Mumbai (Maharashtra) [India], October 15: Shellz India Limited, a confectionery manufacturer under the brand names “Hugs” and “Tosca”, has successfully finalized the allotment of 9,04,800 Equity Shares to anchor investors at ₹179 per share (including a premium of ₹169 per share), raising ₹16.20 crore ahead of its initial public offering.
The board finalized the allocation on October 14, 2026, in consultation with the Book Running Lead Manager. Sanshi Fund I emerged as the largest anchor participant, securing 43.32% of the anchor quota.
Anchor Allocation Details:
- Sanshi Fund I: Allocated 3,92,000 equity shares (43.32% of the anchor portion).
- India Max Investment Fund Limited: Allocated 2,80,000 equity shares (30.95% of the anchor portion).
- Vikasa India EIF I Fund – INCUBE Global Opportunities: Allocated 1,68,000 equity shares (18.57% of the anchor portion).
- Resonance Opportunities Fund: Allocated 64,800 equity shares (7.16% of the anchor portion).
The company’s ₹59.97 crore initial public offer consists entirely of a fresh issue of 33,50,400 equity shares and opens for public subscription today, October 15, 2026, through October 19, 2026. The price band for the issue is fixed at ₹170 to ₹179 per share. The proceeds from the IPO will primarily be utilized for working capital requirements, debt reduction, and general corporate purposes.
The shares of Shellz India Limited are proposed to be listed on the BSE SME platform.
About Shellz India Limited:
Shellz manufactures confectionery products in India through a portfolio of over 300 SKUs across baked treats, choco delights, jellies, and pan-and-sugar confectionery. It also manufactures food and bakery ingredients, undertakes private label manufacturing for third parties and exports to markets including the Middle East, South Asia and Europe. The flagship “Hugs” brand is positioned at mass-market price points, with a majority of products priced at ₹10 or below. “Tosca” is positioned in the mass-premium segment and is being developed with a focus on e-commerce and quick commerce channels, including products such as Tosca Oat Choco. All products are manufactured in-house at facilities in Delhi and Sonipat, Haryana.
Disclaimer: Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
