SHELLZ INDIA LIMITED

15 Oct 2026 - 19 Oct 2026 SME BSE

Min Investment

₹2,86,400.00

Price Band

₹170-₹179

Issue Size

₹43.78 Cr

Lot Size

800 (per lot)

IPO Dates
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15 Oct 2026

Open Date

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19 Oct 2026

Close Date

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21 Oct 2026

Allotment Date

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23 Oct 2026

Listing Date

Know Before Investing

Strengths icon

  • Diverse confectionery product portfolio.
  • Extensive North Indian distribution network.
  • Efficient in-house packaging capabilities.
  • Strong mass-market segment presence.
  • Significant capacity with expansion plans.

Weaknesses icon

  • Heavy reliance on North Indian markets.
  • Intense mass-market pricing competition.
  • Vulnerability to raw material cost volatility.
  • Lack of long-term customer/supplier contracts.
  • Regulatory compliance and licensing risks.

About Shellz India Limited

Shellz India is a manufacturer of confectionery products operating primarily in the mass-market segment with price points below ₹10. The company caters to price-sensitive consumers across Tier II and Tier III cities, maintaining a significant geographic focus on the North Indian market, which contributes the majority of its sales. Its core product portfolio comprises baked treats, choco delights, jellies, panned and sugar candies, alongside food and bakery ingredients. The business generates revenue mainly through the sale of these products under its primary brands, Hugs and Tosca. To reach consumers, the company relies on a distribution network of super stockists who supply local distributors, wholesalers, and retail outlets. Shellz India conducts manufacturing operations from its Delhi facility, while working to consolidate production capacity at a new facility in Sonipat, Haryana. Furthermore, it has undertaken backward integration by producing packaging materials in-house for captive consumption.

IPO Objectives

1. Repayment or prepayment, in full or in part, of certain outstanding borrowings availed by our Company;

2. Funding our incremental working capital requirements; and

3. General corporate purposes.

Company Promoters

Kapil Garg

Shalini Garg

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 41.92
Non-Institutional Buyers 50.47
Retail Investors 56.09
Total 148.48
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