IPO Details
Bidding Dates
30 Sep '25 - 03 Oct '25
Minimum Investment
₹2,52,000 / 2 Lots (4,000 Shares)
Price Range
₹59 to ₹63 per share
Maximum Investment
₹2,52,000 / 2 Lots (4,000 Shares)
Retail Discount
To be announced
Issue Size
₹34.02 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyer (QIB) |Sheel Biotech IPO Important Dates
Important dates with respect to IPO allotment and listing
IPO Open Date
Sep 30, 25
IPO Close Date
Oct 03, 25
Tentative Allotment
Oct 06, 25
Initiation of Refunds
Oct 07, 25
Tentative Listing Date
Oct 08, 25
About Sheel Biotech IPO
Sheel Biotech is launching a book-building IPO worth ₹34.02 crore. The issue is entirely a fresh issue consisting of 0.54 crore shares.
The IPO will open for subscription on September 30, 2025, and close on October 3, 2025. Allotment of shares is expected on October 6, 2025, and the shares are likely to list on NSE SME around October 8, 2025.
The price band for the IPO is set between ₹59 and ₹63 per share. Each application will have a lot size of 2,000 shares. For retail investors, the minimum investment is ₹2,52,000 (for 4,000 shares at the upper price). For HNI investors, the minimum investment is 3 lots, i.e., 6,000 shares, amounting to ₹3,78,000.
Narnolia Financial Services Ltd. is the book running lead manager, while Skyline Financial Services Pvt. Ltd. is the registrar for the IPO.
This IPO provides an opportunity for investors to participate in Sheel Biotech’s growth, with clear guidelines on subscription dates, lot sizes, and pricing for both retail and HNI investors.
Sheel Biotech IPO Objectives
- The Company intends to deploy ₹911.95 Lakhs to expand its existing facility at Plot No 87, Tehsil Modinagar, Awalpur, Ghaziabad, Uttar Pradesh, including the purchase of 30,000 mother plants of blueberry.
- The Company plans to utilise ₹1,588.00 Lakhs to meet incremental working capital needs to support business growth, fund strategic initiatives, and enhance operational efficiency, which is expected to improve revenues and profitability.
- The balance net proceeds, not exceeding 25% of the gross proceeds, will be used for general corporate purposes such as strengthening the marketing network, brand-building exercises, strategic initiatives, and meeting other operational exigencies.
About Sheel Biotech
Sheel Biotech Limited (SBL), incorporated in 1991 by Dr. Satya Narayan Chandak, is a public company engaged in the biotechnology, agriculture, and horticulture sector. The company specialises in growing, developing, processing, and supplying plants for field crops, fruits, vegetables, and ornamental purposes using tissue culture and organic farming techniques.
SBL operates greenhouses, offers training through Farmer Producer Organizations (FPOs), and provides green landscaping services to government and private clients. The company is ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified, and its R&D lab, recognized by the Department of Biotechnology, has a production capacity of 10 million planting materials annually.
The company expanded into protected cultivation with greenhouse and polyhouse projects and started an import division in 2019 for flowers like tulip, lilium, orchids, and alstroemeria. Its organic division, established in 2008, promotes organic farming and reduced chemical use.
SBL has partnerships with global companies and operations across India and abroad, including Eritrea. During COVID-19, it produced oxygen-generating plants, gaining strong market response. The company aims to make nutritious fruits affordable and accessible.
Industry Outlook
- The global plant tissue culture market is projected to grow from USD 480 million in 2024 to USD 883 million by 2031, at a CAGR of 9.1%, driven by the demand for high-quality, disease-free planting material in ornamental, horticultural, floricultural, and agroforestry sectors.
- India has over 125 commercial tissue culture units with production capacities ranging from 0.2 to 10 million plants per year. Most units are located in Maharashtra, Andhra Pradesh, Karnataka, Tamil Nadu, and Kerala, catering both to domestic and export markets, particularly in fruit, ornamental, and plantation crops.
- Government initiatives, including more than 150 approved R&D projects, National Facility for Virus Diagnosis, and quality control centers, along with favorable policies from the Ministries of Science & Technology, Commerce, and Agriculture, have strengthened the tissue culture industry, encouraging entrepreneurial growth and production of high-value planting material.
How To Apply for the Sheel Biotech IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Sheel Biotech IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- 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 Sheel Biotech IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Sheel Biotech
Registered office: Sheel Biotech Ltd., 8 Balaji Estates, 2nd Floor, Block-C, Guru Ravidas Marg, Kalkaji, South Delhi, New Delhi, 110019
Phone: +91 88511 - 8980
Email: compliance@sheelbiotech.com
Sheel Biotech IPO Reservation
|
Investor Category |
Shares Offered |
|
QIB (Qualified Institutional Buyers) |
Not more than 50% of the Net Issue |
|
Retail Investors |
Not less than 35% of the Net Issue |
|
NII (Non-Institutional Investors) |
Not less than 15% of the Net Issue |
Sheel Biotech IPO Lot Size Details
|
Application Type |
Lots |
Shares |
Amount |
|
Individual Investors (Retail) (Min) |
2 |
4,000 |
₹2,52,000 |
|
Individual Investors (Retail) (Max) |
2 |
4,000 |
₹2,52,000 |
|
S-HNI (Min) |
3 |
6,000 |
₹3,78,000 |
|
S-HNI (Max) |
7 |
14,000 |
₹8,82,000 |
|
B-HNI (Min) |
8 |
16,000 |
₹10,08,000 |
Sheel Biotech Promoter Holding
The company’s promoters include Dr. Satya Narayan Chandak, Mr. Sanjay Chandak, Mr. Divye Chandak, Mrs. Mini Chadha, and the HUF entities Satya Narayan Chandak (HUF), Sanjay Chandak (HUF), and Sumeet Chandak (HUF).
|
Particulars |
Promoter Holding |
|
Pre-Issue |
96.99% |
|
Post-Issue |
71.26% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Sheel Biotech
|
Particulars |
Value as of March 31, 2024 |
|
EBITDA (%) Margin |
27.02 |
|
ROCE (%) |
1.09 |
|
ROE / RoNW (%) |
0.66 |
|
EPS (₹) |
0.33 |
|
Debt-Equity Ratio (times) |
0.34 |
Sheel Biotech IPO Prospectus
Sheel Biotech IPO Registrar and Lead Managers
Sheel Biotech IPO Lead Managers
- Narnolia Financial Services Ltd.
Registrar for Sheel Biotech IPO
Skyline Financial Services Pvt.Ltd.
- Phone: 02228511022
- Email: compliances@skylinerta.com
- Website: https://www.skylinerta.com/ipo.php
Financial Performance of Sheel Biotech
| Particulars | May 31, 2024 | March 31, 2024 | March 31, 2023 |
|---|---|---|---|
| Revenue from operations (₹ Lakhs) | 398.47 | 9,228.22 | 8,011.57 |
| EBITDA (₹ Lakhs) | 107.67 | 1,445.35 | 882.91 |
| EBITDA Growth Period on Period (%) | - | 63.70 | 38.34 |
| PAT (₹ Lakhs) | 48.49 | 1,050.97 | 507.65 |
| Net Change in Cash and cash equivalents (₹ Lakhs) | 55.63 | 39.24 | -10.03 |
Know before investing
Strengths
8-
30 years of experience in plant tissue culture is a strong competitive advantage.
-
High-quality planting material supplied in India and globally shows wide reach.
-
Working with top international partners from the USA, Europe, and Asia is valuable.
-
Expertise in import procedures for technologies and necessary plant quarantine is a key strength.
-
Operating a large network of 150 Farmer Producer Organizations (FPOs) supports rural growth.
-
The business has a consistent upward revenue trend from FY22 to FY24.
-
Strong, growing government tender revenue provides financial stability and a reliable client base.
-
Training technical experts and managing tissue culture in Eritrea validates global capability.
Risks
8-
52% to 72% revenue depends heavily on unpredictable government tenders and bids.
-
Tissue culture operations demand highest precision; human errors risk entire lab output.
-
Any research and development disruption negatively impacts tissue culture segment competitiveness.
-
Significant temperature fluctuations or poor storage adversely impact fragile plant tissue growth.
-
Seasonal conditions like floods or cyclones cause operational delays and severe equipment damage.
-
Loss of Key Managerial Personnel/Directors/Promoters, who provide expertise, can affect success.
-
Negative cash flows from operations/financing in past may continue, hurting financial condition.
-
Adverse decision in numerous ongoing legal proceedings/litigations may lead to penalties.
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Sheel Biotech Peer Comparison
| Competitor | Growth in Revenue (%) | EBITDA (%) Margin | ROCE (%) | ROE / RoNW (%) |
|---|---|---|---|---|
| Sheel Biotech Limited | 15.19 | 15.66 | 16.47 | 14.45 |
| Jain Irrigation System Limited | 5.75 | 13.17 | 5.09 | 1.00 |
Sheel Biotech IPO FAQs
Sheel Biotech is launching an SME IPO via a book-building process to raise ₹34.02 crores by issuing fresh shares.
The IPO opens on September 29, 2025, and closes on October 3, 2025.
The basis of allotment is expected to be finalised on October 6, 2025.
The lot size is 2,000 shares. Retail investors must apply for a minimum of 2 lots (4,000 shares), amounting to an investment of ₹2,52,000 at the upper price band.
The IPO is expected to be listed on the NSE SME platform on October 8, 2025.
Listing gains cannot be predicted in advance. They depend on market demand, subscription levels, and overall investor sentiment on the listing day.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
After submitting your IPO application, log in to your UPI app and approve the mandate request to block funds.
No. Only one application per PAN is allowed in an IPO.
You can access the company’s financials by downloading the RHP document.
Pre-apply allows investors to submit their IPO application up to two days before the subscription window opens, ensuring early placement.
Your order will be placed when the IPO opens on September 26, 2025, and the UPI request will follow within 24 hours.
You’ll receive a notification once your order is successfully submitted to the exchange after bidding begins.
The registrar is Skyline Financial Services Pvt. Ltd. They are responsible for allotment and investor grievance handling.
The IPO will be listed on the NSE SME platform.
