Shanti Inorganics IPO: Price Band Set, Opens Aug 31
By ThePip Desk
Shanti Inorganics sets IPO price band at Rs 79-83, opening August 31, 2026, on NSE SME Platform. Details on shares, dates, and company operations.
Shanti Inorganics set its initial public offering (IPO) price band between Rs 79 and Rs 83 per equity share, with the public offer opening on August 31, 2026.
Key IPO Details
- Shares offered: 56,91,200
- Price band: Rs 79 – 83 per share
- Face value: Rs 10
- Issue open date: August 31, 2026
- Issue close date: September 2, 2026
- Listing platform: SME Platform of NSE
The shares are priced 7.90 times their face value on the lower side and 8.30 times on the higher side. Vivro Financial Services serves as the book running lead manager, and Maulik S Bhavsar is the compliance officer for the issue.
Company Operations
Shanti Inorganics specializes in manufacturing and supplying sulphur-based inorganic chemicals. The company boasts one of the largest domestic production capacities for bisulphites, reaching 18,800 MTPA.
- Product portfolio includes: ammonium bisulphite solution, sodium bisulphite powder or solution, sodium meta bisulphite, and sodium sulphite powder/anhydrous.
- These chemicals are used as: preservatives, reducing agents, oxygen scavengers, and process intermediates.
- Industries served: food and beverages, chemicals, oil drilling, pharmaceuticals, ceramics, agrochemicals, water treatment, petrochemicals, cosmetics, paints, polymers, boilers, and mining.
Growth and Strategic Shifts
Since its incorporation in 2010, Shanti Inorganics has steadily expanded its production capabilities. Initially, it focused on sodium bisulphite powder, later adding liquid forms and sodium metabisulphite.
By Fiscal 2016, the company introduced ammonium bisulphite solutions to its product line. A key operational change in Fiscal 2019 involved transitioning from sulphur burning furnaces to procuring liquefied sulphur dioxide (SO2), which enhanced efficiency and environmental compliance.
Utilisation of IPO Proceeds
The capital raised from the IPO will be directed towards two primary objectives.
- Part-funding capital expenditure for a new manufacturing facility at Bavla, Ahmedabad, Gujarat, which will produce sodium meta bisulphite, sodium bisulphite powder, and ammonium bisulphite.
- General corporate purposes.