Shanti Spintex IPO: Check Out Price Band, Reservation Details

Shanti Spintex, a denim fabrics manufacturer, initiated its IPO subscription on December 19, 2023. The scheduled conclusion date for it is December 21, 2023.

The company specializes in manufacturing various types of denim fabrics. It includes power stretch spandex denim, knit denim, lightweight denim, rigid denim, overdyed denim, and flat-finished 3/1 denim. 

Additionally, they produce gray fabrics employing a range of weaves like twill weave, knit dobby weave, structure dobby weave, broken twill weave, and satin weave. Shanti Spintex operates its manufacturing facility in Ahmedabad, Gujarat.

Price Band & Lot Size

Shanti Spintex has set its IPO price band at Rs 66 to Rs 70 per share, with a lot size of 2000 shares. For retail investors, the minimum investment required amounts to Rs 140,000.

Also Read: Happy Forgings IPO Sets Price Band at Rs 808-850

IPO Reservation Details

Shanti Spintex’s IPO comprises a total of 4,464,000 shares. The allocation breakdown is as follows: 848,000 shares (19 percent) for Qualified Institutional Buyers (QIBs), 636,000 shares (14.25 percent) for Non-Institutional Investors (NIIs), 1,484,000 shares (33.24 percent) for retail investors, and 1,272,000 shares (28.49 percent) allocated to anchor investors.

Book Running Lead Managers

The book running lead manager for the Shanti Spintex IPO is Hem Securities. Kfin Technologies serves as the IPO registrar.

Bharat Bhushan Omprakash Agarwal and Rikin Bharatbhushan Agarwal, the promoters of the company, are anticipated to experience a decrease in their ownership stake following the issue. Media reports suggest their combined stake will decrease from 87.49 percent to 73.57 percent after the IPO.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.