Sanathan Textiles Ltd IPO Opens On December 19. Check IPO Details Issue Date Price

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Sanathan Textiles Ltd IPO Opens On December 19. Check IPO Details Issue Date Price

December 19, 2024
Sanathan Textiles Ltd IPO Opens On December 19. Check IPO Details Issue Date Price

Sanathan Textiles Limited is coming out with a fresh public issue to raise Rs. 550 crores from the market.

Below are the details of the Sanathan Textiles Limited IPO:

  • Issue opens – December 19th (Thursday)
  • Issue closes – December 23rd (Monday)
  • Issue size – Rs. 550 crores
  • Price band – Rs. 305 to 321 per equity share
  • Bid lot – 46 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Sanathan Textiles Limited (the “Company”) is one of the few companies (amongst its peer group) in India with presence across the polyester, cotton and technical textile (which find application in multiple end-use segments including automotive, healthcare, construction, sports and outdoor, and protective clothing) sectors and based on the companies operating income, it had a market share of 1.7% in the overall Indian textile yarn industry as of Fiscal 2024. (Source: CRISIL Report). Currently, all the three yarn verticals are housed under a single corporate entity. This has facilitated the company’s diversification into new segments which in turn has helped them in serving a large number of customers across various sectors.
  • As on September 30, 2024, the company has more than 3,200 active varieties of yarn products (i.e. yarn products manufactured by them during the period April 1, 2021 to September 30, 2024) and more than 45,000 stock keeping units (SKUs), and capability to manufacture a diversified product portfolio of more than 14,000 varieties of yarn products and more than 190,000 SKUs that are used in various forms and for varied end uses.
  • The company also has a high share of value-added products such as dope dyed, superfine / micro, functional, industrial and technical yarn, cationic dyeable and specialty yarn which are produced after extensive in-house research. These value added products are tailor-made to customer requirements and have properties and characteristics which are distinctive from Company’s other products.
  • The business is divided into three separate yarn business verticals, consisting of: (a) Polyester yarn products; (b) Cotton yarn products; and (c) Yarns for technical textiles and industrial uses. The revenue mix from the three verticals for Fiscal 2024, Fiscal 2023 and Fiscal 2022, based on the Restated Consolidated Financial is 77.24%,18.56% and 4.20% for polyester yarn products, cotton yarn products and yarns for technical textiles and industrial uses respectively.

Issue Size : Rs. 550 Cr.

Issue break-up :

QIB - 50 % of the offer - Rs. 275 Cr.
NIB - 15 % of the offer - Rs. 83 Cr.
RET - 35 % of the offer - Rs. 192 Cr.

Listing: BSE & NSE

Registrar: KFin Technologies Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Monday, December 23, 2024.

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