Sanathan Textiles IPO allotment: Check application status, latest GMP & listing date

Sanathan Textiles is likely to finalize the basis of allotment of its shares on Tuesday, December 24. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Thursday, December 26. The polyester yarn manufacturer saw a strong response from the investors during the bidding process.

The IPO of Silvassa-based Sanathan Textiles was open for bidding between December 19 and December 23. It had offered its shares in the price band of Rs 305-321 per share with a lot size of 46 shares. The company raised a total of Rs 550 crore via IPO, which included a fresh share sale of Rs 400 crore and offer-for-sale (OFS) of up to equity shares worth Rs 150 crore.

The issue was overall subscribed a solid 35.12 times. The allocation for the qualified institutional bidders (QIBs) was subscribed 75.62 times The portion allocated for non-institutional investors (NIIs) was subscribed 42.21 times. Allocations for retail investors were booked 8.93 times during the three-day bidding process.

The grey market premium (GMP) of Sanathan Textiles has risen following a decent bidding for the pharma player. Last heard, the company was commanding a premium of Rs 85-90 in the unofficial market, suggesting a listing gains of around 26-28 per cent for the investors. The GMP stood at Rs 40 on the first day of the bidding.

Incorporated in 2005, Sanathan Textiles is a polyester yarn manufacturer and a global supplier of cotton yarn. The company's business is divided into three separate yarn business verticals, consisting of polyester yarn products, cotton yarn products, and yarns for technical textiles and industrial uses.

DAM Capital Advisors (Formerly IDFC Securities) and ICICI Securities are the book running lead managers of the Sanathan Textiles IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE on, Friday, December 27.

Investors, who had bid for the issue of Sanathan Textiles, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Sanathan Textiles Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of KFin Technologies Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.