About Shanti Spintex Limited
Shanti Spintex Limited is launching its IPO. The offer opens for subscription on 19th December 2023 and will close on 21st December 2023.
Disclaimer: This stock will trade with a lot size of 2000 shares in the SME segment on listing.
What does Shanti Spintex Limited do?
Shanti Spintex Limited, established in 2010, specializes in manufacturing and selling denim fabrics. Initially starting as a fabrics trading concern in the fiscal year 2014-15, it expanded by setting up a fabric weaving unit in 2016 at Dholi – Integrated Spinning Park in Ahmedabad. This unit currently houses 96 air-jet looms, producing 1,92,72,000 meters of denim fabrics annually by interlacing yarns at right angles.
The manufacturing process involves utilizing different yarn types like cotton, ring, viscose, slub, cotton spandex, polyester spandex, tencel, and lyocell, procured from the domestic market. They also procure grey fabrics from the market, send them for finishing, and sell them to customers. They outsource yarn dyeing and grey fabric finishing processes to third parties.
Currently, their revenue mainly comes from customers in Gujarat, comprising manufacturers, wholesalers, or traders, making up almost 100% of their current revenue stream.
Range of denim fabrics:
- Power stretch spandex denim
- Knit Denim
- Light Weight denim
- Rigid denim
- Over Dyed denim
- Flat finish 3/1 denim
Schedule of Shanti Spintex Limited IPO
| Issue Period | 19th December to 21st December 2023 |
| Deadline for accepting UPI mandate | Until 5 PM on the issue closing day |
| Finalization of Allotment | December 22, 2023 |
| Initiation of Refunds | December 26, 2023 |
| Credit of Shares | December 26, 2023 |
| Date of Listing | December 27, 2023 |
| Mandate end date | January 05, 2024 |
| Anchor Investors Lock-In End Date (50% of the investment) | January 21, 2024 |
| Anchor Investors Lock-In End Date (Remaining investment) | March 21, 2024 |
How to apply to the Shanti Spintex Limited IPO?
You can apply for the Shanti Spintex Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
How to check the allotment status for Shanti Spintex Limited IPO?
You can check the allotment status for the Shanti Spintex Limited IPO on the website of the Registrar and Transfer agent. Alternatively, you can also check the allotment status on the NSE website.