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Let’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

Shanti Spintex IPOIncorporated 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:

    1. Bharat Bhushan Omprakash Agarwal
    2. 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.[●]
    Net Issue to the Public Up to 42,40,000 Equity Shares aggregating up to Rs.[●]
    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
    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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