Bookbuilding IPO | ₹510 Cr | Listed at BSE, NSE | Fri, Jul 19, 2024 - Tue, Jul 23, 2024
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 per share. The lot size for an application is 150. The minimum amount of investment required by an retail is ₹14,250 (150 shares) (based on upper price). 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 Open
Fri, Jul 19, 2024
IPO Close
Tue, Jul 23, 2024
Issue Price
₹95 per share
Market Cap (Pre-IPO)
₹1,731.32 Cr
| IPO Date | 19 to 23 Jul, 2024 |
| Listed on | Fri, Jul 26, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹90 to ₹95 |
| Issue Price | ₹95 per share |
| Lot Size | 150 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 5,37,00,000 shares (agg. up to ₹510 Cr) |
| Fresh Issue | 4,18,00,000 shares (agg. up to ₹397 Cr) |
| Offer for Sale | 1,19,00,000 shares of ₹2 (agg. up to ₹113 Cr) |
| Share Holding Pre Issue | 14,04,44,250 shares |
| Share Holding Post Issue | 18,22,44,250 shares |
| BSE Script Code / NSE Symbol | 544217 / SANSTAR |
| ISIN | INE08NE01025 |
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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 150 shares and in multiples thereof.
| 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 |
Sanstar IPO raises ₹153.05 crore from anchor investors. Sanstar IPO Anchor bid date is July 18, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Jul 18, 2024 |
| Shares Offered | 1,61,10,000 |
| Anchor Portion (₹ Cr.) | 153.05 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Aug 23, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Oct 22, 2024 |
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.
| 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 Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the capital expenditure requirement for expansion of our Dhule Facility | 181.56 |
| 2 | Repayment and/or pre-payment, in part or full, of certain borrowings availed by our Company and; | 100.00 |
| 3 | General Corporate Purposes | 81.93 |
| KPI | Mar 31, 2024 |
|---|---|
| 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 (₹) | 4.75 | 3.66 |
| P/E (x) | 19.98 | 25.93 |
| Promoter Holding | 99.77% | 70.37% |
| Market Cap | ₹1,731.32 Cr. |
The Sanstar IPO is subscribed 82.99 times on July 23, 2024 6:19:08 PM (Day 3). The public issue subscribed 24.23 times in the retail category, 145.68 times in the QIB category, and 136.49 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 145.68 | 1,07,40,000 | 1,56,45,82,800 |
| NII | 136.49 | 80,55,000 | 1,09,94,64,750 |
| bNII (bids above ₹10L) | 149.44 | 53,70,000 | 80,24,84,550 |
| sNII (bids below ₹10L) | 110.61 | 26,85,000 | 29,69,80,200 |
| Retail | 24.23 | 1,87,95,000 | 45,54,13,350 |
| Total | 82.99 | 3,75,90,000 | 3,11,94,60,900 |
Total Application : 15,28,659
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fixed fees payable to Book Running Lead Manager | 2.50 |
| 2 | Underwriting/Selling Commission to the BRLM | 24.74 |
| 3 | Commission/processing fee for SCSBs, Sponsor Bank(s) and fees payable to sponsor bank(s) for bids made by RIBs, Bankers to the Offer(s), Brokerage and Syndicate Fees, bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 6.67 |
| 4 | Fees payable to the Registrar to the Offer | 0.26 |
| 5 | Others - Listing fees, SEBI filing fees, upload fees, BSE and SE processing fees, book building software fees and other regulatory expenses | 3.94 |
| 6 | Others - Printing and distribution of stationery | 0.10 |
| 7 | Others - Advertising and marketing expenses | 3.15 |
| 8 | Others - Fees payable to legal counsel | 0.75 |
| 9 | Others - Fees payable to other advisors to the Offer, including but not limited to Statutory Auditors, industry service provider and Chartered Engineer; and | 0.80 |
| 10 | Others - Miscellaneous expenses | 0.28 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹95.00 | ₹95.00 |
| Open | ₹106.40 | ₹109.00 |
| Low | ₹106.40 | ₹107.10 |
| High | ₹127.68 | ₹128.79 |
| Last Trade | ₹115.09 | ₹115.07 |
Lead Manager Reports
Sanstar IPO is a main-board IPO of 5,37,00,000 equity shares of the face value of ₹2 aggregating up to ₹510 Crores. The issue is priced at ₹95 per share. The minimum order quantity is 150.
The IPO opens on Fri, Jul 19, 2024, and closes on Tue, Jul 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 Fri, Jul 19, 2024 and closes on Tue, Jul 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 Thu, Jul 25, 2024. Check the Sanstar IPO allotment status.
The Sanstar IPO listing date is on Fri, Jul 26, 2024.
