Sanathan Textiles IPO subscribed 72% on Day 2 so far. Check GMP, review and other details
IPO) of Sanathan Textiles was subscribed 72% on Friday by 11:18 AM on its second day of bidding. The Rs 550 crore issue, which is a mix of fresh equity sale of Rs 400 crore and an offer for sale (OFS) of 46.72 lakh shares, will be available for bidding till December 23.
Subscriptions from retail investors stood at 1.19 times, while the non institutions investors had subscribed by 60% on the second day of bidding. The qualified institutional buyers had not made any bids yet.
The proceeds from the offer will be used for repayment of debt, investment in their subsidiary Sanathan Polycot and general corporate purposes.
Sanathan Textiles IPO: price band
The company has fixed a price band of Rs 305-321 per share, where investors can bid for 46 shares in one lot and in multiples thereafter.
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