At a 31% premium, Sanathan Textiles Limited’s shares had their exchange debut.
The scrip floated at a premium of 30.56% on the BSE of Rs 419.10 per share and 31.56% on the NSE of Rs 422.30 per share. On the BSE, the company’s share price finished at Rs 389 per share, which was 21.18% higher than the closing price on the NSE, which was Rs 393.90 per share, which was 22.71% higher.
The entire amount traded on the BSE was 12.49 lakh shares, while the total quantity traded on the NSE was 137.03 lakh shares. On the first day, the total turnover (BSE+NSE) was Rs 611.16 crore.
Sanathan Textiles Limited’s CMD, Mr. Paresh Dattani, stated: “We are incredibly appreciative and humbled by the tremendous faith and support that our investors have shown us. Our journey has reached a major turning point with today’s listing, which would not have been achievable without your faith in our plan and vision. We reaffirm our dedication to providing value to our stakeholders, promoting sustainable growth, and influencing the overall state of the economy as we embark on this new chapter as a publicly traded business. We would like to express our sincere gratitude to our staff, partners, and everyone else who helped us achieve this significant milestone.
At today’s closing price, the company’s market capitalization was Rs. 3283.32 crore according to the BSE and Rs. 3324.68 crore according to the NSE.
From December 19 to December 23, the business announced a Rs 550 crore issuance for subscription. There was a lot of interest in this, and 36.9 subscriptions were made. The portion for qualified institutional buyers and non-institutional investors received 79.59 and 44.39 subscriptions, respectively. 9.31 subscriptions were made to Retail Portion.
Sanathan Textiles Limited is a textile yarn manufacturer that operates in three business verticals: technical textile and industrial yarns; cotton yarn goods; and polyester yarn products.
As one of the few companies in our peer group in India with a presence in the polyester, cotton, and technical textile sectors—all of which find applications in a variety of end-use segments, such as automotive, healthcare, construction, sports and outdoor, and protective clothing—Sanathan Textiles held a 1.7% market share in the Indian textile yarn industry as of Fiscal 2024, based on operating income. The CRISIL Report is the source.
At the moment, a single corporate entity houses all three yarn sectors. This has made it easier for us to diversify into new markets, which has allowed us to serve a wide range of clients in different industries. As of September 30, 2024, we have over 45,000 stock keeping units (SKUs) and over 3,200 active yarn product varieties (i.e., yarn products produced by us between April 1, 2021, and September 30, 2024). We are also able to manufacture a diverse product portfolio that includes over 14,000 yarn product varieties and over 190,000 SKUs that are utilized in a variety of ways and for a wide range of end uses.
Value-added goods, such as dope-dyed, superfine/micro, functional, industrial, technical, cationic dyeable, and specialty yarns, are another area of emphasis for the firm.
