Shreni Shares Sets Sights on IPO Success

Stock broking firm Shreni Shares has filed for an initial public offering (IPO) with market regulator Sebi, aiming to generate funds. The offering consists of up to 69 lakh fresh equity shares and an offer for sale (OFS) of up to 82 lakh shares by current shareholders, as per the Draft Red Herring Prospectus submitted on Wednesday.

The company's promoters include Bhavesh Himmatlal Shah, Hitesh Natvarlal Punjani, and Nidhi Bhavesh Shah. Shreni Shares plans to use the proceeds to enhance its working capital, repay debts, and for general corporate purposes. The firm offers broking services and margin trading facilities to over 2,620 clients and has eight branches in seven Indian cities.

Acknowledged among the top 10 market makers in India's SME exchange ecosystem, Shreni Shares handled 37 mandates between FY2023 and FY2025, according to a D&B report. Equity shares are set to be listed on both BSE and NSE, with Aryaman Financial Services serving as the book-running lead manager.