Deadline: the Shellz India SME IPO opens for subscription on October 15, 2026 and closes on October 19, 2026. Allotment is expected to be finalised on October 21, with a tentative listing on the BSE SME platform on October 23, 2026.

Shellz India Limited, a confectionery manufacturer selling under the brand names "Hugs" and "Tosca", aims to raise ₹59.97 crore through an entirely fresh issue of 33,50,400 equity shares of ₹10 face value. The price band is fixed at ₹170–₹179 per share, with a lot size of 1,600 shares — a minimum retail application of two lots (1,600 shares) costs ₹2,86,400 at the upper band, while HNIs must apply for at least three lots (₹4,29,600).

Anchor backing and use of proceeds

Ahead of the opening, the board finalised anchor allotment on October 14, 2026, raising ₹16.19 crore from anchor investors at ₹179 per share. Sanshi Fund I took the largest anchor share at 43.32%, followed by India Max Investment Fund (30.95%), Vikasa India EIF I Fund – INCUBE Global Opportunities (18.57%) and Resonance Opportunities Fund (7.16%).

Of the net proceeds, ₹22 crore will repay or prepay borrowings, ₹23 crore will fund incremental working capital, and the rest goes to general corporate purposes. The book-running lead manager is Socradamus Capital and the registrar is Bigshare Services.

Eligibility

Individual investors can apply for a minimum of two lots (1,600 shares); not less than 35% of the net issue is reserved for individual bidders, not less than 15% for non-institutional bidders, and not more than 50% for QIBs including the anchor portion. Applications must be made through the ASBA process with a valid demat account and PAN.

How to apply

To apply for the Shellz India SME IPO: log in to your broker's IPO section or your bank's ASBA facility between October 15 and October 19, 2026, select the Shellz India issue, enter your bid within the ₹170–₹179 band for at least one lot of 1,600 shares (retail: minimum 2 lots), and confirm the UPI mandate to block funds. Verify the final RHP and exchange notices before applying.

Why it matters for founders

A consumer brand going the SME-IPO route — rather than raising another private round — is a financing path more founders should study. For profitable regional brands, the BSE SME platform offers public-market capital without unicorn-scale metrics; the anchor book here shows institutions will back it when the story is clean.