Holani Consultants Scripts History with 918x Subscribed SME IPO

Mumbai (Maharashtra) [India], December 25: Holani Consultants Private Limited has etched its name into India’s capital market history by structuring and executing the most subscribed SME Initial Public Offering (IPO) ever. The SME IPO of Shyam Dhani Industries Limited, managed by Holani Consultants, witnessed an extraordinary investor response, garnering bids worth over ₹25,308 crore and achieving a record-breaking 918.09 times oversubscription.

This landmark transaction marks a defining moment for India’s SME capital markets and reinforces Holani Consultants’ position as one of the most impactful merchant bankers in the SME ecosystem. The scale of participation reflects strong investor confidence in the issue structure, pricing strategy, and execution capability delivered by the firm.

Merchant Banking Excellence in Action

As the merchant banker on the issue, Holani Consultants played a pivotal role in structuring the IPO, positioning it effectively in the market, and driving widespread investor participation across categories. The unprecedented demand highlights the firm’s ability to create compelling investment propositions and execute complex capital market transactions with precision.

Commenting on the achievement, Ashok Holani, Director of Holani Consultants Private Limited, said:

“This unprecedented response underscores our commitment to excellence in SME capital market transactions and the trust that investors place in our structuring capabilities. We are grateful to all investors, intermediaries, and stakeholders whose collective confidence in our execution made this historic success possible.”

Strong Anchor Investor Participation

The IPO also saw robust anchor investor participation, with several prominent institutions backing the issue, including:

• Small Industries Development Bank of India (SIDBI)

• Rajasthan Global Securities Private Limited

• SB Opportunities Fund

• Saint Capital Fund

• Meru Investment Fund PCC

• Mint Focused Growth Fund PCC

• Holani Venture Capital Fund

The participation of these institutions further strengthened investor confidence and added credibility to the issue.

Subscription Highlights (Excluding Anchor Portion)

• Qualified Institutional Buyers (QIB): 256.24 times

• Non-Institutional Investors (NII): 1,612.65 times

• Retail Individual Investors: 1,137.92 times

Total Oversubscription: 918.09 times
Total Bids Received: ₹25,308.16 crore

This overwhelming response underscores the depth of demand for well-structured SME offerings and the growing appetite among investors for quality SME opportunities.

A Defining Moment for SME Capital Markets

This record-breaking IPO represents not just a milestone for Holani Consultants but also a significant moment for India’s SME capital markets. It demonstrates the increasing maturity of the SME segment and the critical role of capable merchant bankers in unlocking investor participation at scale.

To date, Holani Consultants has successfully supported 21 companies in their fundraising journeys, raising over ₹1,500 crore through equity markets. The firm’s track record includes:

• 2 Mainboard IPOs

• 16 SME IPOs listed on BSE and NSE SME platforms

• 2 Private Placements

• 1 Rights Issue

About Holani Consultants

Holani Consultants Private Limited is a SEBI-registered Category I Merchant Banker headquartered in Jaipur. Licensed in 2018, the firm specialises in SME IPO structuring and execution, valuations, and a wide range of corporate action advisory services. With a consistent record of successful transactions, Holani Consultants has established itself as a trusted advisor in India’s evolving capital markets landscape.

For more information, visit: https://www.holaniconsultants.co.in/

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.