Shanti Spintex IPO will open for subscription from 19 December 2023. The company aims for an issue size of ₹31.25 Cr through this IPO.
Company Overview
| Full name | Shanti Spintex Limited |
| Sector | Textile |
| Industry | Textile |
| Company Website | https://www.shantispintex.com/ |
About Company
Incorporated in 2010, Shanti Spintex manufactures various types of denim fabrics such as power stretch spandex denim, knit denim, lightweight denim, rigid denim, over-dyed denim, and flat finish 3/1 denim. The production facility can produce grey fabrics in various designs such as twill weave, knit dobby weave, structure dobby weave, broken twill weave, and satin weave.
The company offers denim fabrics in a diverse spectrum of shades such as indigo blue, IBST, sulphur black, sulphur grey, halogen blue, and ecru color which have weights ranging from 4.50 Oz/sq. yd to 14.50 Oz./sq. yd. and widths spanning from 62” (157cm) to 78” (198 cm). Its operations encompass the utilization of diverse types of yarns such as cotton yarn, ring yarn, viscose yarn, slub yarn, cotton spandex, polyester spandex, tencel, lyocell, etc.
Some of the major plant & machinery installed in its unit include 96 air-jet loom machines, centrifugal air compressors, air compressors, knotting machines, inspection and mending machines, hydro extractors, tumble dryers, lab washers, and lab fasteners.
The Objectives of the Issue
- To meet Working Capital requirements
- General Corporate Purposes.
Shanti Spintex IPO Timetable
| IPO Opening date | 19 December 2023 |
| IPO Closing | 21 December 2023 |
| Basis of Allotment | 22 December 2023 |
| Initiation Refund | 26 December 2023 |
| Credit to Demat Account | 26 December 2023 |
| Listing Date | 27 December 2023 |
Shanti Spintex IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹31.25 Cr – 4,464,000 shares |
| Fresh Issue | ₹18.82 Cr – 2,688,000 shares |
| Offer for sale | ₹12.43 Cr – 1,776,000 shares |
| Face value | ₹10 per share |
| Price Band | ₹66 to ₹70 per share |
| Lot size | 2000 Shares |
| Market Maker portion | 224,000 shares |
| Shareholding pre-issue | 14,200,000 |
| Shareholding post-issue | 16,888,000 |
| Listing Exchange | BSE SME |
Shanti Spintex IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4,000 | ₹280,000 |
Shanti Spintex IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Shanti Spintex Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 112.80 | 254.91 | 370.33 | 162.32 |
| Expenses | 108.25 | 249.50 | 356.57 | 155.20 |
| Net income | 3.38 | 4.87 | 10.13 | 5.24 |
Shanti Spintex Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 2.38 | 3.43 | 7.13 |
| PE ratio | – | – | 9.26 – 9.82 |
| RONW (%) | 8.16 | 10.53 | 18.07 |
| NAV | 29.13 | 32.55 | 39.46 |
| ROCE (%) | 6.19 | 6.03 | 10.12 |
| EBITDA (%) | 10.02 | 4.67 | 5.84 |
| Debt/Equity | 1.03 | 1.05 | 0.75 |
Company Promoters
- Bharat Bhushan Omprakash Agarwal
- Rikin Bharatbhushan Agarwal
Promoter Holding
| Pre Issue Share Holding | 87.49% |
| Post Issue Share Holding | 73.57% |
Shanti Spintex IPO Lead Manager(s)
HEM SECURITIES LIMITED
904, A Wing, Naman Midtown, Senapati Bapat Marg,
Elphinstone Road, Lower Parel, Mumbai-400013, India
Phone: +91- 022- 49060000
Email: ib@hemsecurities.com
Website: www.hemsecurities.com
Shanti Spintex Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: ssl.ipo@kfintech.com
Website: www.kfintech.com
Shanti Spintex Contact Details
SHANTI SPINTEX LIMITED
Sub Plot 1, Unit 1, Survey No. 297,
Dholi – Integrated Spinning Park Limited,
Dholi, Dholka, Ahmedabad, Gujarat – 382 240
Phone: +91-98258 01039
E-mail: info@shantispintex.com
Website: www.shantispintex.com
Shanti Spintex IPO Allotment Status
Shanti Spintex IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
Shanti Spintex IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
