Shellz India IPO is set to enter the Indian primary market on October 15, 2026, and will remain open for subscription until October 19, 2026. The  book-built SME issue comprises a fresh issue of 33,50,400 equity shares, each with a face value of Rs 10, at a price band of Rs 170– Rs179 per share. The company aims to raise approximately Rs 59.97 crore, and its shares are proposed to be listed on the BSE SME platform. 

Socradamus Capital Private Limited is the lead manager, while Bigshare Services Private Limited is the registrar. The company’s promoters are Kapil Garg and Shalini Garg, who lead the business and hold key roles in its management. The proceeds are intended to support working capital requirements, repay or prepay certain borrowings, and meet general corporate expenses. 

About Shellz India Ltd.

Shellz India Ltd. manufactures and markets confectionery products across India, with a portfolio of more than 250 SKUs covering chocolates, jellies, baked treats and other confectionery items. The Company also manufactures and supplies food and bakery ingredients to customers across urban and semi-urban areas, smaller towns and rural markets. 

Its consumer products are sold under two brands, Hugs and Tosca. Hugs targets the mass market with products across baked treats, chocolate-based confectionery, jellies, and panned and sugar confectionery. As of September 30, 2025, the Company's distribution network included more than 200 super stockists, with products available through kirana outlets across approximately 24 states. Tosca caters to the mass-premium segment, offering higher-priced products with differentiated formats and packaging for urban consumers. 

Alongside its branded products, Shellz India undertakes private-label manufacturing for third-party customers and exports confectionery products to markets in the Middle East, Southeast Asia and Europe, including Spain. These channels help the Company serve different customer segments and expand its market reach.