Sanathan Textiles is into Industrial Textile Yarn sector and is looking raise funds through Fresh Issue and Offer For Sale
IPO Summary
Sanathan Textiles IPO is a public offering of shares by Paresh Vrajlal Dattani, Ajay Vallabhdas Dattani, Dinesh Vrajdas Dattani, Anilkumar Vrajdas Dattani, D&G Family Trust, P&B Family Trust, A&J Family Trust and Nimbus Trust. The IPO will open on December 19 and will close on December 23. The price band is ₹305 to ₹321 per share and the lot size is 46 shares. The issue size is ₹550. crore. The shares are expected to be listed on NSE, BSE on December 27 (^). Some additional information that you may find useful are: Revenue for FY24 at Rs2957.5 crores (v/s Rs3329.2/Rs3185.3 crores in FY23/FY22). EBITDA for FY24 at Rs226.5 crores (v/s Rs259.5/Rs537.6 crores in FY23/FY22). EBITDA margins for FY24 at 7.7% (v/s 7.8%/16.9% in FY23/FY22).: (**) - based on higher price band (^) indicative datePromoters of the company are Paresh Vrajlal Dattani, Ajay Vallabhdas Dattani, Dinesh Vrajdas Dattani, Anilkumar Vrajdas Dattani, D&G Family Trust, P&B Family Trust, A&J Family Trust and Nimbus Trust Currently promoters hold 97.55% stake in the company. While post-equity promoters stake will be 77.6%
- Company aims to raise between Rs 550 to 550 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Rs160 cr debt repayment/pre-payment 2) Rs140 cr investment towards debt repayment / pre-payment of its subsidiary company Sanathan Polycot and 3) General corporate Purpose
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 18-Dec-24.
- Price band for the IPO has been fixed at Rs 305 to 321 per share and bid lot are in multiple of 46 shares. The implied market cap post-issue at Rs 2,594 to 2,709 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on December 24 and share are expected to be listed on NSE, BSE on December 27.
- Company has direct peer competition in India'a Textile sector. In Listed space peers include K.P.R. Mill Ltd, Vardhman Textiles Ltd, Indo Count Industries Ltd., Filatex India Ltd., Garware Technical Fibres Ltd among others.
- DAM Capital, ICICI Securities has been appointed as Merchant Banker to the issue. KFin Technologies Ltd. has been appointed as official registrar of the issue.
Key Pointers of Sanathan Textiles IPO:
| Sanathan Textiles Limited IPO Snapshot | UdhyamPitch on X | |||
|---|---|---|---|
| Established | City | Sector | Sub-Sector |
| 2005 | Mumbai | Industrial | Textile Yarn |
| Issue | Issue Type | Tentative Listing Date | Listing at |
| IPO (Fresh+OFS) | Book Building | 27-Dec-24 | NSE, BSE |
| IPO Dates | Price Band (Rs/sh) | Face Value (Rs/sh) | Min Lot Qty |
| 19-Dec-24 to 23-Dec-24 | ₹ 305 to 321 per sh | ₹ 10 per sh | 46 sh and in multiples |
| Retail App (min) | Retail App (max) | Non-Retail (Rs2-10L App) | Non-Retail (>Rs10L min App) |
|
46 shares ₹ 14,766 |
598 shares up to ₹ 191,958 |
644 to 3,082 shares ₹ 206,724 to 989,322 |
3,128 shares and above ₹ 1,004,088 and above |
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
About Sanathan Textiles Limited
Established in 2005, Sanathan Textiles Limited is engaged in the business of manufacturing textile yarn, which is divided into three separate business verticals, consisting of: Polyester yarn products; Cotton yarn products; and Yarns for technical textiles and industrial uses finding application in multiple end-use segments including automotive, healthcare, construction, sports and outdoor, and protective clothing. Currently, all the three yarn verticals are housed under a single corporate entity. It had a market share of 1.7% in the overall Indian textile yarn industry in FY24.
Revenue for FY24 at Rs2957.5 crores (v/s Rs3329.2/Rs3185.3 crores in
FY23/FY22). EBITDA for FY24 at Rs226.5 crores (v/s Rs259.5/Rs537.6
crores in FY23/FY22). EBITDA margins for FY24 at 7.7% (v/s 7.8%/16.9% in
FY23/FY22).
About Industry
The global textile industry has grown consistently between CY2018 to CY2023, barring CY2020, which saw a decline due to Covid-19. Going ahead, the industry is expected to grow at a CAGR of 2.5 - 3.5% between CY2023 to CY2027 to reach ~USD 1,780-1,830 billion in CY2027. Indian textile and apparel industry which is estimated to be Rs. 9,450 – 9,550 billion as of Fiscal 2024, is projected to grow at a CAGR of 6.0-7.0% from Fiscal 2024 till Fiscal 2028 and reach a value of Rs. 12,500-12,700 billion.
| Sanathan Textiles Limited IPO Dates | UdhyamPitch on X | |
|---|---|
| Anchor Open | 18-Dec-24 |
| IPO Open | 19-Dec-24 |
| IPO Close | 23-Dec-24 |
| Allotment | 24-Dec-24 |
| Credit of Shares | 26-Dec-24 |
| Refund | 26-Dec-24 |
| Listing | 27-Dec-24 |
| Anchor Investor Lockin (50% of Anchor book investment) | |
| Anchor Investor Lockin (Balance 50% of Anchor book investment) | |
Kindly note UPI Mandate deadline is 5:00 pm IST on closing date. To avoid last minute issue, request you to approve UPI mandate before 4:00 pm IST on last day. In case, UPI mandate has not been approved during the prescribed time period, applications are liable to get rejected.
There are highly chances of variation in dates. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| Sanathan Textiles Limited IPO - Management Details: | |
|---|---|
|
Paresh Vrajlal Dattani, Chairman and Managing Director Aged 64 years, He has completed his degree in Science from University of Calcutta. He has been on the Board of the Company since October 10, 2005. He has several years of experience in the textile industry. |
|
|
Ajay Vallabhdas Dattani, Joint Managing Director He has a bachelor’s degree in commerce (honors) from the University of Calcutta. He has over 18 years of experience in the textile industry. |
|
|
Sanjay Anirudh Shah, Chief Financial Officer He has been associated with our Company since March 16, 2024. He is an associate member of The Institute of Chartered Accountants of India. He has passed the examination for bachelor’s degree in commerce and master’s degree in commerce from the University of Mumbai. Prior to joining company, he was associated with Yashraj Biotechnology Limited, The Bombay Dyeing and Manufacturing Company Limited, Shrenuj and Company Limited, ICICI Prudential Life Insurance Company Limited, Hutchison Essar Limited (now Vodafone Idea Limited), L&T Finance Limited and Kanyakumari Builders Private Limited. He has several of experience in the field of finance. |
|
|
Dsouza Jude Patrick, Company Secretary and Compliance
Officer He has been associated with company since November 2, 2021. He is an associate member of ‘The Institute of Company Secretaries of India’. He holds a bachelor’s degree in commerce and a bachelor’s degree in law from University of Mumbai. Prior to joining company, he worked in the corporate secretarial team of Tata Communications Limited. He has also handled the secretarial and legal work for Radhakrishna Foodland Group. He has over 8 years of experience in corporate secretarial and legal work which also includes CSR and Sustainability Development Projects. |
|
|
Varun P Dattani, Director – Export and Yarns for Technical
Textiles and Industrial Use |
|
Visit DRHP / RHP for more details on Board of Directors and
Management details.
| Sanathan Textiles Limited IPO - Details of Offer/Issue Breakup | UdhyamPitch on X | |||||
|---|---|---|---|---|---|
| Category | Quota (%) | No of Shares-Lower | No of Shares-Upper | Value (Rs Cr)-Lower | Value (Rs Cr)-Upper |
| QIB (Incl Anchor) | 50 | NA | 8,566,978 | NA | 275. |
| Non-Retail (NII) | 15 | NA | 2,570,093 | NA | 82.5 |
| Non-Retail (NII): >Rs10L | NA | 1,713,395 | NA | 55. | |
| Non-Retail (NII): Rs2L-Rs10L | NA | 856,698 | NA | 27.5 | |
| Retail | 35 | NA | 5,996,885 | NA | 192.5 |
| Employee | NA | . | . | ||
| Shareholder | NA | . | . | ||
| NA=Not Available or Not Calculated | Upper= Upper Price Band | Lower=Lower Price Band | |||||
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
Check IPO Allotment status of Sanathan TextilesIPO:
| Sanathan Textiles Limited - Anchor Lockin Dates and Details | |
|---|---|
| Anchor Investor Lockin (50% of Investment for 30 days) release of | |
| Anchor Investor Lockin (Balance Investment for 90 days) release of | |
Above information is automatically calculated based on estimations. Chances of errors/changes could be possible due to holidays and/or other conditions. Users are requested to Visit BSE, NSE, SEBI for more information or contact the Company/Merchant Banker/RTA for more information.
| Sanathan Textiles Limited - Documents | |
|---|---|
Disclaimer:
Above article only publishes details on the companies and about forthcoming / upcoming IPO' and are solely intended for educational purpose. We don't solicit or invite any interest of user to invest in any of the investment products. Please review DRHP/RHP/Prospectus for more details about the company, fundamentals and other details. Please visit respective sources to verify and know more details about the IPO. SME IPOs can be more volatile due to smaller market capitalization and liquidity. Prices may fluctuate significantly in response to market conditions. We advise users and/or investors to take opinion from certified and SEBI registered experts before taking any investment decisions.
| Source: SEBI, BSE, NSE |
|---|
FAQ
Posts
0 Comments