Shanti Spintex Ltd IPO

About Shanti Spintex Limited

Incorporated in 2010, Shanti Spintex Limited is involved in the manufacturing and selling of denim fabrics. In 2016, the company set up its fabric weaving unit at Dholi - Integrated Spinning Park, Dholka, Ahmedabad, on a plot area of 8,660 square metres. As of December 2023, the company has 96 air jet looms installed at their Dholi unit, with an annual installed capacity of weaving 1,92,72,000 metres of denim fabrics.

Shanti Spintex Limited manufactures different types of denim fabrics, including knit denim, power stretch spandex denim, rigid denim, lightweight denim, flat finish 3/1 denim and over-dyed denim. Their operations include various types of yarn like ring yarn, cotton yarn, viscose yarn, cotton spandex, slub yarn, tencel, polyester spandex, lyocell and more. The company procures yarn and grey fabrics from the domestic market. The grey fabrics are subsequently sent for finishing and sold to customers. The company’s primary source of revenue is from Gujarat-based customers, which includes wholesalers, manufacturers or traders.

The Indian textile industry is poised for robust expansion, driven by robust domestic consumption and increasing export demands. The textile and apparel sector is expected to reach US$ 190 billion by FY 2026. In October 2021, the government unveiled an ambitious objective of attaining US$ 100 billion in textile exports from India within the next five years. The ongoing process of urbanisation is anticipated to contribute to accelerated growth, influenced by evolving fashion preferences and trends. This outlook can be a positive opportunity for the company.

Shanti Spintex Limited IPO Details

Shanti Spintex Limited IPO Dates

Shanti Spintex Limited’s IPO will open on December 19, 2023, and close on December 21, 2023. The IPO will be listed on the BSE SME on December 27, 2023.

Shanti Spintex Limited IPO Price Band

Shanti Spintex Limited is a fresh IPO and Offer for Sale of up to 44,64,000 equity shares. The price of the IPO is not yet announced.

Shanti Spintex Limited IPO Lot Size

Shanti Spintex Limited’s IPO lot size is not yet announced.

Shanti Spintex Limited IPO Objectives

The objectives of Shanti Spintex Limited's IPO are listed below:

• For general corporate purposes.
• To fund the working capital requirements.

Peer Details

As per DRHP, the listed peers whose business portfolio is comparable to the company are as follows:

• Jindal Worldwide Ltd
• R&B Denims Limited
• Manomay Tex India Limited
• United Polyfab Gujarat Limited

How To Check the Shanti Spintex Limited Allotment Status?

Steps to check IPO allotment status on Angel One’s app:

• Log in to the Angel One app.
• Go to the IPO Section and then to IPO Orders.
• Select the individual IPO that you had applied for and check the allotment status.
• Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Shanti Spintex Limited IPO

• Registered office: Sub Plot 1, Unit 1, Survey No. 297, Dholi - Integrated Spinning Park Limited, Dholi, Dholka, Ahmedabad, Gujarat – 382 240, India.
• Phone: +91-98258 01039
• E-mail: info@shantispintex.com