Shyam Dhani IPO Soars 59x on Day 1, GMP Jumps Over 65%

• Shyam Dhani Industries IPO oversubscribed 58.84 times on its first day of bidding (December 22).
• The IPO shares attracted a grey market premium (GMP) of over 65%, indicating strong investor interest.
• The company aims to raise Rs 38 crore through the IPO, with funds allocated for working capital, debt repayment, and expansion.
• Other IPOs like Sundrex Oil Company, EPW India, and Dachepalli Publishers were undersubscribed.
• Shyam Dhani Industries manufactures 164 types of spices under the SHYAM brand and trades in grocery products.

Why It Matters: Shyam Dhani Industries IPO saw massive demand and high GMP, while others struggled.