Shah Foods Limited was set up by Janak P Shah a qualified engineer, with the support of his brothers Pradip Shah, a Harvard MBA, and Sushil Shah, a plastics technologist with experience in manufacturing quality control in Norway and in Dubai. The company went public in 1986 when it commenced commercial production and is listed on Bombay Stock Exchange, now known as BSE Limited, Asia's oldest stock exchange.
Shah Foods launched several varieties of short-dough cookies including, glucose and sandwich cream biscuits, under the brand "Shahi". Later, it commenced contract manufacture of biscuits for Lipton, part of the global Unilever Group. In 1990, it commenced contract manufacture of biscuits - short dough cookies - for Britannia Industries Limited, then controlled by the American multinational giant NABISCO; Britannia was later acquired by the Wadia Group which was founded in 1736 and is still run by the same family.
Shah Foods is now run by Nirav Shah, a second-generation member of the Shah Family, with active involvement of Janak Shah.