Shining Tools was incorporated on May 01, 2013. The company designs and manufactures solid carbide cutting tools used in metalworking across industries. It produces standard and customised tools such as end mills, drills, and thread mills, and also offers regrinding and re-coating services to extend tool life
| Bidding Dates |
|---|
| 07 Nov 2025 - 11 Nov 2025 |
| Subscription |
|---|
| 1.14x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,73,600 | 2 | 2 | 1200 | 1.5 M | ₹114 | 70.68 % | ₹171.0 M | RHP DOC |
Shining Tools IPO SUBSCRIPTION STATUS
11 Nov '25Shining Tools IPO overall subscription rate was 1.14 times the total available shares
Shining Tools IPO retail subscription rate was 1.78 times in the retail segment
Shining Tools IPO non-institutional investor subscription rate was 0.51 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
11 Nov 2025 (Day 3) | 1.78x | 0.51x | - |
10 Nov 2025 (Day 2) | 1.16x | 0.39x | - |
07 Nov 2025 (Day 1) | 0.6x | 0.33x | - |
Shining Tools FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| 4MFY26 | 5.4 | 1.5 | -0.4 | -0.4 | 46.9% |
| FY25 | 14.7 | 2.9 | 1.2 | -1.8 | 42.3% |
| FY24 | 10.5 | 1.6 | 4.4 | 3.0 | 39.4% |
| FY23 | 10.3 | -0.1 | 2.3 | 2.2 | 18.3% |
Shining Tools IPO SUBSCRIPTION STATUS DETAILS
Shining Tools had 1.5 M shares on offer
Shining Tools IPO offer price was ₹114
Shining Tools IPO minimum Investment was ₹273600
Shining Tools IPO issue size was ₹ 171.0 M
Shining Tools had a minimum lot size of 1200 Shares per application
Shining Tools NUMBER OF SHARES ON OFFER
Shining Tools IPO IMPORTANT DATES
| Issue Open Date | 07 Nov 2025 |
| Issue close Date | 11 Nov 2025 |
| Allotment Date | 12 Nov 2025 |
| Refund Date | 13 Nov 2025 |
| Demat Account Credit Date | 13 Nov 2025 |
| Listing Date | 14 Nov 2025 |
| Listing on Exchange(s) | BSE |
| Shining Tools Allotment Status | Exchange/ Registrar |
Shining Tools IPO subscription opened on 07 Nov 2025, and closed on 11 Nov 2025
IPO allotment for Shining Tools was finalized on Wednesday, 12 Nov 2025
IPO listing for Shining Tools was on BSE on Friday, 14 Nov 2025
Shining Tools IPO LISTING GAINS
| Issue Price (adjusted) | 114.0 |
| Listing Open Price | 104.0 |
| Listing Close Price | 98.8 |
| Listing Gain% | -8.8% |
| Current Gain% | -23.7% |
Shining Tools Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shining Tools Ltd. | 87 | 49.2 | 12.7 | 0.4 | 2.6 | 15 | 10.8 | 18.7 | 26.6 | 3.9 | 32.8 | 6.9 | 32.8 |
| Cummins India Ltd. | 5448 | 151018.6 | 63.8 | 6 | 11.9 | 27.9 | 20.9 | 12660.5 | 16.8 | 2361.8 | 18.1 | 85.4 | 10.6 |
| GE Vernova T&D India Ltd. | 4330 | 110868.1 | 85 | 1.2 | 16.5 | 45.8 | 15.9 | 6297.2 | 44.6 | 1233.2 | 102.7 | 51 | 70.6 |
| 3M India Ltd. | 35900 | 40441.7 | 77.4 | 6.3 | 7.9 | 29.5 | 16.6 | 5138.5 | 13.8 | 522.3 | 9.7 | 463.7 | 12.2 |
| Kirloskar Oil Engines Ltd. | 2131.2 | 31013.2 | 56.8 | 3.6 | 3.9 | 15.9 | 5.3 | 7771.2 | 21.5 | 574.3 | 17.4 | 37.5 | 15.8 |
| LMW Ltd. | 17635 | 18839.5 | 107.8 | 1.5 | 5.6 | 4.6 | 3.1 | 3353.4 | 6.9 | 130.7 | 27.4 | 163.6 | 69.6 |
Shining Tools INFORMATION ON IPO ISSUE
About Shining Tools
Shining Tools was incorporated on May 01, 2013. The company designs and manufactures solid carbide cutting tools used in metalworking across industries. It produces standard and customised tools such as end mills, drills, and thread mills, and also offers regrinding and re-coating services to extend tool life
Object of the Issue
- Purchase and installation of plant and machinery for manufacturing of carbide precision Tools at the existing premises
- Funding of working capital requirements
- General corporate purposes
Shining Tools - PROMOTERS
| Name |
|---|
| Vipulbhai Laljibhai Ghonia |
| Kamalbhai Laljibhai Ghonia |
| Kiranben Vipulbhai Ghonia |
| Pritiben Kamalbhai Ghonia |
| Jayaben Laljibhai Ghonia |
Shining Tools - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Vipulbhai Laljibhai Ghonia | Managing Director |
| Kamalbhai Laljibhai Ghonia | Whole Time Director |
| Abhishek Dobaria Arvindbhai | CFO & Executive Director |
| Kiranben Vipulbhai Ghonia | Non-Executive Director |
| Dhruvi Shyam Kapadia | Independent Director |
| Grishma A Shewale | Independent Director |
| Palak Pankaj Shah | Independent Director |
Shining Tools Lead Manager to the issue
Sobhagya Capital Options Private Limited
cs@sobhagyacap.com
Shining Tools Registrar to the issue
Maashitla Securities Private Limited
ipo@maashitla.com
Shining Tools Strengths
Machine-led efficiency
The company uses advanced machine-based manufacturing tools to improve precision, reduce manual errors, and increase output. This technology-driven approach allows faster production, consistent quality, and cost-efficient operations, enabling the company to meet rising demand while maintaining competitive pricing
Customised tooling solutions
The company offers customised tools based on specific customer requirements, including unique dimensions, materials, and functionalities. This capability helps serve a wide range of industries with greater accuracy and enables customers to receive tools suited to their exact operational needs
Diverse product range
The company provides a broad portfolio of tools, ranging from precision cutting instruments to heavy-duty machinery accessories. Continuous expansion of its product line, supported by ongoing innovation, positions the company as a one-stop solution for varied industrial applications
Shining Tools Risks
Single-location risk
The company’s manufacturing facility and registered office are both located in Gujarat, creating dependence on a single region. Any disruption caused by natural disasters, political instability, labour issues, regulatory changes, or pandemic-like events may interrupt operations and negatively impact financial performance
Regional sales dependence
A large share of the company’s domestic sales is generated from customers in the western region, particularly Gujarat. This concentration exposes the business to competitive pressure and economic or demographic shifts in the area
Raw material volatility
The company relies heavily on carbide as a key raw material. Pricing and supply availability are sensitive to global demand, trade policies, logistics issues, and currency fluctuations. The company does not have long-term supply contracts, which increases exposure to price swings and dependence on a limited supplier base
IPO FAQs
The promoters of the company are Vipulbhai Laljibhai Ghonia, Kamalbhai Laljibhai Ghonia, Kiranben Vipulbhai Ghonia, Pritiben Kamalbhai Ghonia and Jayaben Laljibhai Ghonia.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 114.0 - 114.0.
The IPO application opens on Nov 07, 2025 and closes on Nov 11, 2025.
The minimum lot size for the IPO is 2400. The maximum lot size for the IPO is 2400.
For all category investors, the minimum application amount for this IPO is Rs. 273,600.0, the maximum value for this IPO is Rs 273,600.0.
This IPO will be allotted on Nov 12, 2025.
The refund will be credited to your account on Nov 13, 2025.
The allotted shares will be credited to your demat on Nov 13, 2025.
Shining Tools Ltd.’s shares listed on the stock exchanges on Nov 14, 2025.