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The Qualified Institutional Buyers (QIBs) category mopped up 75.62 times subscription, while the quota for non-institutional investors subscribed 42.21 times. The portion for Retail Individual Investors (RIIs) received 8.93 times the subscription.
Sanathan Textiles on Wednesday said it has mobilised ₹165 crore from anchor investors. The issue has a price band of ₹305-321 per share sale. The company’s ₹550-crore IPO is a combination of a fresh issue of equity shares aggregating up to ₹400 crore and an Offer-for-Sale (OFS) of shares valued at ₹150 crore by promoters and promoter group entities.
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The company plans to utilise proceeds from its fresh issue worth ₹160 crore for payment of debt, while ₹140 crore will be invested in its subsidiary, Sanathan Polycot Pvt Ltd, for the repayment or prepayment of its borrowings, and the rest will be allocated for general corporate purposes.
Sanathan Textiles operates three distinct yarn business divisions — polyester yarns, cotton yarns, and yarns — for technical textiles and industrial applications. These divisions are managed under a single corporate entity. Dam Capital Advisors and ICICI Securities are the book-running lead managers to the issue. The equity shares are proposed to be listed on the BSE and the NSE.
Also Read: DAM Capital Advisors IPO: GMP surges on strong demand; Issue booked 81.88x on Day 3
