Shyam Dhani Industries, a maker and processor of spices, plans to raise ₹38 crore through an initial public offering on NSE Emerge.
The company will issue 54.98 lakh equity shares in the price band of ₹65-₹70 a share. The issue opens for the retail segment on Monday.
The net proceeds from the IPO will be used to fund incremental working capital requirements, repay debt partially, for brand creation and marketing expenses. It also plans to purchase additional machineries and solar rooftop plants for the existing manufacturing unit.
The company has purchased land in Madhya Pradesh and plans to start production soon.
Holani Consultants is the lead manager to the issue, while Bigshare Services is the Registrar.
Ramawtar Agarwal, Chairman and Managing Director, Shyam Dhani Industries, said the company has evolved into a diversified food processing unit over the years, delivering varieties of spices under their flagship brand ‘Shyam’, along with a wide portfolio of groceries, herbs and seasonings tailored to India’s dynamic culinary preferences.
The deployment of IPO proceeds will improve operational efficiency, expand capacity and support sustainable value creation as the company scales its presence across India and international markets, he said.
Ashok Holani, Director, Holani Consultants, said with a robust portfolio and an expanding range of groceries, herbs and seasonings, the company is well-positioned to leverage evolving consumer preferences and the rising demand for trusted home-grown brands.
The IPO will further enhance the company’s market position and support its ambition to grow across India and in emerging global markets, he added.