Shanti Spintex IPO is a book built issue of Rs 31.25 crores. The issue is a combination of fresh issue of 26.88 lakh shares aggregating to Rs 18.82 crores and offer for sale of 17.76 lakh shares aggregating to Rs 12.43 crores.
Shanti Spintex IPO opens for subscription on December 19, 2023 and closes on December 21, 2023. The allotment for the Shanti Spintex IPO is expected to be finalized on Friday, December 22, 2023. Shanti Spintex IPO will list on BSE SME with tentative listing date fixed as Wednesday, December 27, 2023.
Shanti Spintex IPO price band is set at ₹66 to ₹70 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹140,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹280,000.
Hem Securities Limited is the book running lead manager of the Shanti Spintex IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Shanti Spintex IPO is Hem Finlease.
Refer to Shanti Spintex IPO RHP for detailed information.
Shanti Spintex IPO Details
| IPO Date | December 19, 2023 to December 21, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹66 to ₹70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 4,464,000 shares (aggregating up to ₹31.25 Cr) |
| Fresh Issue | 2,688,000 shares (aggregating up to ₹18.82 Cr) |
| Offer for Sale | 1,776,000 shares of ₹10 (aggregating up to ₹12.43 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 14,200,000 |
| Share holding post issue | 16,888,000 |
| Market Maker portion | 224,000 shares Hem Finlease |
Shanti Spintex IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Shanti Spintex IPO Timeline (Tentative Schedule)
Shanti Spintex IPO opens on December 19, 2023, and closes on December 21, 2023.
| IPO Open Date | Tuesday, December 19, 2023 |
| IPO Close Date | Thursday, December 21, 2023 |
| Basis of Allotment | Friday, December 22, 2023 |
| Initiation of Refunds | Tuesday, December 26, 2023 |
| Credit of Shares to Demat | Tuesday, December 26, 2023 |
| Listing Date | Wednesday, December 27, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 21, 2023 |
Shanti Spintex IPO Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4,000 | ₹280,000 |
| Lot Size Calculator |
Shanti Spintex IPO Promoter Holding
The promoters of the company are Bharat Bhushan Omprakash Agarwal and Rikin Bharatbhushan Agarwal
| Share Holding Pre Issue | 87.49% |
| Share Holding Post Issue | 73.57% |
About Shanti Spintex Limited
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
Shanti Spintex Limited Financial Information (Restated)
Shanti Spintex Limited’s revenue increased by 45.23% and profit after tax (PAT) rose by 108.14% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 17,457.31 | 17,588.33 | 13,631.33 | 11,926.82 |
| Revenue | 16,237.63 | 37,071.27 | 25,526.51 | 11,293.73 |
| Profit After Tax | 523.75 | 1,012.81 | 486.59 | 337.53 |
| Net Worth | 6,122.31 | 5,603.93 | 4,622.73 | 4,136.14 |
| Reserves and Surplus | 4,702.31 | 4,893.93 | 3,912.73 | 3,426.14 |
| Total Borrowing | 3,474.45 | 4,177.66 | 4,868.64 | 4,278.83 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 9.82 |
| Post P/E (x) | 11.67 |
| ROE | 19.81% |
| ROCE | 10.12% |
| Debt/Equity | 0.75 |
| EPS (Rs) | 7.13 |
| RoNW | 18.07% |
Check Shanti Spintex IPO Peer Comparison here.
Objects of the Issue (Shanti Spintex IPO Objectives)
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 Contact Details
Shanti Spintex Limited
Sub Plot 1, Unit 1, Survey No. 297, Dholi
Integrated Spinning Park Limited, Dholi,
Dholka, Ahmedabad – 382 240,
Phone: +91-98258 01039
Email: info@shantispintex.com
Website: https://www.shantispintex.com/
Shanti Spintex IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: ssl.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/