Tue Dec 24 17:40:00 UTC 2024: ## Sanathan Textiles IPO Oversubscribed 35 Times

**Mumbai, December 23, 2024** – The initial public offering (IPO) of Sanathan Textiles, a leading manufacturer of polyester and other textile yarns, concluded today with overwhelming response. The ₹550 crore IPO, which opened on December 19th, was subscribed a remarkable 35.07 times.

The book-built issue comprised a fresh issue of ₹400 crore and an offer for sale of ₹150 crore, with shares priced between ₹305 and ₹321. The company, a global supplier of cotton, polyester, and technical textile yarns across three business verticals, will use the net proceeds to repay borrowings, invest in its subsidiary, Sanathan Polycot Private Limited, and for general corporate purposes.

Sanathan Textiles boasts a diverse clientele of 2,588 customers (between April 1, 2020 and December 31, 2023) across various sectors, including apparel, home furnishings, and automotive. The company emphasizes quality control through its in-house testing facility and leverages technology for efficient production. Share allotment is scheduled for December 24th, with listing on the BSE and NSE expected on December 27th. Dam Capital Advisors Ltd and ICICI Securities Limited acted as book-running lead managers, while Kfin Technologies Limited served as the registrar.

**Disclaimer:** This news is solely for educational purposes. The securities/investments quoted here are not recommendatory.

Read More