Shivchem Agro SME IPO
Shivchem Agro IPO — date, price band, lot size & details 2026
Shivchem Agro listed on 6 Oct 2026 at ₹62, flat to the ₹62 issue price.
Shivchem Agro Limited manufactures and distributes agrochemical formulations including insecticides, fungicides, herbicides, plant growth regulators and fertilizers. It holds licences for 176 agrochemical products and sells through 685 distributors across eight states from its plant at Jhajjar, Haryana.
Stock price
Shivchem Agro is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 16 October.
- Open 28 Sep 2026
- Close 30 Sep 2026
- Allotment 01 Oct 2026
- Refund/credit 05 Oct 2026
- Listing 06 Oct 2026
Issue summary
The terms of the offer, as filed.
| IPO Dates | 28 to 30 Sep, 2026 |
|---|---|
| Price Band | ₹59 – ₹62 |
| Face Value | ₹5 |
| Lot Size | 2000 Shares |
| Issue Size | ₹14.01 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE SME |
| Registrar | Maashitla Securities Private Limited |
| Min Investment | ₹ 2,48,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 2000 shares at the ₹62 cut-off. The SME retail application is a fixed 2 lots; HNI starts at 3.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 2 | 4,000 | ₹2,48,000 |
| Retail (max) | 2 | 4,000 | ₹2,48,000 |
| HNI (min) | 3 | 6,000 | ₹3,72,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 8
- 01Sales have tripled in two years, from Rs 10.95 crore in FY2024 to Rs 27.50 crore in FY2025 and Rs 33.84 crore in FY2026.
- 02Profit has grown from Rs 1.29 crore in FY2024 to Rs 2.60 crore in FY2025 and Rs 3.25 crore in FY2026.
- 03Return ratios are strong, with RoCE of 30.04% and RoNW of 28.76%.
- 04The issue is priced at about 14.39 times earnings on an EPS of Rs 4.31.
- 05Holding licences for 176 products gives it room to widen its range without waiting for fresh approvals.
- 06The distribution network of 685 distributors across eight states is substantial for a company of this age.
- 07The plant has its own effluent treatment and wet scrubber units, which matters for staying compliant in a chemical business.
- 08Net worth has grown from Rs 1.50 crore in FY2024 to Rs 12.92 crore in FY2026.
Risks · 8
- 01The company is very young, having been started only in September 2021, so it has under five years of history.
- 02This is a very small issue of Rs 14.01 crore and a small company, with a net worth of Rs 12.92 crore.
- 03Agrochemical demand depends on the monsoon and on the farming season. A poor season cuts sales and leaves stock with distributors.
- 04Agrochemical makers usually give long credit to distributors, which blocks working capital, and Rs 6.90 crore of the issue goes to working capital.
- 05The market is crowded with large national and multinational companies that have stronger brands with farmers.
- 06Chemical manufacturing carries pollution and regulatory risk, and product registrations can be withdrawn or restricted.
- 07Promoter holding will come down from 92.73% to 64.91% after the issue.
- 08This is an SME issue. One lot is 2,000 shares, which is about Rs 1.24 lakh at the upper band of Rs 62, and SME shares usually trade in low volume after listing.
Three years of numbers
All figures in ₹ crore, as reported in the Shivchem Agro offer document.
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 45.04 | 36.29 | 16.41 |
| Total Income | 33.84 | 27.50 | 10.95 |
| Profit After Tax | 3.25 | 2.60 | 1.29 |
| EBITDA | 5.98 | 4.32 | 1.93 |
| NET Worth | 12.92 | 9.67 | 1.50 |
| Reserves and Surplus | 10.28 | 7.04 | 1.45 |
| Total Borrowing | 7.28 | 8.26 | 7.10 |
See how this IPO compares — view listing performance of all SME IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Shivchem Agro RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Shivchem Agro IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹6.16 | ₹4.31 |
| P/E Ratio (x) | 10.06 | 14.39 |
| Market Cap at Offer Price (₹ Cr) | ₹32.71 | ₹46.70 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹62 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹10.40 Cr of the issue is earmarked to named objects.
About the company
Its range covers insecticides, fungicides, herbicides, plant growth regulators, rodenticides and fertilizers. As on the date of its Red Herring Prospectus it was licensed to make 176 agrochemical products, including 88 insecticides, 40 fungicides, 37 herbicides, 8 plant growth regulators and 3 rodenticides. It also holds authorisation to make 82 fertilizers, of which it currently makes 8.
It is licensed to sell across eight states, and as on 31 March 2026 it had 685 distributors supported by five godowns. Its manufacturing facility at Jhajjar in Haryana has an effluent treatment plant and a wet scrubber unit to handle wastewater and air emissions, and the company holds ISO 9001:2015 and ISO 22000:2018 certification.
Interested in this IPO? Check the live subscription status or browse all upcoming SME IPOs.
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The bankers & the filings
Who is running the book, and the documents this page is built from.
Company contact
Frequently asked
What is the GMP of Shivchem Agro?
The current Grey Market Premium is ₹1.5, or 2.42% over the issue price.
What is the Shivchem Agro IPO price band?
₹59 to ₹62, on a face value of ₹5.
When is the allotment?
The basis of allotment is 1 October 2026, with listing on 6 October 2026.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Maashitla Securities Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every SME and Mainboard issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
