Shah Investors Home Ltd

SHAHINVEST Shah Investors Home Ltd

BSE IPO

Bidding dates28 Sep 2026 - 30 Sep 2026

Price range₹159 - ₹167

Min. investment₹14,195

Issue size90.17 Cr

Lot size85 Shares

IPO DocRHP

IPO Timeline

Start date

28 Sep 2026

End date

30 Sep 2026

Allotment date

01 Oct 2026

Refund initiation

05 Oct 2026

Share credit

05 Oct 2026

Deactivate mandate

06 Oct 2026

About company

Incorporated in October 1994, Shah Investor’s Home Limited is a retail broking company providing a range of financial services, with over three decades of experience in the securities market. The Company primarily offers equity and derivatives brokerage services, facilitating the buying and selling of equities, IPOs and other securities for retail customers, including resident and non-resident Indians. In addition to its core brokerage operations, the Company provides mutual fund distribution, margin funding, and stock lending and borrowing (SLB) services under the brand name “Shah Investors”. As of March 31, 2026, the Company had served over 1,00,000 demat accounts, with more than 38,000 active clients and a network of over 181 authorised persons.

The Company operates through 11 branches across Mumbai, Ahmedabad, Vadodara, Junagadh, Gandhinagar and Rajkot, with its branch and authorised-person network primarily serving customers across Gujarat and Maharashtra. The Company started its operations as a Trading Member of the National Stock Exchange of India Limited in 1995 and registered as a Depository Participant with NSDL in 1997.

The Company has progressively adopted technology across its operations. It implemented a VMWare-based virtualised environment in 2007, launched its digital app-based platform “SIHL Moneymaker” in 2023, and had over 12,452 active registered users as of March 31, 2026. It also operates an in-house ERP system across its branches and franchises. In Fiscal 2026, the Company launched “ALGOFY”, an API-powered algorithmic trading platform that enables strategy development, testing, deployment, automation and management through APIs, pre-built strategies and a no-code interface.The Company is supported by an experienced management team and focuses on building long-term client relationships while expanding its retail and HNI customer base.

As of July 31, 2026, the Company had 167 permanent employees across accounts, compliance, demat, helpdesk, research, IT, MTF & SLB, sales, trading and other functions.

Founded in 1994

Managing director Tanmay Upendra Shah

Parent organisation Shah Investor's Home IPO

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Strengths and Risks

Strengths

Established in 1994, the company brings over three decades of retail brokerage experience, navigating multiple market cycles and building deep relationships with active retail investors.

Beyond traditional equity broking, the firm provides mutual fund distribution, depository participant services, margin trade funding, and stock lending/borrowing, creating supplementary revenue streams.

It supports client engagement through proprietary mobile interfaces (such as the SIHL Moneymaker app) and algorithmic trading capabilities (ALGOFY), helping capture tech-forward traders.

Risks

Brokerage revenues and fee income are fundamentally tied to stock market turnover, trading sentiment, and volumes. Reflecting broader market fluctuations, the company experienced a pullback in financial performance, with total income moderating to ?72.40 crore and Net Profit declining to ?13.11 crore.

A vast majority of its physical branches and core client base are concentrated in western India (primarily Gujarat and Maharashtra), exposing revenues to regional economic shifts or local compliance changes.

The retail brokerage landscape faces severe structural competition from deep-pocketed discount brokers and zero-brokerage digital platforms that have compressed traditional commission rates.