The impending initial public offering (IPO) of Sanathan Textile, a yarn manufacturer, has set the price range between ₹305 and ₹321 per equity share, with a face value of ₹10 apiece. The face value of the equity shares is 30.50 times the floor price and 32.10 times the cap price.
Thursday, December 19, is the opening day of the Sanathan Textile IPO, which is set to close on Monday, December 23. On Wednesday, December 18, the anchor investor auction will begin. A minimum of 46 shares may be purchased by investors in a single lot, and then in multiples.
The Sanathan Textile initial public offering (IPO) consists of a 400-crore fresh issue and a 150 crore offer for sale (OFS) by the promoter selling shareholders, for a total issue size of 550 crore.
Sonali Ajaykumar Dattani, Dattani Dineshkumar Vrajdas HUF, Beena Paresh Dattani, Anilkumar Vrajdas Dattani HUF, Vajubhai Investments Private Limited, Paresh Vrajlal Dattani, Ajay Vallabhdas Dattani, and Anilkumar Vrajdas Dattani are the promoter selling shareholders in the OFS.
The firm intends to use the additional cash from the IPO for general corporate objectives, repayment of some of the company’s borrowings, and investment in a subsidiary for payback of some of the subsidiary’s borrowings.
