Shyam Dhani Industries IPO
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Shyam Dhani Industries IPO details
Schedule of Shyam Dhani Industries
| Issue open date | 22 Dec 2025 |
| Issue close date | 24 Dec 2025 |
| UPI mandate deadline | 24 Dec 2025 (5 PM) |
| Allotment finalization | 26 Dec 2025 |
| Refund initiation | 29 Dec 2025 |
| Share credit | 29 Dec 2025 |
| Listing date | 30 Dec 2025 |
| Mandate end date | 09 Jan 2026 |
| Lock-in end date for anchor investors (50%) | 25 Jan 2026 |
| Lock-in end date for anchor investors (remaining) | 26 Mar 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Shyam Dhani Industries
Shyam Dhani Industries Limited, founded in 2010 and converted into a public company in 2024, is a Jaipur-based manufacturer and processor of 164 varieties of spices marketed under the “SHYAM” brand. Promoted by Mr Ramawtar Agarwal, Mrs Mamta Devi Agarwal, and Mr Vithal Agarwal, the company also trades grocery items such as salts, rice, poha, and a range of herbs and seasonings. Its business model centers on in-house manufacturing, broad product diversity, and a distribution network serving both retail and wholesale markets. Raw materials are sourced from mandis and suppliers across India, supported by select group-entity procurement. With a growing operational scale and planned investments in new machinery and solar infrastructure, the company leverages its established brand, experienced promoters, and extensive product portfolio to strengthen its presence in the FMCG spice segment.
Financials of Shyam Dhani Industries
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Total issue size | 38.49 |
| Fresh Issue – Proceeds go to the company | 38.49 |
Utilisation of Proceeds
| Purpose | INR crores (%) |
|---|---|
| Funding incremental working capital | 13.26 (34.47%) |
| Repayment / pre-payment of certain borrowings | 10 (25.99%) |
| Brand creation and marketing expenses | 6.36 (16.51%) |
| Purchase of new machinery | 1.63 (4.24%) |
| Solar rooftop installation | 0.65 (1.69%) |
| General corporate purposes | 6.59 (17.13%) |
Strengths
- Integrated Pest Management (IPM) improves product quality and supports sustainable sourcing.
- Experienced promoters and skilled workforce strengthen operations and strategic execution.
- Established manufacturing unit enables end-to-end, cost-efficient production under one roof.
- Broad product portfolio across ground, blended, and whole spices enhances market reach.
- Diverse sales channels include modern trade, quick commerce, exports, and wholesale networks.
Risks
- Heavy dependence on a limited number of suppliers increases supply-side vulnerability.
- Ongoing litigations, including trademark disputes, may impact operations and reputation.
- Past quality-control failures and FSSAI penalties pose compliance and brand-risk concerns.
- Negative cash flows in recent years indicate potential liquidity and operational risks.
- Highly competitive, fragmented spice market pressures pricing, margins, and market share.