Shah Nanotech Files DRHP for IPO with Strong Financials and Defined Risks

Mumbai, September 30, 2025 – Shah Nanotech Limited has filed its Draft Red Herring Prospectus (DRHP) for an Initial Public Offering (IPO) on the NSE SME platform. It proposes to raise funds through a fresh issuance of equity shares and list on the NSE and BSE, with the NSE being the intended stock exchange.

Shah Nanotech IPO Book Running Lead Manager & Registrar

The company has selected GYR Capital Advisors Pvt. Ltd. as its Book Running Lead Manager to whom Jitendra Mewada will be accessible to address investor calls. Interested investors can reach out through email at shahnano.ipo@gyrcapital.com or by phone at +91 22 6239 0284.

The Issue Registrar is Skyline Financial Services Pvt. Ltd., and Viren Shah is to be reached. Interested investors may reach out to him at shahnano.ipo@skylinerta.com or +91 22 4971 2236.

Shah Nanotech IPO Financial Performance

Shah Nanotech Ltd has posted impressive growth over the past three fiscal years, reflecting its expanding business and solid profitability. Income from operation of the business rose from ₹5,168.30 lakh in FY2023 to ₹9,427.39 lakh in FY2025 in a steady year-on-year trajectory.

Profit after tax (PAT) also saw a significant uptick as it surged from ₹740.47 lakh in FY2023 to ₹2,341.56 lakh in FY2025, whereas earnings per share (EPS) nearly tripled twice during the same period as it surged from ₹4.84 to ₹14.84.

The net worth of the firm improved substantially from ₹11,706.89 lakh during FY2023 to ₹18,067.26 lakh during FY2025, while that of its NAV per share improved from ₹74.56 to ₹106.70, evidencing improving shareholder value. Total borrowings remained unchanged at ₹3,380.29 lakh.

Shah Nanotech IPO Dividend Record

Shah Nanotech Limited has faithfully paid its shareholders regular dividends during the last couple of years:

• FY2023: ₹0.50 per share (5%), total ₹78.77 lakh
• FY2024: ₹1.00 per share (10%), total ₹157.54 lakh
• FY2025: ₹1.00 per share (10%), total ₹157.54 lakh
• FY2026 (till DRHP date): ₹1.00 per share (10%), total ₹157.54 lakh

This shows the company’s commitment to providing regular returns to its investors.

Shah Nanotech IPO Key Risks

The DRHP refers to the following business risks:

• Revenue Concentration: Broking contributes 68.90% of FY2025 revenue, such that revenue is sensitive to changes in volume of trades.
• Exchange Reliance: The company is relying on Indian exchanges like NSE and BSE. Disruption of their functioning could affect business continuity.
• Working Capital Intensive: Net working capital was ₹4,441.79 lakh as on March 31, 2025.
• Technology Risks: Overreliance on IT infrastructure exposes an entity to a greater risk of system failure and cyber attacks.
• Authorised Persons Network: Client generation is a function of an authorised persons network. Attrition in this context might affect growth.

Shah Nanotech IPO Business Overview

Shah Nanotech Limited deals in nanotechnology and is also engaged in providing financial services like broking, depository services, and margin funding. It has offered strong financial performance along with a steady dividend record to position itself for further growth through this proposed IPO.

REF: https://www.bseindia.com/corporates/download/329350/IPO Prior/SHAH_DRHP_20250930012811.pdf

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations