Sanathan Textiles IPO: From price band to GMP, here are 10 key things to know before issue opens on December 19 | Stock Market News
Source: Live Mint
Sanathan Textiles IPO: The initial public offering (IPO) of polyester yarn manufacturer Sanathan Textiles Ltd is set to hit Dalal Street on Thursday. The ₹550-crore worth Sanathan Textiles IPO will remain open for bidding till December 23.
Sanathan Textiles’ business is divided into three separate yarn business verticals, consisting of polyester yarn products, cotton yarn products and yarns for technical textiles and industrial uses.
The company plans to go public with and raise ₹550 crore from the primary markets. Here are 10 key details of Sanathan Textiles IPO:
Sanathan Textiles IPO: 10 key things to know
1] Sanathan Textiles IPO Dates: Sanathan Textiles IPO opens for public subscription on Thursday, December 19, and closes on Monday, December 23.
2] Sanathan Textiles IPO Price Band: Sanathan Textiles IPO price band is set at ₹305 to ₹321 per share.
3] Sanathan Textiles IPO Lot Size: Sanathan Textiles IPO lot size is 46 shares. The minimum investment amount required by retail investors is ₹14,766.
4] Sanathan Textiles IPO Details: Sanathan Textiles IPO size is ₹550 crore, which is a combination of fresh issue of 1.25 crore equity shares aggregating to ₹400 crore and an offer-for-sale (OFS) component of 47 lakh shares worth ₹150 crore.
5] Sanathan Textiles IPO OFS: In the OFS portion of Sanathan Textiles IPO, the selling shareholders include promoter and promoter group entities. They are Paresh Dattan, Ajay Dattani, Anilkumar Dattani, Dinesh Dattani, Vajubhai Investments Pvt Ltd, Vallabhdas Dattani HUF, Sonali Dattani, Dattani Dineshkumar Vrajdas HUF, Beena Paresh Dattani and Anilkumar Vrajdas Dattani HUF.
6] Sanathan Textiles IPO Allotment: Sanathan Textiles IPO allotment is expected to be finalized on December 24. The company will credit the equity shares into the demat accounts of the eligible allottees on December 26 and initiate refunds to unsuccessful bidders on the same day.
7] Sanathan Textiles IPO Listing: Sanathan Textiles IPO listing date is likely December 27. Sanathan Textiles shares will be listed on both the stock exchanges, BSE and NSE.
8] Sanathan Textiles IPO Registrar, BRLM: Dam Capital Advisors Ltd and ICICI Securities are the book running lead managers of the Sanathan Textiles IPO, while Kfin Technologies is the IPO registrar.
9] Sanathan Textiles IPO Reservation: The company has reserved 50% of shares in the IPO for Qualified Institutional Buyers (QIB), while 35% of the offer is reserved for Retail investors and 15% of the offer is reserved for Non-Institutional Investors (NII).
10] Sanathan Textiles IPO GMP: Sanathan Textiles shares are commanding a decent grey market premium (IPO) ahead of the issue opening. According to stock market observers, Sanathan Textiles IPO GMP today is ₹25 per share. This indicates that Sanathan Textiles shares are trading at ₹346 apiece in the grey market, a premium of 7.79% to the IPO price of ₹321 per share.
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