Shreni Shares IPO

Yet to be determined SME

IPO Details

Bidding Dates

To be announced

Minimum Investment

To be announced

Price Range

To be announced

Maximum Investment

To be announced

Retail Discount

To be announced

Issue Size

To be announced

Investor category and sub category

Qualified Institutional Buyers (QIB) | Retail Individual Investors (RII) | Non-institutional Investors (NII)

About Shreni Shares

Incorporated in 2009, Shreni Shares Ltd is a stock broking company that provides share broking and market-making services. It also helps companies raise funds to support business expansion, infrastructure development, and diversification.

As of December 31, 2025, the Company was actively providing market-making services to 41 companies listed on SME platforms.

it's Key Services include:

Share broking services
Margin Trading Facility (MTF)
Market-making services
Capital market services

The Company provides its trading services through the Taurus Trader mobile app and other software platforms used for its business operations.

Shreni Shares IPO Objectives

₹57.00 crore will be used to meet the Company’s working capital requirements, mainly for the Margin Trading Facility (MTF), trade receivables, and other bank balances needed for day-to-day operations. The MTF Business of the company grew from ₹25.24 crore as of March 31, 2025, to ₹44.72 crore as of December 31, 2025.
₹8.00 crore will be used to repay or prepay certain outstanding borrowings, with the aim of reducing debt and associated servicing costs.
A portion of the proceeds will be used for general corporate needs, including strategic initiatives, partnerships, joint ventures, acquisitions, facility renovation, refurbishment, and brand promotion.

Industry Outlook

The company belongs to the financial services and capital markets industry.

India’s equity market has expanded significantly, with BSE market capitalisation rising from ₹101.5 lakh crore in FY2015 to ₹412.9 lakh crore in FY2025, reflecting a 10-year CAGR of 15.1%.
The Sensex, NIFTY 50, and SX40 delivered annualised growth of around 10.8%, 11.6%, and 11.2%, respectively, during FY2015–FY2025, supported by corporate earnings growth, improving macroeconomic conditions, and investor participation.
Increasing participation from domestic investors is supporting market depth and liquidity, while greater awareness of financial markets is broadening the investor base.
India continues to attract capital through FDI, private equity, and venture capital, particularly across technology, fintech, renewable energy, manufacturing, logistics, and digital infrastructure.
Foreign investors are increasingly focusing on scalable businesses, profitable business models, and long-duration assets, supporting more strategic and patient capital formation.
Policy reforms, Production-Linked Incentive (PLI) schemes, improvements in the business environment, and India’s large domestic consumption base are supporting investment and capital-market development.
Rising corporate profitability, economic growth, improving governance standards, deeper institutional participation, and increasing financialisation of savings are expected to continue supporting the development of India’s capital markets.

Financial Performance of Shreni Shares

Metric	December 31, 2025	March 31, 2025	March 31, 2024	March 31, 2023
EBITDA Margin (%)	91.20%	86.47%	89.87%	77.19%
PAT Margin	65.13%	58.98%	61.90%	46.47%
Return on Equity	17.73%	11.88%	23.27%	27.09%
Return on Capital Employed	23.07%	15.40%	31.15%	26.39%
Debt to Equity Ratio	0.05	0.07	0.06	0.66

Shreni Shares Peer Comparison

Name of Company	Revenue, for Fiscal 2025 (in ₹ million)	Basic EPS (₹)	NAV (₹ per share)	P/E	RONW (%)
Shreni Shares	286.60	3.34	26.70	[•]	16.38%
Share India Securities Limited**	14,695.01	15.58	106.96	10.10	15.97%
SMC Global Securities Limited**	17,857.20	13.92	116.25	10.95	12.13%
Rikhav Securities Limited**	3,277.66	7.51	59.15	6.92	10.45%

Strengths and Opportunities for Shreni Shares

Led by Founder and Managing Director CA Bhavesh H. Shah, who brings over 34 years of experience in financial markets and professional practice, the company is supported by a management team with expertise across banking, finance, compliance and risk management.

The company has developed a technology-driven trading ecosystem through its Taurus Trader mobile application and desktop platform, with integrated back-office functionality that enables clients to execute trades, monitor holdings and access transaction reports.

With a customer base of over 2,620 and an expanding branch network, the company focuses on personalised advisory, responsive service and continuous client engagement to build long-term customer relationships.

The company’s Margin Trading Facility (MTF) enables clients to leverage their positions and improve capital utilisation, while generating interest income and supporting higher average revenue per client within a controlled risk framework.

The company is working to diversify its revenue streams by expanding third-party mutual fund distribution, introducing market-making in SME fixed-income securities and offering a broader range of investment products across equity, fixed income and alternative assets.

By combining digital-first platforms with relationship-led servicing, the company aims to provide personalised solutions to retail investors and high-net-worth individuals while strengthening customer retention and engagement.

The company maintains a focus on managing financial, credit, operational, compliance and legal risks through established monitoring and reporting systems, while continuing to strengthen its risk management and internal control frameworks.

Risks and Threats for Shreni Shares

A substantial share of revenue comes from treasury operations, making the company vulnerable to adverse movements in treasury performance and fluctuations in other revenue streams.

The company operates under extensive oversight from SEBI, stock exchanges, depositories and other authorities. Changes in regulations, additional compliance requirements or delays in obtaining approvals could affect operations.

The company has faced penal actions from stock exchanges and regulatory authorities in the past. Similar penalties in the future could adversely affect its financial performance and operations.

The discontinuation of its merchant banking business from April 2025 could reduce revenue sources and affect future growth prospects and business strategy.

The company's operations depend heavily on IT systems for transaction processing and digital services. System failures, cyber incidents or prolonged disruptions could affect trading activities and customer service.

Delays in filing or paying statutory dues, including TDS, provident fund and professional taxes, could result in additional interest and penalties and increase cash-flow pressures.

Extending credit to clients for securities transactions exposes the company to defaults, bad debts and losses, particularly during periods of sharp market volatility or falling asset values.

The company's reliance on branches and authorised persons exposes it to operational, financial, reputational and compliance risks arising from their performance or conduct.

The Indian broking industry has a large number of SEBI-registered brokers. Competition on pricing, margins, products, services and technology could put pressure on the company's market position and profitability.

Shreni Shares IPO Reservation

Investor Category	Shares Offered
QIB	Not more than 50% of the Net Offer
Retail	Not less than 35% of the Net Offer
NII	Not less than 15% of the Net Offer

Shreni Shares IPO Promoter Holding

Name	No. of Shares Offered
Hitesh Natwarlal Punjani	20,00,000
Nidhi Bhavesh Shah	20,00,000
Nirmal Himmatlal Shah	13,94,800
Sapna Bhavesh Shah	28,05,200
Total	82,00,000

Shreni Shares IPO Registrar and Lead Managers

Shreni Shares IPO Lead Managers

Aryaman Financial Services Ltd.

Registrar for Shreni Shares IPO

Name: Bigshare Services Pvt.Ltd.

Phone: 8657578989

Email ID: ipo@bigsharesonline.com

How To Check the Allotment Status of the Shreni Shares IPO ?

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 Milky Mist Ltd. 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 Apply for Shreni Shares IPO Online?

Steps to check IPO allotment status on Angel One’s 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 Shreni Shares IPO

Address: Office No. 217, Hive 67 Icon, Poisar Gymkhana Road, Lokmanya Tilak Nagar Poisar, Near Raghuleela Mall, Kandivali West, Mumbai, Maharashtra, 400067

Phone: 022-35011600

Email ID: investor@shreni.in

How to Apply in IPO
How to Check IPO Allotment Status

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Shreni Shares IPO FAQs

What is the Shreni Shares IPO?

The Shreni Shares IPO is a main-board book-built issue by stockbroking and SME market-making firm Shreni Shares Ltd. The offer comprises 1.51 crore equity shares, including 69 lakh fresh shares and 82 lakh offer-for-sale (OFS) shares proposed to list on the BSE and NSE.