Spice St: Jaipur masala company’s 39 crore IPO gets 25k crore bids
MUMBAI: The IPO by Shyam Dhani Industries, a masala maker from Jaipur that was eyeing to raise Rs 38.5 crore from NSE’s SME platform Emerge, saw its offer subscribed an eye-popping 918 times, giving it a book size of a little over Rs 25,300 crore (except the anchor part). In the IPO, the company offered to sell nearly 55 lakh shares while the total demand at close of bidding was for 361.6 crore shares, data from NSE showed.At a subscription level of 918 times, Shyam Dhani IPO is now the fifth most subscribed SME IPO ever in India and the most subscribed one in 2025, data from public offer analytics company Chittorgarh.com showed.According to Shyam Dhani’s IPO details on NSE, the offer opened on Dec 22 and closed on Wednesday. It was offered at a per-share price of Rs 65 to Rs 70. Of the nearly 55 lakh shares on offer, 15.6 lakh shares were offered through the anchor investor route, which was subscribed 70 times with the total demand at approximately 11 crore shares.The amount raised from the IPO would be used for funding the incremental working capital requirements of the company, repayment of certain outstanding loans, brand creation and marketing expenses, capital expenditure, purchase, and installation of a solar rooftop plant at its manufacturing unit, the company said in the offer document. Shyam Dhani Industries makes more than 160 varieties of spices.
