IPO Details

Bidding Dates

18 Dec '23 - 20 Dec '23

Minimum Investment

₹140,000 / 1 Lots ( 2000 Shares )

Price Range

₹66 - ₹70

Maximum Investment

₹140,000 / 1 Lots ( 2000 Shares )

Retail Discount

Not Applicable

Issue Size

₹31.25 Cr

Investor category and sub category

Retail Individual Investors  |   Non-Institutional Investors  |   Qualified Institutional Buyers (QIB)   |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Dec 18, 2023

Closing Date

Dec 20, 2023

Basis of Allotment

Dec 21, 2023

Initiation of Refunds

Dec 25, 2023

Credit of Shares to Demat

Dec 25, 2023

Listing Date

Dec 26, 2023

UPI Mandate Expiry Date

Dec 20, 2023

IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Dec 18, 2023

2.08x 2.75x 1.84x 2.11x

Day 2Dec 19, 2023

4.27x 2.86x 2.81x 3.24x

IPO Subscription Live Status

Investor Category Subscription (Times)
Qualified Institutions Buyers 4.27
Non-Institutional Buyers 2.86
Retail Investors 2.81
Total 3.24

About Shanti Spintex Limited

Incorporated in 2010, Shanti Spintex Limited is involved in the manufacturing and selling of denim fabrics. In 2016, the company set up its fabric weaving unit at Dholi - Integrated Spinning Park, Dholka, Ahmedabad, on a plot area of 8,660 square metres. As of December 2023, the company has 96 air jet looms installed at their Dholi unit, with an annual installed capacity of weaving 1,92,72,000 metres of denim fabrics.

Shanti Spintex Limited manufactures different types of denim fabrics, including knit denim, power stretch spandex denim, rigid denim, lightweight denim, flat finish 3/1 denim and over-dyed denim. Their operations include various types of yarn like ring yarn, cotton yarn, viscose yarn, cotton spandex, slub yarn, tencel, polyester spandex, lyocell and more. The company procures yarn and grey fabrics from the domestic market. The grey fabrics are subsequently sent for finishing and sold to customers. The company’s primary source of revenue is from Gujarat-based customers, which includes wholesalers, manufacturers or traders.

The Indian textile industry is poised for robust expansion, driven by robust domestic consumption and increasing export demands. The textile and apparel sector is expected to reach US$ 190 billion by FY 2026. In October 2021, the government unveiled an ambitious objective of attaining US$ 100 billion in textile exports from India within the next five years. The ongoing process of urbanisation is anticipated to contribute to accelerated growth, influenced by evolving fashion preferences and trends. This outlook can be a positive opportunity for the company.

Shanti Spintex Limited IPO Details

Shanti Spintex Limited IPO Dates

Shanti Spintex Limited’s IPO will open on December 19, 2023, and close on December 21, 2023. The IPO will be listed on the BSE SME on December 27, 2023.

Shanti Spintex Limited IPO Price Band

Shanti Spintex Limited is a fresh IPO and Offer for Sale of up to 44,64,000 equity shares. The price of the IPO is not yet announced.

Shanti Spintex Limited IPO Lot Size

Shanti Spintex Limited’s IPO lot size is not yet announced.

Shanti Spintex Limited IPO Objectives

The objectives of Shanti Spintex Limited's IPO are listed below:

  • For general corporate purposes.
  • To fund the working capital requirements.

Peer Details

As per DRHP, the listed peers whose business portfolio is comparable to the company are as follows:

  • Jindal Worldwide Ltd
  • R&B Denims Limited
  • Manomay Tex India Limited
  • United Polyfab Gujarat Limited

How To Check the Shanti Spintex Limited Allotment Status?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app.
  • Go to the IPO Section and then to IPO Orders.
  • Select the individual IPO that you had applied for and check the allotment status.
  • Angel One will notify you of your IPO allotment status via push notification and email.
Open a demat account with Angel One to apply for the Shanti Spintex Limited IPO.

Contact Details of Shanti Spintex Limited IPO

  • Registered office: Sub Plot 1, Unit 1, Survey No. 297, Dholi - Integrated Spinning Park Limited, Dholi, Dholka, Ahmedabad, Gujarat – 382 240, India.
  • Phone: +91-98258 01039
  • E-mail: info@shantispintex.com

Company Financials

Particulars Year ending on March 31, 2023 (₹ lakhs) Year ending on March 31, 2022 (₹ lakhs) Year ending on March 31, 2021 (₹ lakhs)
Total Income 37,311.37 25,526.51 11,293.73
Profit After Tax (PAT) 1,012.81 486.59 337.53
Net Worth 5,603.93 4,622.73 4,136.14
Total Borrowings 4,177.66 4,868.64 4,278.83
EPS (in ₹) 7.13 3.43 2.38

Know before investing

Strengths

3
  1. The company has the capability of manufacturing a different range of denim fabrics through their in-house weaving unit.

  2. The company plans to expand their presence in new markets and reach a large population.

  3. They have a strong relationship with their suppliers and customers, which is an important factor for their business to keep up with the growth.

Risks

3
  1. The company’s business is vulnerable to changes in demand for denim-based apparel and shifts in consumer preferences. This can impact the operations and revenue of the company.

  2. The revenue of the company is highly dependent on certain customers, with whom the company does not have any firm agreement. Losing these customers can adversely impact their revenue.

  3. The company is dependent on a few suppliers for raw materials, with whom they don’t have long-term agreements. Losing these suppliers can adversely impact their operations.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Shanti Spintex Ltd IPO FAQs

What is Shanti Spintex Limited's IPO?

The Shanti Spintex Ltd IPO contains a fresh issue and Offer for Sale of up to 44,64,000 equity shares. The IPO will open on December 19, 2023.

When will Shanti Spintex Limited's IPO be allotted?

The Basis of Allotment will happen on Friday, December 22, 2023.

When will Shanti Spintex Limited's IPO open for subscription?

The IPO subscription window will open on Tuesday, December 19, 2023.

What minimum lot size can retail investors subscribe to?

The minimum lot size is not yet announced.

When will Shanti Spintex Limited list on exchanges?

Shanti Spintex Ltd IPO will be listed on the BSE SME on Wednesday, December 27, 2023.

How do I check the allotment status of the Shanti Spintex Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • Angel One will notify you of your IPO allotment status via push notification and email.

What would be the listing gains on the Shanti Spintex Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is December 27, 2023, for Shanti Spintex Ltd.

I have finished the application process for the Shanti Spintex Limited IPO, but the funds still need to be debited. What is the reason?

The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Shanti Spintex Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Shanti Spintex Limited using one PAN?

You can submit only one application using your PAN card.