diff --git a/x/gamm/pool-models/balancer/amm.go b/x/gamm/pool-models/balancer/amm.go
index b81b9cb4c3c..a0cd9990255 100644
--- a/x/gamm/pool-models/balancer/amm.go
+++ b/x/gamm/pool-models/balancer/amm.go
@@ -293,8 +293,6 @@ func (p *Pool) CalcJoinPoolShares(_ sdk.Context, tokensIn sdk.Coins, swapFee sdk
 		poolAssetsByDenom[coin.Denom] = poolAsset
 	}
 
-	totalShares = totalShares.Add(numShares)
-
 	// If there are coins that couldn't be perfectly joined, do single asset joins
 	// for each of them.
 	if !remCoins.Empty() {
@@ -309,6 +307,8 @@ func (p *Pool) CalcJoinPoolShares(_ sdk.Context, tokensIn sdk.Coins, swapFee sdk
 		}
 	}
 
+	totalShares = totalShares.Add(numShares)
+
 	return numShares, newLiquidity, nil
 }