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Record demand propels Jaipur-based spice maker into SME IPO spotlight
Shyam Dhani Industries’ SME IPO saw 918-times subscription, emerging as 2025’s most subscribed issue, driven by strong retail demand and plans for expansion and debt reduction.
Investor appetite for SME offerings surged as the IPO of witnessed extraordinary demand on NSE’s Emerge platform. The issue was subscribed 918 times, translating into bids worth over ₹25,300 crore against an offer size of ₹38.5 crore. Nearly 55 lakh shares were offered, while bids were received for about 361.6 crore shares, according to NSE data. Priced in the ₹65–70 range, the IPO became the most subscribed SME issue of 2025. Proceeds will be used for working capital, debt repayment, marketing, capital expenditure, and installing a solar rooftop plant at its manufacturing facility.