Sanathan Textiles IPO allotment on December 24: Here’s how to check status on NSE, Kfin Technologies

Sanathan Textiles IPO allotment status is expected to be finalised on Tuesday, December 24, after the public offer closed with a robust demand.

The mainboard issue was open from December 19 to December. The company aimed to raise ₹500 crore through the initial public offer.

The IPO of the cotton yarn producer was overall subscribed 35 times with bids for over 44.26 crore shares against more than 1.26 crore shares on offer. The

Among the investor categories, the Non-Institutional Investors (NIIs) led the demand by booking their quota 42.18 times. The NIIs applied for 11.4 crore shares against 27.04 lakh shares set aside for the category. The retail portion of the IPO was booked 8.84 times, with bids for more than 5.58 crore shares against 63.11 lakh shares on offer.

The Qualified Institutional Buyers (QIBs) subscribed their quota 75.62 times with bids for more than 27.27 crore shares against 36.06 lakh shares on offer.

Investors who participated in the IPO subscription can check the share allotment status on the websites of the NSE and BSE and issue registrar Kfin Technologies Ltd.

• Visit the official NSE IPO allotment page: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Log in with your credentials if you already have an account.
• If you're a new user, you will need to register on the NSE website.
• From the dropdown menu, select ‘Sanathan Textiles IPO’.
• Enter your application number and PAN details.
• Click on ‘Submit’ to view your IPO allotment status.

• Go to the official KFin Technologies allotment page: https://ris.kfintech.com/ipostatus/
• Select ‘Sanathan Textiles IPO’ from the dropdown menu. The company name will show up once the allotment process is finalised.
• Choose any of these — application number, Demat account number or PAN.
• Enter the details as per your selection.
• Complete the Captcha verification.
• Press the ‘Submit’ button to see your IPO allotment status.

Sanathan Textiles IPO: Key details

• After the basis of allotment is finalised, on December 26, the company will initiate refunds and transfer shares to the Demat accounts.
• Sanathan Textiles IPO consisted of a fresh issue of 1.25 crore shares, worth ₹400 crore, and an offer-for-sale (OFS) component of 47 lakh shares, worth ₹150 crore.
• The price band for the Sanathan Textiles IPO was set between ₹305 and ₹321 per share.
• Retail investors were allowed to apply for at least a single lot size of 46 shares, amounting to a minimum investment of ₹14,766.
• Small HNIs were allowed to invest at least ₹2,06,724 for 644 shares. The minimum application size for the Big HNIs (B-HNI) was 3,128 shares, which amounts to ₹10,04,088.
• Dam Capital Advisors Ltd and ICICI Securities Limited are the book running lead managers for the issue.
• The company’s shares are scheduled to be listed on both BSE and NSE on Friday, December 27.

About Sanathan Textiles and IPO objectives

The funds raised through the Sanathan Textiles IPO will be used for a few key purposes. A portion of the proceeds will be used to repay or partially pay off some of the company’s existing borrowings. The company also plans to invest in its subsidiary, Sanathan Polycot Private Ltd., to assist in repaying or partially settling its borrowings. The remaining funds will be allocated for general corporate purposes.

Founded in 2005, Sanathan Textiles Ltd specialises in producing polyester yarn and supplying cotton yarn globally. The company operates in three distinct segments — polyester yarn, cotton yarn and yarns used in technical textiles and industrial applications.

Sanathan Textiles operates a manufacturing facility in Silvassa. Its clients include Welspun India, Valson Industries, GM Fabrics, and Premco Global.

Sanathan Textiles IPO: Shareholding pattern

The company's promoters are Nimbus Trust, D&G Family Trust, A&J Family Trust, P&B Family Trust, Paresh Vrajlal Dattani, Ajay Vallabhdas Dattani, Anilkumar Vrajdas Dattani, and Dinesh Vrajdas Dattani. They held 100% of the shares before the IPO, while their post-issue shareholding details have yet to be disclosed.