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Sanathan Textiles IPO Allotment Status: The GMP is subject to sentiments in the market and may change.
Sanathan Textiles IPO Allotment: A Step-By-Step Guide To Check Allotment Status Online
Sanathan Textiles IPO Allotment Date, Latest GMP: The initial public offering (IPO) of yarn manufacturer Sanathan Textiles Ltd. concluded on Monday, December 23. The price band for the IPO was set at Rs 305 to Rs 321 per share. By the end of the third and final day of bidding, the IPO had received bids for 44,26,24,834 shares compared to the 1,19,93,770 shares on offer, achieving an overall subscription rate of 36.9 times.
The retail category saw a 9.31-times subscription, while the non-institutional investors (NII) category recorded a 44.39-times subscription. Meanwhile, the qualified institutional buyers (QIB) category witnessed an impressive 79.59-times subscription.
Sanathan Textiles IPO GMP Today
The grey market premium for Sanathan Textiles IPO stood at Rs 90 as of December 24, indicating a potential listing gain of over 28.04%. This suggests a debut price of Rs 411 per share at the upper end of the price band.
The GMP is subject to sentiments in the market and may change.
Sanathan Textiles IPO: Key Dates
- Closing Date: December 23 (Monday)
- Allotment Finalisation: December 24
- Listing on BSE and NSE: December 27 (Friday)
Sanathan Textiles IPO: More Details
The Rs 550-crore IPO is a combination of a fresh issue of equity shares aggregating up to Rs 400 crore and an Offer For Sale (OFS) of shares valued at Rs 150 crore by promoters and promoter group entities.
Sanathan Textiles IPO Price Band
Its price band has been fixed at Rs 305 to Rs 321 per share. The minimum lot size for an application is 46. The minimum amount of investment required by retail investors is Rs 14,766. The minimum lot size investment for small NII is 14 lots (644 shares), amounting to Rs 2,06,724, and for big NII, it is 68 lots (3,128 shares), amounting to Rs 10,04,088.
The company has mobilised Rs 165 crore from anchor investors ahead of its initial share-sale opening for public subscription. SBI Mutual Fund (MF), Nippon India MF, HDFC MF, Kotak MF, Bandhan MF, SBI General Insurance Company, Societe Generale, and PineBridge Global Funds, are among the anchor investors, according to a circular uploaded on the BSE website.
As per the circular, Sanathan Textiles has allotted 51.4 lakh shares to 20 funds at Rs 321 apiece, which is also the upper end of the price band. This aggregates the transaction size to Rs 165 crore.
The company plans to utilise the proceeds from its fresh issue worth Rs 160 crore for payment of a debt, Rs 140 crore will be invested in its subsidiary, Sanathan Polycot Pvt Ltd, for the repayment or prepayment of its borrowings, and the remaining amount will be allocated for general corporate purposes.
Sanathan Textiles operates three distinct yarn business divisions — polyester yarns, cotton yarns, and yarns — for technical textiles and industrial applications. These divisions are managed under a single corporate entity.
Half of the issue has been reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
Further, investors can bid for a minimum of 46 equity shares and in multiples of 46 equity shares thereafter.
Dam Capital Advisors and ICICI Securities are the book-running lead managers to the issue. The equity shares are proposed to be listed on the BSE and the NSE.