Shanti Inorganics IPO

Shanti Inorganics IPO will open for subscription on Monday, 31 August 2026. The company produces and distributes inorganic chemicals based on sulphur and has one of the largest capacities in India for bisulphite production at 18,800 MTPA.

The company’s product portfolio includes ammonium bisulphite, sodium bisulphite, sodium metabisulphite and sodium sulphite anhydrous. It offers both food-grade and technical-grade products, enabling it to cater to customers across various end-use industries. It operates under the business-to-business (B2B) model and had 64 domestic customers and 20 international customers in FY26.

The company runs two manufacturing units in Ahmedabad, Gujarat. Vatva Unit ran at a high capacity utilisation of 92.60% in FY26. Phase I of the Bavla Unit, which commenced its operations in February 2025, had a capacity utilisation of 15.01% in FY26. The firm has a varied end-user base, where food & beverages and chemicals are the most dominant industries for the firm. Food & beverages made up 35.8% of the revenue from operations in FY26, whereas chemicals made up 22.3%. Oil Drilling, pharmaceuticals, ceramics and agrochemicals had contributions of 12.8%, 8.1%, 8.9% and 5.1%, respectively. The company has a diverse client base spread out over many geographic regions and has exported to 15 countries in FY26.