Shyam Dhani IPO Description – The company is engaged in the manufacturing and processing of a wide variety of spices such as Ground Spices, Blend Spices and Whole Spices under the brand name “SHYAM”. In addition, it is also engaged in trading and distribution of Grocery Products such as Black Salt, Rock Salt, Rice, Poha, Kasuri Methi (Dried Fenugreek) etc. and a diverse range of Herbs and seasonings which includes Organo, Peri Peri, Chilli Flakes, Mixed Herbs, Onion Flakes, Tomato Powder etc.
Shyam Dhani Industries sources the raw material of spices directly from mandis and suppliers situated across India and processes and manufactures them at its manufacturing facility situated at Khasra No. 06/1067 Manpura Road, Jatawali, near Delhi bypass, Tehsil – Chomu, Jaipur, Rajasthan. The manufacturing facility is equipped with plant and machinery to facilitate efficient production process of cleaning, drying, grading, grinding and packaging.
The company operates across multiple sales channels, catering to both Business to Business (“B2B”) and Direct to Consumer (“D2C”) markets. In the B2B space, it serves customers through General Trade (wholesalers and distributors across India), Modern Trade (supermarkets and big retail chains), and Quick Commerce Platforms (through quick commerce apps). It is also involved in Private Labelling, HoReCa (Hotel, Restaurant, and Catering) sales, and Export Sales.
Promoters of Shyam Dhani Industries – Mr Ramawtar Agarwal, Mrs Mamta Devi Agarwal, Mr Vithal Agarwal
Table of Contents
Shyam Dhani IPO Details
| Shyam Dhani IPO Dates | 22 – 24 December 2025 |
| Shyam Dhani Issue Price | INR 65 – 70 per share |
| Fresh Issue | 54,98,000 shares (INR 35.74 – 38.49 crore) |
| Offer For Sale | Nil |
| Total IPO Size | 54,98,000 shares (INR 35.74 – 38.49 crore) |
| Minimum Bid | 4,000 shares (INR 2,80,000) |
| Lot Size | 2,000 shares (INR 1,40,000) |
| Face Value | INR 10 per share |
| Individual Allocation | 35% |
| Listing On | NSE EMERGE |
Shyam Dhani Financial Performance
| FY 2023 | FY 2024 | FY 2025 | H1 FY 2026 | |
| Revenue | 67.95 | 107.61 | 124.68 | 63.78 |
| Expenses | 63.87 | 99.22 | 113.98 | 58.19 |
| Net income | 2.92 | 6.30 | 8.04 | 4.20 |
Shyam Dhani Offer News
- Shyam Dhani RHP
- Shyam Dhani Draft Prospectus
- ASBA IPO Forms
- Live IPO Subscription Status
- Highest SME IPO Subscription in 2025
Shyam Dhani Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 | |
| EPS | 1.97 | 4.24 | 5.41 |
| PE ratio | – | – | 12.01 – 12.94 |
| RONW (%) | 31.57 | 40.50 | 34.07 |
| NAV | 6.23 | 10.47 | 15.87 |
| ROCE (%) | 39.69 | 46.16 | 39.00 |
| EBITDA (%) | 8.78 | 10.12 | 11.65 |
| Debt/Equity | 1.38 | 1.57 | 2.00 |
Shyam Dhani IPO GMP Today
| Date | Consolidated IPO GMP | Subject to Sauda |
| 29 December 2025 | 72 | 1,10,000 |
| 27 December 2025 | 72 | 1,10,000 |
| 26 December 2025 | 72 | 1,10,000 |
| 25 December 2025 | 72 | 1,10,000 |
| 24 December 2025 | 56 | 86,000 |
| 23 December 2025 | 47 | 73,000 |
| 22 December 2025 | 38 | 60,000 |
| 20 December 2025 | 38 | 60,000 |
| 19 December 2025 | 35 | 58,000 |
| 18 December 2025 | 20 | 31,000 |
| 17 December 2025 | 20 | 31,000 |
| 16 December 2025 | 20 | 31,000 |
| 15 December 2025 | 20 | 31,000 |
Shyam Dhani IPO Subscription – Live Updates
| Category | QIB | NII | Individual | Total |
|---|---|---|---|---|
| Shares Offered | 10,44,000 | 7,86,000 | 18,28,000 | 36,58,000 |
| 24 Dec 2025 | 256.24 | 1613.08 | 1137.95 | 988.40 |
| 23 Dec 2025 | 10.70 | 372.83 | 352.80 | 259.47 |
| 22 Dec 2025 | 10.43 | 74.08 | 84.84 | 61.29 |
The anchor Investors portion of 15,60,000 shares and the market maker reservation portion of 2,80,000 shares is not included in the above calculations.
Shyam Dhani IPO Allotment Status
Shyam Dhani IPO allotment status is now available on Bigshare Services’ website. Click on this link to get the allotment status.
Shyam Dhani IPO Dates & Listing Performance
| IPO Opening Date | 22 December 2025 |
| IPO Closing Date | 24 December 2025 |
| Finalization of Basis of Allotment | 26 December 2025 |
| Initiation of refunds | 29 December 2025 |
| Transfer of shares to demat accounts | 29 December 2025 |
| IPO Listing Date | 30 December 2025 |
| Opening Price on NSE SME | INR 133 per share (up 90%) |
| Closing Price on NSE SME | INR 139.65 per share (up 99.50%) |
Shyam Dhani Offer Lead Manager
HOLANI CONSULTANTS PRIVATE LIMITED
401 – 405 & 416 – 418, 4th Floor, Soni Paris Point,
Jai Singh Highway, Bani Park, Jaipur – 302016
Phone: +91 0141 – 2203996
Email: [email protected]
Website: www.holaniconsultants.co.in
Shyam Dhani Offer Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Pinnacle Business Park,
Mahakali Caves Road, next to Ahura Centre,
Andheri East, Mumbai- 400093, Maharashtra
Phone: +91 22 6263 8200
Email: [email protected]
Website: www.bigshareonline.com
Shyam Dhani Contact Details
SHYAM DHANI INDUSTRIES LIMITED
F-438-A, Road No. 12, VKIA,
Jaipur Rajasthan 302013 India
Phone: +91 9257061811
E-mail: [email protected]
Website: www.shyamspices.co.in
IPO FAQs
What is the Shyam Dhani offer size?
Shyam Dhani’s offer size is INR 35.74 – 38.49 crores.
What is the Shyam Dhani offer price band?
Shyam Dhani public offer price is INR 65 – 70 per share.
What is the lot size of the Shyam Dhani IPO?
Shyam Dhani offer lot size is 2,000 shares.
What is the Shyam Dhani IPO GMP today?
Shyam Dhani IPO GMP today is INR 72 per share.
What is the Shyam Dhani IPO Subject to Sauda rate today?
Shyam Dhani Subject to Sauda rate today is INR 1,10,000 per application.