Shanti Spintex was incorporated on 23 August 2010. The company is primarily engaged in the manufacturing and selling of denim fabrics. It began its business as a fabric trading concern in FY15. The company manufactures various types of denim fabrics, including power stretch spandex denim, knit denim, lightweight denim, rigid denim, overdyed denim, and flat finish 3/1 denim.
| Bidding Dates |
|---|
| 19 Dec 2023 - 21 Dec 2023 |
| Subscription |
|---|
| 25.53x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,32,000 | 1 | 1 | 2000 | 4.5 M | ₹66 - ₹70 | 31.53 % | ₹294.6 M - ₹312.5 M | RHP DOC |
Shanti Spintex IPO SUBSCRIPTION STATUS
21 Dec '23Shanti Spintex IPO overall subscription rate was 25.53 times the total available shares
Shanti Spintex IPO retail subscription rate was 22.01 times in the retail segment
Shanti Spintex IPO non-institutional investor subscription rate was 42.62 times in the non-institutional investor category
Shanti Spintex IPO Qualified Institutional Bidder subscription rate was 14.34 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
21 Dec 2023 (Day 3) | 22.01x | 42.62x | 14.34x |
20 Dec 2023 (Day 2) | 6.19x | 4.44x | 4.49x |
19 Dec 2023 (Day 1) | 1.84x | 2.03x | 2.08x |
Shanti Spintex FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY24 | 52.4 | 1,623.2 | 144.6 | 79.6 | 7.0% |
| FY23 | 101.3 | 3,703.3 | 159.6 | 4.6 | 5.8% |
| FY22 | 48.7 | 2,549.1 | 52.7 | 49.9 | 4.7% |
| FY21 | 33.8 | 1,128.0 | 34.6 | 34.6 | 10.0% |
Shanti Spintex IPO SUBSCRIPTION STATUS DETAILS
Shanti Spintex had 4.5 M shares on offer
Shanti Spintex IPO offer price was in the range ₹66 - ₹70
Shanti Spintex IPO minimum Investment was ₹132000
Shanti Spintex IPO issue size was ₹ 294.6 M - ₹ 312.5 M
Shanti Spintex had a minimum lot size of 2000 Shares per application
Shanti Spintex NUMBER OF SHARES ON OFFER
Shanti Spintex IPO IMPORTANT DATES
| Issue Open Date | 19 Dec 2023 |
| Issue close Date | 21 Dec 2023 |
| Allotment Date | 22 Dec 2023 |
| Refund Date | 26 Dec 2023 |
| Demat Account Credit Date | 26 Dec 2023 |
| Listing Date | 27 Dec 2023 |
| Listing on Exchange(s) | BSE |
| Shanti Spintex Allotment Status | Exchange |
Shanti Spintex IPO subscription opened on 19 Dec 2023, and closed on 21 Dec 2023
IPO allotment for Shanti Spintex was finalized on Friday, 22 Dec 2023
IPO listing for Shanti Spintex was on BSE on Wednesday, 27 Dec 2023
Shanti Spintex IPO LISTING GAINS
| Issue Price (adjusted) | 70.0 |
| Listing Open Price | 76.0 |
| Listing Close Price | 79.8 |
| Listing Gain% | 8.6% |
| Current Gain% | -48.6% |
Shanti Spintex Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shanti Spintex Ltd. | 36 | 60.8 | 6.1 | 0.1 | 9.4 | 4.3 | 708.5 | 9.9 | 5.9 | ||||
| KPR Mill Ltd. | 1076.7 | 36803.1 | 42.5 | 6.7 | 5.5 | 15.2 | 12.7 | 6784.3 | 5 | 866.5 | 6.3 | 25.4 | 6.3 |
| Vardhman Textiles Ltd. | 606.8 | 17563.9 | 20.7 | -43.8 | 1.7 | 7.1 | 5.4 | 10092.5 | -0.3 | 745.2 | -15.6 | 29.3 | -0.5 |
| Welspun Living Ltd. | 164.1 | 15738.7 | 77 | -1.1 | 1.7 | 4.2 | 2 | 9467.9 | -11.5 | 204.4 | -68 | 2.1 | -68 |
| Arvind Ltd. | 560.6 | 15249.2 | 36.8 | 2.2 | 1.6 | 10.2 | 4.7 | 9359.5 | 11.5 | 413.9 | 17.1 | 15.2 | 17.1 |
| Trident Ltd. | 25.2 | 12831.6 | 32.5 | -3.5 | 1.9 | 7.9 | 5 | 6775.2 | -3.9 | 377.1 | 2 | 0.8 | -9.4 |
Shanti Spintex INFORMATION ON IPO ISSUE
About Shanti Spintex
Shanti Spintex was incorporated on 23 August 2010. The company is primarily engaged in the manufacturing and selling of denim fabrics. It began its business as a fabric trading concern in FY15. The company manufactures various types of denim fabrics, including power stretch spandex denim, knit denim, lightweight denim, rigid denim, overdyed denim, and flat finish 3/1 denim.
Object of the Issue
- To meet working capital requirements
- General corporate purpose
Shanti Spintex - PROMOTERS
| Name |
|---|
| Bharat Bhushan Omprakash Agarwal |
| Rikin Bharatbhushan Agarwal |
Shanti Spintex Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Shanti Spintex Registrar to the issue
Kfin Technologies Private Limited
ssl.ipo@kfintech.com
Shanti Spintex Strengths
Diverse range of products
The company can manufacture a diverse range of denim fabrics through its in-house weaving unit. It has a cumulative weaving capacity of 192,72,000 meters of denim fabrics and the ability to produce grey fabrics in various designs, such as twill weave, knit dobby weave, structured dobby weave, broken twill weave, and satin weave
Stringent quality control
The company employs an extensive and stringent quality control mechanism during the inspection of denim fabrics. This includes tests such as colour fastness, residual shrinkage, stretchability, and skew tests, which are necessary to ensure that the finished product conforms to standard quality requirements
Shanti Spintex Risks
Faces competition
The company faces competition, including from other large and established competitors. It may not successfully compete against existing or new competitors, which could reduce the demand for its products and lead to lower prices
Certain tax proceedings
The company, its promoters, and its directors are parties to certain tax proceedings. Any adverse decision in these proceedings may have a material adverse effect on the business, results of operations, and financial condition
IPO FAQs
This IPO consists of an offer for sale of up to Rs 12.4 crore, of 1,776,000 shares. It also consists of a fresh issue of Rs 18.8 crore.
The promoters of the company are Bharat Bhushan Omprakash Agarwal and Rikin Bharatbhushan Agarwal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 66.0 - 70.0.
The IPO application opens on Dec 19, 2023 and closes on Dec 21, 2023.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 132,000.0, the maximum value for this IPO is Rs 140,000.0.
This IPO will be allotted on Dec 22, 2023.
The refund will be credited to your account on Dec 26, 2023.
The allotted shares will be credited to your demat on Dec 26, 2023.
Shanti Spintex Ltd.’s shares listed on the stock exchanges on Dec 27, 2023.