Shanti Inorganics, a manufacturer and supplier of sulphur-based inorganic chemicals, has announced the price band for its IPO. The issue is scheduled to open on Monday, August 31, and will remain open for bidding until Wednesday, September 2.
The company aims to raise ₹47.23 crore at the upper price band, with its equity shares proposed to be listed on the NSE Emerge platform. The issue comprises 5,691,200 equity shares with a face value of ₹10 each, offered at a price band of ₹79– ₹83 per equity share.
The net proceeds from the IPO will be utilised for part-funding the capital expenditure for setting up a new manufacturing facility at Bavla, Ahmedabad, Gujarat. The proposed facility will manufacture sodium metabisulphite, sodium bisulphite and ammonium bisulphite. The remaining proceeds from the issue are proposed to be utilised for general corporate purposes.
Anchor investor bidding is scheduled to take place on Friday, August 28, 2026. Vivro Financial Services Private is the book-running lead manager to the issue, while KFin Technologies is the registrar to the issue.
Avnish Manojkumar Patel, Joint Managing Director of Shanti Inorganics Limited, expressed, “The Initial Public Offering of Shanti Inorganics represents an important step in the evolution of our company and reflects the progress we have made in building a diversified sulphur-based inorganic chemicals manufacturing platform. Over the years, we have steadily strengthened our manufacturing capabilities and broadened our product portfolio. Today, it includes ammonium bisulphite, sodium bisulphite, sodium metabisulphite and sodium sulphite.”
About Shanti Inorganics
Shanti Inorganics is a manufacturer and supplier of sulphur-based inorganic chemicals, with existing manufacturing facilities at Vatva and Bavla Phase I, Ahmedabad. Its product portfolio includes ammonium bisulphite, sodium bisulphite, sodium metabisulphite and sodium sulphite, serving more than 10 application industries, including food and beverages, chemicals, oil drilling, pharmaceuticals, ceramics, agrochemicals, water treatment, petrochemicals, cosmetics, paints, polymers, boilers and mining.
The company serves customers across domestic and international markets, with its products exported to 15 countries. It has an installed manufacturing capacity of 18,800 MTPA at Vatva and 18,000 MTPA under Phase I at Bavla, with a proposed additional capacity of 78,544 MTPA under Phase II at Bavla.
In terms of financial performance, the company achieved revenue of ₹7,122.02 lakh in FY26, EBITDA of ₹1,539.72 lakh and PAT of ₹1,022.00 lakh. For the two-month period ended May 31, 2026, the company achieved revenue of ₹1,598.27 lakh, EBITDA of ₹402.17 lakh and PAT of ₹249.96 lakh.
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