Shyam Dhani Industries IPO Soars 241x on Day 2, GMP Jumps to 88%

• Shyam Dhani Industries' IPO received an overwhelming 241x subscription on its second day of bidding, December 23.
• The Grey Market Premium (GMP) for the IPO shares surged to 88%, up from 65% previously, indicating strong investor confidence.
• Non-institutional and retail investors led the subscription, bidding 372.82 times and 352.8 times their allotted quotas, respectively.
• The Rajasthan-based spices maker aims to raise Rs 38.48 crore through a fresh issue of 54.98 lakh shares at Rs 65-70 per share.
• Proceeds will fund working capital, debt repayment, brand building, new machinery, and a solar rooftop plant.

Why It Matters: Shyam Dhani Industries IPO saw massive oversubscription and a significant GMP jump, reflecting high investor demand.