Shyam Dhani Industries IPO Lists at 90% Premium on NSE SME After Massive Subscription

Shares of Shyam Dhani Industries Ltd made an impressive debut on the NSE SME platform on December 30, 2025. The stock listed at ₹133 per share, delivering a 90% premium over the IPO issue price of ₹70.

The strong opening was in line with NSE SME rules, which cap listing gains at 90% above the issue price.

IPO Size and Structure

The IPO consisted entirely of a fresh issue of 55 lakh shares, raising ₹38.49 crore. There was no offer for sale (OFS).

• Price band: ₹65–₹70 per share
• Issue price: ₹70 per share
• Lot size: 2,000 shares
• Issue dates: December 22–24, 2025
• Allotment date: December 26, 2025

Record-Breaking Subscription Numbers

The IPO saw exceptional demand across all investor categories.

• Overall subscription: 988.29 times
• Non-institutional investors (NIIs): 1,612.65 times
• Retail investors: 1,137.92 times
• Qualified institutional buyers (QIBs): 265.24 times

This made it one of the most heavily subscribed SME IPOs of 2025.

Also Read: Upcoming IPO: SEBI Approved DRHP of 4 Companies, Including Shivalaya Construction and Varmora Granito

Use of IPO Proceeds

Shyam Dhani Industries plans to use the IPO funds for business growth and strengthening operations:

• ₹13.26 crore: Working capital needs
• ₹10 crore: Repayment or prepayment of debt
• ₹6.35 crore: Brand building and marketing
• ₹1.63 crore: Purchase of new machinery
• ₹6.49 crore: Solar rooftop plant at the existing manufacturing unit
• Remaining funds: General corporate purposes

(As per the Red Herring Prospectus)

Key IPO Intermediaries

• Registrar: Bigshare Services
• Lead Manager: Holani Consultants

Conclusion

Shyam Dhani Industries’ strong listing highlights the growing investor appetite for SME IPOs with solid fundamentals. The near-1,000x subscription and 90% listing gain reflect high confidence in the company’s growth plans and future potential.

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