Share Samadhan
Book Building issueSME₹24.06 Cr issue
-1.28%
Listing gain over issue price
Issue size
₹24.06 Cr
1 lot at cut-off
₹1,18,400
Lot size
1,600shares
Open
09 Sep 2024
Close
11 Sep 2024
Allotment
12 Sep 2024
Listing
16 Sep 2024
Listing performance
Issue price
₹74
Listed at
₹73.05
Listing-day close
₹74.87
Latest price
₹46
Close on 14 Oct 2026
Listing gain
-1.28%
Return since issue
-37.84%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 09 Sep 2024 – 11 Sep 2024
- Listing date
- 16 Sep 2024
- Face value
- ₹10 per share
- Issue price
- ₹74 per share
- Lot size
- 1,600 shares
- Issue type
- Book Building issue
- Total issue size
- ₹24.06 Cr
- Market cap at offer price
- ₹90.80 Cr
- Promoter holding
- 85.06% → 62.52% pre-issue → post-issue
- ISIN
- INE0LY301010
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Narnolia Financial Services Ltd.
- Registered office
- B-35, Lower Ground Floor, South Extension Part-II, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 9,23,200 | — | — |
| Market maker | 1,63,200 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹74
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,18,400 |
| S-HNI (min) | 2 | 3,200 | ₹2,36,800 |
| S-HNI (max) | 8 | 12,800 | ₹9,47,200 |
| B-HNI (min) | 9 | 14,400 | ₹10,65,600 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
9,23,200
Anchor portion
₹6.83 Cr
at ₹74 per share
Valuation and performance
Valuation at offer price
₹74 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 4.34 | 3.19 |
| P/E (×) | 17.05 | 23.20 |
| Price to book (×) | 5.91 | — |
| Market cap | — | ₹90.80 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 34.64%
- ROCE
- 47.99%
- PAT margin
- 39.77%
- NAV per share
- ₹12.52
- Price to book
- 5.91
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Share Samadhan
Share Samadhan Limited, incorporated in 2011 and converted to public status in 2022, operates as a one-stop solution for protecting and retrieving investments. The company offers Investment Retrieval Services to help clients unlock value and resolve investor grievances related to various financial assets including equity shares, preference shares, mutual funds, debentures, bonds, insurance, provident funds, deposits, and other asset classes. It also facilitates retrieval of unclaimed and unpaid dividends and assists with old or damaged financial instruments. Through subsidiary Wealth Samadhan Private Limited, it provides wealth protection via the Wealth Samadhan Card, a digital investment repository solution. Through subsidiary Nyaya Mitra Limited, it offers litigation funding solutions for disputed property matters, commercial disputes, and shareholder disputes. Revenue streams include Investment Retrieval Services (29.07% of FY2024 revenue), Consultancy Services (64.76%), Litigation Funding Solutions (5.59%), and Wealth Protection Services (0.01%).
Company Analysis
from RHPShare Samadhan Limited provides investment retrieval services, wealth protection solutions, and litigation funding across India's unclaimed and disputed financial assets markets.
Share Samadhan Limited, incorporated in 2011 and converted to public status in 2022, operates as a one-stop solution for protecting and retrieving investments. The company offers Investment Retrieval Services to help clients unlock value and resolve investor grievances related to various financial assets including equity shares, preference shares, mutual funds, debentures, bonds, insurance, provident funds, deposits, and other asset classes. It also facilitates retrieval of unclaimed and unpaid dividends and assists with old or damaged financial instruments. Through subsidiary Wealth Samadhan Private Limited, it provides wealth protection via the Wealth Samadhan Card, a digital investment repository solution. Through subsidiary Nyaya Mitra Limited, it offers litigation funding solutions for disputed property matters, commercial disputes, and shareholder disputes. Revenue streams include Investment Retrieval Services (29.07% of FY2024 revenue), Consultancy Services (64.76%), Litigation Funding Solutions (5.59%), and Wealth Protection Services (0.01%).
investment retrieval serviceswealth protectionlitigation fundingfinancial services
Objects of the Issue
- Investment in Technology ₹41,000.00 thousand p.27
- Unidentified Acquisition for Company (In India or Abroad) ₹35,648.00 thousand p.27
- Working Capital Requirement ₹79,000.00 thousand p.27
- General Corporate Purposes p.27
- Issue Expenses p.27
- Investment in Technology ₹41,000.00 thousand p.106
- Unidentified Acquisition for Company (In India or Abroad) ₹35,648.00 thousand p.106
- Working Capital Requirement ₹79,000.00 thousand p.106
- General Corporate Purposes p.106
- Issue Expenses p.106
- No specific Objects of the Offer section found in this part of the document
Issue Structure
- Total Issue
- 32,51,200 Equity Shares of face value of Rs.10/- each fully paid-up for cash at price of Rs. [●]/- per Equity Share aggregating to Rs. [●] Lakhs
- Fresh Issue
- 32,51,200 Equity Shares
- Offer for Sale
- Nil
- Price Band
- Floor Price: Rs. 70/- per Equity Share; Cap Price: Rs. 74/- per Equity Share
- Lot Size
- 1,600 Equity Shares and in multiples of 1,600 Equity Shares thereafter
- Face Value
- Rs.10/- each
Business Model
The company operates primarily on a success-based fee structure where income is linked to performance of investments and litigation outcomes. It charges a nominal non-refundable mandate signing fee upon agreement with clients, which is adjustable in final fees. For low-value investments, it charges fixed fees on a client-by-client basis. Mandates are finalized only after feasibility studies to minimize non-recovery risk.
Business Segments
Offers consultation on matters concerning unlocking value and resolving investor grievances related to various financial assets such as equity shares, preference shares, mutual funds, debentures, bonds, insurance, provident funds, deposits, bank accounts, debts and other asset classes. Assists in retrieval of unclaimed and unpaid dividends, interests, and addresses issues like old, lost, forgotten or damaged financial instruments.
Provides Wealth Samadhan Card, a comprehensive digital investment repository solution designed to safeguard and streamline the protection of investment information. Offers clients a secure and straightforward way to record and store all their investment details in one place in an encrypted way.
Provides consultation services related to investment recovery and resolution of investor grievances.
Offers a spectrum of litigation funding solutions tailored to address the multifaceted nature of legal disputes, including services supporting cases relating to disputed property matters, high stake commercial disputes, management and shareholder disputes.
Helps users locate any investments they may have forgotten or are unaware of. These could include things like inoperative bank accounts, unclaimed dividends, or forgotten stocks or provident fund, mutual fund, bond and bank deposits.
Offers protective features through special Protect Money Card designed to secure user's investments and prevent future unclaimed investments. Subscribers can utilize services to manage their investments, update financial information, and prevent investments from becoming unclaimed.
Provides consultation on matters concerning unlocking value and resolving investor grievances related to various financial assets such as equity shares, preference shares, mutual funds, debentures, bonds, insurance, provident funds, deposits, bank accounts, debts and other asset classes. Services include shares/dividends claim from IEPF, physical shares to demat conversion, duplicate issuance of shares, transfer & transmission of shares, provident funds recovery, insurance recovery, mutual funds redemption, and recovery from inoperative bank accounts.
Offers the Wealth Samadhan Card, a comprehensive digital investment repository solution designed to safeguard and streamline the protection of investment information. This service offers clients a secure and straightforward way to record and store all their investment details in one place in an encrypted way. Provided through subsidiary Wealth Samadhan Private Limited with a subscription model offering various plans (Basic, Premium, Gold) with features including standard registration, unlimited updates, physical and digital cards, and discounts on retrieval advisory services.
Provides a spectrum of litigation funding solutions tailored to address the multifaceted nature of legal disputes through subsidiary Nyaya Mitra Limited. Offers services supporting cases relating to disputed property matters, high stake commercial disputes, management & shareholder's disputes, family disputes, debtor recovery, alternative dispute resolution, overseas recovery, and arbitration cases. Operates on a success-dependent basis, aligning the firm's interests directly with client outcomes.
Research work on valuations, corporate compliance, due diligence and viability of companies for investor awareness and services. Working towards serving the purpose of investor grievances, investor awareness and investor education which includes publishing of materials related to investor awareness.
Provides consultation on matters concerning unlocking value and resolving investor grievances related to equity shares, preference shares, mutual funds, debentures, bonds, insurance, provident funds, deposits, bank accounts, debts and other asset classes. Assists in retrieval of unclaimed and unpaid dividends, interests, and addresses issues with lost, forgotten or damaged financial instruments.
Offers Wealth Samadhan Card, a comprehensive digital investment repository solution designed to safeguard and streamline the protection of investment information. Provides clients a secure way to record and store all investment details in one encrypted place.
Provides a spectrum of litigation funding solutions tailored to address multifaceted nature of legal disputes including disputed property matters, high stake commercial disputes, management & shareholder disputes, family disputes, debtor recovery, alternative dispute resolution, overseas recovery, and arbitration cases.
Provides consultancy services related to investment recovery and resolution of investor grievances. Assists in matters related to various financial assets and recovery services.
Provides consultancy services for retrieving and recovering investments in public listed companies held by clients, including shares deposited in IEPF accounts and equity securities that have remained unclaimed
Income and sales derive from subscription earnings, YouTube-based income, advertisement income, intellectual property revenue, and coupon-related services
SWOT Analysis
Strengths
- • One-stop solution for investment recovery across multiple asset classes(p.26)
- • Large addressable market in investment retrieval services(p.26)
- • Strong revenue growth with 256% increase year-over-year(p.29)
- • Significant profitability improvement with PAT growth from ₹4,792 thousand to ₹39,101 thousand(p.29)
- • Diversified revenue streams across investment retrieval, wealth protection, litigation funding and other services(p.37)
- • Strong revenue growth trajectory(p.123)
- • High profitability margins(p.123)
- • Strong return on equity(p.121)
- • Healthy liquidity position(p.126)
- • Rapid earnings growth(p.123)
- • First-mover advantage in unclaimed investment recovery with a decade of leadership(p.176)
- • Proven track record with consistent profit growth over multiple years(p.176)
- • Extensive network of over 1,500 business associates amplifying market reach(p.176)
- • Customer-centric approach driving client satisfaction and long-term relationships(p.176)
- • Diversified business model across investment retrieval, wealth protection, and litigation funding(p.167)
- • Established operations with 13-year history since incorporation(p.176)
- • Experienced promoter with 22 years in investment and money retrieval advisory(p.218)
- • Strong promoter shareholding providing stability and control(p.219)
- • Diversified service offerings across recovery, wealth protection and litigation funding(p.291)
- • Clean regulatory track record with no violations or defaults(p.219)
- • Strong revenue growth trajectory from core investment retrieval services(p.305)
- • Substantial year-on-year profit growth demonstrating operational efficiency(p.305)
- • Diversified income streams beyond core business(p.307)
- • Established market presence with competitive advantages developed over time(p.308)
- • Clean legal and regulatory standing with no material litigations against the company(p.312)
Weaknesses
- • Heavy dependence on success-based fee model with recovery risk(p.34)
- • Key dependence on promoters and key managerial personnel for business execution(p.33)
- • Critical dependence on business associates and external professionals(p.33)
- • Significant concentration of consultancy services revenue at 64.76% of total revenue(p.37)
- • Outstanding litigation against promoter that could materially adversely affect operations(p.33)
- • Subsidiary Wealth Samadhan Private Limited has negative net worth of ₹5,635.99 thousand(p.43)
- • Past history of negative cash flows from operating activities(p.36)
- • No trademark registration; pending application subject to objection(p.35)
- • No independent IT audit conducted; data security risks(p.38)
- • Past GST and statutory compliance lapses with multiple delayed filings(p.39)
- • Promoters control 62.51% post-issue, giving them significant controlling interest(p.45)
- • Significant increase in working capital requirements(p.111)
- • Reliance on unidentified acquisition strategy(p.110)
- • Dependence on external technology development(p.108)
- • Concentration risk in new ventures(p.115)
- • High dependence on two individual promoters holding 77.36% of pre-issue shareholding(p.205)
- • Limited scale with only 48 employees on payroll across all departments(p.178)
- • Absence of any formal service contracts with Key Managerial Personnel(p.215)
- • No plant or machinery assets typical of established service infrastructure(p.179)
- • Engagement model relying on project-based consultants rather than permanent staff(p.178)
- • Promoter group entities engaged in similar business without non-compete agreements(p.223)
- • One subsidiary with negative net worth(p.227)
- • Limited geographic diversification with concentration in Delhi(p.224)
- • High dependence on investment retrieval services as primary revenue source(p.305)
- • Significant increase in employee benefit expenses outpacing revenue growth controls(p.304)
- • Promotional litigation exposure in personal capacity of promoter(p.314)
- • Promoter involved in land ownership dispute litigation(p.316)
- • Promoter facing tax authority assessments for capital gains(p.314)
Opportunities
- • Rapidly growing third-party litigation funding market with 13.14% CAGR globally(p.26)
- • Expected increase in civil litigation in India as economy grows(p.26)
- • Expansion into unidentified acquisitions in India and abroad(p.27)
- • Technology investment to enhance digital capabilities and platform reach(p.27)
- • Working capital allocation to support business growth and expansion(p.27)
- • Growth in investment retrieval services from increasing complexity of financial assets(p.26)
- • India's strong economic growth trajectory(p.144)
- • Growing domestic financial services market(p.110)
- • Digital transformation and technology adoption(p.107)
- • Expansion of geographic presence(p.110)
- • Rising consumer wealth and investment awareness(p.144)
- • Massive unclaimed investment market worth ₹5,79,788 crores across multiple asset classes(p.149)
- • Expansion into international markets and metro cities(p.177)
- • Growing litigation funding market expected to exceed $57.2 billion by 2035(p.155)
- • Expanding B2C channels through digital marketing and social media(p.177)
- • Growing complexity in financial asset management increasing demand for specialized services(p.151)
- • Integration of cutting-edge technologies to enhance customer experience(p.177)
- • Growing unclaimed investments and investor grievances requiring resolution(p.291)
- • Digital wealth protection solutions through Wealth Samadhan Card(p.292)
- • Litigation funding market expansion for dispute resolution(p.292)
- • Revenue growth from consultancy services(p.303)
- • Expansion into digital content generation with YouTube and advertisement revenue channels(p.307)
- • Growth in intellectual property monetization(p.307)
- • Potential to leverage business model across the Media and Entertainment Industry(p.308)
- • Migration opportunity to main board of BSE post SME listing(p.344)
Threats
- • Absence of specific legislation regulating litigation funding business in India(p.35)
- • Uncertain legal interpretations and potential regulatory developments in emerging sector(p.35)
- • Intense competition from other peer companies in investment retrieval and litigation funding sectors(p.47)
- • Dependence on internet connectivity and electricity infrastructure for operations(p.45)
- • Foreign exchange fluctuation risks from international client transactions(p.50)
- • Interest rate fluctuation risk on existing and future borrowings(p.50)
- • Potential adverse impact from COVID-19 or other severe communicable diseases(p.59)
- • Terrorist attacks and regional conflicts could adversely affect business and financial markets(p.59)
- • Natural disasters, epidemics and acts of war could cause operational disruptions(p.60)
- • Foreign investor restrictions limiting company's ability to attract foreign capital(p.58)
- • Vulnerability to cyber-security breaches and data theft affecting customer information(p.45)
- • Changing laws, regulations and GST policy developments could adversely impact operations(p.59)
- • Global economic slowdown risks(p.135)
- • Geopolitical and commodity price volatility(p.140)
- • Regulatory and compliance risks in financial services(p.106)
- • Emerging market currency and interest rate volatility(p.143)
- • Rising interest rates impacting borrowing costs(p.136)
- • Regulatory uncertainty regarding third-party litigation funding in India(p.156)
- • Intense competition from multiple players in investment recovery and litigation funding verticals(p.179)
- • Difficulty in retaining skilled staff impacting business continuity(p.179)
- • Rapid changes in government policies affecting regulatory compliance(p.179)
- • Judicial delays in India increasing litigation timelines and costs(p.163)
- • High cost of contract enforcement at 31% of claim value impacting recovery viability(p.163)
- • Heavy dependence on investment recovery services for majority of revenue(p.303)
- • Regulatory changes in capital markets and investment regulations(p.292)
- • Volatility in Indian and global capital markets affecting client investments(p.293)
- • General business profitability dependent on market-driven demand and competition(p.307)
- • Potential increase in cost of production affecting future profitability(p.307)
- • Exposure to interest rate risks from bank borrowings(p.309)
- • Regulatory and operational risks inherent to capital markets participation(p.307)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Abhay Kumar Chandalia | Promoter | 39.30% | 28.89% |
| Vikash Kumar Jain | Promoter | 38.06% | 27.98% |
| Abhay Kumar Chandalia | Promoter | 39.30% | 28.89% |
| Vikash Kumar Jain | Promoter | 38.06% | 27.98% |
| Abhay Kumar Chandalia | Promoter | 39.30% | — |
| Vikash Kumar Jain | Promoter | 38.06% | — |
| Abhay Kumar Chandalia | Promoter | 39.30% | — |
| Vikash Kumar Jain | Promoter/Executive Director | 38.06% | — |
| Abhay Kumar Chandalia | Promoter and Director | — | — |
Leadership
Abhay Kumar Chandalia · Promoter
Vikash Kumar Jain · Promoter
Kumar Rishi · CFO, Company Secretary & Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Offer documents
Share Samadhan IPO FAQs
What is the lot size of Share Samadhan IPO?
The minimum lot size of Share Samadhan IPO is 1,600 shares. One lot costs ₹1,18,400 at the cut-off price.
When does Share Samadhan IPO open and close?
Share Samadhan IPO opened for subscription on 09 Sep 2024 and closed on 11 Sep 2024.
What is the listing date of Share Samadhan IPO?
Share Samadhan IPO listed on 16 Sep 2024.