Shanti Spintex shares lists at ₹76 apiece on BSE SME, a premium of over 8%

Shanti Spintex IPO Listing: Shanti Spintex shares were listed at ₹76.00 apiece on BSE SME, a premium of 8.57% to the issue price of ₹70 per share.

Shanti Spintex is an SME company and the shares are listed on the BSE SME platform.

The initial public offering (IPO) of Shanti Spintex Ltd opened on December 19 and concluded on December 21. Shanti Spintex IPO allotment was finalised on December 22.

The company raised ₹31.25 crore from the IPO which comprised a fresh issue of 26.88 lakh equity shares aggregating to ₹18.82 crore and an offer for sale (OFS) of 17.76 lakh shares aggregating to ₹12.43 crore. Shanti Spintex IPO price band was ₹66 to ₹ ₹70 per share.

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Shanti Spintex IPO received strong demand from investors as the issue was subscribed 27.38 times in total. The public issue received 22.01 times subscription in the retail category, 14.34 times in Qualified Institutional Buyers’ (QIB) category, and 57.28 times in the Non-Institutional Investors’ (NII) category.

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

The company proposes to utilize the funds raised from the fresh Issue towards funding working capital requirements and general corporate purposes.

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