Mr. Paresh Dattani, CMD along with Dattani family & Dignitaries at the Listing ceremony of Sanathan Textiles Limited, NSE
Mumbai, December 27, 2024: Shares of Sanathan Textiles Limited debuted on the exchange listing at a 31% premium. The scrip listed Rs 419.10 per share on BSE, a premium of 30.56% and Rs 422.30 per share on NSE, a premium of 31.56%. The company’s share price closed at Rs 389 per share on the BSE, a 21.18% premium, and at Rs 393.90 per share on the NSE, a 22.71% premium.
As per NSE, the total quantity traded stood at 137.03 lakh shares, on BSE the total Quantity stood at 12.49 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 611.16 crore.
Mr. Paresh Dattani, CMD, Sanathan Textiles Limited said “We are deeply humbled and immensely grateful for the overwhelming trust and support shown by our investors. Today’s listing marks a significant milestone in our journey, and it would not have been possible without your confidence in our vision and strategy. As we step into this new chapter as a publicly listed company, we reaffirm our commitment to delivering value to our stakeholders, driving sustainable growth, and contributing to the broader economic landscape. A heartfelt thank you to our employees, partners, and everyone who has supported us in reaching this momentous occasion.”
The Market Capitalization of the Company at today’s closing price stood at Rs. 3283.32 Crore as per BSE and Rs. 3324.68 Crore as per NSE.
The company had offered Rs 550 crore issue for subscription from December 19 to December 23. This garnered substantial interest, and the offer was subscribed 36.9 times. Qualified Institutional Buyer and Non-Institutional Investors Portion was subscribed 79.59 times and 44.39 times respectively. Retail Portion was subscribed 9.31 times.
Sanathan Textiles Limited is engaged in the business of manufacturing textile yarn, from three business verticals, consisting of: Polyester yarn products; Cotton yarn products; and Yarns for technical textiles and industrial uses.
Sanathan Textiles is one of the few companies (amongst our peer group) in India with presence across the polyester, cotton, and technical textile (which find application in multiple end-use segments including automotive, healthcare, construction, sports and outdoor, and protective clothing) sectors and based on our operating income, we had a market share of 1.7% in the overall Indian textile yarn industry as of Fiscal 2024. (Source: CRISIL Report).
Currently, all the three yarn verticals are housed under a single corporate entity. This has facilitated our diversification into new segments which in turn has helped us in serving a large number of customers across various sectors. As on September 30, 2024, we have more than 3,200 active varieties of yarn products (i.e. yarn products manufactured by us during the period April 1, 2021 to September 30, 2024) and more than 45,000 stock keeping units (SKUs), and capability to manufacture a diversified product portfolio of more than 14,000 varieties of yarn products and more than 190,000 SKUs that are used in various forms and for varied end uses.
The company also has a strong focus on value-added products, including dope-dyed, superfine/micro, functional, industrial, technical yarns, cationic dyeable, and specialty yarns.
