Raajmarg Infra Investment Trust IPO...
05 Mar, 2026
Shyam Dhani Industries IPO
Shyam Dhani Industries IPO is a book build issue of ₹38.49 cr and it is a 100% fresh issue. The price range is fixed at ₹65-₹70 per share and the minimum application lot is 2,000 shares. The minimum application is to be made for 4,000 shares amounting to ₹2,80,000 by an individual investor. The IPO opens on December 22, 2025 and closes on December 24, 2025 and will be listed on the NSE SME platform.
Company Background
Shyam Dhani Industries Ltd. was founded in 2010 and is based in Jaipur, India. The company is a leading manufacturer of more than 160 types of spices (whole, powdered and blended) and essential grocery products under the brand name "Shyam." The company has a robust network of 430 distributors in North India and exports to the UAE, UK as well and Nepal. Sourced directly from farmers, Shyam Ltd. Relishes pure as well as makes sure to promote local agriculture, offering work to more than 400 employees. Shyam Dhani Ltd. aspires to be a recognised international player in pure quality Spices, with affordable prices, thus making the differentiating pleasures of the culinary new-age Indian lifestyle accessible to all around the world.
Operations And Product Range
Facility And Production
The company has a strong manufacturing base in Jaipur that consists of a main processing unit in Chomu and a dedicated packing centre located at Vishwakarma Industrial Area. Featuring state-of-the-art technology for full cycle production, the plants comply with rigorous quality standards, including ISO and HACCP. The company is working to increase operational efficiency and sustainability by investing in newer equipment and a 200 KW solar project.
Brands And Market Presence
This company is marketed under the brand name “Shyam”. The company has established a strong foothold in the FMCG sector with a diversified portfolio of 160+ spice varieties. Its domestic dominance in North India is bolstered by a robust supply chain of approximately 430 distributors. Strategically expanding its global footprint, the company has successfully penetrated competitive international markets, exporting to the UK, USA and the UAE, underscoring its commitment to quality and scalable growth.
Revenue Channels
- • The main income source of Shyam Ltd. is Ground Spices, which contribute around 47.1% of total sales.
- • Modern trade - bulk partnership with major retail chains.
- • Direct integration with rapid delivery platforms
- • International exports to serving markets in the UK, USA, UAE and Nepal.
Management And Shareholding
Promoters And Shareholding
The promoters & shareholders of this company hold a 98.11% stake. Their primary motive is to leverage this control to drive aggressive expansion, transforming their regional expertise into a global brand by modernizing infrastructure and scaling operations while maintaining strict quality governance.
Board Members
Shyam Dhani's board combines deep industry expertise with professional governance. Key members leverage decades of experience to drive strategic growth in the spice market, focusing on product quality, financial oversight and expanding brand presence. Their vision is to become a leading national and international superbrand in innovative food products.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Shyam Dhani Industries IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Shyam Dhani Industries IPO Details
| Detail | Description |
|---|---|
| IPO Date | Mon, Dec 22, 2025 to Wed, Dec 24, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹65 to ₹70 |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 54,98,000 shares (aggregating up to ₹38.49 Cr) |
| Reserved for Market Maker | 2,80,000 shares (aggregating up to ₹1.96 Cr) Holani Consultants Pvt.Ltd. |
| Net Offered to Public | 52,18,000 shares (aggregating up to ₹36.53 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,51,58,000 shares |
| Share Holding Post Issue | 2,06,56,000 shares |
Shyam Dhani Industries IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Mon, Dec 22, 2025 |
| IPO Close Date | Wed, Dec 24, 2025 |
| Tentative Allotment | Fri, Dec 26, 2025 |
| Initiation of Refunds | Mon, Dec 29, 2025 |
| Credit of Shares to Demat | Mon, Dec 29, 2025 |
| Tentative Listing Date | Tue, Dec 30, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Dec 24, 2025 |
Shyam Dhani Industries IPO Lot Size
| 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 |
Shyam Dhani Industries IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | - |
| Promoter Holding Post Issue | - |
Competitive Strength:
- • Delivers high-quality natural spices with a strong focus on ethical sourcing and sustainable production practices.
- • Backed by a seasoned management team and promoters with deep industry expertise, supported by a skilled and qualified workforce.
- • Operates an established manufacturing facility with integrated production capabilities, ensuring operational excellence and cost efficiencies.
- • Offers a wide range of products (160+ varieties) catering to varied consumer tastes and market segments.
- • Demonstrates strong and consistent financial performance, indicating business stability and growth potential.
Shyam Dhani Industries IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2025 | 88.79 | 63.83 | 4.20 | 27.81 | - | 48.18 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2025 | 82.47 | 124.75 | 8.04 | 23.61 | - | 47.24 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 52.84 | 107.64 | 6.30 | 15.56 | - | 24.45 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 27.51 | 68.10 | 2.92 | 9.26 | - | 12.75 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| 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 |
IPO Proceeds
- • Re-stocking the infrastructure with new technology
- • Purchasing new PV systems to improve the quality of production
- • Repayment of debt and part-payment of the existing cast-credit facility
- • Funding the working capital requirement
- • General corporate purpose
Conclusion
Shyam Dhani Industries IPO offers an opportunity to invest in a solid company that is backed by a diverse spice portfolio, consistent profitability and a clear expansion roadmap. The IPO proceeds will fund capacity enhancements, debt reduction and working capital requirements and for general corporate purposes. Investors are interested in this offer because the company is growing with consistent profitability and supports the country's infrastructure plans.
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Frequently Asked Questions (FAQs)
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Q1: What are the IPO dates and price band?
Shyam Dhani Industries IPO opens on December 18, 2025 and closes on December 22, 2025. The price band is set at ₹65 to ₹70 per share.
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Q2: Where will the IPO list?
The IPO will list on the NSE SME platform, with a tentative listing date of December 30, 2025.
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Q3: What does the company do?
Shyam Dhani Industries manufactures over 160 varieties of spices and grocery staples under the brand "Shyam."
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Q4: What is the IPO size and type?
The IPO size is ₹38.49 crores, entirely a fresh issue to raise growth capital.
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Q5: What is the lot size and minimum investment?
The lot size is 2,000 shares, with a minimum investment by an individual is ₹2,80,000.
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Q6: How will proceeds be utilized?
Proceeds will fund infrastructure expansion, debt repayment, working capital and general corporate purposes to support operational scaling.
