Shah Investor's Home IPO

Shah Investor's Home Limited was incorporated in October 1994 and operates as a retail broking and financial services company. The company provides equity and derivatives brokerage services, facilitating transactions in equities, IPOs and other securities for retail customers, including resident and non-resident Indians.

Its additional financial services include mutual fund distribution, margin funding and stock lending and borrowing (SLB) services under the Shah Investors brand. As of March 31, 2026, the company had served more than 1,00,000 demat accounts, with over 38,000 active clients and a network of more than 181 authorised persons.

The company operates through 11 branches across Mumbai, Ahmedabad, Vadodara, Junagadh, Gandhinagar and Rajkot, with its branch and authorised-person network primarily serving customers in Gujarat and Maharashtra. It became a Trading Member of the National Stock Exchange of India in 1995 and a Depository Participant with NSDL in 1997.

The company has progressively adopted technology across its operations. Its digital app-based platform, SIHL Moneymaker, was launched in 2023, and it had more than 12,452 active registered users as of March 31, 2026. In Fiscal 2026, the company also launched ALGOFY, an API-powered algorithmic trading platform designed to support strategy development, testing, deployment, automation and management.

As of July 31, 2026, the company had 167 permanent employees across various functions including accounts, compliance, demat, helpdesk, research, IT, MTF & SLB, sales and trading.

Shah Investor's Home has a long operating history in the retail broking and financial-services segment, with an established presence across Gujarat and Maharashtra. The company provides brokerage, mutual fund distribution, margin funding and stock lending and borrowing services, while its technology platforms support its digital expansion.

The company has served more than 1,00,000 demat accounts and has over 38,000 active clients as of March 31, 2026. Its network includes 11 branches and more than 181 authorised persons. The company has also introduced digital platforms such as SIHL Moneymaker and ALGOFY.

Financial performance, however, shows a decline in FY2026. Total income decreased from ₹94.47 crore in FY2025 to ₹72.40 crore in FY2026, while PAT declined from ₹23.42 crore to ₹13.11 crore during the same period.

The IPO is entirely a Fresh Issue, so the proceeds are intended for the company rather than selling shareholders. The principal stated use is working capital, which is relevant to a financial-services business where capital requirements can fluctuate with business activity.

At the upper price band of ₹167, the supplied valuation data gives a post-IPO P/E of 26.94x compared with a pre-IPO P/E of 20.07x. Investors should consider the company's earnings trend, market-dependent business model, competitive environment, working-capital requirements and detailed risk factors disclosed in the RHP before evaluating the issue.

Shah Investor's Home IPO applications can be made through ASBA or UPI through an eligible broker or bank during the IPO bidding period. The minimum retail application is 1 lot, or 85 shares, requiring ₹14,195 at the upper price band of ₹167.

Through UPI

1. Log in to your stockbroker app or website.
2. Go to the IPO section.
3. Select Shah Investor's Home IPO.
4. Enter the number of lots you want to apply for.
5. Select the bid price. Retail investors can generally choose Cut-off when available.
6. Enter your valid UPI ID.
7. Submit the IPO application.
8. Open your UPI app when the mandate request arrives.
9. Approve the mandate using your UPI PIN.
10. The application amount will be blocked in your bank account. If shares are allotted, the required amount will be debited; otherwise, the blocked amount will be released.