Sanathan Textiles Sets Price Band For Rs 550-Crore IPO
Sanathan Textiles Ltd. will launch its initial public offering on Dec. 19 at a price band of Rs 305-321 per share.
The IPO comprises both an offer-for-sale component, as well as a fresh issue of shares. The company will offload shares worth Rs 150 crore through the OFS—the proceeds of which will be entirely received by the selling shareholders. The company is also set to issue fresh shares worth Rs 400 crore. The maiden issue will be worth Rs 550 crore at the upper end of the price band.
Following the public issue, shares of Sanathan Textiles will be listed on the NSE and the BSE.
Promoters Paresh Vrajlal Dattani, Ajay Vallabhdas Dattani, Anilkumar Vrajdas Dattani, and Dinesh Vrajdas Dattani will be offloading shares under the offer-for-sale component, alongside promotor groups Vajubhai Investments Pvt., Vallabhdas Dattani HUF, Sonali Ajaykumar Dattani, Dattani Dineshkumar Vrajdas HUF, Beena Paresh Dattani and Anilkumar Vrajdas Dattani HUF.
Dinesh Vrajdas Dattani and Anilkumar Vrajdas Dattani, two of the promotors selling their shares, will be offloading shares worth Rs 37.19 crore and Rs 35.56 crore respectively through the OFS.
The anchor investment round is scheduled on Dec. 18, a day before the offer opens for subscription. The IPO will close on Dec. 23.
DAM Capital Advisors Ltd., and ICICI Securities Ltd. are the book-running lead managers for the IPO, whereas KFin Technologies Ltd. is the registrar for the issue.
The company proposes to use the proceeds of the issue towards repayment of borrowings and general corporate purposes, as well as investment in subsidiary, namely Sanathan Polycot Pvt.
Sanathan Textiles Business
Sanathan Textiles has presence across the polyester, cotton and technical textile sectors with a market share of 1.7% in the overall Indian textile yarn industry as of fiscal 2024, per Crisil. All the three yarn verticals are housed under a single corporate entity. The company has more than 3,200 active varieties of yarn products, and a high share of value-added products including dope dyed, superfine/micro, functional, industrial and technical yarn, cationic dyeable and specialty yarn. Their business is divided into three separate yarn business verticals, consisting of polyester yarn products, cotton yarn products and yarns for technical textiles and industrial uses.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
