The Sanstar IPO is scheduled to open on July 19, 2024, and close on July 23, 2024. The company aims to raise approximately ₹510.15 crores through this offering, which includes a fresh issue of ₹397.10 crores and an offer for sale of up to 11,900,000 equity shares, each priced at ₹2. The IPO allocation is divided as follows: 35% for retail investors, 50% for Qualified Institutional Buyers (QIB), and 15% for High Net-worth Individuals (HNI).
Sanstar is a leading manufacturer of plant-based specialty products and ingredient solutions in India, serving the food, animal nutrition, and industrial sectors (Source: Company Commissioned Frost & Sullivan Report, dated December 30, 2023). Their product range includes liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native maize starches, modified maize starches, and co-products such as germs, gluten, fiber, and enriched protein. These specialty products and ingredients enhance taste, texture, nutrients, and functionality in various applications, including food ingredients, thickening agents, stabilizers, sweeteners, emulsifiers, and additives (used in bakery products, confectionery, pastas, soups, ketchups, sauces, creams, desserts, etc.), nutritional ingredients for animal nutrition, and industrial products like disintegrants, excipients, supplements, coating agents, binders, smoothing and flattening agents, and finishing agents.
According to Frost & Sullivan (Company Commissioned Report, dated December 30, 2023), Sanstar is the third-largest manufacturer of maize-based specialty products and ingredient solutions in India, with an installed capacity of 3,63,000 tons per annum (1,100 tons per day). The company attributes its competitive advantage to its leading industry position, technical expertise, over five decades of experience, state-of-the-art manufacturing facilities, diverse product portfolio, and a wide client base in both domestic and global markets.
Sanstar IPO Objectives:
The net proceeds from the fresh issue, after deducting the offer expenses, will be used for:
Funding the capital expenditure required for expanding the Dhule facility.
Repaying and/or prepaying, in part or in full, certain borrowings of the company.
General corporate purposes.
Sanstar IPO Review (Apply or Not)
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Sanstar IPO Date & Price Band Details:
| IPO Open: | July 19, 2024 |
| IPO Close: | July 23, 2024 |
| IPO Size: | Approx ₹510.15 Crores, 53,700,000 Equity Share |
| Fresh Issue: | Approx ₹397.10 Crores, 41,800,000 Equity Share |
| Offer for Sale: | Approx ₹113.05 Crores, 11,900,000 Equity Share |
| Face Value: | ₹2 Per Equity Share |
| IPO Price Band: | ₹90 to ₹95 Per Share |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 35% |
| QIB Quota: | 50% |
| NII Quota: | 15% |
| Discount: | N/A |
Sanstar IPO Lot Size:
The minimum market lot for the Sanstar IPO is 150 shares, with an application amount of ₹14,250. Retail investors can apply for up to 14 lots, which equals 2,100 shares or an investment of ₹199,500.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 150 | ₹ 14,250 |
| Retail Maximum | 14 | 2100 | ₹ 1,99,500 |
| S-HNI Minimum | 15 | 2250 | ₹ 2,13,750 |
| B-HNI Minimum | 71 | 10650 | ₹ 10,11,750 |
Sanstar IPO Timeline:
The Sanstar IPO will open on July 19 and close on July 23. The share allotment will be finalized on July 24, with the IPO listing scheduled for July 26.
| IPO Open Date: | July 19, 2024 |
| IPO Close Date: | July 23, 2024 |
| Basis of Allotment: | July 24, 2024 |
| Refunds: | July 25, 2024 |
| Credit to Demat Account: | July 25, 2024 |
| IPO Listing Date: | July 26, 2024 |
Sanstar IPO GMP Today:
The GMP for the Sanstar IPO has not started yet. We are updating the GMP information daily. Please visit us again soon for the latest updates.
Sanstar Company Financials
| ₹ in Crores | |||
| Year | Revenue | Expense | PAT |
| 2022 | ₹ 504.77 | ₹ 482.78 | ₹ 15.92 |
| 2023 | ₹ 1,209.67 | ₹ 1,154.28 | ₹ 41.81 |
| 2024 | ₹ 1,081.68 | ₹ 991.96 | ₹ 66.77 |
Peer Group
Gujarat Ambuja Exports Limited
Gulshan Polyols Limited
Sukhjit Starch and Chemicals Limited
Company Promoters
Gouthamchand Sohanlal Chowdhary
Sambhav Gautam Chowdhary
Shreyans Gautam Chowdhary
Sanstar IPO Registrar
Link Intime India Private Ltd
Phone: +91 8108114949
Email: sanstar.ipo@linkintime.co.in
Website: https://linkintime.co.in/
Sanstar IPO Allotment Status Check
Check the Sanstar IPO allotment status on the Link Intime website. Click Here
Sanstar IPO Lead Manager (Merchant Banker)
Pantomath Capital Advisors Private Limited
Company Address
Sanstar Limited
Sanstar House, near Parimal Under Bridge,
Opposite Suvidha Shopping Centre, Paldi, Ahmedabad
380 007, Gujarat, India
Phone: +91 79 26651819
Email: cs@sanstar.in
Website: www.sanstar.in
Sanstar IPO FAQs
What are the dates for the Sanstar IPO?
The Sanstar IPO will open on July 19, 2024, and close on July 23, 2024.
What is the purpose of the Sanstar IPO?
The IPO aims to raise approximately ₹510.15 crores, which includes a fresh issue of ₹397.10 crores and an offer for sale of up to 11,900,000 equity shares.
What is the price range for the Sanstar IPO?
The price range has not been specified in the provided information. Please refer to the official prospectus or your financial advisor for the exact price range.
What is the minimum market lot for the Sanstar IPO?
The minimum market lot is 150 shares, requiring an application amount of ₹14,250.
How many lots can retail investors apply for in the Sanstar IPO?
Retail investors can apply for up to 14 lots, equating to 2,100 shares or an investment of ₹199,500.
What are the allocation percentages for different investor categories?
The IPO allocation is distributed as follows: 35% for retail investors, 50% for Qualified Institutional Buyers (QIB), and 15% for High Net-worth Individuals (HNI).
What are the key dates related to the Sanstar IPO allotment and listing?
The allotment of shares will be finalized on July 24, 2024, and the IPO will be listed on the stock exchange on July 26, 2024.
What type of products does Sanstar manufacture?
Sanstar is a major manufacturer of plant-based specialty products and ingredient solutions, including liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native maize starches, modified maize starches, and co-products such as germs, gluten, fiber, and enriched protein.