Shyam Dhani IPO Soars 918x, GMP Hits 100% Ahead of Listing

• Shyam Dhani Industries IPO closed with an astounding 918.12 times subscription on December 24, attracting bids worth Rs 25,308.9 crore.
• The grey market premium (GMP) for Shyam Dhani surged to a 100% premium over its issue price, indicating strong investor confidence.
• Non-institutional investors (NIIs) and retail investors oversubscribed their quotas by 1,613x and 1,138x respectively, while QIBs subscribed 256.2x.
• The Rs 38.48 crore IPO proceeds will fund working capital, brand building, new machinery, a solar plant, and debt reduction.
• Other IPOs like Sundrex Oil Company, EPW India, and Dachepalli Publishers also closed successfully, with allotments by December 26 and listing on December 30.

Why It Matters: Shyam Dhani IPO sees unprecedented demand, with 918x subscription and 100% GMP, signaling strong market debut.