Shyam Dhani IPO listing: Shares of Shyam Dhani made a blockbuster debut in the Indian stock market on Tuesday, December 30, as they listed at a 90% premium over the initial public offering price (IPO) of ₹70 on the NSE SME platform.
Shyam Dhani share price opened at ₹133 on NSE SME, up 90%. The stock jumped another 1% to ₹136 immediately after listing.
The listing of Shyam Dhani shares was in line with the grey market trend. Ahead of the debut, the shares of Shyam Dhani IPO were commanding a strong grey market premium (GMP) of ₹68.
Shyam Dhani IPO details
The ₹38.49-crore public issue witnessed an extraordinary overall subscription of 988.29 times, driven by overwhelming interest from non-institutional investors, whose segment was subscribed a whopping 1,612.65 times.
The retail category received 1,137.92 times bids, while the qualified institutional buyers' segment was subscribed 256.24 times, highlighting strong demand across all investor categories.
The IPO, comprising entirely a fresh issue, was priced in the range of ₹65 to ₹70 apiece, valuing the company at around ₹145 crore. Shyam Dhani IPO opened on December 22 and closed on December 24.
Funds raised through the issue will primarily be used to meet working capital needs, repay existing borrowings, strengthen brand building and marketing initiatives, expand capacity through the purchase of new machinery, and set up a solar rooftop plant at the current facility.
Founded in 1995, Shyam Dhani Industries operates in the manufacturing, processing and trading of spices and grocery products under the “Shyam” brand. The company handles more than 160 varieties of spices and has established a wide distribution network spanning general trade, modern retail, quick commerce platforms, HoReCa and exports. Its manufacturing unit is based in Jaipur, Rajasthan, and it employed 394 people as of November 2025.
For FY25, Shyam Dhani posted a PAT margin of 6.45% and an EBITDA margin of 11.65%, while return metrics stayed robust, highlighted by an ROE of 41.06%.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
