New Delhi, Dec 24, 2025 — India’s IPO market remained firmly in the spotlight on Wednesday, with SME listings drawing extraordinary investor interest and large-ticket public issues moving a step closer to launch.
🔥 Shyam Dhani Industries IPO Steals the Show
The IPO of spices maker Shyam Dhani Industries emerged as one of the most talked-about offerings of the week.
The issue attracted over 240x subscription by Day 2, according to market data.
Grey Market Premium (GMP) trends indicate a potential listing pop of 70–75%, keeping retail investors highly engaged.
Strong demand has been driven by robust subscription in the retail and HNI segments, along with positive sentiment around SME IPOs.
Market participants say the subscription numbers reflect continued risk appetite in smaller listings, despite broader market consolidation.
🚆 Dhar Rail Projects IPO Opens
Another SME issue, Dhara Rail Projects IPO, also opened for subscription on December 23.
The company aims to raise around ₹50 crore through fresh equity.
Investors are closely tracking subscription trends and GMP before the issue closes later this week.
🏨 OYO Parent PRISM Clears Major IPO Hurdle
In a key development in the mainboard IPO space:
PRISM, the parent entity of OYO, has received shareholder approval to raise up to ₹6,650 crore (about $742 million) via an IPO.
The clearance marks a significant step toward one of the most anticipated public listings in India.
The issue is expected to include a mix of fresh shares and possibly an offer-for-sale, subject to regulatory approvals.
📊 India IPO Market Momentum
Recent reports suggest India’s IPO pipeline remains strong:
Rising listings are helping private equity and venture capital firms accelerate exits
Strong retail participation continues to underpin demand, especially in SME offerings
Market takeaway: With SME IPOs witnessing outsized subscriptions and marquee names like OYO moving closer to listing, the IPO market remains a key area of action for investors in the year-end trading window.
