Shyam Dhani Industries IPO – Complete Details, Financials, Strengths, Risks & FAQs
The Shyam Dhani Industries IPO is an upcoming SME IPO by Shyam Dhani Industries Limited, a company engaged in the manufacturing and processing of spices and grocery products under the well-known “SHYAM” brand. The IPO is aimed at raising funds to support business growth, working capital requirements, and general corporate purposes.
Being an SME IPO, it carries both growth potential and higher risk, making it important for investors to thoroughly understand the company’s fundamentals before investing.
About Shyam Dhani Industries Limited
Shyam Dhani Industries Limited is involved in the manufacturing, processing, blending, and packaging of spices and grocery products. The company offers a wide range of products including ground spices, blended spices, whole spices, and grocery items such as black salt and rock salt.
Key Business Highlights:
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Operates under the “SHYAM” brand
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In-house manufacturing facility with integrated operations
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Controls the entire value chain from sourcing to packaging
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Supplies products in multiple packaging sizes to cater to varied customer needs
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Strong distribution network of wholesalers and distributors
Company Profile:
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Founded: 2010
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MD & CEO: Mr. Ramavatar Agarwal
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Parent Organization: Shyam Dhani Industries Ltd
The company has built its business over more than a decade and focuses on quality control, cost efficiency, and consistent supply.
Shyam Dhani Industries IPO Details
| Particulars | Details |
|---|---|
| IPO Opening Date | 22 December 2025 |
| IPO Closing Date | 24 December 2025 |
| Tentative Allotment Date | 26 December 2025 |
| Tentative Listing Date | 30 December 2025 |
| Issue Size | ₹38.49 Crore |
| Price Band | ₹65 – ₹70 per share |
| Face Value | ₹10 per share |
| Lot Size | 2,000 shares |
| Minimum Investment | ₹2,60,000 |
| Issue Type | SME IPO |
| Listing Platform | NSE SME |
| Registrar | Bigshare Services |
IPO Application Details
For Individual Investors:
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Price Band: ₹65 – ₹70
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Lot Size: 2,000 shares
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Minimum Order Quantity: 2 lots (4,000 shares)
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Minimum Investment Amount: ₹2.60 lakh (approx.)
Eligible investors can apply only under the Individual Investor category, as per SME IPO norms.
Shyam Dhani Industries Financial Performance
(All figures are in ₹ Crore)
Revenue Growth:
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FY 2023: ₹87.85
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FY 2024: ₹108.00
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FY 2025: ₹175.00
The company has shown strong and consistent growth in revenue, indicating increased market penetration and expanding distribution reach.
Profit Performance:
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FY 2023: ₹5.22
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FY 2024: ₹6.30
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FY 2025: ₹8.04
The steady rise in profits reflects improved operational efficiency and margin management.
Strengths of Shyam Dhani Industries IPO
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Integrated Manufacturing Operations
The company operates a fully integrated manufacturing facility, giving it better control over quality, costs, and supply chain efficiency. -
Strong Brand Presence
Products sold under the “SHYAM” brand enjoy customer recognition in multiple markets, supporting repeat business. -
Wide Product Portfolio
Offers ground spices, blended spices, whole spices, and grocery products, reducing dependency on a single product category. -
Growing Distribution Network
As of FY25, the company had a network of 432 wholesalers and distributors, supported by in-house sales and marketing teams. -
Consistent Financial Growth
Revenue and profit have increased steadily over the last three financial years, indicating business stability. -
Focus on Quality & Sustainability
Adoption of Integrated Pest Management (IPM) helps reduce chemical pesticide usage and supports sustainable sourcing.
Risks and Concerns of the IPO
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Dependence on Raw Material Prices
Fluctuations in spice and agricultural raw material prices may negatively impact margins. -
Seasonal Procurement Risk
Most raw materials are procured during harvest seasons, increasing reliance on storage and price stability. -
High Working Capital Requirements
A large portion of funds is tied up in inventory and receivables, which may impact liquidity. -
Customer Concentration Risk
A significant portion of revenue comes from a limited number of distributors. -
Negative Operating Cash Flow
The company reported negative cash flow from operating activities in certain periods, which may affect financial stability. -
SME IPO Volatility
SME IPOs generally have lower liquidity and higher price volatility compared to mainboard IPOs. -
Legal Proceedings
The company and its promoters are involved in certain legal matters, which could impact operations if adverse outcomes occur. -
Outstanding Financial Indebtedness
As of November 30, 2025, the company had outstanding financial borrowings, and failure to service these could impact business operations.
Key IPO FAQs
What is the issue size of Shyam Dhani Industries IPO?
The IPO issue size is ₹38.49 crore.
What are the IPO opening and closing dates?
The IPO opens on 22 December 2025 and closes on 24 December 2025.
What is the price band of the IPO?
The price band is ₹65 – ₹70 per share.
What is the lot size and minimum order quantity?
The lot size is 2,000 shares, and the minimum order quantity is 4,000 shares.
When is the allotment date?
The tentative allotment date is 26 December 2025.
Where will the IPO be listed?
The IPO will be listed on NSE SME.
Who is the registrar of the IPO?
The registrar is Bigshare Services.
Conclusion
The Shyam Dhani Industries IPO offers exposure to the fast-moving consumer goods (FMCG) and spices sector, supported by consistent revenue growth and an established brand. However, being an SME IPO, it carries higher risks such as lower liquidity, working capital pressure, and raw material price volatility.
This IPO may be suitable for experienced investors with higher risk appetite and a medium-to-long-term investment horizon.
Disclaimer
This article is intended for informational and educational purposes only and does not constitute investment advice. SME IPO investments are subject to high risk and market volatility. Investors should carefully read the Red Herring Prospectus (RHP) and consult a SEBI-registered financial advisor before making any investment decision. The author and publisher are not responsible for any financial losses incurred based on this information.
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