Jaipur-based Shyam Dhani Industries’ ₹38.5 crore SME IPO received bids worth ₹25,300 crore, making it the most subscribed SME issue of 2025.
The three-day offer, priced at ₹65–70 per share, drew around 6.22 lakh applications. Anchor investors oversubscribed their portion 70 times.
The company, known for its “SHYAM” spice brand, aims to use the proceeds for working capital, loan repayment, marketing, and solar rooftop installation.
Share allotment will be finalised on December 26, with listing expected on December 30. Strong retail and institutional demand signals robust investor confidence in SMEs.