The Shanti Spintex IPO constitutes a book-built issue valued at Rs 31.25 crores, encompassing a fresh issue of 26.88 lakh shares totaling Rs 18.82 crores and an offer for sale of 17.76 lakh shares amounting to Rs 12.43 crores.
The IPO opened for subscription on December 19, 2023, and will conclude on December 21, 2023. Allotment results for the Shanti Spintex IPO are anticipated to be finalized by Friday, December 22, 2023. The listing of Shanti Spintex IPO on BSE SME is provisionally scheduled for Wednesday, December 27, 2023.
The price band for the Shanti Spintex IPO is set between Rs. 66 to Rs. 70 per share, with a minimum lot size of 2000 shares. Retail investors are required to invest a minimum of Rs. 140,000, while High Net Worth Individuals (HNIs) must invest in a minimum of 2 lots (4,000 shares) totaling Rs. 280,000.
Hem Securities Limited operates as the book running lead manager for the Shanti Spintex IPO, and Kfin Technologies Limited serves as the registrar for this issue. Hem Finlease has been designated as the market maker for the Shanti Spintex IPO.
Established in 2010, Shanti Spintex Limited specializes in manufacturing and distributing denim fabrics. In 2016, the company established a fabric weaving unit spanning 8,660 square meters in Dholi - Integrated Spinning Park, Dholka, Ahmedabad. By December 2023, they've installed 96 air jet looms at this location, boasting an annual capacity to weave 1,92,72,000 meters of denim fabrics.
Their product range includes various denim types like knit denim, power stretch spandex denim, rigid denim, lightweight denim, flat finish 3/1 denim, and over-dyed denim. Shanti Spintex utilizes different yarn types such as ring yarn, cotton yarn, viscose yarn, cotton spandex, slub yarn, tencel, polyester spandex, and lyocell. They procure yarn and grey fabrics domestically, finish the grey fabrics, and sell them to customers, predominantly in Gujarat.
The Indian textile industry is experiencing significant growth due to domestic consumption and rising export demands. Projections suggest the textile and apparel sector could reach US$ 190 billion by FY 2026, with the government targeting US$ 100 billion in textile exports within five years. Urbanization, evolving fashion preferences, and trends are expected to fuel this growth, presenting opportunities for companies like Shanti Spintex.
Shanti Spintex Limited is gearing up for its IPO scheduled to be available for subscription from December 19th to December 21st, 2023. Allocation of shares is set for December 22nd, 2023, with the IPO slated for listing on the stock exchanges on December 27th, 2023.
IPO Opening Date: The IPO subscription for Shanti Spintex Limited begins on Tuesday, December 19, 2023.
IPO Closing Date: Investors can subscribe to the IPO until Thursday, December 21, 2023.
Basis of Allotment: The basis of allotment for the IPO will be determined on Friday, December 22, 2023.
Initiation of Refunds: Refunds for the IPO will be initiated starting Tuesday, December 26, 2023.
Credit of Shares to Demat: Share allotments will be credited to Demat accounts on Tuesday, December 26, 2023.
Listing Date: Shanti Spintex Limited's IPO is set to be listed on Wednesday, December 27, 2023.
Cut-off Time for UPI Mandate Confirmation: The deadline for confirming UPI mandates is 5 PM on December 21, 2023, ensuring timely processing for interested investors.
| IPO Date | 19th to 21st December 2023 |
| Listing Date | 27th December 2023 |
| Face Value | Rs. 10 per share |
| Price Band | Rs. 66 to Rs. 70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 4,464,000 shares (aggregating up to Rs. 31.25 Cr) |
| Fresh Issue | 2,688,000 shares (aggregating up to Rs. 18.82 Cr) |
| Offer for Sale | 1,776,000 shares of Rs. 10 (aggregating up to Rs. 12.43 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 14,200,000 |
| Share holding post issue | 16,888,000 |
| Market Maker portion | 224,000 shares |
During the period between March 31, 2022, and March 31, 2023, Shanti Spintex Limited experienced a notable surge in revenue, marking a growth of 45.23%. Moreover, the company's profit after tax (PAT) saw a substantial rise, escalating by 108.14%.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 17,457.31 | 17,588.33 | 13,631.33 | 11,926.82 |
| Revenue | 16,237.63 | 37,071.27 | 25,526.51 | 11,293.73 |
| Profit After Tax | 523.75 | 1,012.81 | 486.59 | 337.53 |
| Net Worth | 6,122.31 | 5,603.93 | 4,622.73 | 4,136.14 |
| Reserves and Surplus | 4,702.31 | 4,893.93 | 3,912.73 | 3,426.14 |
| Total Borrowing | 3,474.45 | 4,177.66 | 4,868.64 | 4,278.83 |
| Amount in Rs. Lakhs | ||||
What is Shanti Spintex IPO?
The Shanti Spintex IPO, comprising 4,464,000 equity shares at a face value of Rs. 10 each, amounts to a total of Rs. 31.25 Crores. Priced in the range of Rs. 66 to Rs. 70 per share, the IPO requires a minimum order quantity of 2000 shares. Commencing on December 19, 2023, the IPO subscription period concludes on December 21, 2023.
When Shanti Spintex IPO will open for apply?
The Shanti Spintex IPO is scheduled to open for application on December 19, 2023.
What are the minimum lot size and investment needed for participating in the Shanti Spintex IPO?
The Shanti Spintex IPO mandates a minimum lot size of 2000 shares, necessitating an investment totaling Rs. 1,40,000.
When is Shanti Spintex IPO allotment date?
The allotment date for the Shanti Spintex IPO is expected to be finalized on Friday, December 22, 2023.
What is the Shanti Spintex IPO listing date?
The Shanti Spintex IPO is anticipated to be listed on the BSE SME platform with a tentative listing date set for Wednesday, December 27, 2023.
What is the price band of Shanti Spintex IPO?
The price band for the Shanti Spintex IPO is set between Rs. 66 to Rs. 70 per share.
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