Shellz India IPO

Shellz India Ltd. is engaged in the manufacturing and marketing of a wide range of confectionery products in India, supported by a diversified portfolio of over 250 SKUs. These offerings span across multiple categories, including chocolate-based products, jellies, baked treats, and other confectionery formats. In addition, the company manufacture and supply food and bakery ingredients, catering to urban and semi-urban markets, as well as smaller towns and rural areas, leveraging an extensive distribution network. It market its consumer products under two key brands: Hugs and Tosca. The flagship Hugs brand is positioned for the mass market and includes products across four primary categories: baked treats, chocolate-based confectionery, jellies, and panned and sugar confectionery. As of September 30, 2025, its products are distributed through a network of over 200 super stockists and are available across kirana outlets in approximately 24 states. The Tosca brand is positioned toward the mass-premium segment, offering products at relatively higher price points. This brand targets urban consumers with differentiated formats and packaging. In addition to the branded consumer business, the business also undertake private label manufacturing for third-party customers. Furthermore, the company export its products to international markets, including regions in the Middle East, Southeast Asia, and Europe (including Spain). These additional channels complement its core operations, enabling diversification across customers, product categories, and distribution channels.