The allotment of shares for the Sanathan Textiles IPO is scheduled for today, December 24, 2024. Successful bidders will receive their shares today. The Sanathan Textiles IPO was subscribed 80 times till the last day of subscription.
The IPO had a lot size of 46 shares, requiring a minimum investment of ₹14,766 from retail investors. The ₹550 crore IPO includes a 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.
Sanathan Textiles is a notable player in India’s textile industry, operating across polyester, cotton, and technical textile segments. As of FY24, the company held a 1.7% market share in the Indian textile yarn industry based on operating income.
The company plans to use the net proceeds from the issue for repaying and/or prepaying certain borrowings, investing in its subsidiary, Sanathan Polycot Pvt Ltd, and for general corporate purposes.
Sanathan Textiles is a leading polyester yarn manufacturer and a global supplier of cotton yarns, polyester yarns, and yarns for technical textiles. With a presence across three yarn business verticals, the company offers a diverse range of yarns used in various industries and applications.
From April 1, 2020, to December 31, 2023, Sanathan Textiles served 2,588 customers, providing products such as apparel, home furnishings, luggage, ropes, geogrid fabrics, seatbelts, upholstery, sportswear, innerwear, umbrellas, personal protective equipment, and pipes, all made from its high-quality yarns.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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