Sanathan Textiles, a yarn manufacturer, is currently in the last day of its IPO with moderate interest from retail investors. The IPO, valued at ₹550 crore, has been subscribed 1.45 times overall, with bids for 1.80 crore shares against 1.26 crore shares on offer.
The IPO consists of a fresh issue of ₹400 crore and an offer-for-sale of shares worth ₹150 crore by the promoters and promoter group entities. Retail investors have shown higher interest, with the retail portion being subscribed 2.15 times, while non-institutional investors have subscribed 1.53 times.
Sanathan Textiles plans to utilize the funds raised from the IPO for payment of debt and investments in its subsidiary. The company is engaged in manufacturing textile yarn, catering to various sectors such as automotive, healthcare, construction, sports, and protective clothing.
Anchor investors have already shown interest in the IPO, with the company raising ₹165 crore from them. The equity shares are proposed to be listed on both the BSE and NSE.
Overall, Sanathan Textiles’ IPO has garnered moderate success, with retail investors showing significant interest. The company’s strong fundamentals and growth prospects make it an attractive investment opportunity in the textile industry.
