Sanathan Textiles IPO: Should you subscribe? Here's what Anil Singhvi suggests
The issue towards its bid closure time has been subscibed 5.21 times, with the non-institutional investor class leading the bids.
As the subscription of Sanathan Textiles draws to a close today and the issue has already garnered a total subscription of 5.21 times as of 1:33 pm, here's what Anil Singhvi recommended for the issue.
Sanathan Textiles IPO: Raises Rs 1,621 crore from anchor investors
Sanathan Textiles IPO: Ahead of its issue, the company mopped up Rs 165 crore from anchor investors including the likes of BI Mutual Fund (MF), Nippon India MF, HDFC MF, Kotak MF, Bandhan MF, SBI General Insurance Company, Societe Generale, and PineBridge Global Funds among others.
Sanathan Textiles IPO: Issue details
Sanathan Textiles IPO: The Rs 550 crore IPO comprises a fresh issue component of Rs 400 crore and an offer for sale (OFS) of Rs 150 crore. The price band is set at Rs 305-Rs 321 per share, valuing the company at Rs 2,709 crore at the upper end.
Sanathan Textiles IPO: Should you bid?
Sanathan Textiles IPO: Zee Business Managing Editor Anil Singhvi recommends subscribing to the issue for the long term.
Sanathan Textiles IPO: Positives
Sanathan Textiles IPO: Here are some of the positives as listed out by Singhvi:
- Experienced promoters
- Strong presence in different kind of yarns
- Good growth outlook
Sanathan Textiles IPO: Negatives
Sanathan Textiles IPO: Singhvi held that valuations of the IPO are reasonable and are neither expensive nor very attractive.
Sanathan Textiles IPO: Post issue promoter holding
Sanathan Textiles IPO: Post the offer, the promoter shareholding in the company will be reduced to 77.6 per cent.
Sanathan Textiles IPO: Allotment date
Sanathan Textiles IPO: The allotment for Sanathan Textiles is expected to be finalized on Tuesday, 24 Dec 2024.
Sanathan Textiles IPO: Listing date
Sanathan Textiles IPO: The shares of Sanathan Textiles will likely debut on December 27, 2024 (Friday).
Sanathan Textiles IPO: About the company
Sanathan Textiles IPO: The company operates across the polyester, cotton, and technical textile sectors, as outlined in the CRISIL Report. At present, all of the three yarn verticals are consolidated within a single corporate entity.