Institutional Alpha Dossier
Loading Alpha Data...
MAINBOARD
SYNCING
GMP: ₹-
Est. Listing: Calculating...
01
Bidding Opens
-
Issue Open
02
Bidding Closes
-
Closing Date
03
Basis of Allotment
-
Registrar Finalization
04
Exchange Listing
-
Secondary Debut
Issue Price Valuation
₹-
Upper Cap Price
Price Band Cap:
Book Built / Fixed
Lot Size & Retail Matrix
- Shares
Minimum Market Lot
Min Capital:
₹-
Application Size:
-
Quant Grade & Moat Score
Proprietary Multi-Factor Moat Model
Synthesizing institutional thesis...
💼 MINIMUM INVESTMENT
Capital Matrix
Retail (Min Lot)
Up to ₹2 Lakhs Category
₹14195
HNI (Min Lot)
sNII / High Net-Worth Tier
₹198730
HNI Capital Multiple:
Institutional Lot Sizing
🍩 RESERVATION QUOTA (%)
Issue Allocation
100%
Total Issue
Anchor
30%
Market Maker
0%
QIB
20%
NII / HNI
15%
Retail
35%
Institutional Corporate Dossier
Shah Investor's Home
COMPANY PROFILE & DNA
Incorporation / Founded
12/10/1994
Active Vintage
Corporate Headquarters
Gandhinagar, Gujarat
Registered Hub
👔 Leadership & Promoter Group
Key Management
Upendra Trikamlal Shah, Purnima Upendra Shah, Tanmay Upendra Shah, Trupti Utpal Shah
⚙️ Business Overview & Portfolio
Core Offerings
Retail brokering firm offering equity, derivatives, IPO investing, mutual funds distribution, margin funding, and stock lending services.
🎯 Target Market & End-Use
Revenue Drivers
Funding working capital requirements and general corporate purposes.
🛡️
★ Unique Selling Proposition (Core Economic Moat)
Sizeable clientele across Gujarat, vast network of authorized persons, strong client relationships.
Objects of the Issue (Use of Proceeds & Allocation)
🎯 Objective 01
Funding working capital requirements
₹ 60.00 Cr
Allocation
🎯 Objective 02
General corporate purposes
Not Mentioned
Allocation
🎯 Objective 03
Not Mentioned
Not Mentioned
Allocation
🎯 Objective 04
Not Mentioned
Not Mentioned
Allocation
Financial Performance & Multi-Year Trajectory
All Figures in ₹ Crores
Latest Total Income📊
₹-
Top-Line
EBITDA Margin⚡
-%
Operating
Net Profit (PAT) Margin📈
-%
Bottom-Line
Debt / Net Worth🛡️
-x
Leverage
📊 Income, EBITDA & Profit Growth Trajectory
Income
EBITDA
PAT Trend
🏛️ Balance Sheet: Net Worth vs Debt
Net Worth
Borrowing
| Particulars | FY26 | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Total Income | 72.40 | 94.46 | 79.05 | 0.00 |
| EBITDA | 19.74 | 33.67 | 23.69 | 0.00 |
| Profit After Tax (PAT) | 13.20 | 23.38 | 17.93 | 0.00 |
| Net Worth | 180.54 | 169.06 | 151.49 | 0.00 |
| Total Borrowing | 18.47 | 5.71 | 3.54 | 0.00 |
Growth Engine & Compounding Velocity (KPIs)
Multi-Year Trajectory
94.46
₹ Cr
YoY Growth
19.49%
3-Year CAGR
0.00%
33.67
₹ Cr
YoY Growth
42.13%
3-Year CAGR
0.00%
23.38
₹ Cr
YoY Growth
30.40%
3-Year CAGR
0.00%
Capital Efficiency & Return Ratios (ROE vs ROCE)
Capital Allocation Audit
◈ ROE (Return on Equity)
Calculating...
-%
Current ROE
◈ ROCE (Capital Employed)
Calculating...
-%
Current ROCE
| MetricMetric | Current (%)Curr% | Last Year (%)Last% | 3-Yr Avg (%)3Y Avg | Trend StatusTrend |
|---|---|---|---|---|
| ROE (Return on Equity)ROE | 13.83% | 11.84% | 8.56% | Consistent |
| ROCE (Capital Employed)ROCE | 19.27% | 15.28% | 11.52% | Consistent |
Forensic Analysis & Reality Check
Earnings Quality & Dilution Audit
-0.59
CFO / EBITDA
Cash Flow Conversion Efficiency
Checking...
Analyzing operating cash flow conversion...
| Parameter | Pre-IPO | Post-IPO | View |
|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | Low |
| EPS (₹) | ₹ 0.01 | ₹ 0.01 | Diluting |
| ROE (%) | 13.83% | 3.30% | Bad |
| ROCE (%) | 19.27% | 4.63% | Bad |
| P/E (Valuation) | 15109.43x | 26762.00x | Reasonable |
⏳ Debtor Days Trend (Receivables Cycle)
Analyzing...
FY23
FY24
FY25
Lower receivable days indicate faster cash collection from clients.
⚠️ Contingent Liabilities
Off-Balance Sheet
₹ 64.25 Cr
*Potential hidden obligations & legal/tax claims
Peer Comparison Analysis & Competitive Matrix
Industry Benchmarking
| Company NameComp | Revenue (Cr)Rev | P/E RatioP/E | ROCE (%)ROCE | ROE (%)ROE | OPM (%)OPM |
|---|---|---|---|---|---|
| Shah Investor's Home IPO CANDIDATE | 94.46 | 26762.00 (Ask) | 19.27% | 3.30% (Post Issue) | 35.64% |
| SMC Global Securities Limited | ₹ 1876.92 Cr | 16.28 | 11.27% | 8.09% | 20.05% |
| Share India Securities Limited | ₹ 1470.26 Cr | 11.7 | 17.92% | 13.02% | 38.79% |
| Arihant Capital Markets Limited | ₹ 205.84 Cr | 27.09 | 10.86% | 7.62% | 32.24% |
| Not Mentioned | ₹ 0 Cr | 0 | 0.00% | 0.00% | 0.00% |
| Not Mentioned | ₹ 0 Cr | 0 | 0.00% | 0.00% | 0.00% |
▲ Positive Catalysts (Strengths + Opportunities):
8 Factors
▼ Risk Vectors (Weaknesses + Threats):
8 Factors
Strengths
Internal Competitive Moat
- Sizeable clientele across Gujarat
- Strong track record of financial performance
- Leveraging technology to enhance client satisfaction
- Integrated brokerage model with long term client relationships
Weaknesses
Internal Operational Constraints
- Impacted by Market Activity (cyclical business)
- Competitive Landscape (digitalization, pricing pressure)
- Technology and Operational Efficiency (reliance on platforms)
- Regulatory Environment (compliance burden)
Opportunities
External Growth Tailwinds
- Favourable Demographics (youthful population, wealth creation)
- Increasing penetration of Capital Markets (rising household savings)
- Digital Payments Boom (easier access to financial markets)
- Structural and Regulatory Reforms (improved market efficiency)
Threats & Risks
External Macro & Sector Headwinds
- Market risk (economic shifts, geopolitical incidents)
- Credit risk (issuers default on debt obligations)
- Liquidity risk (financial instability, asset sales)
- Regulatory Risk (policy changes, trade regulations)
Top 10 Anchor Investors & Smart-Money Allocation
INSTITUTIONAL BOOK
Top 10 Anchor Commitment
₹- Cr
Smart-Money Quality Score
- / 5.0 ★
Marquee Conviction
SEBI Anchor Lock-In Schedule
30D (50%) • 90D (50%)
Mandatory Lock-In
Anchor Book Allocation Pending Exchange Filing
Institutional anchor investor bidding & allocation disclosures are officially filed with NSE/BSE 1 working day prior to the IPO opening date.
| Rank | Marquee Anchor Institution | Smart-Money Grade | Amount Invested | Anchor Share (%) |
|---|
171
The company benefits from client stickiness but operates in a highly fragmented industry and faces high working capital requirements, leading to negative operating cash flows.
30
0
QIB Quota
Qualified Institutional Buyers
Smart Money
-x
Institutional Book
Inst. Conviction:
Evaluating
NII / HNI Quota
sNII (₹2L-10L) & bNII (₹10L+)
HNI Desk
-x
Non-Institutional
HNI Competition Ratio:
-
Retail (RII) Quota
Individual Investors (Up to ₹2L)
SEBI Lottery
-x
Retail Book
Retail Allotment Odds:
-