Shyam Dhani Industries was incorporated on October 19, 2010. The company manufactures and processes 164 varieties of spices under the “SHYAM” brand and also trades grocery items like salts, rice, poha, and kasuri methi. It additionally offers a wide range of herbs and seasonings, including oregano, peri peri, chilli flakes, mixed herbs, and more
| Bidding Dates |
|---|
| 22 Dec 2025 - 24 Dec 2025 |
| Subscription |
|---|
| 918.12x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,60,000 | 2 | 2 | 2000 | 5.5 M | ₹65 - ₹70 | 72 % | ₹357.4 M - ₹384.9 M | RHP DOC |
Shyam Dhani Industries IPO SUBSCRIPTION STATUS
24 Dec '25Shyam Dhani Industries IPO overall subscription rate was 918.12 times the total available shares
Shyam Dhani Industries IPO retail subscription rate was 1509.22 times in the retail segment
Shyam Dhani Industries IPO non-institutional investor subscription rate was 2146.4 times in the non-institutional investor category
Shyam Dhani Industries IPO Qualified Institutional Bidder subscription rate was 135.86 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
24 Dec 2025 (Day 3) | 1509.22x | 2146.4x | 135.86x |
23 Dec 2025 (Day 2) | 467.91x | 496.1x | 5.67x |
22 Dec 2025 (Day 1) | 116.54x | 101.94x | 5.53x |
Shyam Dhani Industries FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| H1FY26 | 63.8 | 4.2 | 1.5 | 0.7 | 13.6% |
| FY25 | 124.7 | 8.0 | -6.2 | -20.0 | 11.7% |
| FY24 | 107.6 | 6.3 | -5.4 | -9.8 | 10.1% |
| FY23 | 68.0 | 2.9 | 3.0 | 0.5 | 8.8% |
Shyam Dhani Industries IPO SUBSCRIPTION STATUS DETAILS
Shyam Dhani Industries had 5.5 M shares on offer
Shyam Dhani Industries IPO offer price was in the range ₹65 - ₹70
Shyam Dhani Industries IPO minimum Investment was ₹260000
Shyam Dhani Industries IPO issue size was ₹ 357.4 M - ₹ 384.9 M
Shyam Dhani Industries had a minimum lot size of 2000 Shares per application
Shyam Dhani Industries NUMBER OF SHARES ON OFFER
Shyam Dhani Industries IPO IMPORTANT DATES
| Issue Open Date | 22 Dec 2025 |
| Issue close Date | 24 Dec 2025 |
| Allotment Date | 26 Dec 2025 |
| Refund Date | 29 Dec 2025 |
| Demat Account Credit Date | 29 Dec 2025 |
| Listing Date | 30 Dec 2025 |
| Listing on Exchange(s) | NSE |
| Shyam Dhani Industries Allotment Status | Exchange/ Registrar |
Shyam Dhani Industries IPO subscription opened on 22 Dec 2025, and closed on 24 Dec 2025
IPO allotment for Shyam Dhani Industries was finalized on Friday, 26 Dec 2025
IPO listing for Shyam Dhani Industries was on NSE on Tuesday, 30 Dec 2025
Shyam Dhani Industries IPO LISTING GAINS
| Issue Price (adjusted) | 70.0 |
| Listing Open Price | 133.0 |
| Listing Close Price | 139.7 |
| Listing Gain% | 90.0% |
| Current Gain% | -9.3% |
Shyam Dhani Industries Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shyam Dhani Industries Ltd. | 63.5 | 131.2 | 15.4 | 2.5 | 0.9 | 12.4 | 7.2 | 146.2 | 17.2 | 8.5 | 6.2 | 4.1 | 6.2 |
| Varun Beverages Ltd. | 442 | 149504.9 | 44.2 | 2.3 | 6.2 | 15.5 | 11.9 | 22037.7 | 9.5 | 3036.5 | 17 | 10 | 18.9 |
| EID Parry (India) Ltd. | 805.1 | 14327.2 | 25.2 | -0.7 | 0.4 | 6.5 | 1.9 | 38883.4 | 21.6 | 569.5 | -35.2 | 32 | -35.2 |
| Avanti Feeds Ltd. | 906.6 | 12351.3 | 20.4 | 1.4 | 2 | 18.4 | 14.2 | 6276.5 | 8.6 | 606.1 | 14.6 | 44.5 | 14.6 |
| Manorama Industries Ltd. | 1636.2 | 10328.1 | 48.1 | 0.2 | 7.6 | 32 | 18.1 | 1377.1 | 73.9 | 214.9 | 95.8 | 34.1 | 204.8 |
| Sanstar Ltd. | 113.4 | 2066.8 | 60 | -2.8 | 2.6 | 5 | 4.3 | 796.4 | -18 | 34.4 | -21.3 | 1.9 | -21.3 |
Shyam Dhani Industries INFORMATION ON IPO ISSUE
About Shyam Dhani Industries
Shyam Dhani Industries was incorporated on October 19, 2010. The company manufactures and processes 164 varieties of spices under the “SHYAM” brand and also trades grocery items like salts, rice, poha, and kasuri methi. It additionally offers a wide range of herbs and seasonings, including oregano, peri peri, chilli flakes, mixed herbs, and more
Object of the Issue
- Funding the incremental working capital requirements of the company
- Repayment/Pre-Payment, in full or in part, of certain outstanding borrowings availed by the company
- Brand creation and marketing expenses
- Capital expenditure towards the purchase of new additional machineries to be installed at the existing manufacturing unit
- Purchase and installation of Solar Rooftop Plant at the existing manufacturing unit
- General corporate purposes
Shyam Dhani Industries - PROMOTERS
| Name |
|---|
| Ramawtar Agarwal |
| Mamta Devi Agarwal |
| Vithal Agarwal |
Shyam Dhani Industries - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Ramawtar Agarwal | Chairman & Managing Director |
| Mamta Devi Agarwal | Whole Time Director |
| Vithal Agarwal | Whole Time Director |
| Kanhiya Lal Sharma | Non-Executive Director |
| Banwari Lal Gupta | Independent Director |
| Birdi Mal Dasot | Independent Director |
Shyam Dhani Industries Book Running Lead Manager
Holani Consultants Private Limited
ipo@holaniconsultants.co.in
Shyam Dhani Industries Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Shyam Dhani Industries Strengths
Integrated pest management
The company focuses on delivering high-quality natural spices while promoting sustainable and ethical sourcing and production. A key challenge is the excessive use of chemical pesticides by farmers, which can leave harmful residues and damage health and the environment
Diversified product portfolio
The company’s understanding of consumer tastes supports its product development, enabling a wide portfolio of spices and related products. Its range includes ground spices, blended spices, whole spices, and grocery items such as salts, rice poha, kasuri methi, sabudana, soyavadi, moong mangodi, and mishri dana
Efficient supply chain management
The company has spent over a decade manufacturing and processing spices, earning long-term customer relationships through consistent quality and understanding of Indian taste preferences. Its strong product reputation, ability to meet specific flavour needs, and an active in-house sales team help maintain and grow its distribution network
Shyam Dhani Industries Risks
Semi perishable products
The company’s products are semi-perishable, with shelf lives ranging from 4 to 18 months, varying across ground spices, whole spices, blends, and grocery items. Any incorrect demand forecasting or poor inventory management could lead to excess stock and wastage, adversely affecting its business and financial performance
Competition
The company operates in a highly competitive, fragmented market where several organized and unorganized players have larger scale and resources. Increasing competition from established brands and new entrants may lead to loss of market share, revenue pressure, and reduced profitability
Health & safety risks
The company’s operations are governed by strict health, safety, and environmental regulations, and any non-compliance could lead to fines, penalties, or operational disruptions. It must also continually renew and maintain statutory permits, and failure to do so could adversely affect its business and financial performance
IPO FAQs
The promoters of the company are Ramawtar Agarwal, Mamta Devi Agarwal and Vithal Agarwal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 65.0 - 70.0.
The IPO application opens on Dec 22, 2025 and closes on Dec 24, 2025.
The minimum lot size for the IPO is 4000. The maximum lot size for the IPO is 4000.
For all category investors, the minimum application amount for this IPO is Rs. 260,000.0, the maximum value for this IPO is Rs 280,000.0.
This IPO will be allotted on Dec 26, 2025.
The refund will be credited to your account on Dec 29, 2025.
The allotted shares will be credited to your demat on Dec 29, 2025.
Shyam Dhani Industries Ltd.’s shares listed on the stock exchanges on Dec 30, 2025.