Sanathan Textiles IPO Set To Open For Bidding on December 19

The ₹550.00 crore Sanathan Textiles IPO is set to open for subscription on December 19, 2024 and will close on December 23, 2024. The IPO is a combination of a fresh issue of 1.25 crore shares aggregating to ₹400.00 crore and an offer for sale of 0.47 crore shares aggregating to ₹150.00 crore.

Sanathan Textiles IPO allotment is expected to be finalised on December 24, 2024. The shares of Sanathan Textiles will be listed on BSE and NSE at a tentative listing date of December 27, 2024. The price band for the IPO has been set at ₹305 to ₹321 per share. The minimum lot size for an application is 46. The minimum amount of investment required by retail investors is ₹14,766.

The company has appointed DAM Capital Advisors Ltd (Formerly IDFCSecurities Ltd), and ICICI Securities Limited as the book-running lead managers, while Kfin Technologies Limited as the registrar to the issue.

Objects of Sanathan Textiles IPO

The company has decided to use the net proceeds towards the following objects:

• Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company;
• Investment in our subsidiary viz. Sanathan Polycot Private Limited, for repayment and/ or pre-payment, in full or part, of certain borrowings availed by our subsidiary viz. Sanathan Polycot Private Limited; and
• General corporate purposes.

About Sanathan Textiles Limited

Founded in 2005, Sanathan Textiles Limited is a manufacturer of polyester yarn and a global supplier of cotton yarn. The company’s operations are organized into three distinct business segments: (a) polyester yarn products, (b) cotton yarn products, and (c) yarns for technical textiles and industrial applications. These technical textiles serve multiple industries, including automotive, healthcare, construction, sports, outdoor activities, and protective clothing.

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.