Shyam Dhani Industries Rakes In ₹10.9 Crore From Anchors Ahead Of ₹38.49 Crore IPO
Jaipur-based spices manufacturer Shyam Dhani Industries has raised Rs 10.9 crore from seven anchor investors, including SIDBI, at Rs 70 per share. Its Rs 38.49 crore fully fresh IPO (54.98 lakh shares, price band Rs 65-70) opens December 22 and closes December 24, with listing on NSE Emerge on December 30. Proceeds will fund working capital, debt repayment, machinery, solar plant, and branding.
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New Delhi: Shyam Dhani Industries, an manufacturer of spices, on Sunday said it has raised Rs 10.9 crore from anchor investors ahead of its initial share sale, which will open for subscription on December 22. The Jaipur-based company has allocated 15.60 lakh equity shares at an anchor investor price of Rs 70 per share to seven entities, including Small Industries Development Bank of India, Rajasthan Global Securities Pvt Ltd, Saint Capital Fund, and SB Opportunities Fund II, the company said in a statement.
The Rs 38.49-crore initial public offering (IPO) will conclude on December 24 and the company's shares are proposed to be listed on the NSE Emerge platform with a tentative listing date fixed on December 30, it added. The IPO is entirely a fresh issue of up to 54.98 lakh equity shares. It has fixed a price band at Rs 65-70 per share.
The net proceeds from the IPO will be used for funding the incremental working capital requirements, repayment of debt, brand creation and marketing expenses, and funds will also be used for purchase of new additional machinery to be installed at the existing manufacturing unit. A portion of proceeds will also be used for purchase and installation of a solar rooftop plant at the existing manufacturing unit and general corporate purposes.
"The proceeds will be utilised to enhance working capital, strengthen brand visibility, upgrade machinery at our existing manufacturing unit, and invest in a solar rooftop system. "These initiatives will improve operational efficiency, expand capacity, and support sustainable value creation as we scale our presence across India and international markets," Ramawtar Agarwal, Chairman & MD of Shyam Dhani Industries Ltd, said.
Shyam Dhani Industries Ltd is engaged in manufacturing and processing 160+ varieties of spices under the brand "SHYAM". Holani Consultants Pvt Ltd is the sole book-running lead manager for the IPO.
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