Shining Tools IPO GMP, Price, Dates, Allotment, Review

Updated on 14.11.2025 @ 11:23 AM

Shining Tools Limited is set to launch its Initial Public Offering (IPO) on the BSE SME platform, opening on November 7, 2025. The company is seeking to raise ₹17.10 crores through a 100% fresh issue of shares. The issue is offered at a fixed price of ₹114 per share, with a minimum lot size of 1,200 shares. Shining Tools has demonstrated a remarkable turnaround to profitability, but this must be weighed against its high customer concentration and long working capital cycle. The Grey Market Premium (GMP) is yet to commence trading.

In this article, you will find Shining Tools IPO GMP today, subscription status, allotment date, price band, and a detailed, unbiased review to help you make an informed decision.

Briefs of Shining Tools IPO Details

• Price Band: ₹114 per share (Fixed Price)
• IPO Open / Close Dates: November 7, 2025 – November 11, 2025
• Lot Size: 1,200 Shares
• Issue Size: 15,00,000 shares (aggregating up to ₹17.10 Crores)
• Fresh Issue / OFS: 100% Fresh Issue
• Registrar: Maashitla Securities Pvt.Ltd.
• Listing Exchange: BSE SME

Listing Updates:

What is the Shining Tools IPO GMP Today?

• Note: The shares of Shining Tools are not currently trading in the grey market. The Grey Market Premium (GMP) is an unofficial indicator that reflects market sentiment and typically becomes active closer to the IPO opening date.

What are the key Shining Tools IPO Dates & Allotment Schedule?

• IPO Open & Close Date: November 7, 2025 – November 11, 2025
• Basis of Allotment Date: November 12, 2025
• Refund Initiation Date: November 13, 2025
• Credit of Shares: November 13, 2025
• Listing Date: November 14, 2025

Check Shining Tools IPO GMP, Price, Dates, Allotment, Review

What Are the Objectives of Shining Tools IPO?

The company intends to utilise the net proceeds from the public offering for its growth and expansion:

• Capital Expenditure (₹9.07 Crores): For the purchase and installation of new plant and machinery to expand its manufacturing capacity.
• Working Capital Requirements (₹5.42 Crores): To manage its operational cycle and fund business growth.
• General Corporate Purposes: The balance amount will be used for other strategic and day-to-day business requirements.

What is the Financial Performance of Shining Tools?

The financial story of Shining Tools is one of a dramatic turnaround. After posting losses in FY22 and FY23, the company has staged an impressive comeback, reporting a solid profit of ₹1.58 crores in FY24.

Source: BSESME

This strong performance has continued and accelerated in the current fiscal year. The company's margins have also expanded significantly, with the PAT margin reaching nearly 15% in FY24.

Industry Outlook

• Shining Tools operates in a niche segment of the engineering industry, manufacturing high-performance solid carbide cutting tools.
• These tools are critical components in various manufacturing processes, from automotive to aerospace.
• A key strength of the company is its focus on customized tools, which account for a majority of its revenue and yield higher profit margins.
• The company's use of advanced CNC and quality inspection machines allows it to cater to the high-precision demands of its industrial clients.

What are The Strengths and Risks of Shining Tools IPO?

Strengths:

• Impressive Turnaround to Profitability: The company has successfully pivoted from losses to strong profitability with expanding margins.
• Niche in High-Margin Customized Tools: A significant portion of its revenue comes from customized products, which provides a competitive edge and better pricing power.
• Experienced Promoters: The leadership team has over a decade of experience in the cutting tool industry.
• Advanced Manufacturing Infrastructure: Use of high-precision machinery ensures quality and meets industry standards.

Risks:

• High Customer Concentration: This is a major red flag. The top 10 customers contribute over 55% of the company's revenue, making it highly dependent on a few large clients.
• Long Working Capital Cycle: With trade receivable days at a very high 142 days, the company's cash is tied up in outstanding payments for a long time, which can strain liquidity.
• Geographical Concentration: A vast majority of its sales (over 97%) are concentrated in the Western Zone of India, particularly Gujarat, making it vulnerable to regional economic slowdowns.
• High Dependency on a Single Vendor for Expansion: A large portion of the IPO-funded capex is for machinery from a single new vendor, which poses execution risk.

What are The Expert Recommendations – Should You Apply?

Subscribe with Caution (For High-Risk Investors)

The Shining Tools IPO is a classic high-risk, high-reward proposition. The impressive financial turnaround and focus on a high-margin niche are very attractive, but the underlying risks are significant.

• For Risk-Averse Investors: AVOID. The high customer concentration and long working capital cycle are fundamental weaknesses that make this IPO unsuitable for conservative investors.
• For Aggressive Investors: The valuation is a key attraction. Based on FY24 earnings, the P/E is around 29x. However, if we annualize the strong performance of the current fiscal year, the forward P/E drops to a very tempting level of around 15x. This is a bet on the sustainability of the turnaround.
• Our View: The IPO is a double-edged sword. The growth story is fantastic, and the forward valuation is attractive. However, the concentration risk and working capital issues are equally potent. We recommend a "Subscribe with Caution" rating, strictly for high-risk investors who understand and are comfortable with the company's heavy reliance on its top clients and its long cash conversion cycle.

Key Takeaways

• IPO Price: ₹114 per share (Fixed Price)
• Lot Size: 1,200 Shares (Note: The minimum application for retail investors is for 2 lots or 2,400 shares, costing ₹2,73,600, which falls into the sHNI category).
• GMP Today: ₹0 (Not trading)
• Allotment & Listing Dates: Tentative listing on November 14, 2025.
• Recommendations of experts: A high-risk issue. Subscribe with caution, suitable only for aggressive investors due to the high concentration risks, despite the attractive financial turnaround and forward valuation.

FAQs on Shining Tools IPO

What is Shining Tools IPO price?

The issue price for the Shining Tools IPO is fixed at ₹114 per share.

What is Shining Tools IPO allotment date?

The allotment of shares is tentatively expected to be finalized on Wednesday, November 12, 2025.

How to check Shining Tools IPO allotment status?

You can check the allotment status on the website of the IPO registrar once the basis of allotment is finalized.

What is Shining Tools IPO listing date?

The company's shares are tentatively scheduled to be listed on the BSE SME platform on Friday, November 14, 2025.

Should I apply for Shining Tools IPO?

This is a high-risk proposition. While the company's financial turnaround is impressive and its forward valuation is attractive, its heavy dependence on a few clients and long working capital cycle are major risks. A subscription is recommended only for investors with a high-risk appetite.

Disclaimer

All information, including IPO details, GMP, and analysis, is for educational purposes only. It should not be considered investment advice. Please verify data independently and consult your financial advisor before making any investment decisions.