Shyam Dhani Industries Spices Up with Rs 10.9 Crore Raised Ahead of IPO

Shyam Dhani Industries has raised Rs 10.9 crore from anchor investors before its IPO, opening on December 22. The Jaipur-based spice manufacturer plans to use the proceeds for working capital, debt repayment, brand building, machinery upgrades, and installing a solar rooftop plant. The IPO will close on December 24.

Shyam Dhani Industries, a prominent manufacturer of spices, announced on Sunday that it secured Rs 10.9 crore from anchor investors ahead of its IPO, which is set to open on December 22.

The company, based in Jaipur, has allocated 15.60 lakh equity shares at an anchor price of Rs 70 each to seven investors, including SIDBI and Rajasthan Global Securities, according to a company statement.

The IPO, valued at Rs 38.49 crore, is a fresh issue of up to 54.98 lakh equity shares, priced between Rs 65-70 per share, and is expected to support various initiatives, including operational upgrades and market expansion.

(With inputs from agencies.)