Shanti Spintex IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Dec 21, 2023Let’s have a detailed review of the company and analytics of the Shanti Spintex IPO release date, IPO offer price, subscription, Shanti Spintex Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 66 to Rs 70 |
| Listing At | BSE, SME |
| Min. Order Quantity | 2000 Shares |
| Listing Date | December 27, 2023 |
| Offer for Sale | Rs 1243 Lakh |
| Fresh Issue | Rs 1882 Lakh |
| IPO Size | Rs 3125 Lakh |
| Tick Size | 1 |
Shanti Spintex IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Shanti Spintex Share Price |
Shanti Spintex IPO – Summary
Incorporated in 2010, the Company is primarily engaged in the manufacturing and selling of denim fabrics. They began their business as a fabrics trading concern in the F.Y. 2014-15. In 2016, the Company established its fabric weaving unit at Dholi – Integrated Spinning Park, Dholka, Ahmedabad on a plot area measuring 8660 sq. mtrs.
As of the date of this Red Herring Prospectus, their Company has 96 airjet looms installed at the Dholi unit which has an annual installed capacity of weaving 1,92,72,000 mtrs. of denim fabrics.
The Promoter of this company is Bharat Bhushan Omprakash Agarwal and Rikin Bharatbhushan Agarwal. The lead manager of the issue is HEM SECURITIES LIMITED, and the Registrar of this issue is KFin Technologies Limited.
Shanti Spintex IPO Date
The opening and closing dates of the Shanti Spintex IPO are December 19, 2023, and December 21, 2023, respectively.
Shanti Spintex IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 19th Dec | 2.08x | 2.75x | 1.84x | 2.11x |
| 2nd Day – 20th Dec | 4.49x | 5.66x | 6.19x | 5.59x |
| 3rd Day – 21st Dec | 4.49x | 7.64x | 9.55x | 7.70x |
| Shares Offered or Net Issue | 848,000 | 636,000 | 1,484,000 | 4,464,000 |
The shares subscribed by the public will be updated here.
Shanti Spintex IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Shanti Spintex Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | December 22, 2023 |
| Refunds Initiation | December 26, 2023 |
| Credit of Shares to Demat Account | December 26, 2023 |
| Share Listing Date | December 27, 2023 |
Shanti Spintex IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 66 to Rs 70
Shanti Spintex IPO Equity Size
This Initial Public Issue of 4,464,000 Equity Shares of Rs.10 each for cash at a price of Rs 66 to Rs 70 per equity share aggregating to Rs.3125 Lakh.
Shanti Spintex IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 2,688,000 Equity Shares of Rs.10/ each.
Issue Size: 4,464,000 Equity Shares of Rs.10 each, aggregating to Rs.3125 Lakh
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Shanti Spintex IPO – Live Performance
The listing date of this IPO is December 27, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Shanti Spintex Share Price |
Shanti Spintex IPO Grey Market Premium
The Shanti Spintex Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Shanti Spintex IPO – Company Overview
They manufacture 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.
Their production facility has capability to produce grey fabrics in various designs such as twill weave, knit dobby weave, structure dobby weave, broken twill weave and satin weave.
They offer denim fabrics in a diverse spectrum of shades such as indigo blue, IBST, sulphur black, sulphur grey, halogen blue and ecru colour which have weights ranging from 4.50 Oz/sq. yd to 14.50 Oz./sq. yd. and widths spanning from 62”
Shanti Spintex IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | ||||
| 30-Sep-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets | 17457.31 | 17588.33 | 13631.33 | 11926.82 |
| *Total Revenue | 16237.63 | 37071.27 | 25526.51 | 11293.73 |
| Total Expense | 15519.72 | 35657.39 | 24949.71 | 10824.84 |
| Profit After Tax | 523.75 | 1012.81 | 486.59 | 337.53 |
Earnings per Equity Share (in Lakh)
| 30-Sep-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted | 3.69 | 7.13 | 3.43 | 2.38 |
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 1012.81 Lakh, Rs. 486.59 Lakh and Rs. 337.53 Lakh respectively.
Shanti Spintex IPO – Promoters
The Promoter of this company is:
- Bharat Bhushan Omprakash Agarwal
- Rikin Bharatbhushan Agarwal
List of Related Parties (Key Managerial Personnel)
- Bharat Bhushan Omprakash Agarwal, Chairman, Whole Time Director & CFO
- Rikin Bharatbhushan Agarwal, Managing Director
- Bhavik Rameshbhai Talati, Non-Executive Director
- Kruti Vyas, Independent Director
Shanti Spintex IPO – Promoters Holding
- Pre-Issue Share Holding – 87.49%
- Post-Issue Share Holding – 73.57%
Shanti Spintex IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 4,464,000 Equity Shares aggregating up to Rs.3125 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 2,24,000 Equity Shares aggregating up to Rs.[●] Lakh |
| Net Issue to the Public | Up to 42,40,000 Equity Shares aggregating up to Rs.[●] Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 14,84,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 6,36,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 1,42,00,000 Equity Shares |
| Equity Shares outstanding after the Issue | 1,68,88,000 Equity Shares |
Shanti Spintex IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- To meet Working Capital requirements
- General Corporate Purpose
Shanti Spintex IPO – Business Strategy
- Expand our domestic presence in existing and new markets
- Focus on consistently meeting quality standards
- Maintaining cordial relationship with our Suppliers, Customer and employees
- Continue to strive for cost efficiency
Shanti Spintex IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Capability to manufacture diverse range of denim fabrics through in-house weaving unit
- Stringent quality control mechanism ensuring standardized product quality
- Synergy of young and experienced management team with a committed employee base
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 7.13 | 18.07% | 39.46 |
| 31-Mar-22 | 3.43 | 10.53% | 32.55 |
| Mar-21 | 2.38 | 8.16% | 29.13 |
Shanti Spintex IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Shanti Spintex Limited | 10 | [●] | 7.13 | 18.07% | 37033.22 |
| Listed Peers | |||||
| Jindal Worldwide Ltd | 1 | 56.03 | 5.77 | 17.80% | 207001.40 |
| R&B Denims Limited | 2 | 17.35 | 2.21 | 19.48% | 26,277.39 |
Shanti Spintex IPO Lead Managers
| Lead Managers |
| HEM SECURITIES LIMITED 904, A Wing, Naman Midtown, Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai-400013, India Tel. No.: +91- 022- 49060000; Fax No.: +91- 022- 22625991 Email: ib@hemsecurities.com Investor Grievance Email: redressal@hemsecurities.com Website: www.hemsecurities.com Contact Person: Mr. Akun Goyal SEBI Regn. No. INM000010981 |
Shanti Spintex IPO Registrar to offer
| Registrar to the Offer |
| KFin Technologies Limited Address: Selenium Tower B, Plot No.31 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad 500032, Telangana,India Tel No.: +91 40 6716 2222 ; Facsimile: +91 40 6716 1563 Email: ssl.ipo@kfintech.com Contact Person: M.Murali Krishna Website: www.kfintech.com SEBI Registration Number: INR000000221 |
Shanti Spintex IPO – Other Details
- Statutory Auditor – M/s. Anil Shah & Co.
- Legal Counsel to the Company – J Mukherjee & Associates
- Bankers to the Company – State Bank of India
Shanti Spintex IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Shanti Spintex Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Shanti Spintex IPO Review FAQs
Check out various FAQs related to Shanti Spintex IPO:
What is the Issue Size of the Shanti Spintex IPO?
The Company is making an initial public offer of 4,464,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of the Shanti Spintex IPO?
The price band for this particular IPO ranges between Rs 66 to Rs 70. As far as the face value of the share is concerned, it is Rs. 10 per share.
What is the Shanti Spintex IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on December 19, 2023, while the closing date is set at December 21, 2023.
What is the Shanti Spintex IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on December 22, 2023, refund initiation is on December 26, 2023, credit of shares is on December 26, 2023, and share listing date is on December 27, 2023.
What is the Shanti Spintex IPO Listing Date?
Shares of this company shall be listed in the exchanges on December 27, 2023. The date, when the listing would be done, is stagnant on December 27, 2023.
Who is the Registrar of Shanti Spintex IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Shanti Spintex IPO?
Here are the promoters of this IPO – Bharat Bhushan Omprakash Agarwal and Rikin Bharatbhushan Agarwal. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Shanti Spintex IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Shanti Spintex IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Shanti Spintex Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Lakh is 1012.81, 2022 is 486.59, and 2021 is 337.53. PAT from Sep 2023 is 523.75.
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