Shyam Dhani Industries Limited
Bookbuilding IPO · NSE
- Price band
- ₹65 - ₹70
- Lot size
- 2,000 shares
- Issue amount
- ₹38.49 cr
- Total subscription
- 988.4×
- Opens
- 22 Dec 2025
- Closes
- 24 Dec 2025
- Allotment
- 26 Dec 2025
- Listing
- 30 Dec 2025
Offer at a glance
Issue overview
- Issue size
- 54,98,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,30,000
- Fresh issue
- ₹38.49 cr
- Offer for sale
- ₹0 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,40,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,51,58,000
- Shares after issue
- 2,06,56,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 4,000 | ₹2,80,000 |
| sHNI | 3 | 6,000 | ₹4,20,000 |
| bHNI | 8 | 16,000 | ₹11,20,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 24 Dec 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 168 |
| NIB | 0 | 1,01,888 |
| RETAIL | 457 | 5,20,041 |
| HNIs(10L +) | 87 | 56,932 |
| HNIs (2-10L) | 44 | 44,956 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 7.31 | 1,872.61 |
| FIIs | 0 | 427.28 |
| FIs | 0 | 188.06 |
| Mutual Funds | 0 | 23.67 |
| Others | 0 | 1,233.6 |
| RETAIL | 12.8 | 14,561.15 |
| NIB | 5.5 | 8,875.15 |
| HNIs 2+ | 1.83 | 2,089 |
| HNIs 10+ | 3.67 | 6,786.15 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 2.82 | 5.41 | 4.24 | 1.97 |
| ROE | 16.34 | 41.06 | 50.78 | 37.49 |
| ROCE | 19.53 | 39 | 46.16 | 39.69 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 13.19 | 0 | 0 |
| POST IPO(PE) | 17.21 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Shyam Dhani Industries Limited | 12.95 | 0 | 10.00 | 15.87 | 34.07 | 5.41 |
| Madhusudan Masala Limited | 13.56 | 0 | 10.00 | 63.1 | 12.77 | 8.49 |
| Nhc Foods Ltd | 3.06 | 0 | 1.00 | 1.39 | 8.09 | 0.31 |
Company information
Company profile
Shyam Dhani Industries Limited, incorporated in 1995, is an ISO-certified company engaged in the manufacturing, trading, exporting, and supply of premium spices, spice powders, whole spices, and grocery products under its brand name “SHYAM.” The company processes around 163 varieties of ground, blended, and whole spices, along with grocery items such as black salt, rock salt, rice, poha, kasuri methi, and a wide range of herbs and seasonings including oregano, peri peri, chilli flakes, mixed herbs, onion flakes, and tomato powder. Its manufacturing unit is located in Jaipur, Rajasthan, and its products are sold through general trade, modern retail chains, quick commerce platforms, private labeling, HoReCa, and export channels. As of November 30, 2025, the company employed 394 people across various departments including production, quality, marketing, logistics, and management.
Strengths
- Experienced and Skilled Management Team – Led by seasoned professionals with strong industry knowledge, helping the company adapt to customer needs and drive consistent growth.
- Wide and Diversified Product Portfolio – Offers a broad selection of ground, blended, and whole spices, along with grocery items, tailored to Indian consumer tastes.
- Strong Customer Network and Efficient Distribution – Over a decade of industry presence has built long-term customer relationships, supported by an in-house sales team and a wide network of 432 wholesalers and distributors.
Risk factors
- Seasonal Dependence on Agricultural Raw Materials – Reliance on crops makes the business vulnerable to weather changes and weak monsoons, which can increase raw material costs or reduce quality, affecting margins and cash flow.
- Risk From Semi-Perishable Inventory and Forecasting – Products with 4–18 months shelf life require accurate demand planning; poor forecasting can lead to excess stock, spoilage, and operational losses.
- Exposure to Legal Proceedings – Ongoing cases involving the Company, its Group entities, Promoters, and Directors may result in penalties or reputational damage, impacting financial and operational performance.
Promoters
Mr. Ramawtar Agarwal
Mrs. Mamta Devi Agarwal
Mr. Vithal Agarwal
Registrar & documents
Lead manager
Holani Consultants Private Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
F-438-A Road No. 12, VKIA Jaipur, Rajasthan, 302013
+91 9257061811
[email protected]Company website ↗Understanding SHYAMDHANI IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.