The Shining Tools IPO opens on 7 November 2025 and closes on 11 November 2025. This is a Fixed Price Issue where the company aims to raise ₹17.10 crore, entirely through a fresh issue.
The shares will be listed on the BSE SME platform, and the allotment will be finalised on 12 November 2025. Listing is scheduled for 14 November 2025. The IPO is priced at ₹114 per share. Retail investors and HNI/NII investors have equal quota at 50% each, while QIB allocation is nil.
Contents
Shining Tools IPO Details
| Detail | Information |
|---|---|
| IPO Open Date | 7 November 2025 |
| IPO Close Date | 11 November 2025 |
| Face Value | ₹10 per share |
| IPO Price | ₹114 per share |
| Issue Size | Approx. ₹17.10 crore |
| Fresh Issue | Approx. ₹17.10 crore |
| Offer for Sale (OFS) | Nil |
| Issue Type | Fixed Price Issue |
| Listing | BSE SME |
| DRHP | View PDF |
| RHP | View PDF |
Shining Tools IPO
Open: 7-11 Nov 2025
Issue Size: ₹17.10 Cr.
Objective: Buying new machines, working capital, and for other general work.
Exchange: BSE SME
Shining Tools IPO Review
Shining Tools is a niche carbide cutting tools manufacturer with steady growth in revenue and profits over the last three years. The IPO is priced at ₹114, and considering the company’s improving margins, strong ROE, and diversified customer base across engineering, automotive, aerospace, and medical sectors, the valuation appears reasonable.
However, since this is a BSE SME issue with a small float and higher volatility, it is more suitable for long-term investors who can handle SME market risks. Short-term listing gains are uncertain, but long-term investors may consider applying based on the company’s financial momentum and industry positioning.
Shining Tools IPO Market Lot
The minimum application size for retail investors is 2,400 shares, requiring an investment of ₹2,73,600.
| Category | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2,400 | ₹2,73,600 |
| Retail Maximum | 2 | 2,400 | ₹2,73,600 |
| S-HNI Minimum | 3 | 3,600 | ₹4,10,400 |
IPO Reservation
| Investor Category | Shares Offered | % Allocation |
|---|---|---|
| NII / HNI | 7,12,600 | 50% |
| Retail | 7,12,600 | 50% |
Shining Tools IPO Timeline
| Event | Date |
|---|---|
| IPO Open Date | 7 November 2025 |
| IPO Close Date | 11 November 2025 |
| Basis of Allotment | 12 November 2025 |
| Refunds | 13 November 2025 |
| Credit to Demat | 13 November 2025 |
| Listing Date | 14 November 2025 |
| Cut-off Time for Bidding | 11 November 2025 – 5 PM |
Promoters & Shareholding
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding (Pre-Issue) | 41,58,400 | 96.18% |
| Promoter Holding (Post-Issue) | 56,58,400 | 70.68% |
Promoters:
Mr. Vipulbhai Laljibhai Ghonia
Mr. Kamalbhai Laljibhai Ghonia
Objects of the Issue
| Purpose | Amount (₹ Crores) |
|---|---|
| Purchase & installation of plant and machinery for carbide precision tools | ₹9.07 |
| Working capital requirements | ₹3.85 |
| General corporate purposes | ₹2.48 |
About Shining Tools Limited
Shining Tools Limited, established in 2013, manufactures high-performance solid carbide cutting tools used across multiple industries such as automobiles, engineering, agriculture, aerospace, defence, casting, medical, and power sectors. The company operates under the brand name Tixna.
Its manufacturing unit is located in Rajkot, Gujarat, where it produces end mills, thread mills, drills, and customised tools as per client needs. The company also provides tool reconditioning services, which improves tool life and helps clients reduce costs.
- Also Read: Curis Lifesciences IPO
Shining Tools Financial Performance
| Period Ended | Revenue (Cr.) | Expense (Cr.) | PAT (Cr.) | Assets (Cr.) |
|---|---|---|---|---|
| 2023 | 10.46 | 10.56 | 0.08 | 16.83 |
| 2024 | 10.60 | 8.49 | 1.58 | 15.05 |
| 2025 | 14.77 | 10.69 | 2.93 | 19.64 |
| July 2025 | 5.42 | 3.46 | 1.47 | 22.51 |
The company’s revenue and profit have grown strongly over the last three years, supported by higher demand and operational efficiency.
Shining Tools IPO Valuation (FY 2025)
| KPI | Value |
|---|---|
| ROE | 49.59% |
| ROCE | 29.61% |
| EBITDA Margin | 42.28% |
| PAT Margin | 19.89% |
| Debt-to-Equity | 0.92 |
| EPS (Basic) | ₹7.17 |
| P/E Ratio | 15.90 |
| RoNW | 36.60% |
| NAV | ₹19.60 |
Peer Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Birla Precision Technologies Ltd | 0.82 | 56.37 | – | 24.08 | ₹209.51 Cr |
IPO Lead Manager
Sobhagya Capital Options Pvt. Ltd.
Company Address
Shining Tools Ltd.
Survey No. 63/2, Plot No. 2
Rajkot – Gondal Highway
Paliya, Gondal, Gujarat – 360311
Phone: +91 9687693344
Email: cs@tixnatools.com
Website: tixnatools.com
IPO Registrar
Maashitla Securities Pvt. Ltd.
Phone: +91-11-45121795-96
Email: shining.ipo@accuratesecurities.com
Website: maashitla.com
Shining Tools IPO FAQs
What is the Shining Tools IPO?
It is an SME IPO worth ₹17.10 crore at a fixed price of ₹114 per share.
When does the IPO open?
The IPO opens on 7 November 2025 and closes on 11 November 2025.
What is the investor quota?
Retail: 50%, NII/HNI: 50%, QIB: 0%.
What is the lot size?
Minimum lot size is 2,400 shares (₹2,73,600).
When is the allotment date?
12 November 2025.
When is the listing date?
14 November 2025, on BSE SME.
Expert Comment
Shining Tools shows strong year-on-year growth in revenue and profits, supported by high-margin operations and a solid balance sheet.
The valuation at a P/E of around 16 appears reasonable for an SME manufacturer with consistent demand and diversified industry presence. However, it remains suitable mainly for long-term investors who are comfortable with SME market risks.
