Shellz India Limited (SME)

Minimum Investments

₹2,72,000

Price Range

₹170 - ₹179

Issue Size

₹59.97 Cr

Lot Size

800shares

This stock belongs to the SME (Small & Medium Enterprises) segment which usually has low liquidity and hence, is also riskier. It will be traded in a lot size of 800 shares after listing.

Proceeds of this IPO to be used for

Repayment or prepayment, in full or in part, of certain outstanding borrowings availed by the company

Funding their incremental working capital requirements

General corporate purposes

Strengths & Weaknesses

Extensive stockist network

The company utilizes a super stockist-led distribution model with over 200 super stockists, enabling extensive reach across urban, semi-urban, and rural markets in India. This scalable and cost-efficient network supports broad product availability, efficient market coverage, and geographic expansion while allowing the company to focus on manufacturing and product development

Diversified product portfolio

The company develops differentiated confectionery products across multiple categories, formats, and price points, catering to diverse consumer preferences and consumption occasions. Its portfolio includes innovative offerings and premium products under the Tosca brand, enabling it to serve both mass-market and premium segments while expanding its product reach

Integrated manufacturing capabilities

The company’s product development is supported by an in-house team of food and packaging technologists who manage formulation, testing, packaging design, and commercialization. This integrated approach enables efficient product innovation, seamless coordination with manufacturing, and consistent quality across product categories and formats

Food safety & quality risk

The company is exposed to risks of product contamination, deterioration, labeling errors, improper storage, and non-compliance with food safety standards throughout its supply chain and manufacturing process. Any such incident could result in regulatory action, legal liability, reputational damage, product recalls, and adverse effects on business performance and financial results

Regulatory risks

The company is subject to various food safety, environmental, health, and operational regulations governing its manufacturing activities. Any failure to comply with applicable laws, standards, or licensing requirements could result in penalties, regulatory actions, operational disruptions, and adverse effects on its business, financial condition, and results of operations

Competition

The company operates in a highly competitive and price-sensitive confectionery market, facing competition from organized, regional, multinational, and unorganized players. Intense pricing pressure may limit its ability to increase product prices, potentially affecting sales volumes, market share, profit margins, cash flows, and overall financial performance

Financials

Income Statement

Also called a profit and loss statement, an income statement shows a company’s income, expenses, and how much profit or loss it has made over a specific accounting period. It provides a clear view of how well the business is running.

Particulars (in Cr)	Mar 2026	Y/Y Change
Operating Revenue	192.62	-
Other Income	0.57	-
Total Income	193.18	-
Total Expenditure	173.89	-
EBIDT	32.20	-
Depreciation	3.60	-
Interest	9.30	-
Tax	5.92	-
Net Profit	13.37	-

Balance Sheet

A balance sheet is a financial statement that details a company’s assets, liabilities, and shareholders’ equity at a given time. It helps assess how financially strong and stable the company is.

Particulars (in Cr)	Mar 2026
Total Current Assets	155.90
Total Non-Current Assets	57.83
Fixed assets	50.41
Total Assets	213.72
Total Current liabilities	108.40
Total Non Current Liabilities	46.38
Total Equity Plus Liabilities	213.72
Total Shareholder Funds	58.95
Total Debt to Equity	171.00%

Cash Flow

Cash flow highlights the cash or cash equivalents moving in and out of a company during a particular period. It provides a clear picture of how well a company manages its cash by tracking its operating, investing and financing activities.

Particulars (in Cr)	Mar 2026
Cash from Operating Activity	-11.31
Cash from Financing Activities	19.45
Cash from Investing Activities	-7.02
Net Cash Flow	1.12

About the Company

Shellz India was incorporated on May 07, 2012. The company manufactures and markets a wide range of confectionery products in India, offering over 250 SKUs across categories such as chocolates, jellies, baked treats, and other confectionery formats. It also supplies food and bakery ingredients, focusing on affordable products distributed across urban, semi-urban, rural, and smaller-town markets

Promoter
Kapil Garg
Promoter
Shalini Garg

FAQs for Shellz India Limited IPO

Shellz India Limited IPO refers to the initial public offering of shares by Shellz India Limited. It is a process by which the company offers its shares to the public for the first time, allowing individuals to become shareholders.

For Shellz India Limited IPO the issue size is ₹60 Cr. The issue size is the total value of the shares offered to the public. It represents the amount the company aims to raise through the IPO.

For Shellz India Limited IPO the minimum investment is ₹2.7 L. The minimum investment for Shellz India Limited IPO is the smallest amount an individual can invest to participate in the offering. It is usually determined by the company and regulatory requirements.

For Shellz India Limited IPO the lot size is 800 shares. The lot size of Shellz India Limited IPO refers to the number of shares that investors need to bid for and purchase in a single transaction. It is predetermined by the company and regulators.

To apply for Shellz India Limited IPO on PhonePe Invest, go to the home page section and click/press on the browse IPOs section to view the open and upcoming IPOs. Select the Shellz India Limited IPO from the list and click on apply now. Place your bids or choose the Cut-off Price option. Enter your UPI ID and set up your mandate to place your application.

Yes, investors can often pre-apply for some of the IPOs. Pre-application allows individuals to express their interest in participating in the IPO before the official subscription period begins. To pre- apply for Shellz India Limited IPO on PhonePe Invest, go to the home page section and click/press on the browse IPOs section to view the open and upcoming IPOs. Select the Shellz India Limited IPO from the list and click on pre-apply now. Once the IPO opens for subscription you can enter your UPI ID and set up your mandate to place your application.

The IPO application window typically remains open for 3 days, starting from the date of the IPO opening. However, this duration can vary depending on the specific IPO and the regulatory requirements.

You can apply for the IPO till 3 PM on the last day of application on PhonePe Invest.

For Shellz India Limited IPO the allotment date is 21 Oct 2026. The allotment date of Shellz India Limited IPO is the date on which shares are allocated to the successful bidders. It marks the distribution of shares to investors.

For Shellz India Limited IPO, the subscription opens on 15 Oct 2026 and closes on 19 Oct 2026. The open and close dates of an IPO indicate the period during which investors can submit their bids to participate in the offering.