Sanstar IPO Date, Review, Price, Allotment Details

Sanstar IPO

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).

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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)

Update Soon

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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.

ApplicationLot SizeSharesAmount
Retail Minimum1150₹ 14,250
Retail Maximum142100₹ 1,99,500
S-HNI Minimum152250₹ 2,13,750
B-HNI Minimum7110650₹ 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
YearRevenueExpensePAT
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.

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