Shanti Spintex Limited IPO Detail
Incorporated in 2010, Shanti Spintex Limited manufactures and sells denim fabrics.
Shanti Spintex manufactures power stretch spandex denim, knit denim, lightweight denim, rigid denim, overdyed denim and flat-finished 3/1 denim. These fabrics are available in various shades such as Indigo Blue, IBST, Sulfur Black, Sulfur Gray, Halogen Blue and Ecru with weights ranging from 4.50 Oz/sq. yd to 14.50 Oz./sq. yd. and widths from 62" (157 cm) to 78" (198 cm).
The company also produces gray fabrics in a variety of weaves including twill weave, knit dobby weave, structure dobby weave, broken twill weave and satin weave.
The company's manufacturing facility is located in Ahmedabad, Gujrat, and is spread over an area of 8660 square meters. The facility has 96 airjet weaving machines with a weaving capacity of 1,92,72,000 meters of denim fabric
Company Promoters
Bharat Bhushan Omprakash Agarwal and Rikin Bharatbhushan AgarwalIPO Details
| IPO Opening Date | Dec 19, 2023 |
| IPO Closing Date | Dec 21, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹66 - 70 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | BSE SME |
| Issue Size | ₹31.25 Cr |
| Fresh Issue | ₹18.82 Cr |
| Offer for Sale | ₹12.43 Cr |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 2.08x | - | - | 2.75x | 1.84x | 2.11x |
| Day 2 | 4.49x | - | - | 5.66x | 6.19x | 5.59x |
| Day 3 | 14.34x | - | - | 57.28x | 22.01x | 27.38x |
IPO Tentative Timetable
The Shanti Spintex Limited IPO open date is Dec 19, 2023, and the close date is Dec 21, 2023. The issue may list on Dec 27, 2023.
| IPO Open Date | Dec 19, 2023 |
| IPO Close Date | Dec 21, 2023 |
| Basis of Allotment Date | Dec 22, 2023 |
| Initiation of Refunds | Dec 26, 2023 |
| Credit of Shares to Demat Account | Dec 26, 2023 |
| IPO Listing Date | Dec 27, 2023 |
IPO Lot Size
The Shanti Spintex Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹140000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹140000 |
| Maximum | 1 | 2000 | ₹140000 |
IPO Promoter Holding
| Pre Issue Share Holding | 87.49% |
| Post Issue Share Holding | 73.57% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 11926.82 | 11293.73 | 337.53 |
| 31-Mar-22 | 13631.33 | 25526.51 | 486.59 |
| 31-Mar-23 | 17588.33 | 37071.27 | 1012.81 |
Objects of the Issue:
The company proposes to utilize the funds which are being raised through the Fresh Issue, towards funding the following objects:
- To meet Working Capital requirements
- 2. General Corporate Purposes.
Shanti Spintex Limited IPO Registrar:
KFin Technologies Limited
Shanti Spintex Limited IPO Lead Manager(s):
Hem Securities Limited
Company Contact Information:
Shanti Spintex Limited
Sub Plot 1, Unit 1, Survey No. 297, Dholi
Integrated Spinning Park Limited, Dholi,
Dholka, Ahmedabad – 382 240,
