Santhan Textiles made a great debut in the stock market. The company’s shares were listed at Rs 419.10 on BSE with a 31% premium and at Rs 422.30 on NSE with a 31.6% premium. However, after the initial rise, there was a decline in the stocks.
Softening of shares: decline after initial rise
- Minimum level:
- After listing, the stock slipped to Rs 382.85.
- Status at 10:40 am:
- The stock was trading 4% lower on BSE.
IPO details: Opened on 19 December
The IPO of Santhan Textiles opened on 19 December and closed on 23 December.
- IPO Size:
- Total size: Rs 500 crore.
- Fresh Share: 1.25 crore.
- Offer for Sale: 47 lakh shares.
- Price Band:
- The company fixed the price band of Rs 305-321 per share for the issue.
- Lot Size:
- 46 shares in one lot.
- Retail investors had to invest a minimum of Rs 14,766.
- Contribution of Anchor Investors:
- On December 18, the company raised Rs 165 crore through anchor investors.
Great performance in subscription
Santhan Textiles’ IPO received a strong response from investors.
- Total Subscription:
- The IPO was subscribed more than 36 times.
- Retail Category:
- It was subscribed more than 9 times in the retail category.
Company activities and international presence
- flagship product:
- Production of polyester yarn and supply of cotton yarn.
- Global reach:
- By 2023, the company exports its products to 29 countries.
