Shanti Spintex IPO: The issue was 52% subscribed so far on the first day; Retail share booked 92%

Shanti Spintex IPO: The initial public offering (IPO) of denim fabric manufacturer Shanti Spintex Ltd. was opened for subscription today, December 19th. Shanti Spintex's IPO is an SME IPO and a book-built offering that will close on December 21st.

The allotment of Shanti Spintex's IPO is expected to be completed on December 22, 2023 and the shares will be listed on the BSE SME. The provisional listing date is December 27th.

Also Read: India Shelter IPO allotment explained: Latest GMP, how to check status online. Listing expected tomorrow

The company is planning an increase ₹31.25 crore from the IPO, which is a combination of fresh issue of 26.88 lakh shares totaling ₹18.82 Crore and an Offer for Sale (OFS) totaling 17.76 lakh shares ₹12.43 crore.

The price range for Shanti Spintex's IPO is at ₹66 to ₹70 per share. The lot size is 2000 shares and the minimum investment amount required for private investors is ₹140,000.

The book running lead manager of the Shanti Spintex IPO is Hem Securities while Kfin Technologies is the IPO registrar.

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Shanti Spintex IPO Subscription Status

Shanti Spintex's IPO has been 52% subscribed so far on December 19, the first day of the bidding process. The public issue received bids for 15.54 lakh shares as against 29.68 lakh shares in the offer, according to data available till 1 pm.

The IPO has so far received 92% subscription in the retail category and 29% in the non-institutional investor (NII) category.

Also Read: Motisons Jewelers IPO Day 2 LIVE: Issue booked 30.74 times so far; Check live subscription status, GMP and other details

Shanti Spintex IPO GMP today

Shanti Spintex IPO GMP today or gray market premium today ₹0, according to market observers. This indicates that Shanti Spintex shares are trading at neither a premium nor a discount on the gray market.

Read all the news about the IPO here

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