Shellz India’s IPO schedule runs from October 15 to October 19, 2026. Its official advertisement specifies a ₹170–179 price band and a minimum application of 1,600 shares—not one 800-share lot. At the cap price, that means ₹286,400 before any intermediary charges; an application does not guarantee allotment.
Offer facts: lot size is not the minimum bid
| Item | Verified term or calculation |
|---|---|
| Proposed exchange | BSE SME |
| Offer structure | Fresh issue of up to 33,50,400 shares; no OFS |
| Gross size at cap | Calculated approximately ₹59.97 crore; not net issuer proceeds |
| Band / face value | ₹170–179 / ₹10 per share |
| One lot / minimum | 800 / 1,600 shares; further bids in 800-share multiples |
| Minimum at cap | 1,600 × ₹179 = ₹286,400 |
| Offer period | October 15–19, 2026 |
| UPI mandate deadline | October 19, 5 PM IST |
| Indicative allotment / trading | On or before October 21 / October 23 |
| Registrar | Bigshare Services Private Limited |
Fresh capital and a material correction
The abridged prospectus earmarks ₹22 crore of net proceeds for debt repayment or prepayment and ₹23 crore for additional working capital in fiscal 2027. These are proposed uses, not debt already repaid or cash already deployed. Gross issue size includes amounts that are not available as net proceeds.
A notice dated October 12, published on October 13, corrects earlier unpledged-holding disclosure. It states that 16,70,000 shares held by promoter Kapil Garg are pledged: 21.74% of all promoter-held shares and 19.16% of total pre-issue equity. A pledge means the shares are provided as security; it is not a sale of those shares in this IPO.
What remains unverified
CapKet has not captured current exchange subscription figures or checked each intermediary’s application window. The dates above are the published offer programme, not a claim that bidding is available at every hour. Allotment and trading dates are indicative, not completed events. The documents also identify borrowing and repayment-history risks; no listing return is assured. Related report: Fusion CX’s fresh issue, OFS and application terms.
Primary documents and observation time
Sources checked October 15, 2026, 17:37:57 IST: issuer abridged prospectus · pre-issue advertisement · pledged-holdings correction.
Recorded source observation: . This is a source-check timestamp, not a market quote or a new article update.