Sanathan Textiles Share Price IPO listing: Sanathan Textiles made an impressive debut on the stock exchanges on today (December 27), as its shares opened at Rs 422 per share, a 31 per cent premium over the issue price of Rs 319.
The Sanathan Textiles IPO was opened for subscription from December 19 to December 23. The allotment of the shares was finalised on December 24. Furthermore, the price band of the issue was kept between the range of Rs 305 to Rs 321.
The company’s shares were listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) at a price above their issue price. The stock opened at Rs 419 on the BSE, showing a premium of Rs 102 (or 30.5 per cent) over the IPO price of Rs 321. Meanwhile, on the NSE, shares debuted at Rs 422.30, a premium of Rs 101.30 (31.5 per cent) from the IPO price.
Sanathan Textiles IPO – GMP
Ahead of its stock market debut, Sanathan Textiles shares were trading at Rs 408 in the grey market, signaling a premium of Rs 87 or 27.1 per cent over the issue price of Rs 321.
lso Read: 6 IPOs debuting on the stock market today: Check out the complete list and latest GMP ahead of their listing
Subscription Demand for Sanathan Textiles IPO
The Sanathan Textiles IPO, which was open for subscription between December 19 and 24, saw a massive response from investors. The issue was subscribed a 35.05 times, with total demand for 44.26 crore shares, compared to the 1.26 crore shares on offer.
The qualified institutional buyer (QIB) portion got subscribed 75.62 times, while the non-institutional investor portion was subscribed 42.18 times. Retail investors placed bids 8.84 times higher than the shares reserved for them.
Who Played a Key Role in the IPO?
KFin Technologies served as the registrar for the IPO. The book-running lead managers for the issue included Dam Capital Advisors (formerly IDFC Securities Ltd) and ICICI Securities.
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