# Shah Investor's Home Limited: IPO analysis

> Shah Investor's Home Limited (CIN U67120GJ1994PLC023257) has filed a Red Herring Prospectus with SEBI for an IPO comprising a fresh issue of 53,99,200 shares, priced at ₹159.00 to ₹167.00 per share. In FY26 it reported revenue of ₹71 Cr (-24.2% on FY25) and a net profit of ₹13 Cr. Promoters hold 61.0% before the IPO. Our fact-check of its claims found no medium or high concerns across 47 claims checked.

- Page: https://ipo.innerkore.com/company/U67120GJ1994PLC023257/shah-investor-s-home-limited/
- CIN: U67120GJ1994PLC023257
- Last updated: 23 Sep 2026

## Key facts

- **Company:** Shah Investor's Home Limited
- **CIN:** U67120GJ1994PLC023257
- **Filing stage:** RHP
- **Latest SEBI filing:** 23 Sep 2026
- **Price band:** ₹159.00 to ₹167.00 per share
- **Bidding opens:** 28 Sep 2026
- **Bidding closes:** 30 Sep 2026
- **Listing on:** BSE, NSE
- **Revenue FY26:** ₹71 Cr
- **Revenue growth:** -24.2%
- **Net profit FY26:** ₹13 Cr
- **Revenue CAGR FY24 to FY26:** -4.2%
- **Promoter holding (pre-IPO):** 61.0%
- **Lead managers:** BEELINE CAPITAL ADVISORS PRIVATE LIMITED
- **Registrar:** MUFG INTIME INDIA PRIVATE LIMITED
- **Fact-check flags:** 0 high, 0 medium, 3 low

## Key signals (read from the filing; not investment advice)

- **Valuation** (look closer): 27x P/E. From NSE's price band, on FY26 profit.
- **Growth** (concern): -4.2% a year. Sales FY24 to FY26; latest year -24.2%.
- **Profitability** (looks fine): 18.3% net margin. FY26; operating margin slipping.
- **Profit into cash** (concern): -150% of profit. Operations brought in ₹-19.7 crore against ₹13.1 crore of profit in FY26.
- **One-off income** (looks fine): 5% of profit. Other and one-off income is 5% of pre-tax profit.
- **Where the money goes** (looks fine): All new money. 100% is new shares issued by the company. (converted using NSE's price band)
- **Red flags** (looks fine): None serious. 47 claims checked: 0 high, 0 medium concern.

## Financial snapshot (₹ crore unless stated; consolidated)

| | FY24 | FY25 | FY26 |
|---|---:|---:|---:|
| Sales | 78 | 94 | 71 |
| Sales growth | – | 21.1% | -24.2% |
| Operating profit | 25 | 35 | 22 |
| Operating margin | 32.3% | 37.5% | 30.2% |
| Net profit | 18 | 23 | 13 |
| Net margin | 23.2% | 24.8% | 18.3% |

## Use of proceeds (fresh issue)

- Funding working capital requirements of our Company: ₹60 crore
- General corporate purposes^: amount not fixed yet

## Fact-checked claims

- **LOW** (RegulatoryAction): The Board approved the Draft Red Herring Prospectus for filing with SEBI and the Stock Exchanges on September 29, 2025.. One search result indicates that Shah Investor's Home filed its DRHP with SEBI on September 29, 2025, which corroborates the claim. Another result mentions the launch of a mainboard IPO on September 28th, which is close to the date mentioned in the claim.
- **LOW** (SubsidiaryPerformance): SEBI regulates mutual funds to ensure transparency and investor protection, requiring fund houses to register, appoint fund managers, and follow guidelines on diversification and risk management.. The search results primarily relate to the IPO and financial performance of Shah Investor's Home, mentioning its role as a stock broker and details about the IPO process, rather than directly confirming or denying the regulatory framework described in the claim regarding SEBI's role in mutual funds. One result mentions SIHL as a SEBI Registered Stock Broker, which is related to the company's operations.
- **LOW** (RegulatoryAction): Certification was made that all relevant provisions of the Companies Act, 2013 and guidelines, regulations, or rules issued by the Government of India or SEBI have been complied with.. The search results mention a past settlement by Shah Investor's Home with SEBI and information regarding an IPO launch, but they do not directly confirm or deny the broad claim that all relevant provisions of the Companies Act, 2013 and SEBI guidelines have been complied with.
- **NONE** (PromoterBackground): The total shareholding of Other public shareholders is 3.78% of the pre-issue equity share capital.. The provided search results do not contain information that corroborates, contradicts, or updates the specific claim regarding the total shareholding of Other public shareholders being 3.78% in the DRHP. The search results primarily relate to general SEBI regulations, investor surveys, and other regulatory actions.
- **NONE** (PromoterBackground): The total aggregate pre-Issue shareholding of Promoters, Promoter Group, and top 10 Shareholders amounts to 100.00%.. The provided search results do not contain any information that directly corroborates or contradicts the claim regarding the total aggregate pre-Issue shareholding of Promoters, Promoter Group, and top 10 Shareholders amounting to 100.00%. The results mainly discuss general SEBI regulations, insider trading investigations, and market activities, without specific data on the shareholding structure mentioned in the DRHP claim.
- **NONE** (PromoterBackground): Trupti Utpal Shah holds 4.13% of the pre-issue equity share capital.. The provided search results do not contain information that directly corroborates or contradicts the claim that Trupti Utpal Shah holds 4.13% of the pre-issue equity share capital in Shah Investor's Home Limited. The search results primarily discuss general SEBI regulations, insider trading investigations, and market activities, without mentioning this specific ownership detail.
- **NONE** (PromoterBackground): Tanmay Upendra Shah holds 15.90% of the pre-issue equity share capital.. The provided search results do not contain information that directly corroborates or contradicts the claim that Tanmay Upendra Shah holds 15.90% of the pre-issue equity share capital in Shah Investor's Home Limited. The search results primarily relate to general SEBI regulations, investor surveys, and other market-related news.
- **NONE** (PromoterBackground): Purnima Upendra Shah holds 21.90% of the pre-issue equity share capital.. The provided search results do not contain information that directly corroborates or contradicts the claim that Purnima Upendra Shah holds 21.90% of the pre-issue equity share capital in Shah Investor's Home Limited. The search results primarily discuss general SEBI regulations, investor surveys, and other market-related news, without specific details on the ownership structure mentioned in the DRHP claim.
- **NONE** (PromoterBackground): Upendra Trikamlal Shah holds 19.04% of the pre-issue equity share capital.. The provided search results do not contain information that directly corroborates or contradicts the claim that Upendra Trikamlal Shah holds 19.04% of the pre-issue equity share capital in Shah Investor's Home Limited. The search results primarily discuss general SEBI regulations, insider trading investigations, and market activities, without mentioning this specific ownership detail.
- **NONE** (RegulatoryAction): Investors shall be compensated by SCSBs for delayed unblocking of applications according to SEBI ICDR and RTA Master Circulars.. The search results do not contain any direct information corroborating or contradicting the claim that investors shall be compensated by SCSBs for delayed unblocking of applications according to SEBI ICDR and RTA Master Circulars. The results primarily relate to legal settlements, IPO details, and regulatory actions concerning the company.
- **NONE** (LitigationStatus): SEBI imposed a penalty of ₹4,0 on the Company for violating provisions of SEBI Circulars related to the flow of client funds.. The provided search results do not contain any direct information confirming or denying a penalty imposed by SEBI for violating circulars related to the flow of client funds by Shah Investors Home Limited.
- **NONE** (PromoterBackground): The company has disclosed transactions with Arthika Quantomics Private Limited, including loan given, for the year ended March 31, 2024, amounting to ₹21.09 lakhs.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the disclosed transactions between Shah Investor's Home Limited and Arthika Quantomics Private Limited.

## Common questions

### How big is the Shah Investor's Home Limited IPO?

Shah Investor's Home Limited's IPO comprises a fresh issue of 53,99,200 shares, according to its Red Herring Prospectus. The price band is ₹159.00 to ₹167.00 per share.

### What are Shah Investor's Home Limited's revenue and profit?

Shah Investor's Home Limited reported revenue from operations of ₹71 Cr in FY26, -24.2% versus FY25. Net profit was ₹13 Cr (FY25: ₹23 Cr). Revenue grew at a compound rate of -4.2% a year from FY24 to FY26. Figures are read from the RHP, as printed there.

### How much do promoters own in Shah Investor's Home Limited?

Promoters hold 61.0% of Shah Investor's Home Limited before the IPO.

### How will Shah Investor's Home Limited use the IPO money?

The fresh-issue proceeds are earmarked for: Funding working capital requirements of our Company (₹60 Cr); General corporate purposes^ (amount not fixed yet).

### What are the red flags in Shah Investor's Home Limited's RHP?

We fact-checked 47 claims from the filing against the open web: 0 raised a high concern, 0 medium and 3 low. This is an automated screen, not a verdict; each finding links to its sources.

### What does Shah Investor's Home Limited do?

तो Shah Investor's Home Limited के IPO की बात करें, तो एक डिटेल जो अक्सर नज़रअंदाज़ कर दी जाती है, वो है कि ये कंपनी SEBI Registered Stock Broker के तौर पे काम कर रही है, जो सीधे तौर पे इनके operations को define करता है।

### Who manages the Shah Investor's Home Limited IPO?

Book running lead managers: BEELINE CAPITAL ADVISORS PRIVATE LIMITED. Registrar to the offer: MUFG INTIME INDIA PRIVATE LIMITED. Shares are proposed to list on BSE and NSE.

### Where can I read the original Shah Investor's Home Limited IPO documents?

All 2 filings for Shah Investor's Home Limited (DAP, RHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document.

## Source documents

- [Shah Investor's Home Limited - RHP](https://www.sebi.gov.in/sebi_data/commondocs/sep-2026/SIHL_Abrigde%20Prospectus_p.pdf) (Abridged prospectus (DAP), filed 23 Sep 2026)
- [Shah Investor's Home Limited - RHP](https://www.sebi.gov.in/sebi_data/attachdocs/sep-2026/1790140810519.pdf) (Red Herring Prospectus, filed 23 Sep 2026)

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Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.