In addition to being a major producer of polyester yarns, Sanathan Textiles is a worldwide supplier of yarns for technical textiles, cotton, and polyester. The company offers a broad variety of yarns that are suited to different sectors and applications through its three business verticals. The initial public offering (IPO) of Sanathan Textiles began on December 19, 2024, and is scheduled to conclude today, December 23, 2024.
Details of the IPO
The IPO of Sanathan Textiles is a book-built issue with a total value of ₹550 crores. It consists of an offer to sell 0.47 crore shares for ₹150 crores and a new issuance of 1.25 crore shares for ₹400 crores. On December 19, 2024, the IPO bidding began, and it ended on December 23, 2024. The IPO price range was established between ₹305 and ₹321 per share. The allotment of shares was finalized on Tuesday, December 24, 2024, with the listing on BSE and NSE scheduled for Friday, December 27, 2024. Dam Capital Advisors Ltd (formerly IDFC Securities Ltd) and ICICI Securities Limited acted as the book-running lead managers, while Kfin Technologies Limited served as the registrar for the issue.
Utilisation of Proceeds
The net proceeds will be used by the company to: repay and/or prepay, in full or in part, some of the company’s borrowings; invest in Sanathan Polycot Private Limited, its subsidiary, to repay and/or prepay, in full or in part, the subsidiary’s borrowings; and for general corporate purposes.
How to Verify the Allotment Status on BSE: A Comprehensive Guide
Go to the BSE website’s IPO allocation page.
1.Choose “Equity” as the issue type.
2.Choose ‘Sanathan Textiles’ from the option that drops down.
3.Enter your PAN (Permanent Account Number) or application number.
4.Please complete the ‘Captcha’ to confirm that you are human.
5.Click on the ‘Search’ option to see your allotment status.
How to Verify Your NSE Allotment Status
Go to the IPO bid verification page on the NSE.
If you are a new user, register on the website.
“Sanathan Textiles” should be selected.
Put in information like your application number.
Select “Get Data.”
How to Check Kfin Technologies’ Allotment Status
Go to the website of the IPO registrar.
Select ‘Sanathan Textiles’ from the drop-down selection for Select IPO.
Choose either the PAN, Demat Account, or Application No.
Enter the details as per the option selected.
Enter the Captcha code and click on Submit. Your Sanathan Textiles IPO allotment status will be displayed on the screen.
Subscription Status for IPO Day 3 (December 23, 2024, End of Day)
The Sanathan Textiles IPO was subscribed for 35.07 times the total number of shares offered on the third day of bidding. 42.18 times their allotted share was subscribed by non-institutional investors (NIIs). While Retail Investors subscribed 8.84 times the shares reserved for them. The Qualified Institutional Buyers (QIBs) segment saw a subscription rate of 75.62 times.