Shanti Spintex IPO GMP offering will begin from December 19, 2023 and closes on December 21, 2023.
Using an IPO, Shanti Spintex is a BSE SME IPO is live now and it is seeking to raise Rs 31.25 crores. The price band is set at ₹66 to ₹70 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹140,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹280,000.
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Bidding Dates
December 19-21
Price Range
₹66 to ₹70 per share
Face Value
₹10 per share
GMP
15
Shanti Spintex IPO GMP
The Shanti Spintex Limited IPO GMP is ₹15.
IPO Overview
The Shanti Spintex IPO is a book-built offering for Rs 31.25 crores. The offering consists of a fresh issue of 26.88 lakh shares worth Rs 18.82 crores and an offer for sale of 17.76 lakh shares worth Rs 12.43 crores. The Shanti Spintex IPO goes on sale on December 19, 2023, and closes on December 21, 2023. The Shanti Spintex IPO allotment is expected to be completed on Friday, December 22, 2023. The Shanti Spintex IPO will be listed on the BSE SME on Wednesday, December 27, 2023.
The pricing range for the Shanti Spintex IPO is established at 66 to 70 cents per share. A lot size of 2000 shares is required for an application. Retail investors must make a minimum commitment of $140,000. For HNI, the minimum lot size investment is two lots (4,000 shares), totaling $280,000. The company’s manufacturing plant is located in Ahmedabad, Gujarat, and is 8660 square metres in size. The plant includes 96 airjet weaving machines capable of producing 1,92,72,000 metres of denim fabric.
Shanti Spintex IPO Details
| IPO Date | December 19, 2023 to December 21, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹66 to ₹70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 4,464,000 shares (aggregating up to ₹31.25 Cr) |
| Fresh Issue | 2,688,000 shares (aggregating up to ₹18.82 Cr) |
| Offer for Sale | 1,776,000 shares of ₹10 (aggregating up to ₹12.43 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 14,200,000 |
| Share holding post issue | 16,888,000 |
| Market Maker portion | 224,000 shares |
Shanti Spintex Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 112.80 | 254.91 | 370.33 |
| Expenses | 108.25 | 249.50 | 356.57 |
| Net income | 3.38 | 4.87 | 10.13 |
Shanti Spintex IPO Dates & Listing Performance
| IPO Open Date | Tuesday, December 19, 2023 |
| IPO Close Date | Thursday, December 21, 2023 |
| Basis of Allotment | Friday, December 22, 2023 |
| Initiation of Refunds | Tuesday, December 26, 2023 |
| Credit of Shares to Demat | Tuesday, December 26, 2023 |
| Listing Date | Wednesday, December 27, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 21, 2023 |
Company Profile
Shanti Spintex Limited, founded in 2010, manufactures and sells denim fabrics. Power stretch spandex denim, knit denim, lightweight denim, stiff denim, overdyed denim, and flat-finished 3/1 denim are all manufactured by Shanti Spintex. These fabrics come in a variety of colours, including Indigo Blue, IBST, Sulphur Black, Sulphur Grey, Halogen Blue, and Ecru, with weights ranging from 4.50 Oz/sq. yd. to 14.50 Oz/sq. yd. and widths ranging from 62″ (157 cm) to 78″ (198 cm).
Registrar Info
| Name | KFIN TECHNOLOGIES LIMITED |
| Phone number | 914067162222 |
| Email ID | ssl.ipo@kfintech.com |
| Website | www.kfintech.com |
Contact Details
| Name | SHANTI SPINTEX LIMITED |
| Phone number | +91-98258 01039 |
| Email ID | info@shantispintex.com |
| Website | shantispintex.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
