Shyam Dhani Industries Lists at 90% Premium; Debuts at ₹133

Mumbai| December 30

Shares of spices manufacturer Shyam Dhani Industries Ltd debuted on December 30 at ₹133 per share on the NSE SME platform Emerge, delivering a 90% listing premium over its IPO price of ₹70.
The price band for the IPO was set at Rs 65-70 per share.
The strong debut valued the Jaipur-based firm at around ₹282 crore, in line with strong grey market expectations that had indicated nearly 97% listing gains before debut.

The robust listing adds to the string of successful SME IPO offerings that have delivered  impressive returns for investors this year.

Robust IPO Participation

The ₹38.49-crore IPO, open for subscription between December 22 and 24, garnered extraordinary investor participation.
According to exchange data, the issue was subscribed 988.29 times overall, with retail and non-institutional investors leading the rush.

• Retail investors: 1,138X
• Non-institutional investors: 1,613X
• Qualified institutional buyers: 256X

Before opening, the company raised ₹10.9 crore from anchor investors by allotting 15.6 lakh shares to SIDBI, Rajasthan Global Securities Pvt Ltd, Saint Capital Fund, and SB Opportunities Fund II.
The entire IPO was a fresh issue of 54.98 lakh shares, with no offer-for-sale component.

Use of Proceeds

The IPO proceeds will be utilised for working capital, brand creation, marketing, repayment of debt, and installation of a solar rooftop plant at its existing manufacturing facility.
Funds will also support the purchase of new machinery and general corporate purposes.

About the Company
Shyam Dhani Industries is a manufacturer of more than 160 spice varieties, sold under the brand SHYAM.
Its portfolio includes whole and blended spices, herbs, and seasonings such as chilli flakes, kasuri methi, organo, onion flakes, and tomato powder.
The company also trades and distributes grocery staples like rock salt, black salt, poha, and rice.

The firm’s growing distribution footprint and branding investments come amid rising demand for organised spice manufacturers in India’s fast-moving food sector.

Company’s revenues increased by 16% and profit after tax rose by 28% between the financial year ending with March 31, 2025 and March 31, 2024.

Following the strong listing performance, investors will closely monitor the company’s financial results and stock price trajectory.

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