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Sheel Biotech IPO
Sheel Biotech Ltd
₹1,18,000 /2000 sharesMinimum Investment
Sheel Biotech IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 30 Sep ‘25 - 3 Oct ‘25 | ₹2,36,000 | 2,000 | ₹59 - ₹63 |
| Issue Size | IPO Doc |
|---|---|
| 34.02Cr | RHP PDF |
Subscription rate
As of 30 Sep'25, 03:01 PM
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investor | 0.00x |
| Retail Individual Investor | 0.04x |
| Total | 0.02x |
About Sheel Biotech
Founded in
1991
Parent organisation
Sheel Biotech Ltd
Strengths & Financials of Sheel Biotech
Strengths
Risks
The company claims to have over 30 years of experience in plant tissue culture and has supplied planting materials both within India and internationally. The company also claims to have worked with plant breeders from regions such as the US, Europe, and Asia.
The company claims to offer product diversity across agriculture, horticulture, and floriculture. Its portfolio includes fruit crops such as blueberries and strawberries, ornamental plants like gerbera and gladiolus, and horticulture products such as aeroponics greenhouses, hydroponics systems, and controlled atmosphere cold storage.
The company claims to have an R&D laboratory with a production capacity of 10 million planting materials annually, which is recognised by the DBT, Government of India. This lab is positioned as one of the largest facilities in northern India.
The company claims to operate advanced greenhouse facilities that provide controlled environments for plant hardening. These setups are designed to regulate temperature, humidity, and light, protecting plants from pests and adverse weather during their critical growth stages.
The company is ISO 9001:2015 certified for quality management systems, ISO 14001:2015 certified for environmental management systems, and ISO 45001:2018 certified for occupational health and safety management systems.
The company has witnessed a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 80.11 crore in FY23 to Rs 92.28 crore in FY24 and Rs 101.75 crore in FY25. PAT increased from Rs 5.08 crore in FY23 to Rs 10.47 crore in FY24 and Rs 10.64 crore in FY25.
The company derives a major portion of its revenue from government tenders. It accounted for Rs 57.62 crore (56.63 percent) of the company’s total revenue in FY25, Rs 66.62 crore (72.19 percent) in FY24, and Rs 54.85 crore (68.47 percent) in FY23. Any unavailability or failure to secure such tenders in the future could hurt the company’s business and finances.
The tissue culture segment requires strict control over quality, storage, and temperature management. Any negligence in maintaining a stable temperature of 24°C, proper lighting, or sterile conditions can significantly affect plant growth and, in turn, the company’s production and business operations.
The company derives a major portion of its revenue from its top 10 customers. They accounted for Rs 28.82 crore (28.32 percent) of the company’s total revenue in FY25, Rs 37.21 crore (40.33 percent) in FY24, and Rs 30.16 crore (37.64 percent) in FY23. Loss of these customers or a decline in business from them could adversely affect the company’s finances and operations.
The company’s top 10 suppliers accounted for Rs 20.75 crore (30.45 percent) of the company’s total cost of material consumed in FY25, Rs 25.80 crore (36.98 percent) in FY24, and Rs 19.03 crore (33.98 percent) in FY23. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The company requires high working capital to ensure smooth day-to-day operations. A disruption in the availability of adequate working capital on favourable terms may adversely affect the company’s operations, profitability, and growth prospects.
The company’s operations are concentrated in Delhi, Haryana, Bihar, and Uttar Pradesh, and it derives significant revenue from these states. They accounted for Rs 101.62 crore (99.87 percent) of the company’s total revenue in FY25, Rs 92.04 crore (99.74 percent) in FY24, and Rs 79.53 crore (99.26 percent) in FY23. Any political, social, or economic developments in these regions or any sudden regulatory restrictions could adversely affect the company’s business operations and finances.
The company reported negative cash flows from operating activities, amounting to Rs 0.92 crore in FY24, due to an increase in inventory levels and clearing payments of trade payables. It also reported a negative cash flow from investing activities of Rs 2.25 crore in FY25, Rs 0.25 crore in FY24, and Rs 2.17 crore in FY23, due to payment of security deposits/EMD for government tenders or purchase of fixed assets. The company also reported a negative cash flow from financing activities of Rs 7.10 crore in FY25 and Rs 7.22 crore in FY23, due to repayment of short- and long-term loans along with interest costs. If negative cash flows persist, it could hurt the company’s ability to meet its working capital needs or repay loans without raising additional external financing, thereby impacting its financial condition and operations.
Any adverse seasonal developments, such as heavy rainfall, floods, cyclones, or other extreme weather conditions, can delay or disrupt operations, damage premises and equipment, or result in loss of plants and seeds. Such events may require suspension or evacuation, negatively affecting business continuity.
The company, its directors, promoters, and group entities are involved in various legal proceedings. Any adverse judgment in any of these cases could be detrimental to the company’s business prospects.
As of FY25, the company reported total indebtedness of Rs 17.36 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Sheel Biotech Financials
*All values are in Rs. Cr
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Application Details of Sheel Biotech IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Individual investor | ₹59 - 63 | ₹2 - 5 Lakh |
For Sheel Biotech IPO, eligible investors can apply as Individual investor.