Shanti Spintex IPO GMP: Shanti Spintex Limited IPO GMP Price Today

Shanti Spintex Limited, a notable player in the textile industry, is making a significant move in the financial market with the launch of its SME Initial Public Offering (IPO) on the BSE SME platform. The IPO is set to open from December 19 to December 21, 2023, indicating a strategic step for the company in capitalizing on market opportunities.

Also See: All IPO GMP Price Today

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Shanti Spintex IPO Overview

The total issue size of the IPO is pegged at ₹31.25 Crore, which includes a Fresh issue of ₹12.43 Crore and an Offer for Sale (OFS) of ₹18.82 Crore. Each share has a face value of ₹10, with the issue price band ranging between ₹66 to ₹70 per share. Investors can apply for a minimum of one lot, which comprises 2000 shares.

Also See: Upcoming IPO in India

Shanti Spintex IPO Grey Market Premium

The Grey Market Premium (GMP) offers insights into the market’s expectations from an IPO before it is officially listed. However, as of December 27, 2023, the GMP for Shanti Spintex’s IPO stands at ₹15, indicating a neutral market sentiment.

Shanti Spintex IPO GMP

Here’s a snapshot of the recent Shanti Spintex IPO GMP: [Last Updated: 27 Dec, 2023; 09:05]

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
27-12-2023₹70₹1522800₹85 (21.43%)
26-12-2023₹70₹1522800₹85 (21.43%)
25-12-2023₹70₹1522800₹85 (21.43%)
24-12-2023₹70₹1522800₹85 (21.43%)
23-12-2023₹70₹1522800₹85 (21.43%)
22-12-2023₹70₹710600₹77 (10.00%)
21-12-2023₹70₹710600₹77 (10.00%)
20-12-2023₹70₹710600₹77 (10.00%)
19-12-2023₹70₹ (0%)
18-12-2023₹70₹ (0%)
17-12-2023₹70₹ (0%)
16-12-2023₹70₹ (0%)
15-12-2023₹70₹ (0%)
14-12-2023₹70₹ (0%)
13-12-2023₹70₹ (0%)

Understanding GMP

The Grey Market Premium (GMP) is a critical indicator in the pre-listing phase of an IPO. It represents the premium at which shares are traded in the grey market before they are officially listed on the stock exchange. This premium is a reflection of market sentiment and anticipation regarding the IPO’s performance post-listing.

Latest GMP Updates

Investors can check the live GMP status of all upcoming and closed IPOs on the IPO GMP Dashboard at Stockesta.com, which provides regular updates on IPO GMP performance.

Also Read: What is GMP in IPO: Understanding Grey Market Premium (GMP) in IPOs

Company Shanti Spintex Limited

Established in 2010, Shanti Spintex Limited began its journey as a textile trading company in 2014-15. It specializes in manufacturing a wide array of denim fabrics, such as power stretch spandex denim, knit denim, light denim, and more. The company’s production line is versatile, capable of producing grey fabrics in various styles like twill and satin weave.

Product Range

The company offers denim fabrics in various shades and weights, with a range that includes Indigo Blue, Sulphur Black, and more. The fabrics vary in weight from 4.50 Oz/sqm to 14.50 Oz/sqm and in widths from 62” to 78”.

Raw Materials and Processes

Shanti Spintex sources diverse types of yarns domestically, including cotton yarn, viscose yarn, and polyester-spandex. The dyeing and finishing processes are outsourced to third parties, ensuring high-quality end products.

Also Read: Benefits and Risks of Investing in IPOs

Strengths and Objectives

Strengths

  • Diverse range of denim fabrics
  • Stringent quality control
  • Experienced and dynamic management team

Objectives

The funds raised from the IPO will be utilized for:

  • Meeting working capital requirements
  • General corporate purposes

Also See: When Can a Company Go for IPO in India

IPO Timelines

  • SME IPO Open Date: December 19, 2023
  • SME IPO Close Date: December 21, 2023
  • Basis of Allotment Finalisation Date: December 22, 2023
  • Refunds Initiation: December 26, 2023
  • Credit of Shares to Demat Account: December 26, 2023
  • SME IPO Listing Date: December 27, 2023
Shanti Spintex IPO

Conclusion

The Shanti Spintex Limited IPO presents an exciting opportunity for investors to participate in the growth story of a leading textile manufacturer. However, it is crucial to note that investments in IPOs, especially based on GMP, come with their set of risks due to market volatility. Investors are advised to consider all factors and conduct thorough research before making an investment decision.

For further details and updates, visit Shanti Spintex’s official website.

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