The Shining Tools IPO is a fixed-price issue on the BSE SME platform, aiming to raise ₹17.10 crores by selling 1.5 million fresh shares at a price of ₹114.00 per share.
The subscription period runs from November 7 to November 11, 2025. Allotment is expected on November 12, 2025, with a tentative listing date of November 14, 2025.
Investors must apply for shares in lots of 1,200. The minimum investment for a retail investor is ₹2,73,600 (2,400 shares, or 2 lots). For HNI, the minimum is ₹4,10,400 (3,600 shares).
Sobhagya Capital Options is the lead manager, and Maashitla Securities is the registrar for the issue.
Shining Tools IPO Objectives
- ₹906.53 lakhs will be used to purchase and install new machinery for manufacturing Carbide Precision Tools. This will boost production capacity, increase revenues, and improve profit margins by enabling in-house production.
- ₹542.47 lakhs is allocated to satisfy incremental working capital requirements. This will allow the company to negotiate better terms with suppliers by paying in cash or reducing credit periods, thereby increasing profitability and gross margins.
- A flexible portion of the net proceeds (not exceeding 15% of the amount raised or ₹10 crores, whichever is less) is reserved for general corporate purposes. This includes strategic growth initiatives, acquisitions, partnerships, branding, marketing, and addressing operational needs.
About Shining Tools
Shining Tools is a precision engineering company that designs and manufactures solid carbide cutting tools. Its key products include end mills, drills, and reamers, designed for high-performance CNC machines like HMCs and VMCs. The company’s customised tool solutions business accounts for nearly 53% of its total revenue.
The company runs an ISO 9001:2015-certified manufacturing facility in Rajkot, equipped with advanced CNC machinery such as Walter Helitronic and Tool Grinding Technology systems. To ensure accuracy, it uses German-made Zoller machines for both 3-axis and 5-axis quality inspections.
Its operations are further strengthened by a 50 KW rooftop solar plant, providing clean energy and supporting its Business Continuity Plan (BCP).
Apart from new tool production, Shining Tools offers reconditioning services like regrinding, re-sharpening, and coating to restore tools to their original performance levels. This helps clients improve tool life and reduce costs. With its location near key industrial belts in Rajkot, the company ensures faster delivery times and strong service support for its growing customer base.
Industry Outlook
- The global cutting tools market, valued at US$77.24 billion in 2019, is projected to reach US$101.48 billion by 2027, reflecting steady growth. In India, the machine tools market is also on an upward trajectory, expected to grow from US$1.5 billion in 2023 to US$3.2 billion by 2032, registering a healthy CAGR of 8.2%.
- Demand for cutting tools in India is being driven by the expansion of key sectors such as automotive, aerospace, construction, and industrial machinery. Government initiatives like ‘Make in India’ have strengthened local production, with domestic manufacturers contributing around 45% of total output, making the Indian market one of the most price-competitive globally.
- Market growth is further propelled by automation and CNC technology adoption, enhancing productivity and precision across manufacturing industries.
How To Apply for the Shining Tools 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 Shining Tools 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 Shining Tools 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 Shining Tools IPO
Registered office: Shining Tools Ltd., Survey no. 63/2, Plot No. 2, Rajkot, Gondal Highway, Gondal, Gujarat, 360311
Phone: +91 9687693344
Email: cs@tixnatools.com
Shining Tools IPO Reservation
| Investor Type | Shares Offered | Percentage |
| Market Maker | 75,600 | 5.04% |
| Non-Institutional (HNI) | 7,12,200 | 47.48% |
| Retail Investors | 7,12,200 | 47.48% |
| Total | 15,00,000 | 100% |
Shining Tools IPO Lot Size Details
| Application Type | Lots | Shares | Amount |
| Individual Investors (Retail) – Minimum | 2 | 2,400 | ₹2,73,600 |
| Individual Investors (Retail) – Maximum | 2 | 2,400 | ₹2,73,600 |
| HNI – Minimum | 3 | 3,600 | ₹4,10,400 |
Shining Tools IPO Promoter Holding
The company’s promoters are Mr. Vipulbhai Laljibhai Ghonia and Mr. Kamalbhai Laljibhai Ghonia. Their shareholding details are as follows:
| Particulars | Shareholding % |
| Promoter Holding (Pre-Issue) | 96.18% |
| Promoter Holding (Post-Issue) | 70.68% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Shining Tools IPO
| KPI | Value |
| Return on Equity (ROE) | 49.59% |
| Return on Capital Employed (ROCE) | 29.61% |
| Return on Net Worth (RoNW) | 36.60% |
| PAT Margin | 27.19% |
| EBITDA Margin | 46.86% |
Shining Tools IPO Prospectus
Shining Tools IPO Registrar and Lead Managers
Shining Tools IPO Lead Managers
- Sobhagya Capital Options
Registrar for Shining Tools IPO
Maashitla Securities
Phone: +91-11-45121795-96
Email: shining.ipo@accuratesecurities.com
Financial Performance of Shining Tools
| Financial Metric | FY 2024-25 | FY 2023-24 | FY 2022-23 |
| Revenue from Operations (₹ in Lakhs) | 1,247.23 | 1,052.95 | 1,032.15 |
| EBITDA (₹ in Lakhs) | 582.41 | 414.84 | 188.59 |
| EBITDA Margin (%) | 46.70% | 39.40% | 18.27% |
| Profit After Tax (₹ in Lakhs) | 269.68 | 157.53 | 7.93 |
| Return on Equity (RoE) (%) | 46.56% | 56.08% | 3.85% |
Shining Tools Peer Comparison
| KPI | Shining Tools Ltd | Birla Precision Technologies Ltd |
| Revenue from Operations (₹ in Lakhs) | 1,052.95 | 22,778.26 |
| EBITDA Margin (%) | 39.40% | 12.39% |
| Profit After Tax (₹ in Lakhs) | 157.53 | 1,066.14 |
| PAT Margin (%) | 14.96% | 4.72% |
| Return on Equity (RoE) (%) | 56.08% | 6.96% |
Strengths and Opportunities for Shining Tools IPO
- High efficiency through advanced, machine-based manufacturing processes minimises human error.
- Specialises in tailored solutions by offering high-precision customised cutting tools.
- Offers a wide and diverse range of cutting tool products as a one-stop solution.
- Experienced promoters bring over 2 decades of technical knowledge and industry expertise.
- Strategic location near industrial belts provides a competitive logistical advantage.
Risks and Threats for Shining Tools IPO
- Dependence on single manufacturing facility risks severe operational disruption affecting business continuity.
- Delay or cost overrun in expanding manufacturing capacity may impact growth and profitability.
- High customer concentration could adversely impact revenue if key customers reduce orders.
- Inaccurate demand forecasting risks excess inventory or stockouts harming cash flows.
- Vendor dependency for machinery procurement may cause delays in production capabilities.
