Shah Investors IPO: Slow Start to Public Offering

Shah Investors Home's initial public offering (IPO) saw a sluggish debut on September 28, 2026, with subscription reaching just 0.31 times by the day's end. The IPO, open until September 30, 2026, aims to raise capital with shares priced between Rs 159 and Rs 167. The company, established in Ahmedabad, Gujarat, in 1994, is a retail broking firm offering services like margin trading and depository assistance. It plans to allocate Rs 60 crore from the IPO proceeds towards its working capital needs for the fiscal year 2027, targeting an expansion of its margin trading book.

Significant operational shifts are evident, with digital platforms now contributing substantially to revenue. In FY2026, digital platforms accounted for 42.6% of brokerage revenue, a marked increase from 17.6% in FY2024. This digital push includes their SIHL Moneymaker app and ALGOFY algorithmic trading platform. Despite this growth, the company's financial performance in FY2026 showed a decline in income from operations, operating profit, and net profit compared to FY2025. The IPO is expected to reduce promoter shareholding to 62.81% from the current 84.34%.