Shyam Dhani Industries IPO Gets Massive Subscription — Expected Listing With Strong GMP Buzz

Shyam Dhani Industries’ SME IPO has attracted overwhelming investor interest, recording extraordinary subscription numbers across all categories. Strong grey-market momentum and robust demand suggest the stock may debut significantly above its issue price.

Shyam Dhani Industries IPO Receives Heavy Subscription

Record-Breaking Investor Response

The Shyam Dhani Industries IPO, which opened between December 22 and 24, received record-breaking subscription from investors. Strong activity in the grey market further boosted excitement around this SME issue, making investor enthusiasm quite natural.

Subscription Surged Rapidly

The issue was fully subscribed within minutes of opening as investors rushed to apply.

• Day 1: 64.54 times subscribed

• Day 2: Accelerated to 263.55 times

• Final Day: Reached an extraordinary 988.29 times subscription

Across all investor categories, strong participation was clearly visible:

• Retail: 1,137.92x

• NII: 1,612.65x

• QIB: 256.24x

Rising Grey Market Premium (GMP)

Strong Premium Trends

The IPO continues to create buzz in the grey market, with the premium rising steadily. Market sources indicate the Shyam Dhani Industries IPO GMP is around ₹70, which is 100% higher than the cap price.

Based on this GMP, the estimated listing price could be around ₹140, hinting at substantial gains for investors. However, regulations allow SME IPOs to list at a maximum premium of up to 90%, so final listing performance will depend on market conditions.

IPO Details

Key Offer Information

• Issue Size: ₹39.49 crore

• Price Band: ₹65–₹70 per share

• Estimated Company Valuation (upper band): ₹144.6 crore

• Allotment Date: December 26

• Listing Date: December 30 (NSE SME platform)

Before the public issue, the company raised ₹10.92 crore from anchor investors.

Planned Utilization of IPO Funds

Investment Priorities

Funds raised from the IPO will be primarily used for:

• Capital expenditure requirements

• Purchase of new machinery

• Installation of a solar rooftop system

• Partial repayment of existing borrowings

• Working capital needs

Business Profile: Spices and Grocery Products

Product Portfolio

Shyam Dhani Industries is engaged in the manufacturing and marketing of spices and grocery products. Under the “Shyam” brand, the company processes over 160 varieties of ground, blended, and whole spices.

It also deals in products such as:

• Black salt and rock salt

• Rice and poha

• Kasuri methi

• Various seasoning mixes

Manufacturing & Distribution

The company’s manufacturing facility is located in Jaipur, Rajasthan, and its products are sold through:

• General trade

• Modern retail outlets

• Quick commerce platforms

• HoReCa channels

• Export markets

Holani Consultants Private Limited is the Book Running Lead Manager, Bigshare Services Private Limited is the Registrar, and Holani Consultants Private Limited also acts as the Market Maker.