing Performance Updates after Oct 6
We close the loop: issue vs listing price, and whether our call was right.
Shivchem Agro IPO Allotment Status & Contact Details
Allotment was finalised on Oct 1. Check it with your PAN or application number.
Maashitla Securities Pvt. Ltd.
- Phone
- 011-45121795
- investor.ipo@maashitla.com
- Website
- maashitla.com
Shivchem Agro Ltd.
- Address
- Unit No. 703-704, Amba Tower, Plot No. 2, Community Centre, D.C. Chowk, Sector-9, Rohini, North West Delhi, New Delhi 110085
- Phone
- +91 11 46008555
- compliance@shivchemagro.com
- Website
- shivchemagro.com
Shivchem Agro IPO FAQs
GMP, price, lot size, dates, allotment and how to apply.
What is Shivchem Agro IPO?
Shivchem Agro IPO is a ₹14.01 Cr SME book built issue, entirely a fresh issue. The shares will list on BSE SME.
What is the price band of Shivchem Agro IPO?
The price band is ₹59 – ₹62 per equity share of face value ₹5.
What is the lot size of Shivchem Agro IPO?
The minimum lot is 2,000 shares. Individual investors must apply for exactly 2 lots (4,000 shares).
What is the minimum investment for Shivchem Agro IPO?
The minimum individual investment is ₹2,48,000 (4,000 shares at ₹62).
When does Shivchem Agro IPO open and close?
The IPO opens on Sep 28, 2026 and closes on Sep 30, 2026.
What is the allotment date of Shivchem Agro IPO?
The basis of allotment is finalised on Oct 1, 2026. Refunds and demat credit are expected on Oct 5, 2026.
When will Shivchem Agro IPO be listed?
The tentative listing date is Oct 6, 2026 on BSE SME.
What is Shivchem Agro IPO subscription status?
At close (Sep 30 · 5:57 PM IST), the issue was subscribed 2.25× overall — QIB 1.00×, bHNI 1.14×, sHNI 1.08×, Individual 3.50×.
What is the P/E ratio and valuation of Shivchem Agro IPO?
At the upper band, the P/E is 10.1× pre-issue and 14.4× post-issue, with a market cap of about ₹46.70 Cr. Listed peers include Supee Crop Safe Ltd. (27.8×) and Sikko Industries Ltd. (15.2×).
Should I apply for Shivchem Agro IPO?
IPOSignal's view is Proceed with Caution · Cheap but Small & Leveraged (56/100). Steady revenue and profit growth, ~29% return on equity and a ~14× post-issue P/E below listed peers are positives. The concerns are a four-year-old, small agrochemical formulator with meaningful debt, weather-dependent demand and conflicting disclosures on how the IPO money will be split. This is research, not investment advice.
How to check Shivchem Agro IPO allotment status?
Check on the registrar Maashitla Securities Pvt. Ltd.'s site (maashitla.com/allotment-status/public-issues), or on the BSE / NSE allotment pages, using your PAN or application number.
Who is the registrar and lead manager of Shivchem Agro IPO?
The registrar is Maashitla Securities Pvt. Ltd.. The book-running lead manager is Shannon Advisors Pvt. Ltd.. The market maker is Nikunj Stock Brokers Ltd..