Shanti Inorganics shares make strong debut, list at 90% premium on NSE Emerge

As per the latest business developments, Shares of Shanti Inorganics made a firm debut on the NSE SME platform on Monday, September 7, with the stock stock-exchange debut at a 90% premium over its IPO price, following heavy demand during the three-day bidding period.

The stock opened at Rs 157.70 on the NSE SME, against the offering price of Rs 83 per share. This translates into a stock-exchange debut gain of Rs 74.70 per share, or 90%.

The stock-exchange debut of Shanti Inorganics was stronger than the grey-market premium indicated ahead of the debut. The stock was commanding a grey-market premium of around Rs 54, or nearly 65%, over the upper end of the IPO price range of Rs 83, according to InvestorGain. Market participants must note that the grey-market prices are unofficial and do not guarantee stock-exchange debut performance.

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The Rs 47.24-crore offering was subscribed 142.17 times during the bidding period, which was open from August 31 to September 2.

The Qualified Institutional Buyers (QIB) portion was subscribed 130.97 times, while the retail portion saw 125.72 times subscription. Demand was strongest from non-institutional market participants, whose portion was subscribed 195.53 times.

The IPO comprised a fresh offering of 56.91 lakh shares, with no offer-for-sale component. The offering had a price range of Rs 79-83 per share and was listed exclusively on the NSE SME platform. Check IPO News Here

The lot size was 1,600 shares, while individual market participants were required to apply for a minimum of two lots, or 3,200 shares, translating into a minimum investment of Rs 2.66 lakh at the upper end of the price range. Around Shanti Inorganics

Shanti Inorganics manufactures and trades sulphur-based inorganic chemicals, including sodium metabisulphite, sodium sulphite, ammonium bisulphite and sodium bisulphite solutions.

Its products are used as preservatives, reducing agents, oxygen scavengers and process intermediates across industries such as food and beverages, pharmaceuticals, oil drilling, pulp and paper and water treatment.

The firm operates manufacturing facilities in Gujarat, including its Vatva unit in Ahmedabad and a facility at Bavla. Its Bavla Phase I facility commenced commercial production in February 2025 with an installed capacity of 18,000 tonnes per annum.