Sanathan Textiles IPO price band fixed at ₹305-321 per share. Check details | Stock Market News
Sanathan Textile IPO: Yarn manufacturer Sanathan Textile has fixed the price band for its upcoming initial public offering (IPO) at ₹305 to ₹321 per equity share of face value of ₹10 each.
The floor price and cap price are 30.50 times and 32.10 times the face value of the equity shares, respectively.
Sanathan Textile IPO is scheduled to open on Thursday, December 19, and close on Monday, December 23. The bidding for anchor investors will open on Wednesday, December 18.
Investors can bid for a minimum of 46 shares in one lot and in multiples thereafter.
Sanathan Textile IPO is a mix of fresh issue of ₹400 crore and an offer for sale (OFS) of ₹150 crore by promoter selling shareholders, aggregating to the issue size of ₹550 crore.
Paresh Vrajlal Dattani, Ajay Vallabhdas Dattani, Anilkumar Vrajdas Dattani, Dinesh Vrajdas Dattani, Vajubhai Investments Private Limited, Vallabhdas Dattani HUF, Sonali Ajaykumar Dattani, Dattani Dineshkumar Vrajdas HUF, Beena Paresh Dattani, and Anilkumar Vrajdas Dattani HUF are the promoter selling shareholders in the OFS.
The company plans to utilise the fresh funds from the IPO for repayment of certain borrowings availed by the company, investment in a subsidiary for repayment of certain borrowings availed by the subsidiary, and general corporate purposes.
