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Sheel Biotech Ltd IPO

Status:

Overview

IPO date
30 Sept 2025 to 03 Oct 2025
Face value
₹ 0 per share
Price
₹ 59 to ₹63 per share
Issue Size
5,400,000 shares
(aggregating up to ₹ 34.02 Cr)
Allotment Date
06 Oct 2025
Listing at
NSE
Issue type
Book Building - SME
Sector

Objectives of Sheel Biotech Ltd IPO

Sheel Biotech Ltd IPO Strategy

About Sheel Biotech Ltd

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T&C*

Strengths vs Risks of Sheel Biotech Ltd

Know the pros & cons

Strengths

  • arrowOur ability to capitalize the opportunities and growth in the Tissue Culture industry.
  • arrowPromotion of Tissue Culture industry by the Government of India.
  • arrowCordial relations with our clients.

Risks

  • arrowThe company depends on government tenders for its revenue of operations. Any unavailability or any failures to secure these tenders in the future may adversely affect the company's business operations and financial conditions.
  • arrowOne of the company's business segment Tissue culture demands the highest level of precautions in quality, storage, and temperature management. Any negligence in these areas can significantly affect its business outcomes.
  • arrowThe company uses the proper techniques in the whole tissue culture process. Any Ineffective sterilization of tools and media can lead to contamination, which would adversely affect the entire culture.
  • arrowThe company's business is subject to seasonal fluctuations that could result in delays or disruptions to its operations during the critical periods of the company's projects and cause severe damage to its premises and equipments.
  • arrowThe Company is involved in certain legal proceedings/litigations. Any adverse decision in such proceedings may render us/them liable to penalties and may adversely affect ist business and result of operations.
  • arrowThe company's success depends largely upon the services of its Directors, Promoters and other Key Managerial Personnel and the company's ability to attract and retain them. Demand for Key Managerial Personnel in the industry is intense and its inability to attract and retain Key Managerial Personnel may affect the operations of the Company.
  • arrowAny disruption, breakdown or shutdown of its research and development may have a material adverse effect on the company's tissue culture segment, financial condition, results of operations and cash flows.
  • arrowThe company had negative cash flows in the past and may continue to have negative cash flows in the future.
  • arrowThe Company does not own the premises through which the company conducts its business operations.
  • arrowThere have been instances of delay in filing of GST and ESIC returns of the Company. The company may be subject to regulatory actions and penalties for any such delays and its business, financial condition and reputation may be adversely affected.
  • arrowThe Company may not have complied with certain statutory provisions of the Companies Act, 2013. Such non- compliances / lapses may attract penalties and prosecution against the Company and its directors which could impact on the financial position of the Company to that extent.
  • arrowThe company depends on a limited number of customers for a significant portion of its revenues. The loss of a major customer or significant reduction in demand from any of the company's major customers may adversely affect its business, financial condition, results of operations and prospects.
  • arrowThe restated financial statement of the company has been provided by the peer reviewed chartered accountant who is not the statutory auditor of the Company.
  • arrowThe Company may not have complied with certain statutory provisions of the Companies Act, 2013. Such non- compliances / lapses may attract penalties and prosecution against the Company and its directors which could impact on the financial position of the Company to that extent.
  • arrowAs per the PCS Certificate dated September 17, 2025, issued by M/S Sonia Patel and Associates, the company has inadvertently not complied with certain statutory provisions of the Companies Act, 2013.
  • arrowIf the company does not deliver government projects on time, the likelihood of receiving future bids diminishes significantly. This delay may have a material adverse effect on its business, financial condition, results of operations, and prospects.
  • arrowThe company's Top 10 Suppliers contribute a significant portion of its raw material purchase during the period ended March 31, 2025, and previous financial years. Any dispute with one or more of them may adversely affect the company's business operation
  • arrowThe company requires high working capital for its smooth day to day operations of business and any discontinuance or the company's inability to procure adequate working capital timely and on favorable terms may have an adverse effect on its operations, profitability and growth prospects.
  • arrowMajority of the company's state wise revenues from operations for the last 3 years is majorly derived from below mentioned states. Any adverse developments affecting its operations in this state could have an adverse impact on the company's revenue and results of operations.
  • arrowThe company's contingent liabilities as stated in its Restated Financial Statements could adversely affect the company's financial conditions.
  • arrowWeather conditions and pest attacks could adversely affect the production of the company's plants, as well as the demand for its plants, which may adversely affect the company's business, financial condition, results of operations and prospects.
  • arrowThe company's proposed capital expenditure relating to production of blueberries are subject to the risk of unanticipated delays in implementation and cost overruns.
  • arrowIf the company does not deliver government projects on time, the likelihood of receiving future bids diminishes significantly. This delay may have a material adverse effect on its business, financial condition, results of operations, and prospects.
  • arrowThe company's inability to comply with environmental laws and other regulatory requirements in relation to water waste Management may adversely affect its business, financial condition and results of operations.
  • arrowThe Company has entered into certain related party transactions in the past and may continue to do so in the future.
  • arrowThe company has issued Equity Shares during the last one year at a price that may be below the Issue Price.
  • arrowThe Company has been incorporated in the year 1991 and the secretarial data of the company can be fetched from the ROC website after 2006 only. We have relied on the data provided by the management from internal records or from independent professionals.
  • arrowThe company's promoters have vast experience in the industry. The experience of the promoters have been mentioned as per the available experience letters, declarations and affidavits furnished by certain of its promoters for details of their profiles included in this Red Herring Prospectus.
  • arrowThe company's business operations are subject to various operating risks at its sites, accidental risk, the occurrence of which can affect the company's results of operations and consequently, financial condition of the Company.
  • arrowThe company may not be able to prevent unauthorized use of trademarks obtained/ applied for by third parties, which may lead to the dilution of its goodwill.
  • arrowThe Company has unsecured loans that may be recalled by the lenders at any time.
  • arrowThe company's insurance coverage in connection with its business may not be adequate and may adversely affect the company's operations and profitability.
  • arrowThe Company has entered into certain related party transactions in the past and may continue to do so in the future.
  • arrowThe Company's operation and growth is dependent upon successful implementation of its business strategies.
  • arrowIn addition to normal remuneration, other benefits and reimbursement of expenses some of its Directors (including the company's Promoters) are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
  • arrowIf the company fails to maintain an effective system of internal controls, the company may not be able to successfully manage or accurately report its financial risk.
  • arrowThe company is subject to stringent labor laws or other industry standards and any strike, work stoppage, Lock-out or increased wage demand by our employees or any other kind of disputes with its employees could adversely affect its business, financial condition and results of operations.
  • arrowIndustry information included in this Red Herring Prospectus has been derived from the last updated industry reports from various websites for the year 2024 and 2025. The reliability on the forecasts of the reports could be incorrect and would significantly impact the company's operations.
  • arrowThe Company's future funding requirements, in the form of further issue of capital or other securities and/or loans that might be availed by us, may turn out to be prejudicial to the interest of the shareholders depending upon the terms and conditions on which they are raised.
  • arrowThe average cost of acquisition of Equity Shares by its Promoters is lower than the issue price.
  • arrowThe company's insurance coverage in connection with its business may not be adequate and may adversely affect the company's operations and profitability.
  • arrowAny variation in the utilization of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
  • arrowThere are certain restrictions on daily movements in the price of Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
  • arrowAfter this Issue, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.
  • arrowMarket price of its share will be decide by market forces and issue price of equity share may not be indicative of the market price the company's share price after the issue.
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How to check the allotment status of Sheel Biotech Ltd IPO?

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Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).

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The IPO opens on 30 Sept 2025 & closes on 03 Oct 2025.

Sheel Biotech Limited was incorporated as a Private Company as 'Sheel Biotech Private Limited' dated November 26, 1991, with the Registrar of Companies, Delhi & Haryana. Further, Company was converted into a Public Limited Company w.e.f. April 02, 1992. The Company was founded by Dr. Satya Narayan Chandak in 1991. Thereafter, through his vision he led the stone of Tissue Culture lab wherein for advancement of lab he deputed two of his scientists to Netherlands for training to expand the business ventured in domestic market too and then added greenhouse division to promote protected cultivation. The Company started the Import division in 2019 and importing tulip, glad, lilium, orchids and alstromeria. The Company's Manesar facility is now second largest with production capacity of 10 million plants northern region of India. In 2008, Dr. Chandak established Sheel Biotech's Organic Division. He motivated farmers to decrease the use of chemical fertilizers and raised concern about the associated health risks, and saw organic farming as a solution to these issues. Company has since thrived, establishing partnerships with global entities like M/s Cravo Equipments Limited, M/s Dummen Orange, and setting up operations across several Indian states, including Kerala, Andhra Pradesh, Arunachal Pradesh, and at IICHR in Bangalore. Further, with expertise in green house and Poly house, the African country gave Promoters the project in Eritrea nearby Ethiopia as well. Sheel Biotech an ISO 9001:2015, ISO 14001:2015 & ISO 45001:2018 certified company and is managed by industry experts and professionals with knowledge in the field of Biotechnology, Agriculture, Floriculture, Horticulture, Tissue Culture and Green Houses. Company is presently engaged in the business of growing, developing, processing, and supplying a wide range of plants for field crops, fruits, vegetables, and ornamental plants through tissue culture and organic farming. It manufacture and maintain greenhouses, offer services to farmers and provide training through Farmer Producer Organizations (FPOs). Additionally, it deliver green landscaping services to both government and private sectors. The Company issued 54,00,000 equity shares of Rs 10 each, raising Rs 34.02 crores through IPO in October 2025.

Sheel Biotech Ltd IPO will close on 03 Oct 2025.

  • Our ability to capitalize the opportunities and growth in the Tissue Culture industry.
  • Promotion of Tissue Culture industry by the Government of India.
  • Cordial relations with our clients.

S.No Promoters Name Pre Issue Shares Pre Issue Percentage Post Issue Shares Post Issue Percentage
1 Satya Narayan Chandak 1509550 10.1 1509550 7.42
2 Sanjay Chandak 2321375 15.52 2321375 11.41
3 Divya Chandak 2156000 14.42 2156000 10.59
4 Mini Chandak --- --- --- ---
5 Satya Narayan Chandak (HUF) 1465450 9.8 1465450 7.2
6 Sanjay Chandak (HUF) 1561000 10.44 1561000 7.67
7 Sumeet Chandak (HUF) 1679300 11.23 1679300 8.25
8 Simmi Bhutra 2100 0.01 2100 0.01
9 Sheela Chandak 1055250 7.06 1055250 5.18
10 Vitro Biotechnologies Limited 775250 5.18 775250 3.81
11 Neha Chandak 1037925 6.94 1037925 5.1
12 Jayshee Investment Private Lim 324450 2.17 324450 1.59
13 Blue Ocean Realestates Private 306600 2.05 306600 1.51
14 Amit Cement Private Limited 308000 2.06 308000 1.51

  • The company depends on government tenders for its revenue of operations. Any unavailability or any failures to secure these tenders in the future may adversely affect the company's business operations and financial conditions.
  • One of the company's business segment Tissue culture demands the highest level of precautions in quality, storage, and temperature management. Any negligence in these areas can significantly affect its business outcomes.
  • The company uses the proper techniques in the whole tissue culture process. Any Ineffective sterilization of tools and media can lead to contamination, which would adversely affect the entire culture.
  • The company's business is subject to seasonal fluctuations that could result in delays or disruptions to its operations during the critical periods of the company's projects and cause severe damage to its premises and equipments.
  • The Company is involved in certain legal proceedings/litigations. Any adverse decision in such proceedings may render us/them liable to penalties and may adversely affect ist business and result of operations.
  • The company's success depends largely upon the services of its Directors, Promoters and other Key Managerial Personnel and the company's ability to attract and retain them. Demand for Key Managerial Personnel in the industry is intense and its inability to attract and retain Key Managerial Personnel may affect the operations of the Company.
  • Any disruption, breakdown or shutdown of its research and development may have a material adverse effect on the company's tissue culture segment, financial condition, results of operations and cash flows.
  • The company had negative cash flows in the past and may continue to have negative cash flows in the future.
  • The Company does not own the premises through which the company conducts its business operations.
  • There have been instances of delay in filing of GST and ESIC returns of the Company. The company may be subject to regulatory actions and penalties for any such delays and its business, financial condition and reputation may be adversely affected.
  • The Company may not have complied with certain statutory provisions of the Companies Act, 2013. Such non- compliances / lapses may attract penalties and prosecution against the Company and its directors which could impact on the financial position of the Company to that extent.
  • The company depends on a limited number of customers for a significant portion of its revenues. The loss of a major customer or significant reduction in demand from any of the company's major customers may adversely affect its business, financial condition, results of operations and prospects.
  • The restated financial statement of the company has been provided by the peer reviewed chartered accountant who is not the statutory auditor of the Company.
  • The Company may not have complied with certain statutory provisions of the Companies Act, 2013. Such non- compliances / lapses may attract penalties and prosecution against the Company and its directors which could impact on the financial position of the Company to that extent.
  • As per the PCS Certificate dated September 17, 2025, issued by M/S Sonia Patel and Associates, the company has inadvertently not complied with certain statutory provisions of the Companies Act, 2013.
  • If the company does not deliver government projects on time, the likelihood of receiving future bids diminishes significantly. This delay may have a material adverse effect on its business, financial condition, results of operations, and prospects.
  • The company's Top 10 Suppliers contribute a significant portion of its raw material purchase during the period ended March 31, 2025, and previous financial years. Any dispute with one or more of them may adversely affect the company's business operation
  • The company requires high working capital for its smooth day to day operations of business and any discontinuance or the company's inability to procure adequate working capital timely and on favorable terms may have an adverse effect on its operations, profitability and growth prospects.
  • Majority of the company's state wise revenues from operations for the last 3 years is majorly derived from below mentioned states. Any adverse developments affecting its operations in this state could have an adverse impact on the company's revenue and results of operations.
  • The company's contingent liabilities as stated in its Restated Financial Statements could adversely affect the company's financial conditions.
  • Weather conditions and pest attacks could adversely affect the production of the company's plants, as well as the demand for its plants, which may adversely affect the company's business, financial condition, results of operations and prospects.
  • The company's proposed capital expenditure relating to production of blueberries are subject to the risk of unanticipated delays in implementation and cost overruns.
  • If the company does not deliver government projects on time, the likelihood of receiving future bids diminishes significantly. This delay may have a material adverse effect on its business, financial condition, results of operations, and prospects.
  • The company's inability to comply with environmental laws and other regulatory requirements in relation to water waste Management may adversely affect its business, financial condition and results of operations.
  • The Company has entered into certain related party transactions in the past and may continue to do so in the future.
  • The company has issued Equity Shares during the last one year at a price that may be below the Issue Price.
  • The Company has been incorporated in the year 1991 and the secretarial data of the company can be fetched from the ROC website after 2006 only. We have relied on the data provided by the management from internal records or from independent professionals.
  • The company's promoters have vast experience in the industry. The experience of the promoters have been mentioned as per the available experience letters, declarations and affidavits furnished by certain of its promoters for details of their profiles included in this Red Herring Prospectus.
  • The company's business operations are subject to various operating risks at its sites, accidental risk, the occurrence of which can affect the company's results of operations and consequently, financial condition of the Company.
  • The company may not be able to prevent unauthorized use of trademarks obtained/ applied for by third parties, which may lead to the dilution of its goodwill.
  • The Company has unsecured loans that may be recalled by the lenders at any time.
  • The company's insurance coverage in connection with its business may not be adequate and may adversely affect the company's operations and profitability.
  • The Company has entered into certain related party transactions in the past and may continue to do so in the future.
  • The Company's operation and growth is dependent upon successful implementation of its business strategies.
  • In addition to normal remuneration, other benefits and reimbursement of expenses some of its Directors (including the company's Promoters) are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
  • If the company fails to maintain an effective system of internal controls, the company may not be able to successfully manage or accurately report its financial risk.
  • The company is subject to stringent labor laws or other industry standards and any strike, work stoppage, Lock-out or increased wage demand by our employees or any other kind of disputes with its employees could adversely affect its business, financial condition and results of operations.
  • Industry information included in this Red Herring Prospectus has been derived from the last updated industry reports from various websites for the year 2024 and 2025. The reliability on the forecasts of the reports could be incorrect and would significantly impact the company's operations.
  • The Company's future funding requirements, in the form of further issue of capital or other securities and/or loans that might be availed by us, may turn out to be prejudicial to the interest of the shareholders depending upon the terms and conditions on which they are raised.
  • The average cost of acquisition of Equity Shares by its Promoters is lower than the issue price.
  • The company's insurance coverage in connection with its business may not be adequate and may adversely affect the company's operations and profitability.
  • Any variation in the utilization of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
  • There are certain restrictions on daily movements in the price of Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
  • After this Issue, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.
  • Market price of its share will be decide by market forces and issue price of equity share may not be indicative of the market price the company's share price after the issue.

The Issue type of Sheel Biotech Ltd is Book Building - SME.

The minimum application for shares of Sheel Biotech Ltd is 4000.

The total shares issue of Sheel Biotech Ltd is 5400000.

Initial public offer of 54,00,000 equity shares of Rs. 10/- each ("Equity Shares") of Sheel Biotech Limited ("S B L" or The "Company") for cash at a price of Rs. 63/- per equity share (The "Issue Price"), aggregating to Rs. 34.02 crores ("The Offer"). Out of the issue 2,72,000 equity shares aggregating to Rs. 1.71 crores will be reserved for subscription by market maker ("Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. issue of 51,28,000 equity shares of face value of Rs. 10.00/- each at an issue price of Rs. 63/- per equity share aggregating to Rs. 32.31 crores is hereinafter referred to as the "Net Issue". The issue and the net issue will constitute 26.53% and 25.20%, respectively of the post issue paid up equity share capital of the Company. Price Band: Rs. 59/- to Rs. 63/- for equity share of face value of Rs. 10 each. The floor price is 5.90 times times the face value and cap price is 6.30 times of the face value of the equity shares. Bids can made for a minimum of 4,000 equity shares and in multiples of 2,000 equity shares thereafter.