Tue Dec 24 09:52:52 UTC 2024: **Sanathan Textiles IPO Oversubscribed, Allotment on Dec. 24**

MUMBAI, INDIA – December 24, 2023 – The initial public offering (IPO) of Sanathan Textiles Ltd. has been massively oversubscribed, closing 35.12 times oversubscribed after a three-day bidding period. The ₹550 crore IPO, comprising a ₹400 crore fresh issue and a ₹150 crore offer for sale, saw strong demand across investor categories. Qualified Institutional Buyers (QIBs) alone subscribed 75.62 times their allotted portion, while non-institutional investors and retail investors subscribed 42.21 times and 8.93 times, respectively.

Share allotment is scheduled for December 24th, with shares expected to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on December 27th. Investors can check their allotment status on the websites of BSE and registrar KFin Technologies Ltd.

The IPO’s price band was set at ₹305-₹321 per share. While unofficial grey market premiums suggest a potential listing gain of over 28%, exceeding ₹411 per share, investors are cautioned that these are speculative and not official price quotes.

Sanathan Textiles, founded in 2005, manufactures polyester and cotton yarn for various industries, including automotive, healthcare, and protective clothing. The company plans to use the proceeds from the fresh issue to repay debt and for general corporate purposes.

**Disclaimer:** Investing in IPOs involves market risk. Consult a financial advisor and thoroughly review the red herring prospectus before investing.

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