Share allotment in the initial public offering (IPO) of Sanathan Textiles Limited is slated to be finalised on December 24 after a strong subscription. The Sanathan Textiles IPO was booked 35.07 times, led by an upbeat response from qualified institutional buyers (QIBs). Overall, investors placed bets for 44,26,24,972 shares against 1,26,22,950 shares on offer.
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The QIB allocation of the issue was booked 75.62 times whereas the portion reserved for non-institutional investors saw an oversubscription of 42.18 times.
The IPO received a decent response in the retail category as well, getting booked 8.84 times.
The Sanathan Textiles IPO was open between December 19-23.
Those who bid in the IPO can check their share allotment status online via the official websites of BSE, NSE and the issue’s registrar, KFin Technologies Limited.
Steps to check Sanathan Textiles IPO share allotment:
- Open the Application Status page of BSE.
- Select Equity.
- Select Sanathan Textiles Co. Ltd.
- Enter your IPO application number or PAN details.
- Verify the captcha to proceed with your request.
- Click on the Submit button.
Steps to check Sanathan Textiles IPO allotment status on the registrar’s website:
- Visit the official website of KFin Technologies.
- Select any one of the five servers displayed on the screen.
- Select Sanathan Textiles Ltd. from the list of companies.
- Enter your Application Number, demat account number or PAN.
- Enter details on the basis of your selection.
- Clear Captcha to proceed.
- Click Submit to check the allotment status.
The Sanathan Textiles IPO allotment will also be updated on the NSE website since it’s a mainboard issue. Investors may use their registration ID and password to check the allotment status on NSE.
Credit of shares in the demat account of successful bidders and initiation of refunds for the non-allottees will be done on December 26. Shares of Sanathan Textiles Ltd are set to make their D-Street debut on the NSE and BSE on December 27.
Sanathan Textiles IPO: Highlights
The Sanathan Textiles IPO is a combination of 1.25 crore shares aggregating to ₹400 crore and an offer for sale (OFS) of 47 lakh shares worth ₹150 crore at the price band of ₹305-321 per share. This takes the total size to ₹550 crore.
About
Sanathan Textiles Ltd has a presence across the polyester, cotton and technical textile (which find application in multiple end-use segments, including automotive, healthcare, construction, sports and outdoor, and protective clothing) sectors.
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Based on its operating income, the company had a market share of 1.7% in the overall Indian textile yarn industry as of fiscal 2024.
(Edited by : Shoma Bhattacharjee)