Shanti Inorganics IPO GMP, Date, Price Band & Review

Shanti Inorganics IPO GMP (Grey Market Premium)

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The Shanti Inorganics IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

Shanti Inorganics Ltd. was incorporated as "Shanti Inorgo Chem (Guj) Private Limited" in January 2010 and has grown its business over the past decade and a half before being incorporated as a public limited company and officially changing its name to Shanti Inorganics Ltd. in May 2025. With its headquarters in Ahmedabad, Gujarat, it started with the vision of providing quality chemical products across the country and globally and has since grown into a trusted and recognised manufacturer of sulfur-based inorganic chemicals.

Operations & Product Range

The fundamental operating model of Shanti Inorganics Ltd. is based on the production and trade of sulfur-based inorganic chemicals. Some of the key product verticals include sodium metabisulfite, sodium sulfite powder, ammonium bisulfite solution and sodium bisulfite powder/solution. These chemicals are used as preservatives, reducing agents and oxygen scavengers. The customer base for Shanti Inorganics includes oil drilling, pharmaceuticals, food and beverages, paper production and water treatment plants.

Facilities & Capacity

Shanti Inorganics Ltd. has its existing Vatva Unit at Phase III GIDC, Vatva, Ahmedabad and its second manufacturing unit at Sankalp Industrial Estate, Chiyada, Ahmedabad. It intends to utilise a substantial portion of the funds raised from the fresh issue for capital expenditures for expanding its manufacturing capacities at its Bavla facility, with the intention of increasing its installed capacities to meet the growing demand from its increasing clientele of industrial customers.

Brands & Market Presence

Shanti Inorganics Ltd. has developed a solid B2B brand image for providing consistent quality in inorganic chemical manufacturing services and has built a client base of industrial clients to whom it sells directly. Its dedication to quality and excellence can be ascertained by virtue of various certifications and compliance with quality and food safety standards, which can be considered a major differentiator for Shanti Inorganics in a highly competitive chemical manufacturing industry.

Revenue Streams & Business Model

The main source of revenue for Shanti Inorganics Ltd. is derived through the simple B2B business model, in which the majority of the business is done in the sale of sulfur-based chemicals. The wide scope of application of the products in oil drilling, the pharmaceutical industry, food and beverage, etc., helps the company in providing stability in the source of revenue.

Management & Shareholding

Shanti Inorganics Ltd. is promoted by Manojkumar Jayantilal Patel and Avnish Manojkumar Patel, who possess deep technical and operational expertise in the chemical industry. Before the upcoming public issue, the promoter group held a dominant 83.65% of the pre-issue equity share capital. Since the IPO is a 100% fresh issue, the post-issue shareholding will see a dilution of the promoters' stake, welcoming public market investors while the founders continue to steer the strategic vision.

Board & Key Management

Shanti Inorganics Ltd. comprises board members who are industry veterans and operational leaders. Niraj K Dalal serves as a non-executive independent director, adding external oversight to the board's functions. The broader management team includes CS Abhik Jain as Compliance Officer and CFO Raval Kalpeshbhai Ambaprasad. This governance structure ensures the firm adheres to all regulatory requirements as it transitions into a listed entity.