Jaipur-based masala maker Shyam Dhani Industries’ IPO on NSE’s SME platform Emerge was subscribed a staggering 918 times, raising over Rs 25,300 crore. This makes it the fifth most subscribed SME IPO in India and the most subscribed in 2025. The funds will be used for working capital, loan repayment, marketing, and capital expenditure.
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