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Sanstar IPO is a book build issue of ₹510.15 crores. The issue is a combination of fresh issue of 4.18 crore shares aggregating to ₹397.10 crores and offer for sale of 1.19 crore shares aggregating to ₹113.05 crores.
Sanstar IPO bidding started from Jul 19, 2024 and ended on Jul 23, 2024. The allotment for Sanstar IPO was finalized on Jul 24, 2024. The shares got listed on BSE, NSE on Jul 26, 2024.
Sanstar IPO price band is set at ₹95.00 per share . The lot size for an application is 150. The minimum amount of investment required by an retail is ₹13,500 (150 shares). The lot size investment for sNII is 15 lots (2,250 shares), amounting to ₹2,13,750, and for bNII, it is 71 lots (10,650 shares), amounting to ₹10,11,750.
Pantomath Capital Advisors Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Sanstar IPO RHP for detailed Information.
| IPO Date | July 19, 2024 to July 23, 2024 |
| Listing Date | July 26, 2024 |
| Face Value | ₹2 per share |
| Issue Price Band | ₹90 to ₹95 per share |
| Issue Price Final | ₹95 per share |
| Lot Size | 150 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 5,37,00,000 shares (aggregating up to ₹510.15 Cr) |
| Fresh Issue | 4,18,00,000 shares (aggregating up to ₹397.10 Cr) |
| Offer for Sale | 1,19,00,000 shares of ₹2 (aggregating up to ₹113.05 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 14,04,44,250 shares |
| Share Holding Post Issue | 18,22,44,250 shares |
Sanstar IPO offers total 5,37,00,000 shares. Out of which 2,68,50,000 (50.00%) allocated to QIB, 1,07,40,000 (20.00%) allocated to QIB, 80,55,000 (15.00%) allocated to NII, 1,87,95,000 (35.00%) allocated to RII and 1,61,10,000 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 2,68,50,000 (50.00%) | NA |
| − Anchor Investor Shares Offered | 1,61,10,000 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,07,40,000 (20.00%) | NA |
| NII (HNI) Shares Offered | 80,55,000 (15.00%) | NA |
| − bNII > ₹10L | 53,70,000 (10.00%) | 2,386 |
| − sNII < ₹10L | 26,85,000 (5.00%) | 1,193 |
| Retail Shares Offered | 1,87,95,000 (35.00%) | 1,25,300 |
| Total Shares Offered | 5,37,00,000 (100.00%) |
Sanstar IPO raises ₹153.05 crore from anchor investors. Sanstar IPO Anchor bid date is July 18, 2024. Sanstar IPO Anchor Investors list
| Bid Date | July 18, 2024 |
| Shares Offered | 1,61,10,000 |
| Anchor Portion Size (In Cr.) | 153.05 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 23, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 22, 2024 |
Sanstar IPO opens on July 19, 2024, and closes on July 23, 2024.
| IPO Open Date | Fri, Jul 19, 2024 |
| IPO Close Date | Tue, Jul 23, 2024 |
| Tentative Allotment | Wed, Jul 24, 2024 |
| Initiation of Refunds | Thu, Jul 25, 2024 |
| Credit of Shares to Demat | Thu, Jul 25, 2024 |
| Tentative Listing Date | Fri, Jul 26, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Jul 23, 2024 |
Investors can bid for a minimum of 150 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹14,250 |
| Retail (Max) | 14 | 2,100 | ₹1,99,500 |
| S-HNI (Min) | 15 | 2,250 | ₹2,13,750 |
| S-HNI (Max) | 70 | 10,500 | ₹9,97,500 |
| B-HNI (Min) | 71 | 10,650 | ₹10,11,750 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Founded in 1982, Sanstar Limited manufactures specialty plant-based products and ingredient solutions for food, pet food and other industrial applications in India.
The company's product portfolio includes liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native maize starches, modified maize starches, and by-products such as germ, gluten, fiber and fortified proteins.
These products are used in:
The company has two manufacturing facilities covering a total area of 10.68 million square feet (approx 245 acres) at Dhule in the state of Maharashtra and Kutch in the state of Gujarat. With an installed capacity of 3,63,000 tons per annum (1,100 tons per day), the company is the fifth largest manufacturer of corn-based specialty products and ingredients in India.
The company exports its products to companies in 49 countries including Asia, Africa, the Middle East, America, Europe and Oceania. The company also has a pan-India presence where its products are sold in 22 states.
As of March 31, 2024, the company employed 271 people (including 60 permanent employees) at its plants in Kutch and Dhule and at its headquarters.
Sanstar Limited's revenue decreased by -10.58% and profit after tax (PAT) rose by 59.71% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 527.57 | 368.35 | 207.45 |
| Total Income | 1,081.68 | 1,209.67 | 504.77 |
| Profit After Tax | 66.77 | 41.81 | 15.92 |
| Net Worth | 215.91 | 149.28 | 48.97 |
| Reserves and Surplus | 225.18 | 158.41 | 55.69 |
| Total Borrowing | 127.64 | 111.70 | 85.22 |
| Amount in ₹ Crore | |||
The market capitalization of Sanstar IPO is ₹1731.32 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 30.92% |
| ROCE | 24.43% |
| Debt/Equity | 0.50 |
| RoNW | 30.92% |
| PAT Margin | 6.17% |
| Price to Book Value | 6.18 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 4.75 | 3.66 |
| P/E (x) | 19.98 | 25.93 |
The Net Proceeds of the Fresh Issue, i.e., Gross Proceeds of the Fresh Issue less the offer expenses apportioned to the Company are proposed to be utilized in the following manner:
[Dilip Davda] The company is one of the major manufacturers of speciality products and ingredient solutions in India for food, animal nutrition and other industrial applications having good market share in global and domestic markets. For the reported periods, though it marked inconsistency in its top lines, bottom line steadily grew. Based on FY24 super earnings, the issue appears aggressively priced. Amidst rising demand for its products, the management is confident of improving the trends reported and its performance post expanded capacities. Well-informed investors may park moderate funds for the long term. Read detail review...
| Listing Date | July 26, 2024 |
| BSE Script Code | 544217 |
| NSE Symbol | SANSTAR |
| ISIN | INE08NE01025 |
| Final Issue Price | ₹95 per share |
| BSE Listing Group | B |
Sanstar Ltd.
Sanstar House, near Parimal Under Bridge,
Opp. Suvidha Shopping Centre, Paldi,
Ahmedabad – 380 007
Ahmedabad, Gujarat
Phone: +91 79 26651819
Email: cs@sanstar.in
Website: https://www.sanstar.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: sanstar.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Sanstar IPO is a main-board IPO of 5,37,00,000 equity shares of the face value of ₹2 aggregating up to ₹510.15 Crores. The issue is priced at ₹95 per share. The minimum order quantity is 150.
The IPO opens on July 19, 2024, and closes on July 23, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Sanstar IPO using UPI as a payment gateway. Zerodha customers can apply in Sanstar IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sanstar IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sanstar IPO opens on July 19, 2024 and closes on July 23, 2024.
Sanstar IPO lot size is 150, and the minimum amount required for application is ₹14,250.
You can apply in Sanstar IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Sanstar IPO will be done on Wednesday, July 24, 2024, and the allotted shares will be credited to your demat account by Thursday, July 25, 2024. Check the Sanstar IPO allotment status.
The Sanstar IPO listing date is on Friday, July 26, 2024.
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