Sanathan Textiles, incorporated on October 10, 2005, operates across the polyester, cotton, and technical textile sectors, as outlined in the CRISIL Report. Presently, all three yarn verticals are consolidated within a single corporate entity.
| Bidding Dates |
|---|
| 19 Dec 2024 - 23 Dec 2024 |
| Subscription |
|---|
| 35.12x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,030 | 1 | 13 | 46 | 17.1 M | ₹305 - ₹321 | 77.6 % | ₹5225.9 M - ₹5500.0 M | RHP DOC |
Sanathan Textiles Ltd. IPO SUBSCRIPTION STATUS
23 Dec '24Sanathan Textiles Ltd. IPO overall subscription rate was 35.12 times the total available shares
Sanathan Textiles Ltd. IPO retail subscription rate was 8.93 times in the retail segment
Sanathan Textiles Ltd. IPO non-institutional investor subscription rate was 42.21 times in the non-institutional investor category
Sanathan Textiles Ltd. IPO Qualified Institutional Bidder subscription rate was 75.62 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
23 Dec 2024 (Day 3) | 8.93x | 42.21x | 75.62x |
20 Dec 2024 (Day 2) | 2.15x | 1.53x | 0.09x |
19 Dec 2024 (Day 1) | 0.76x | 0.32x | 0x |
Sanathan Textiles Ltd. 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 |
| Q1FY25 | 500.7 | 7,811.3 | 300.5 | -2,663.7 | 9.8% |
| FY24 | 1,338.5 | 29,575.0 | 1,917.4 | -213.5 | 7.7% |
| FY23 | 1,527.4 | 33,292.1 | 3,623.1 | 1,490.4 | 7.8% |
| FY22 | 3,554.4 | 31,853.2 | 2,945.6 | 2,542.2 | 16.9% |
Sanathan Textiles Ltd. IPO SUBSCRIPTION STATUS DETAILS
Sanathan Textiles Ltd. had 17.1 M shares on offer
Sanathan Textiles Ltd. IPO offer price was in the range ₹305 - ₹321
Sanathan Textiles Ltd. IPO minimum Investment was ₹14030
Sanathan Textiles Ltd. IPO issue size was ₹ 5225.9 M - ₹ 5500.0 M
Sanathan Textiles Ltd. had a minimum lot size of 46 Shares per application
Sanathan Textiles Ltd. NUMBER OF SHARES ON OFFER
Sanathan Textiles Ltd. IPO IMPORTANT DATES
| Issue Open Date | 19 Dec 2024 |
| Issue close Date | 23 Dec 2024 |
| Allotment Date | 24 Dec 2024 |
| Refund Date | 26 Dec 2024 |
| Demat Account Credit Date | 26 Dec 2024 |
| Listing Date | 27 Dec 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Sanathan Textiles Ltd. Allotment Status | Exchange |
Sanathan Textiles Ltd. IPO subscription opened on 19 Dec 2024, and closed on 23 Dec 2024
IPO allotment for Sanathan Textiles Ltd. was finalized on Tuesday, 24 Dec 2024
IPO listing for Sanathan Textiles Ltd. was on NSE and BSE on Friday, 27 Dec 2024
Sanathan Textiles Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 321.0 |
| Listing Open Price | 422.3 |
| Listing Close Price | 388.4 |
| Listing Gain% | 31.6% |
| Current Gain% | 49.6% |
Sanathan Textiles Ltd. 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sanathan Textiles Ltd. | 480.2 | 4053.1 | 66.7 | -1.1 | 0.9 | 4.1 | 1.6 | 3830.6 | 27 | 77.4 | -51.8 | 7.2 | -59.7 |
| KPR Mill Ltd. | 1118.1 | 38218.2 | 41.9 | 3.9 | 5.6 | 15.2 | 12.7 | 6784.3 | 5 | 866.5 | 6.3 | 26.7 | 10.7 |
| Vardhman Textiles Ltd. | 608.6 | 17616 | 20.8 | -43.9 | 1.7 | 7.1 | 5.4 | 10092.5 | -0.3 | 745.2 | -15.6 | 29.3 | -0.5 |
| Welspun Living Ltd. | 162.7 | 15603.5 | 76.3 | -1.1 | 1.7 | 4.2 | 2 | 9467.9 | -11.5 | 204.4 | -68 | 2.1 | -68 |
| Arvind Ltd. | 572.6 | 15577 | 37.6 | 2.2 | 1.7 | 10.2 | 4.7 | 9359.5 | 11.5 | 413.9 | 17.1 | 15.2 | 17.1 |
| Trident Ltd. | 24.9 | 12668.5 | 32.1 | -3.4 | 1.9 | 7.9 | 5 | 6775.2 | -3.9 | 377.1 | 2 | 0.8 | -9.4 |
Sanathan Textiles Ltd. IPO Reports
Sanathan Textiles Ltd. INFORMATION ON IPO ISSUE
About Sanathan Textiles Ltd.
Sanathan Textiles, incorporated on October 10, 2005, operates across the polyester, cotton, and technical textile sectors, as outlined in the CRISIL Report. Presently, all three yarn verticals are consolidated within a single corporate entity.
Object of the Issue
- Repayment and/or pre-payment, either in full or part, of certain borrowings acquired by the company.
- Investment in the subsidiary, Sanathan Polycot, to cater to its long-term working capital needs.
- General corporate purposes.
Sanathan Textiles Ltd. - PROMOTERS
| Name |
|---|
| Paresh Vrajlal Dattani |
| Ajay Vallabhdas Dattani |
| Dinesh Vrajdas Dattani |
| Anilkumar Vrajdas Dattani |
| D&J Family Trust |
| P&B Family Trust |
| A&J Family Trust |
| Nimbus Trust |
Sanathan Textiles Ltd. Book Running Lead Managers
DAM Capital Advisors Limited
Sanathan.ipo@damcapital.in
ICICI Securities Limited
sanathan.ipo@icicisecurities.com
Sanathan Textiles Ltd. Registrar to the Issue
KFin Technologies Limited
stl.ipo@kfintech.com
Sanathan Textiles Ltd. Strengths
Product development
The company constantly seeks to innovate and design products that are unique in color, properties, and characteristics to suit specific customer requirements. It has an in-house product innovation and development team that continually focuses on developing value-added products and utilizing its existing machines and infrastructure to prepare customized made-to-order products
Fully integrated plant
The company's products are manufactured at its facility in Silvassa, located in western Gujarat (operating facility). The West Gujarat Cluster is one of the major strategic locations for polyester yarn manufacturers in India due to the availability of manufacturing facilities across the supply chain of the polyester segment. The presence of raw material manufacturers, such as Reliance Industries for MEG and PTA, provides a logistical advantage for manufacturers in the region
Long-standing associations
The company has established long-standing relationships with leading consumer brands such as Welspun India, Valson Industries, G.M. Fabrics, Premco Global, Creative Garments Textile Mills, Banswara Syntex, AYM Syntex, Techno Sportswear, Haren Textiles, Khosla Profil, and many more
Sanathan Textiles Ltd. Risks
No long-term agreements
The company does not have long-term agreements with the majority of its customers. Any changes or cancellations to its orders or the inability to forecast demand for the products may adversely affect its business
Regulatory issues
One of the company's promoters was involved in a regulatory proceeding initiated by SEBI, which has been settled. Any such regulatory proceedings, or any adverse action as a result of such regulatory proceedings, may affect the company's reputation or business
Dependent on third party logistics
The company relies on third-party logistic and support service providers for the delivery of raw materials and finished products. Any disruptions in their services, including transportation services or a decrease in the quality of their services, may adversely affect the business
IPO FAQs
This IPO consists of an offer for sale of up to Rs 150.0 crore, of 4,672,897 shares. It also consists of a fresh issue of Rs 400.0 crore.
The promoters of the company are Paresh Vrajlal Dattani, Ajay Vallabhdas Dattani, Dinesh Vrajdas Dattani, Anilkumar Vrajdas Dattani, D&J Family Trust, P&B Family Trust, A&J Family Trust and Nimbus Trust.
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 305.0 - 321.0.
The IPO application opens on Dec 19, 2024 and closes on Dec 23, 2024.
The minimum lot size for the IPO is 46. The maximum lot size for the IPO is 598.
For all category investors, the minimum application amount for this IPO is Rs. 14,030.0, the maximum value for this IPO is Rs 191,958.0.
This IPO will be allotted on Dec 24, 2024.
The refund will be credited to your account on Dec 26, 2024.
The allotted shares will be credited to your demat on Dec 26, 2024.
Sanathan Textiles Ltd.’s shares listed on the stock exchanges on Dec 27, 2024.