Shyam Dhani Industries NSE SME

Shyam Dhani Industries SME IPO

Listed

NSE SMEOpens 22 December 2025Closes 24 December 2025

Shyam Dhani Industries Limited, established in 1995, is an ISO-certified manufacturer, exporter, and supplier of premium spices, spice powders, and whole spices under the brand name 'SHYAM'. The company processes 163…

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Live GMPSubscriptionAllotment
Price band
₹65 - ₹70
Issue size
₹36.53 Cr
Lot size
2,000 shares
Type
NSE SME
GMP
₹68 (+97.1%)
Est. listing
₹138
Est. profit / app
₹2,72,000
Retail quota
33.25%

Key ratios

As per RHP / filings
Face value
₹10
EPS
4.07
P/E ratio
17.21
RoNW
34.07%
ROE
41.06%
Debt / Equity
2
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Timeline

  1. IPO Opens

    22 Dec 2025

  2. IPO Closes

    24 Dec 2025

  3. Allotment

    26 Dec 2025

  4. Listing

    30 Dec 2025

IPO Timeline & Listing Details

EventDate
IPO Open Date22 December 2025
IPO Close Date24 December 2025
Allotment Date26 December 2025
Listing Date30 December 2025

Investment Categories

CategoryLotsAmount
Individual
2₹2,80,000
SHNI (Min)
3₹4,20,000
SHNI (Max)
7₹9,80,000
BHNIAbove ₹10,00,000
8₹11,20,000

IPO Reservation Details

CategoryReservation
QIB (Qualified Institutional Buyer)47.36%
NII (Non-Institutional Investor)14.30%
Retail33.25%
Market Maker5.09%
Total100.00%

IPO Objectives

  • Funding incremental working capital requirements of the company (₹13.26 Cr).
  • Part repayment or prepayment of existing debt and Cash Credit Facility (₹10.00 Cr).
  • Brand creation and marketing expenses (₹6.36 Cr).
  • Purchase of additional machinery for the existing manufacturing unit in Jaipur (₹1.63 Cr).
  • Purchase and installation of a 200 KW Solar Rooftop Grid-connected PV System (₹0.65 Cr).
  • General Corporate Purposes.

Strengths

  • The company possesses an Established Brand & Diversified Portfolio, utilizing the 'SHYAM' label with 163 spice varieties catering to diverse tastes.
  • It operates an Omnichannel Sales Network, maintaining an effective presence across B2B and D2C channels, including modern retail and international exports.
  • The business benefits from Integrated Infrastructure, with an in-house manufacturing facility in Jaipur that enables end-to-end cost efficiencies and quality control.
  • It demonstrates Consistent Profitability, with robust PAT growth of 28% in FY25 and high return ratios, including an RoNW of 34.07%.
  • The company is led by Experienced Leadership, with a promotion team that has deep domain expertise in the FMCG and spices sector.

Weaknesses

  • The company faces High Financial Leverage, evidenced by a significant Debt-to-Equity ratio of 2.00, indicating a high reliance on external borrowings.
  • There is high Raw Material Seasonality, as the business is heavily dependent on agricultural inputs subject to weather conditions and price volatility.
  • The business carries Demand Forecasting Risk due to the semi-perishable nature of spices, making it vulnerable to inventory spoilage and waste.
  • It is involved in Ongoing Litigations, including trademark disputes, which could potentially impact reputation and financial performance.
  • The company operates in a market with Intense Competition, facing pressure from both organized national giants and local unorganized players.
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Financial Performance

Period Ended30 Sep 202531 Mar 202531 Mar 202431 Mar 2023
Assets (₹ Cr.)88.7982.4752.8427.51
Revenue (₹ Cr.)63.83124.75107.6468.1
PAT (₹ Cr.)4.28.046.32.92
Net Worth (₹ Cr.)27.8123.6115.569.26

Peer Comparison

CompanyP/B RatioP/E RatioRONW (%)Net Worth (₹ Cr.)
Shyam Dhani Industries4.4117.2141.06%27.81
Madhusudan Masala Limited1.9312.0512.91%93.66
NHC Foods Ltd.0.659.66.7%82.71

Subscription Details

Daily Bids Status

CategoryDay 1Day 2Day 3
QIB10.43x10.7x256.24x
NII77.01x373.52x1,612.65x
S-HNI78.27x319.08x1,138.83x
B-HNI76.38x400.74x1,849.56x
RII90.08x360.68x1,137.92x
Total64.54x263.55x988.29x

Overall Subscription Statistics

CategoryShares OfferedShares BidBid Amount (₹ Cr)
QIB10,44,00026,75,16,0001,872.61
NII7,86,0001,26,75,44,0008,872.81
Small NII2,62,00029,83,74,0002,088.62
Big NII5,24,00096,91,70,0006,784.19
RII18,28,0002,08,01,12,00014,560.78
Total36,58,0003,61,51,72,00025,306.2
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Company Details

  • Shyam Dhani Industries Ltd.
  • 401-405 & 416-418, 4th Floor, Soni Paris Point, Jai Singh Highway, Bani Park, Jaipur, Rajasthan - 302016
  • +91 141 2203996
  • info@shyamspices.com
  • http://www.shyamspices.com/

Registrar Details

Frequently Asked Questions

What is the business focus of Shyam Dhani Industries?
Shyam Dhani Industries is a manufacturer and wholesaler of 163 varieties of premium spices under the brand 'SHYAM'. They also trade grocery staples and specialty seasonings, serving both B2B and D2C markets across India and internationally.
When does the Shyam Dhani Industries IPO open and close?
The IPO opens for public subscription on Monday, December 22, 2025, and closes on Wednesday, December 24, 2025.
What is the IPO price band and minimum retail investment?
The price band is fixed at ₹65 to ₹70 per share. The minimum lot size is 2,000 shares, but for retail investors, the minimum application is 2 lots (4,000 shares), requiring an investment of ₹2,80,000 at the upper price band.
What is the latest GMP (Grey Market Premium) for the IPO?
As of December 21, 2025, the GMP is approximately ₹35, indicating a potential listing price of ₹105 (a premium of 50.00% over the issue price).
How did the anchor investment portion perform?
The company successfully raised ₹10.92 crore from anchor investors on December 19, 2025, including institutional names like SIDBI and Rajasthan Global Securities.
Where will the Shyam Dhani Industries shares be listed?
The shares are proposed to list on the NSE SME platform, with a tentative listing date of December 30, 2025.

Shyam Dhani Industries SME IPO News & Updates

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Shyam Dhani Industries SME IPO IPO Pages

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Shyam Dhani Industries SME IPO Details

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Shyam Dhani Industries SME IPO GMP

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Shyam Dhani Industries SME IPO Subscription

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Shyam Dhani Industries SME IPO Allotment

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Shyam Dhani Industries SME IPO Review

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Shyam Dhani Industries SME IPO FAQ

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Shyam Dhani Industries SME IPO Registrar

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Shyam Dhani Industries SME IPO Timeline

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Shyam Dhani Industries SME IPO News

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Sources

We match Shyam Dhani Industries SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

  • SEBIRules for IPO allotment and disclosures in India
  • NSEExchange notices, bidding data, and listing updates
  • BSEExchange notices and IPO allotment check tools
  • RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
  • Bigshare Services Pvt.Ltd.Official site to check allotment status for this IPO

Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.

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