Shanti Spintex IPO entails to raise Rs 31.25 crores. The issue is a combination of fresh issue of 26.88 lakh shares aggregating to Rs 18.82 crores and offer for sale of 17.76 lakh shares aggregating to Rs 12.43 crores.
IPO opens
Dec 19, 2023
IPO Closes
Dec 21, 2023
IPO Size (Rs.)
₹31.25 Cr
IPO Size (shares)
4,464,000 shares
Breakup
Fresh issue ₹18.82 Cr & OFS ₹12.43 Cr
Face Value:
₹ 10
IPO Price in Rs :
₹66 to ₹70 per share
Minimum Lot
2000 Shares
Listing At
BSE SME
QIB
~50 %
NII Quota
~15%
Retail Quota
~35%
Lead Manager
Hem Securities Limited
Registrar
Maashitla Securities
Market maker
Hem Finlease
About Shanti Spintex:
Company manufactures various type of denim fabrics such as power stretch spandex denim, knit denim, light weight denim, rigid denim, over dyed denim and flat finish 3/1 denim. Our production facility has capability to produce grey fabrics in various designs such as twill weave, knit dobby weave, structure dobby weave, broken twill weave and satin weave. We offer denim fabrics in diverse spectrum of shades such as indigo blue, IBST, sulphur black, sulphur grey, halogen blue and ecru colour which has weights ranging from 4.50 Oz/sq. yd to 14.50 Oz./sq. yd. and widths spanning from 62” (157cm) to 78” (198 cm).
Financials: Shanti Spintex IPO
Particulars/ Rs Lacs
30-09-2023
31-03-2023
31-03-2022
31-03-2021
Total Income
10338.56
13500.99
10531.18
12402.88
Profit/(loss) after tax
931.07
761.56
188.37
86.32
Equity Share Capital
1064.31
295.17
222.04
222.04
Net Worth
5640.93
3120.32
1536.49
1348.12
Earnings per Share
9.62
8.84
2.83
1.3
Net Asset Value
58.3
36.22
23.07
20.24
Total Borrowings
2952.4
3356
2573.07
2673.16
Post issue Share Capital
1448
FV
10
IPO price
125
EPS Fy23
5.3
PE Fy23
23.8
EPS Fy24 (annualized)
12.9
PE Fy24 (annualized)
9.7
Market cap in Lacs
18,100.0
Market Cap/sales
1.3
Anchor: Shanti Spintex IPO
Shanti Spintex IPO: Salient Points
The company proposes to utilize the funds to meet Working Capital requirements.
Currently, derives almost 100% of revenue from customers in Gujarat.
It does outsourcing yarn dyeing and grey fabrics finishing processes to third parties.
Its financial are better than peers.
Shanti Spintex IPO is coming at a PE ratio of 11.6x(fy23 earnings) and 11.2x (fy24 annualized earnings)
I intend to apply in Shanti Spintex IPOsubject to availability of funds.
GMP as reported on social media has been around Rs. 7.
Hem securities is the Lead Manager to the issue. The IPOs lead managed by them have given a good return to the investors. These include names like Paragon Fine And Specialty Chemicals, E Factor Experiences Limited, Arabian Petroleum Limited, ,Saakshi Medtech and Panels Limited, Kahan Packaging Limited, Asarfi Hospital Limited, Kaka Industries, Green Chef, Vasa Denticity, Chaman Mettalics, Hemant Surgicals, Labelkraft, Concord Control Systems Limited, Earthstahl & Alloys Limited, Silicon Rental Solutions Limited, Krishna Defence and Allied Industries, Prevest Denpro Limited etc.
SME IPO are more risky than mainboard IPOs.
Standard disclaimer: I am not a SEBI registered analyst and above analysis is for educational purpose only. Iam a postgraduate in engineering & Management . I have in the past cleared some exams like NISM-Series-V-A: Mutual Fund Distributors Certification, NISM-Series-X-A: Investment Adviser (Level 1) Certification and NISM-Series-X-B: Investment Adviser (Level 2) Examination. This post is my view on the subject matter and is only academic and exploratory in nature. It is not meant to influence investment decisions of investors. I may have bias/vested interest in covered Stock/Mutual Funds/NCD etc. due to my own investment or leaning. Further my understanding of the areas on which I write may be imperfect or incomplete and data could be wrong due to limited time and resources at my disposal. Do check the data from company’s RHP and exchanges before making any decision. Please do your own due diligence as stock market/MF investments have high degree of inherent risk.
