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Shellz India sets Rs 170-179 price band for SME IPO opening 15 October
Our read
Shellz India more likely than not fills its roughly ₹60 crore SME issue and lists near the ₹179 upper band, with the debt paydown its clearest benefit.
For operators
Shellz India, maker of Hugs and Tosca, is putting Rs 22 crore of its nearly Rs 60 crore raise toward debt repayment, so rival confectionery brands should expect a competitor with a lighter balance sheet after listing.
Watch
Final subscription multiple when the issue closes on 19 October
The report
Shellz India will open its IPO on 15 October at a price band of Rs 170-179 per share, raising nearly Rs 60 crore via a fresh issue of 33.5 lakh shares. The Hugs and Tosca confectionery maker will list on BSE SME on 23 October.
- Fresh issue proceeds
- nearly Rs 60 crore
- Earmarked for debt repayment
- Rs 22 crore
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Reported figures
From the report. Source details below
| FY26 revenue: | Rs 192.6 crore |
|---|---|
| Proceeds earmarked for debt repayment: | Rs 22 crore |
Why it matters to operators and investors
At a Rs 170-179 price band, the 15-19 October issue offers exposure to a confectioner with FY26 profit of Rs 13.37 crore on Rs 192.6 crore revenue, but a BSE SME listing on 23 October brings the usual thin-liquidity risk.
What to watch next
- Grey-market premium in the days before the 23 October listing
Likely next moves
Our read of what comes next — analysis, not reported by the source.
- Shellz India is likely to close the book on 19 October and finalise allotment ahead of the 23 October BSE SME listing.
- Smaller confectionery and packaged-food rivals may study the pricing and reception of this issue before they decide on SME listings of their own.
The source
First seen