Sanathnagar Enterprises Limited announced the final subscription status for its initial public offer (IPO), which was subscribed 95.58 times. The offer, which opened for bidding on Wednesday, July 8, 2026, and closed on Friday, July 10, 2026, received 37,40,929 applications for 1,48,35,89,892 equity shares. The anchor investor portion was finalized at ₹419 per equity share, with 46,28,877 shares allotted aggregating to ₹1,33,94,89,453.

Subscription Details

The issue saw strong participation across investor categories. Qualified Institutional Bidders (QIBs) excluding anchor investors applied for 92,64,78,726 shares, subscribing their reserved portion significantly. Non-Institutional Bidders and Retail Individual Bidders also contributed to the heavy oversubscription. The basis of allotment was finalized in consultation with the National Stock Exchange (NSE) on July 13, 2026.

Allotment Summary

The final demand table indicated that 90.50% of the total bids came at the cut-off price or ₹419 per share. Retail Individual Bidders were allotted shares on a proportionate basis, with the category subscribed 26.99 times. Non-Institutional Bidders in the higher bracket (more than ₹10 lakh) saw a subscription of 181.77 times. The QIB category, excluding anchors, was subscribed 1,238.44 times the net QIB portion. A total of 30,87,61,019 equity shares were allotted to QIBs, with Mutual Funds receiving 50% of the net QIB portion.

Sanathnagar Enterprises Limited’s Board has approved the reclassification of certain promoters holding 2.28% of the paid-up equity share capital to the public category under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The decision, taken on July 14, 2026, involves N.P.S. Shinh, Manita Shinh, and Continuous Forms (Calcutta) Limited, collectively referred to as the Outgoing Promoters. The reclassification is subject to obtaining a No Objection Certificate from BSE Limited and approval from the company’s shareholders via an ordinary resolution.

The Board reviewed applications from the Outgoing Promoters, who confirmed they meet the conditions specified in Regulation 31A (3)(b). These include not holding more than 10% of the total voting rights, not exercising control over the company’s affairs, and not holding special rights or privileges. The applicants also confirmed they are not wilful defaulters or fugitive economic offenders and have no pending regulatory action against them.

Shareholding Details

The reclassification affects a total of 72,090 equity shares. The specific holdings of the Outgoing Promoters are detailed below:

The Board noted that the Outgoing Promoters have not been involved in the management or held executive positions in the company since 2010. The company confirmed that it is compliant with the minimum public shareholding requirements under Regulation 38 of the Listing Regulations. Additionally, the company stated that its share trading has not been suspended and there are no outstanding dues to SEBI, stock exchanges, or depositories.

Conditions for Reclassification

The Outgoing Promoters have agreed to comply with the conditions of Regulation 31A (3)(b) indefinitely regarding voting rights, control, and special rights. They must also refrain from being represented on the Board or acting as Key Managerial Personnel for a minimum period of three years from the date of reclassification. Failure to comply with these conditions will result in their automatic reclassification as promoters or members of the promoter group.