Business
Shellz India plans Rs 60 crore BSE SME IPO
The Hindu BusinessLine··4d ago
Shellz India plans to raise Rs 60 crore through an IPO on the BSE SME platform. It will issue 33.50 lakh equity shares in a Rs 170 to 179 band, with subscription opening October 15. Proceeds will repay borrowings, fund working capital, cover issue costs and general corporate uses. Socradamus Capital is book-running lead manager; Bigshare Services is registrar.
Prism
What It Means For You
- Retail and other investors can subscribe from October 15 within the stated price band.
- Net proceeds are earmarked first for debt repayment and incremental working capital.
- Mansi Share and Stock Broking is market maker to the issue.
What's Happening
- Shellz sells confectionery under the Hugs and Tosca brands across more than 300 SKUs.
- Installed capacity at Sonipat is expected to rise from about 17,100 MTPA to about 34,500 MTPA.
- CMD Kapil Garg said the IPO will fund the next phase of growth and distribution reach.
Who Is Backing The Listing
- Neeraj Gupta, a pre-IPO investor and Meru Cabs founder, said Tosca gives Shellz a higher-value brand lane.
- Priyesh Jain of Socradamus Capital cited in-house manufacturing and an established distribution network.
- Products span baked treats, choco delights, jellies and sugar confectionery.
all-news
