Shyam Dhani IPO closes with over 918x subscription, GMP at 100%

Shyam Dhani Industries' ₹38.48-crore SME IPO, which entered its final bidding day on December 24, closed with 918.12 times subscription. Investors bid for 361.55 crore equity shares over the three-day period from December 22, against an offer size of 39.38 lakh shares. The grey market premium (GMP) was at 100% over the upper end of the price band of ₹70.