Shyam Dhani Inds IPO opens Dec 22; GMP 50%: Check price band, key dates

Shyam Dhani Industries IPO: The initial public offering (IPO) of manufacturer and supplier of Premium Spices Shyam Dhani Industries will open for public subscription on Monday, December 22, 2025. Through its maiden share sale, the company seeks to raise ₹38.49 crore, which comprises a fresh issue of 5.5 million equity shares. There is no offer for sale (OFS) component.

 

Shyam Dhani Industries IPO is being offered at a price band of ₹65 to ₹70 per share, with a lot size of 2,000 shares. At the upper price band, a retail investor will require ₹2,80,000 to bid for two lots consisting of 4,000 shares. 

 

Established in 1995, Shyam Dhani Industries is an ISO-certified manufacturer, exporter, wholesaler, and supplier of Premium Spices, Spices Powder, Whole Spices, etc. The company trades a range of grocery products like Black Salt, Rock Salt, Rice, Poha, Kasuri Methi, and a variety of Herbs and seasonings, including Organo, Peri Peri, Chilli Flakes, Mixed Herbs, Onion Flakes, and Tomato Powder. It processes 163 varieties of spices under the brand name “Shyam". The company operates a manufacturing unit in Jaipur, Rajasthan.  

Here are the key details of Shyam Dhani Industries IPO:

Shyam Dhani Industries IPO GMP

According to sources tracking unofficial markets, the unlisted shares of Shyam Dhani Industries were trading at ₹105, commanding a grey market premium (GMP) of ₹35 or 50 per cent against the upper end of the price band of ₹65 to ₹70.

Shyam Dhani Industries IPO key dates

The public issue will remain open for subscription until Wednesday, December 24, 2025. The basis of allotment for the company’s shares is expected to be finalised on Friday, December 26, while the shares will be credited to investors’ demat accounts on Monday, December 29. Shyam Dhani shares are tentatively scheduled to be listed on the NSE SME platform on Tuesday, December 30, 2025.

Shyam Dhani Industries IPO registrar, lead manager

Bigshare Services is acting as the registrar for the public offering, while Holani Consultants is serving as the sole book-running lead manager.

Shyam Dhani Industries IPO objective

According to the red herring prospectus (RHP), the company intends to utilise ₹13.26 crore from the net fresh issue proceeds for meeting its working capital requirements. Additionally, ₹10 crore will be used for repayment or prepayment of certain debt availed by the company, ₹6.35 crore for brand creation and marketing expenses, ₹1.63 crore for purchasing new machinery, and ₹64.9 crore for setting up a solar rooftop plant at the existing manufacturing unit. The remaining funds will be used for general corporate purposes.  

Shyam Dhani Industries financial overview

In the financial year 2025 (FY25), the company had reported a revenue from operations of ₹124.68 crore, up 15.87 per cent from ₹107.6 crore in the year-ago period. The company's gross profit came in at ₹25.75 crore in FY25, up from ₹17.97 crore in the previous year. Its profit after tax (PAT) stood at ₹80.4 crore against ₹63 crore in FY24.