Sanstar Limited IPO
GMP, Subscription, Price, Dates & Financial Details
Established in 1982, Sanstar Limited manufactures plant-based specialty products and ingredient solutions in India for food, animal nutrition, and other industrial applications. The company’s products include liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native…
Open Date
Fri, 19 Jul 2024
Close Date
Tue, 23 Jul 2024
Price Band
₹ 90 – 95
Lot Size
150
Issue Size
₹ 510.15 Cr
Minimum Investment
₹ 14,250 (150 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Sanstar Limited IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹510 Crore, comprising a fresh issue of 4.18 Crore equity shares aggregating to ₹397.10 Crore and an offer for sale (OFS) of 1.19 Crore equity shares aggregating to ₹113.05 Crore by the existing shareholders.
The Sanstar Limited IPO remained open for subscription from July 19, 2024, to July 23, 2024. The basis of allotment was finalized on July 24, 2024, and the company's shares were listed on the NSE and BSE on July 26, 2024.
The company had fixed the price band at ₹90 to ₹95 per share, with a lot size of 150 shares. Retail investors were required to make a minimum investment of ₹14,250 (based on the upper price band) to apply for one lot.
MUFG Intime India Private Limited served as the registrar to the issue. Pantomath Capital Advisors Pvt Ltd acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Sanstar Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Sanstar Limited IPO Timeline (Tentative)
- IPO Open Date
- Fri, 19 Jul 24
- IPO Close Date
- Tue, 23 Jul 24
- Basis of Allotment
- Wed, 24 Jul 24
- Initiation of Refunds
- Thu, 25 Jul 24
- Credit of Shares to Demat
- Thu, 25 Jul 24
- Listing Date
- Fri, 26 Jul 24 — NSE & BSE
Open Date
19 July 2024
Close Date
23 July 2024
Basis Of Allotment
24 July 2024
Listing Date
26 July 2024
IPO Subscription
Check Live Subscription →The Sanstar Limited IPO has received bids for 3,11,94,96,150 shares against 3,75,90,000 shares offered, resulting in an overall subscription of 82.99x. the NII category is subscribed 136.5x, Retail Investors 24.23x, and QIBs 145.68x. Within the NII category, BNII is subscribed 149.44x, while SNII is subscribed 110.61x.
QIB
145.68x
NII
136.5x
BNII
149.44x
SNII
110.61x
RII
24.23x
Total
82.99x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 1,87,95,000 shares, representing 35% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 1,07,40,000 shares (20%), while Non-Institutional Investors (NIIs) receive 80,55,000 shares (15%).
| Category | Shares Offered | Shares Offered |
|---|---|---|
| Anchor Investors | 16,110,000 | 30% |
| Qualified Institutions | 10,740,000 | 20% |
| Non-Institutional | 8,055,000 | 15% |
| BNII | 5,370,000 | 10% |
| SNII | 2,685,000 | 5% |
| Retail Investors | 18,795,000 | 35% |
| Total | 53,700,000 | 100% |
Financials Details(₹ in Crores)
| Particular | 31 Mar 24 | 31 Mar 23 | 31 Mar 22 |
|---|---|---|---|
| Assets | 527.57 | 368.35 | 207.45 |
| Revenue | 1081.68 | 1209.67 | 504.77 |
| Profit After Tax | 66.77 | 41.81 | 15.92 |
| Net Worth | 215.91 | 149.28 | 48.97 |
| Reserve & Surplus | 225.18 | 158.41 | 55.69 |
| Total Borrowings | 127.64 | 111.7 | 85.22 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Sanstar Limited KPI Information
| Particular | KPI Information |
|---|---|
| ROE % | 30.92 |
| ROCE % | 24.43 |
| Debt / Equity | 0.5 |
| RoNW % | 30.92 |
| PbW | 6.18 |
| Pat Margin % | 6.17 |
Peers Comparison
No Peer Comparision Available
About Sanstar Limited
Established in 1982, Sanstar Limited manufactures plant-based specialty products and ingredient solutions in India for food, animal nutrition, and other industrial applications. The company’s products include liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native maize starches, modified maize starches, and co-products like germs, gluten, fiber, and enriched protein, amongst others. According to Frost & Sullivan, the company holds the position of the fifth-largest manufacturer of maize-based specialty products and ingredient solutions in India, boasting an installed capacity of 363,000 tons per annum (1,100 tons per day).
The specialty products and ingredients solutions by the company add taste, texture, nutrients and increased functionality to (i) foods as ingredients, thickening agents, stabilizers, sweeteners, emulsifiers, and additives (in bakery products, confectionery, pastas, soups, ketchups, sauces, creams, deserts, amongst others), (ii) animal nutrition products as nutritional ingredients, and (iii) other industrial products as disintegrants, excipients, supplements, coating agents, binders, smoothing & flattering agents, finishing agents, among others.
The company is a recognized Two Star Export house from the Director General of Foreign Trade, Government of India, while Sanstar Biopolymers Limited, the erstwhile Company that was merged with the Company in 2023 is a recognized Three Star Export House. The company has two manufacturing facilities in Maharashtra and Kutch covering a total area of 245 acres and exports its products to companies in 49 countries including Asia, Africa, the Middle East, America, Europe, and Oceania. The Domestic reach is equitable, with product distribution covering 22 states across India.
Sanstar Limited IPO Promoters
- Gouthamchand Sohanlal Chowdhary
- Sambhav Gautam Chowdhary
- Shreyans Gautam Chowdhary
Promoters Holding
Holding Pre Issue
99.77%
Holding Post Issue
70.37%
Sanstar Limited IPO Objective
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding the capital expenditure for the expansion of the Dhule facility
- Repayment and/or prepayment, in part or in full, of certain borrowings availed by the company
- General corporate purposes
Sanstar Limited Address / Contact Details
Sanstar Limited
Sanstar House, near Parimal Under Bridge,
Opp. Suvidha Shopping Centre, Paldi,
Ahmedabad – 380 007
Phone: +91 79 26651819
Email: cs@sanstar.in
Website: https://www.sanstar.in
IPO Snapshot
Sanstar Limited IPO Lot Size
The Sanstar Limited IPO has a lot size of 150 shares. Retail investors require a minimum investment of ₹14,250 by applying for 1 lot (150 shares). The maximum application allowed for the retail category is 14 lots (2,100 shares), requiring an investment of ₹1,99,500.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 150 | 14,250.00 |
| Retail (Max) | 14 | 2,100 | 199,500.00 |
| S-HNI (Min) | 15 | 2,250 | 213,750.00 |
| S-HNI (Max) | 70 | 10,500 | 997,500.00 |
| B-HNI (Min) | 71 | 10,650 | 1,011,750.00 |
Issue Reservation
- Anchor Investors — 30%
- QIB — 20%
- NII — 15%
- RII — 35%
Book Running Lead Managers
- Pantomath Capital Advisors Pvt Ltd
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Sanstar Limited IPO?
Sanstar Limited IPO is a Book-building IPO with a total issue size of ₹510.15 crore. The Sanstar Limited IPO price band is ₹90 to 95 per share. The Sanstar Limited IPO subscription opens on Fri, Jul 19, 2024, and closes on Tue, Jul 23, 2024. The Sanstar Limited IPO will be listed on the NSE,BSE. MUFG Intime India Private Limited is the registrar for the Sanstar Limited IPO.
When will the Sanstar Limited IPO open for subscription?
The Sanstar Limited IPO opens on Fri, Jul 19, 2024 and closes on Tue, Jul 23, 2024
What is Sanstar Limited IPO Price Band?
Sanstar Limited IPO Price Band is ₹90 to 95 per share.
What is Sanstar Limited IPO Lot Size?
Sanstar Limited IPO lot size is 150 shares, Retail investors need a minimum investment of ₹14250 based on the upper price band
What is the minimum investment for Sanstar Limited IPO?
The minimum investment for Sanstar Limited IPO is ₹14250, based on one lot of 150 shares at the upper price band of ₹95 per share.
How to apply for Sanstar Limited IPO?
Investors can apply for the Sanstar Limited IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Tue, Jul 23, 2024. The application amount remains blocked until the Sanstar Limited IPO allotment is finalized.
What is Sanstar Limited IPO Issue Size?
Sanstar Limited IPO issue size is ₹510.15 crores.
What is the Sanstar Limited IPO Allotment Date?
Sanstar Limited IPO allotment date is Wed, Jul 24, 2024.
Who is the Sanstar Limited IPO Registrar?
The registrar for Sanstar Limited IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check Sanstar Limited IPO allotment status, refund processing, and other IPO-related information.
What is the Sanstar Limited IPO GMP?
The Sanstar Limited IPO GMP (Grey Market Premium) is ₹25 as of Fri, Jul 26, 2024. Based on the upper price band of ₹95 per share, the estimated Sanstar Limited IPO listing price is ₹120, indicating a potential listing gain of approximately 26.32% over the issue price.
Who is the Sanstar Limited IPO Lead Manager?
The book-running lead managers (BRLMs) for the Sanstar Limited IPO are . The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Sanstar Limited IPO Red Herring Prospectus (RHP).