About
Shyam Dhani Industries IPO is a book build issue of ₹38.49 crores. The issue is entirely a fresh issue of 0.55 crore shares of ₹38.49 crore.
Shyam Dhani Industries IPO bidding started from Dec 22, 2025 and ended on Dec 24, 2025. The allotment for Shyam Dhani Industries IPO was finalized on Dec 26, 2025. The shares got listed on NSE SME on Dec 30, 2025.
Shyam Dhani Industries IPO price band is set at ₹70 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹2,80,000 (4,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (6,000 shares), amounting to ₹4,20,000.
Holani Consultants Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Holani Consultants Pvt.Ltd..
Refer to Shyam Dhani Industries IPO RHP for detailed Information.
IPO Stock Quote & Charts
IPO Open
Mon, Dec 22, 2025
IPO Close
Wed, Dec 24, 2025
Issue Price
₹70 per share
Market Cap (Pre-IPO)
₹144.59 Cr
IPO Details
| IPO Date | 22 to 24 Dec, 2025 |
| Listed on | Tue, Dec 30, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹65 to ₹70 |
| Issue Price | ₹70 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 54,98,000 shares (agg. up to ₹38 Cr) |
| Reserved for Market Maker | 2,80,000 shares (agg. up to ₹2 Cr) Holani Consultants Pvt.Ltd. |
| Net Offered to Public | 52,18,000 shares (agg. up to ₹37 Cr) |
| Share Holding Pre Issue | 1,51,58,000 shares |
| Share Holding Post Issue | 2,06,56,000 shares |
| NSE Symbol | SHYAMDHANI |
| ISIN | INE1CRP01016 |
IPO Timetable
- IPO OpenMon, Dec 22, 2025
- IPO CloseWed, Dec 24, 2025
- AllotmentFri, Dec 26, 2025
- RefundMon, Dec 29, 2025
- Credit of SharesMon, Dec 29, 2025
- ListingTue, Dec 30, 2025
IPO Reservation
Shyam Dhani Industries IPO offers total 54,98,000 shares. Out of which 26,04,000 (47.36%) allocated to QIB, 10,44,000 (18.99%) allocated to QIB (Ex- Anchor), 7,86,000 (14.30%) allocated to
NII
18,28,000 (33.25%) allocated to RII and 15,60,000 (28.37%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,80,000 (5.09%) |
| QIB Shares Offered | 26,04,000 (47.36%) |
| − Anchor Investor Shares Offered | 15,60,000 (28.37%) |
| − QIB (Ex. Anchor) Shares Offered | 10,44,000 (18.99%) |
| NII (HNI) Shares Offered | 7,86,000 (14.30%) |
| − bNII > ₹10L | 5,24,000 (9.53%) |
| − sNII < ₹10L | 2,62,000 (4.77%) |
| Retail Shares Offered | 18,28,000 (33.25%) |
| Total Shares Offered | 54,98,000 (100.00%) |
IPO Lot Size
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 4,000 | ₹2,80,000 |
| Individual investors (Retail) (Max) | 2 | 4,000 | ₹2,80,000 |
| S-HNI (Min) | 3 | 6,000 | ₹4,20,000 |
S-HNI (Max) | 7 | 14,000 | ₹9,80,000 |
B-HNI (Min) | 8 | 16,000 | ₹11,20,000 |
IPO Anchor Investors
Shyam Dhani Industries IPO raises ₹10.92 crore from anchor investors. Shyam Dhani Industries IPO Anchor bid date is December 19, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Dec 19, 2025 |
| Shares Offered | 15,60,000 |
| Anchor Portion (₹ Cr.) | 10.92 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Jan 24, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Mar 25, 2026 |
About Shyam Dhani Industries Ltd.
Incorporated in 1995, Shyam Dhani Industries Limited is an ISO-certified company and manufacturer, exporter, wholesaler, and supplier of Premium Spices, Spices Powder, Whole Spices, etc.
They trade and distribute 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.
The company processes 163 varieties of spices, including Ground, Blend, and Whole Spices under the brand name “SHYAM”.
The company trades and distributes grocery products like black salt, rock salt, rice, poha, kasuri methi, and a range of herbs and seasonings, including oregano, peri peri, chilli flakes, mixed herbs, onion flakes, and tomato powder.
The company’s manufacturing unit is situated in Jaipur, Rajasthan.
The company operthrough General Trade (wholesalers and distributors), Modern Trade (supermarkets and retail chains), and Quick Commerce Platforms (apps), ensuring easy access to productsail chains), and Quick Commerce Platforms (apps), providing easy product accessibility. They also engage in Private Labelling, HoReCa (Hotel, Restaurant, Catering) sales, and Export Sales.
As of 30 November 2025, they had 394 employees, including Accounts & Finance, Compliance, Maintenance, Marketing & Logistics, Production & Operations, Quality, Top Level Management, and Permanent Labour.
Competitive Strength:
- Offering high-quality natural spices while promoting sustainable, ethical sourcing and production.
- Experienced management team and promoters with a qualified workforce.
- Established a manufacturing facility and integrated production with cost efficiencies.
- Diversified product portfolio.
- Strong and consistent financial performance.
Company Financials (Restated Consolidated)
Shyam Dhani Industries Ltd.’s revenue increased by 16% and profit after tax (PAT) rose by 28% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 88.79 | 82.47 | 52.84 | 27.51 |
| Total Income | 63.83 | 124.75 | 107.64 | 68.10 |
| Profit After Tax | 4.20 | 8.04 | 6.30 | 2.92 |
| EBITDA | 8.66 | 14.52 | 10.88 | 5.97 |
| NET Worth | 27.81 | 23.61 | 15.56 | 9.26 |
| Reserves and Surplus | 12.93 | 8.73 | 14.42 | 8.12 |
| Total Borrowing | 48.18 | 47.24 | 24.45 | 12.75 |
| Amount in ₹ Crore | ||||
IPO Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the incremental working capital requirements of our company | 13.26 |
| 2 | Repayment/Pre-payment, in full or in part, of certain outstanding borrowings availed by our company. | 10.00 |
| 3 | Brand Creation and Marketing Expenses | 6.36 |
| 4 | Capital Expenditure towards the purchase of new additional machineries to be installed at the existing manufacturing unit | 1.63 |
| 5 | Purchase and installation of Solar Rooftop Plant at the existing manufacturing unit | 0.65 |
| 6 | General Corporate Purposes | 2.57 |
Key Performance Indicator (KPI)
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 41.06% |
| ROCE | 39.00% |
| Debt/Equity | 2.00 |
| RoNW | 34.07% |
| PAT Margin | 6.45% |
| EBITDA Margin | 11.65% |
| Price to Book Value | 4.41 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 5.31 | 4.07 |
| P/E (x) | 13.19 | 17.21 |
| Promoter Holding | 98.11% | 72% |
| Market Cap | ₹144.59 Cr. |
- The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 available in RHP.
IPO Review
Shyam Dhani Industries IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Subscription Status
The Shyam Dhani Industries IPO is subscribed 988.29 times on December 24, 2025 6:19:59 PM (Day 3). The public issue subscribed 1,137.92 times in the individual investors category, 256.24 times in the QIB category, and 1,612.65 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category |
Subscription (x) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB (Ex Anchor) | 256.24 | 10,44,000 | 26,75,16,000 | 168 |
| NII* | 1,612.65 | 7,86,000 | 1,26,75,44,000 | 0 |
| bNII (bids above ₹10L) | 1,849.56 | 5,24,000 | 96,91,70,000 | |
| sNII (bids below ₹10L) | 1,138.83 | 2,62,000 | 29,83,74,000 | |
| Individual Investor | 1,137.92 | 18,28,000 | 2,08,01,12,000 | 5,20,028 |
| Total | 988.29 | 36,58,000 | 3,61,51,72,000 | 6,22,075 |
Total Application : 6,22,075
*Market Maker portion is not included to NII/HNI.
IPO Expenses
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Book Running Lead Managers for managing the IPO | 0.42 |
| 2 | Fees payable to the Book Running Lead Manager as Underwriting commission | 2.31 |
| 3 | Selling commission/processing fee for SCSBs, Sponsor Banks and fee payable to the Sponsor Banks for Bids made by RIBs and brokerage and selling commission and bidding/uploading charges for members of the Syndicate (including their Sub-Syndicate Members), Registered Brokers, RTAs and CDPs | 0.05 |
| 4 | Advertising and marketing expenses | 0.65 |
| 5 | Fees payable to the Legal Advisors | 0.03 |
| 6 | Fees payable to the Registrar to the Issue | 0.15 |
| 7 | Fees payable to the to the regulators including Stock Exchanges | 0.22 |
| 8 | Printing and distribution of issue stationery | 0.01 |
| 9 | Others (Bankers to the Issue, auditor’s fees etc. | 0.18 |
Listing Day Trading Information
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹70.00 |
| Open | ₹133.00 |
| Low | ₹133.00 |
| High | ₹139.65 |
| Last Trade | ₹139.65 |
Check IPO Performance…
IPO Registrar
Bigshare Services Pvt.Ltd.
- +91-22-6263 8200
- ipo@bigshareonline.com
- Visit Website
IPO Lead Manager(s)
- Holani Consultants Pvt.Ltd. (Past IPO Performance)
Lead Manager Reports
- Lead Manager Performance Summary
- Lead Manager Performance Tracker
Contact Details
- +91 9257061811
- info@shyamspices.co.in
- Visit Website
IPO FAQs
Shyam Dhani Industries IPO is a SME IPO of 54,98,000 equity shares of the face value of ₹10 aggregating up to ₹38 Crores. The issue is priced at ₹70 per share. The minimum order quantity is 2000.
The IPO opens on Mon, Dec 22, 2025, and closes on Wed, Dec 24, 2025.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Shyam Dhani Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Shyam Dhani Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Shyam Dhani Industries IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the ‘Shyam Dhani Industries IPO‘ row and click the ‘Bid’ button.
- Enter your UPI ID, Quantity, and Price.
- Submit IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Zerodha IPO Application Process Review for more detail.
The Shyam Dhani Industries IPO opens on Mon, Dec 22, 2025 and closes on Wed, Dec 24, 2025.
Shyam Dhani Industries IPO lot size is 2000, and the minimum amount required for application is ₹2,80,000, with 2 lots being the minimum application size.
You can apply in Shyam Dhani Industries IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Shyam Dhani Industries IPO will be done on Friday, December 26, 2025, and the allotted shares will be credited to your demat account by Mon, Dec 29, 2025. Check the Shyam Dhani Industries IPO allotment status.
The Shyam Dhani Industries IPO listing date is on Tue, Dec 30, 2025.
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