Shellz India IPO GMP Today

The issue

Shellz India Limited manufactures and markets confectionery products and bakery ingredients, operating manufacturing facilities in Delhi and Sonipat, Haryana. Its portfolio features over 300 SKUs across baked treats, choco delights, jellies, and candies sold largely under its mass-market brand 'Hugs' and premium brand 'Tosca'. The company sells across approximately 24 states through a network of over 300 super stockists, focusing primarily on mass-market consumers.

Shellz India Limited is a SME issue on BSE. The price band is ₹170–₹179. One lot is 800 shares, and the smallest application is 2 lots (1,600 shares, ₹2,86,400 at the top of the band). The issue size is ₹59.97 crore.

The issue is an entirely fresh issue of ₹59.97 crore. Net proceeds will be used to prepay or repay outstanding borrowings (₹22.00 crore), fund incremental working capital requirements (₹23.00 crore), and support general corporate purposes.

For FY26, total income increased 3.13% to ₹193.26 crore from ₹187.39 crore in FY25. Profit after tax (PAT) grew 57.90% to ₹13.11 crore in FY26 compared to ₹8.30 crore in FY25.

Shellz India listed on 23 Oct 2026 at 0.00% over the ₹179 issue price. The last grey-market premium before listing was +₹7 (+3.91%), so the listing came in below what the grey market implied.

Latest overall subscription on this edition is 58.54×. A multiple above 1.00× means applications for more shares than are on offer; it does not mean you will get shares. Retail allotment in an oversubscribed category is a lottery for one lot. The split across QIB, NII and retail is omitted unless it belongs to the same snapshot as this total.

The company depends heavily on its 'Hugs' brand for nearly 90% of its revenue and does not have long-term contracts with its customers, with the top 10 customers generating over 62% of revenue in FY26. It also faces risks from raw material cost volatility, geographic concentration in North India, and potential disruptions from consolidating manufacturing into its Sonipat plant.

The timetable on the record is open 15 Oct 2026, close 19 Oct 2026, allotment 21 Oct 2026, listing 23 Oct 2026. Bigshare Services is the registrar. Check allotment on their site with your PAN after the basis is out. After listing, this page stays up. The grey-market mark becomes history, and the listing print replaces the expected-listing sketch. Do not apply because a premium looks large. Read the prospectus.

Company profile: AI analysis of the offer document and news coverage (2 Nov 2026). Sources: goodreturns.in, valueresearchonline.com, ipo360.in, m.economictimes.com, economictimes.indiatimes.com. Check the offer document before relying on a figure.