Shah Investor's Home IPO

Shah Investor’s Home Limited IPO is a 100% book-built issue comprising an entirely fresh issue of 53,99,200 equity shares of face value ₹10 each. There is no Offer for Sale (OFS). The total issue size is therefore 53,99,200 equity shares, aggregating up to ₹ 90.17 Cr.

Beeline Capital Advisors Private Limited is the Book Running Lead Manager, while MUFG Intime India Private Limited (formerly Link Intime India Private Limited) is the Registrar to the Issue.

About Shah Investor's Home Limited

Shah Investor’s Home Limited was originally incorporated as “Shah Investors Home Private Limited” on October 12, 1994, under the Companies Act, 1956. It was converted into a public company in February 1995 and renamed “Shah Investors Home Limited”. The company subsequently adopted its present name, “Shah Investor’s Home Limited,” in October 2000. The company is headquartered in Ahmedabad, Gujarat, with its registered office in Gift City, Gandhinagar.

Shah Investor’s Home is a retail broking company with over three decades of experience, offering equity and derivatives brokerage, IPO investing, mutual fund distribution, margin funding, and stock lending and borrowing services under the “Shah Investors” brand. Its primary focus is secondary-market broking for retail customers, including resident and non-resident Indians. As of March 31, 2026, the company had served over 1,00,000 demat accounts, with more than 38,000 active clients and a network of 181+ authorised persons. It operates through 11 branches across Mumbai, Ahmedabad, Vadodara, Junagadh, Gandhinagar and Rajkot, serving clients primarily across Gujarat and Maharashtra.

The company commenced operations as a Trading Member of NSE in 1995 and became a Depository Participant of NSDL in 1997. It subsequently expanded its market memberships and technology capabilities, including the launch of its digital platform “SIHL Moneymaker” in 2023, which had over 12,452 active registered users as of March 31, 2026. In Fiscal 2026, the company also launched “ALGOFY,” an API-powered algorithmic trading platform offering strategy development, testing, deployment, automation, risk management and trade execution capabilities.

Industry Outlook

• NSE’s active client base reached 479 lakhs in Q1FY26, with registered active clients increasing at a 32.8% CAGR between FY20 and Q1FY26.
• Retail traders’ share of derivatives trading volumes increased from 2% in 2018 to 41% in 2023, reflecting the growing adoption of derivatives among individual investors and the accessibility provided by digital trading platforms.
• The notional turnover of equity derivatives traded on NSE reached ₹78,359 lakh crore in FY25.
• Mobile trading platforms, fintech platforms, algorithmic trading, cloud computing, real-time analytics and digital payments are making market participation more accessible and cost-efficient.
• Rising mobile-phone penetration, improved distribution networks and technology adoption are supporting greater participation from B30 (Beyond Top 30) locations.
• India accounts for less than 2% of the global mutual fund industry, indicating substantial potential for further expansion. Mutual fund AUM-to-GDP ratio increased from 15.3% in FY20 to 35.0% in FY25.
• Advanced trading platforms, algorithmic trading, real-time data and financial advisory/research services are identified as important industry strengths. Full-service brokers can differentiate through advisory and broader financial-product distribution, while technology is increasingly central to customer acquisition and retention.

Shah Investor's Home IPO Objectives

The company proposes to utilise the net proceeds from the IPO for the following objectives:

• Towards funding working capital requirements of the company.
• Towards general corporate expenses.

Financial Performance of Shah Investor's Home Limited

Shah Investor's Home Limited Peer Details Comparison

Strengths and Opportunities of Shah Investor's Home IPO

1. As of March 31, 2026, Shah Investor’s Home had 85,422 total clients and 38,189 active clients, with active clients growing from 35,535 in FY24 to 38,189 in FY26. The company had also served over 1 lakh demat accounts and partnered with 181+ authorised persons.
2. The company operates through 11 branches across Mumbai, Ahmedabad, Vadodara, Junagadh, Gandhinagar and Rajkot, supported by its authorised-person network. Gujarat accounted for 93.74% of brokerage income in FY26, indicating a strong established franchise in its core market.
3. The company commenced stock-broking operations in 1995 and became an NSDL Depository Participant in 1997, giving it more than three decades of experience across broking and related financial services.
4. In addition to equity and derivatives broking, the company offers mutual fund distribution, margin funding, depository services and stock lending & borrowing, allowing it to serve multiple financial requirements of its clients.
5. NSE active clients reached 479 lakh in Q1FY26, while registered active clients grew at a 32.8% CAGR between FY20 and Q1FY26.
6. NSE active clients reached 479 lakh in Q1FY26, while registered active clients grew at a 32.8% CAGR between FY20 and Q1FY26.

Risks and Threats of Shah Investor's Home IPO

1. SIHL’s performance is closely linked to activity in the equity and derivatives markets. Lower retail participation, weak market sentiment or reduced trading volumes can directly affect brokerage income, making the business cyclical.
2. Gujarat contributed ₹43.40 crore, or 93.74% of total brokerage income, in FY26. Maharashtra contributed 3.61% and other regions 2.65%. Any adverse economic, competitive or demand conditions in Gujarat could therefore materially affect the company.
3. Revenue from operations declined 24.18% YoY, from ₹94.27 crore in FY25 to ₹71.48 crore in FY26. Broking revenue also declined from ₹64.91 crore to ₹46.30 crore over the same period.
4. Although SIHL had 85,422 total clients in FY26, only 38,189 were active, representing 44.71% of its total client base. Active-client growth also moderated to 0.99% in FY26, compared with 6.41% in FY25 and 13.27% in FY24.
5. The broking business is subject to extensive SEBI, exchange, AMFI, APMI, NSDL and other regulatory requirements. Changes in margin requirements, exposure limits, reporting, disclosure and compliance standards can increase operating costs or restrict revenue-generating activities.
6. Uniform transaction-fee structures and removal of volume-based discounts can put pressure on brokerage margins.
7. Economic downturns, geopolitical developments and market volatility can affect investor behaviour, asset valuations, trading volumes and fee-based income.
8. Rising compliance and regulatory costs may lead to consolidation, potentially placing smaller or mid-sized brokers under greater competitive pressure from larger, better-capitalised players.

Shah Investor's Home IPO Reservation

Shah Investor's Home IPO Promoter Holding

The promoter of the company is Subodh Subhash Runwal.

Shah Investor's Home IPO Prospectus

• Shah Investor's Home IPO RHP

Shah Investor's Home IPO Registrar and Lead Managers

Shah Investor's Home IPO Lead Managers

• Beeline Capital Advisors Private Limited

Registrar for Shah Investor's Home IPO

MUFG Intime India Private Limited

• Contact Number: +91 81081 14949
• Email Address: shahinvestors.ipo@in.mpms.mufg.com

How To Apply for Shah Investor's Home IPO Online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Shah Investor's Home IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How To Check the Allotment Status of the Shah Investor's Home IPO?

Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

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Contact Details of Shah Investor's Home IPO 

Registered Office:810, X-Change Plaza, DSCCSL (53E), Road 5E, Block 53, Zone 5, Gift City, Gandhinagar – 382050, Gujarat, India

Phone: +91 9904053335

E-mail: company.secretary@sihl.in