Shyam Dhani Inds IPO sees strong demand on day 1; fully booked, GMP at 67%

Shyam Dhani Industries IPO received bids for 41.12 million equity shares compared to 3.93 million shares on offer. The demand was primarily driven by retail investors

Shyam Dhani Industries IPO subscription status Day 1: The initial public offering (IPO) of Shyam Dhani Industries, a manufacturer and supplier of premium spices, opened for public subscription on Monday, December 22, 2025. The SME public issue is receiving an overwhelming response from investors, as it was fully subscribed within a few minutes of opening. The issue was subscribed 10.44 times at 11:00 AM, according to data from the National Stock Exchange (NSE). 

 

The issue received bids for 41.12 million equity shares compared to 3.93 million shares on offer. The demand was primarily driven by retail investors who subscribed to the allotted quota by 17.62 times, followed by non-institutional buyers (NIIs) at 11.91 times. 

 

Shyam Dhani Industries IPO GMP

On Monday, the unlisted shares of Shyam Dhani Industries were trading at ₹117, commanding a premium of ₹47 or 67 per cent compared to the upper end of the price band of ₹65 to ₹70, according to sources tracking unofficial markets.

Shyam Dhani Industries IPO details

The three-day subscription window for the maiden public offering will close on Wednesday, December 24, 2025. The basis of allotment of shares is likely to be finalised on Friday, December 26, 2025. Shares of Shyam Dhani Industries will be listed on the NSE SME platform, tentatively on Tuesday, December 30, 2025.

 

Shyam Dhani Industries IPO, worth ₹38.5 crore, comprises a fresh issue of 5.5 million equity shares. There is no offer for sale (OFS) component. 

 

Shyam Dhani Industries has set the price band in the range of ₹65 to ₹70 per share, with a lot size of 2,000 shares. Retail investors would require a minimum investment amount of ₹2,80,000 shares to bid for at least two lots comprising 2,000 shares each.  

 

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

 

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 the repayment or prepayment of certain debt incurred by the company, ₹6.35 crore for brand creation and marketing expenses, ₹1.63 crore for the purchase of 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.