The Shanti Spintex IPO, a book-built issue of Rs 31.25 crores, comprises a fresh issue of 26.88 lakh shares amounting to Rs 18.82 crores and an offer for sale of 17.76 lakh shares totaling Rs 12.43 crores.
The subscription period for the IPO is from December 19, 2023, to December 21, 2023. The allotment is expected to be finalized on Friday, December 22, 2023, and the tentative listing date on BSE SME is set for Wednesday, December 27, 2023.
The IPO price band is fixed at ₹66 to ₹70 per share, and the minimum lot size for an application is 2000 shares. Retail investors are required to make a minimum investment of ₹140,000. For High Net Worth Individuals (HNI), the minimum lot size is 2 lots (4,000 shares), amounting to ₹280,000.
Hem Securities Limited is the book running lead manager, Kfin Technologies Limited is the registrar, and Hem Finlease is the market maker for the Shanti Spintex IPO.
**Shanti Spintex IPO Details:**
– IPO Date: December 19, 2023, to December 21, 2023
– Listing Date: [not specified]
– 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 (aggregating up to ₹12.43 Cr)
– Issue Type: Book Built Issue IPO
– Listing At: BSE SME
– Shareholding pre-issue: 87.49%
– Shareholding post-issue: 73.57%
– Market Maker portion: 224,000 shares by Hem Finlease
**Shanti Spintex IPO Reservation:**
– QIB: Not more than 50% of the Net Issue
– Retail: Not less than 35% of the Net Issue
– NII (HNI): Not less than 15% of the Net Issue
**Shanti Spintex IPO Timeline (Tentative Schedule):**
– 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
**Shanti Spintex IPO Lot Size:**
Investors can bid for a minimum of 2000 shares and in multiples thereof. The table below depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
– Retail (Min): 1 lot (2000 shares) – ₹140,000
– Retail (Max): 1 lot (2000 shares) – ₹140,000
– HNI (Min): 2 lots (4000 shares) – ₹280,000
**Shanti Spintex Limited Financial Information (Restated):**
Between September 30, 2023, and March 31, 2022, Shanti Spintex Limited experienced a 45.23% increase in revenue and a 108.14% rise in profit after tax (PAT). Key performance indicators include a P/E of 9.81, post P/E of 11.67, ROE of 19.81%, ROCE of 10.12%, Debt/Equity of 0.75, EPS of ₹7.13, and RoNW of 18.07%.
**Objects of the Issue (Shanti Spintex IPO Objectives):**
The funds raised through the Fresh Issue will be utilized for:
1. Meeting Working Capital requirements
2. General Corporate Purposes
