December 21, 2024
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Sanathan Textiles IPO GMP grey market premium, review, Subscription, allotment, listing estimate @ Chanakyanipothi.com
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- GMP
- Reviews
- Subscription
- Allotment
What is the latest news relating to Sanathan Textiles IPO?
After receiving Sebi green signal on October 31, 2024, the company is entering the market on 19 th December and the IPO will close on 23 December. The size of the IPO is only Rs. 500 crore, comprising fresh issue of Rs. 400 crore and offer for sale of Rs. 150 crore.
Sanathan Textiles IPO Subscription Status
Sanathan Textiles IPO Subscriptions (Day 2)Price Rs. 321 Lot 46 shares, Net Rs. 550.00 Crore |
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| QIB | B HNI X | S HNI X | NII X | RII X | Total X |
| 0.10 | 0.89 | 3.05 | 1.61 | 2.32 | 1.53 |
| Applications: 2,83,621 / (?x) Amount wise Bids recd. Rs. ? Crore |
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Sanathan Textiles IPO Allotment Link:
We will provide allotment link, once the allotment is finalised.
Who is the promoter of Sanathan Textiles IPO?
The company’s promoters are PARESH VRAJLAL DATTANI, AJAY VALLABHDAS DATTANI, ANILKUMAR VRAJDAS DATTANI, DINESH VRAJDAS DATTANI, NIMBUS TRUST, D&G FAMILY TRUST, A&J FAMILY TRUST AND P&B FAMILY TRUST
What are the Objects of Sanathan Textiles IPO?
The Company proposes to utilise the Net Proceeds towards the following objects:
1. Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company;
2. Investment in our subsidiary viz. Sanathan Polycot Private Limited, for repayment and/ or pre-payment, in full or part, of certain borrowings availed by the subsidiary viz. Sanathan Polycot Private Limited; and 3. General corporate purposes.
What is the business of Sanathan Textiles?
Sanathan Textiles is one of the few companies in India with presence across the polyester, cotton and technical textile sectors. Currently, all the three yarn verticals are housed under a single corporate entity. This has facilitated its diversification into new segments which in turn has helped it in serving a large number of customers across various sectors. As on June 30, 2024, it has more than 2,800 active varieties of yarn products and more than 30,000 stock keeping units (SKUs), and capability to manufacture a diversified product portfolio of more than 14,000 varieties of yarn products and more than 190,000 SKUs that are used in various forms and for varied end uses.
It also has a high share of value-added products such as dope dyed, superfine / micro, functional, industrial and technical yarn, cationic dyeable and specialty yarn which are produced after extensive in-house research. These value added products are tailor-made to customer requirements and have properties and characteristics which are distinctive from its other products. During the Fiscal 2024, Fiscal 2023 and Fiscal 2022, its sale of value added product yarns (i.e. cationic dyeable, born dyed, functional, industrial, speciality and superfine / micro) as a % of the total products sold, based on its Restated Consolidated Financial Statements,
Its business is divided into three separate yarn business verticals, consisting of: (a) Polyester yarn products; (b) Cotton yarn products; and (c) Yarns for technical textiles and industrial uses.
The company expects the global yarn industry as well as the demand for yarn products to steadily grow over the next few years. Increasing demand for apparel from the fashion industry coupled with the growth of e-commerce platforms is expected to drive the market over the forecast period. Indian textile and apparel industry is also projected to grow at a CAGR of 6.0-7.0% from Fiscal 2024 till Fiscal 2028. During this period, exports are expected to grow at a CAGR of 4.5-5.5% while domestic industry is expected to grow at slightly higher pace of 7.0-8.0%.
During the Fiscal 2024 and Fiscal 2023, it catered to 1,571 and 1,684 customers, respectively.
For more information, click https://www.sanathan.com
Sanathan Textiles IPO GMP grey market premium, review, Subscription, allotment, listing estimate
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Sanathan Textiles IPO Details |
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| IPO opens on | 19 December 2024 |
| IPO closes on | 23 December 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 17133958 Shares / Rs 550 Crore |
| * Fresh Issue | 12461060 Shares / Rs 400 Crore |
| * Offer for Sale | 4672898 shares/ Rs.150 Crore |
| Face Value per share: | Rs. 10 |
| Price Band | Rs.305-321 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 46 Shares |
| Listing will at | BSE, NSE |
|
Shares offered in |
Shares | Rs. in Crore |
| QIB (50 %) | 8566979 | 275.00 |
| NII (15 %) | 2570094 | 82.50 |
| RII (35 %) | 5996885 | 192.50 |
| Employees | – | – |
| Total Shares | 17133958 | 550.00 |
| Retail portion will be oversubscribed by | 130367 Forms. | |
| How to apply in Sanathan Textiles IPO? |
Amount Rs. |
|
| Min Retail Application | 46 | 14766 |
| Max Retail Application | 598 | 191958 |
| Small HNI (Min) application | 644 | 206724 |
| Small HNI (Max) application | 3082 | 989322 |
| Big HNI Application | 3128 | 1004088 |
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What is the timetable of Sanathan Textiles IPO? |
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| IPO opens on | 19 December 2024 |
| IPO Closes on | 23 December 2024 |
| IPO Allotment on | 24 December 2024 |
| Unblocking of ASBA | 26 December 2024 |
| Credit of Shares | 26 December 2024 |
| Listing on | 27 December 2024 |
| Registered Office of Sanathan Textiles | |
| SRV NO. 187/4/1/2, Near Surangi Bridge, Surangi, Dadra & Nagar Haveli, Silvassa – 396230, India | |
| Who are the Lead Managers of Sanathan Textiles IPO? Dam Capital Advisors ICICI Securities Ltd |
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| Registrar to IPO | |
| KFin Technologies Limited |
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Sanathan Textiles IPO Financial & Analytical Ratios |
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| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2021-22 | 3201 | 355 | 49.40 | 36.03 |
| 2022-23 | 3345 | 153 | 21.24 | 13.40 |
| 2023-24 | 2979 | 134 | 18.60 | 10.42 |
| Book Value of the Share on 31.03.2024 |
Rs. | 177.22 | ||
| BV after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 321 | ||
| Sanathan Textiles IPO Ratio Analysis |
|
| Price /EPS | 17.26 |
| Price/Book Value Ratio | 1.81 |
| Price/BV after IPO | ? |
How Sanathan Textiles IPO compares with the Peers?
| As on date of DRHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| Sanathan Textiles | 10 | 2957 | 17.26 |
| KPR Mills | 1 | 6060 | 40.18 |
| Vardhman Textiles | 2 | 9505 | 23.34 |
| Indo Count Ind. | 2 | 3557 | 22.49 |
| Filatex Ind. | 1 | 4286 | 25.00 |
| Garware Tech. Fibre | 10 | 1326 | 35.38 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Sanathan Textiles IPO Review
Sanathan Textiles is one of the few companies in India with presence across the polyester, cotton and technical textile sectors. Currently, all the three yarn verticals are housed under a single corporate entity. This has facilitated its diversification into new segments which in turn has helped it in serving a large number of customers across various sectors.
The net size of the IPO is Rs. 385 crore, with Rs. 82.50 crore allocated for HNI investors. The shares are offered at a PE multiple of 17.26, which is appealing compared to its peer group companies. However, the premium-to-offer price ratio is not particularly strong. As a result, only marginal listing gains can be expected.
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