Silvassa based Sanathan Textiles recently concluded its IPO with a price band of Rs 305-321 per share. Investors could apply for a minimum of 46 shares and their multiples to raise Rs 550 crore. The company is expected to finalize the basis of allotment for its IPO on Tuesday, December 24th. Successful bidders will receive notifications, alerts, or emails regarding the debit of their application funds or the revocation of their IPO mandate by Thursday, December 26th at the latest. The polyester yarn manufacturer witnessed strong investor interest during the IPO subscription period.

The IPO of Silvassa based Sanathan Textiles was open for subscription from December 19th to December 23rd. The company offered its shares at a price range of Rs 305-321 per share, with a minimum lot size of 46 shares. Through the IPO, Sanathan Textiles aimed to raise Rs 550 crore. This included fresh issuance of shares worth Rs 400 crore and an offer-for-sale (OFS) of up to Rs 150 crore by existing shareholders.

The IPO received strong investor interest, with an overall subscription of 35.12 times. Qualified Institutional Bidders (QIBs) showed the highest demand, subscribing their portion 75.62 times. Non-Institutional Investors (NIIs) also demonstrated significant interest, subscribing 42.21 times. Retail investors subscribed to their allocation 8.93 times during the three-day bidding period.

Following a successful IPO subscription, the grey market premium (GMP) for Sanathan Textiles has surged. The latest reports indicate a GMP of Rs 85-90, suggesting potential listing gains of 26-28% for investors. This marks a significant increase from the initial GMP of Rs 40 observed on the first day of the bidding period.

Established in 2005, Sanathan Textiles is a prominent player in the textile industry, specializing in the manufacturing of polyester and cotton yarns. The company's operations encompass three distinct business segments: polyester yarn, cotton yarn, and specialty yarns for technical textiles and industrial applications.

DAM Capital Advisors (formerly IDFC Securities) and ICICI Securities are the lead managers for the Sanathan Textiles IPO, while Kfin Technologies serves as the registrar. The company's shares are scheduled to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Friday, December 27th.