Shanti Inorganics IPO Details: Key Dates, Price Band & Investment Overview

By Wealthova | Last Updated: August 25, 2026

Shanti Inorganics Limited, an established manufacturer specializing in sulfur-based inorganic chemicals, is gearing up to make its primary market debut with an upcoming ₹47.24 Crore SME IPO. Known for holding one of the largest domestic production capacities for bisulphites, the company produces a diverse range of chemicals including sodium metabisulfite, sodium sulfite powder, and ammonium bisulfite solution. The company operates a robust B2B business model, supplying these essential chemicals as preservatives and reducing agents to multiple industries such as oil drilling, pharmaceuticals, food and beverages, pulp and paper, and water treatment. The subscription window for this book-built issue opens on August 31 and closes on September 2, 2026. The price band is set between ₹79 to ₹83 per equity share, comprising entirely of a fresh issue of ₹47.24 Crore with no Offer for Sale (OFS) component. The company plans to utilize the fresh capital primarily for capital expenditures to expand its manufacturing capacities at its Bavla facility, alongside general corporate purposes. Set to list on the NSE SME platform, market participants are closely watching this fast-growing chemical manufacturing player. Below, we break down the financial health, industry risk factors, and our honest Smart Market Insights to help you decide if you should subscribe to this issue!

Established in 1998 and based in Ahmedabad, Gujarat, Shanti Inorganics Limited (also known as Shanti Inorgochem) has evolved into a prominent manufacturer and supplier of sulfur-based inorganic chemicals. Starting initially with the production of sodium bisulfite powder, the company has expanded its operations over the last 25 years through continuous research and development to offer a highly specialized product portfolio.

Today, the company operates a robust B2B business model and holds one of the largest domestic production capacities for bisulfites, boasting an impressive capacity of 18,800 Metric Tonnes Per Annum (MTPA). Their manufacturing footprint includes two strategically located facilities in Gujarat: Unit-I in Vatva and Unit-II (Phase I) in Bavla, both equipped with advanced production technologies.

Key Product Portfolio & Applications: The company categorizes its chemical products into multiple purity levels (including food grade and technical grade) to cater to diverse industrial applications:

• Sodium Metabisulfite (98–100% Purity): Widely used as a preservative and antioxidant.
• Sodium Sulfite Anhydrous (96–100% Purity): Essential as an oxygen scavenger in water treatment.
• Sodium Bisulfite (Powder & Solution): Utilized as a reducing agent across multiple processes.
• Ammonium Bisulfite Solution: Highly critical for industrial applications like oil drilling.

Industries Served: These specialized sulfur-based chemicals serve as critical process intermediates, preservatives, and reducing agents across a wide spectrum of high-barrier global industries, including:

• Oil Drilling & Exploration
• Pharmaceuticals
• Food and Beverages
• Water Treatment Plants
• Pulp and Paper Production

With a strong emphasis on consistent quality, food safety compliance, and continuous innovation, Shanti Inorganics has built a diverse client base across both domestic and international export markets.

The Shanti Inorganics IPO is a 100% fresh issue of shares aggregating up to ₹47.24 Crore, meaning all the money raised will go directly into the company’s bank account to fund its growth rather than cashing out existing promoters.

The company intends to utilize the net proceeds from this fresh capital for the following strategic objectives:

• Funding Capital Expenditure (₹43.00 Crore): The vast majority of the funds will be deployed towards setting up a brand new, greenfield manufacturing facility (Phase II) at their existing Bavla site in Ahmedabad, Gujarat. This expansion is designed to drastically increase their installed production capacities for sodium metabisulfite, sodium bisulfite powder, and ammonium bisulfite to meet the rapidly growing demand from their industrial clientele.
• General Corporate Purposes: The remaining balance will be allocated toward general corporate needs, which may include routine business investments, operational expenses, or strengthening the company's balance sheet.