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Sanstar IPO is a book built issue of Rs 510.15 crores. The issue is a combination of fresh issue of 4.18 crore shares aggregating to Rs 397.10 crores and offer for sale of 1.19 crore shares aggregating to Rs 113.05 crores.
Sanstar IPO bidding started from July 19, 2024 and ended on July 23, 2024. The allotment for Sanstar IPO was finalized on Wednesday, July 24, 2024. The shares got listed on BSE, NSE on July 26, 2024.
Sanstar IPO price band is set at ₹90 to ₹95 per share. The minimum lot size for an application is 150 Shares. The minimum amount of investment required by retail investors is ₹14,250. The minimum lot size investment for sNII is 15 lots (2,250 shares), amounting to ₹213,750, and for bNII, it is 71 lots (10,650 shares), amounting to ₹1,011,750.
Pantomath Capital Advisors Pvt Ltd is the book running lead manager of the Sanstar IPO, while Link Intime India Private Ltd is the registrar for 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 |
| Price Band | ₹90 to ₹95 per share |
| Lot Size | 150 Shares |
| Total Issue Size | 53,700,000 shares (aggregating up to ₹510.15 Cr) |
| Fresh Issue | 41,800,000 shares (aggregating up to ₹397.10 Cr) |
| Offer for Sale | 11,900,000 shares of ₹2 (aggregating up to ₹113.05 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 140,444,250 |
| Share holding post issue | 182,244,250 |
Sanstar IPO offers 53,700,000 shares. 10,740,000 (20.00%) to QIB, 8,055,000 (15.00%) to NII, 18,795,000 (35.00%) to RII and 16,110,000 (30.00%) to Anchor investors. 125,300 RIIs will receive minimum 150 shares and 1,193 (sNII) and 2,386 (bNII) will receive minimum 2,250 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 16,110,000 (30.00%) | NA |
| QIB Shares Offered | 10,740,000 (20.00%) | NA |
| NII (HNI) Shares Offered | 8,055,000 (15.00%) | |
| bNII > ₹10L | 5,370,000 (10.00%) | 2,386 |
| sNII < ₹10L | 2,685,000 (5.00%) | 1,193 |
| Retail Shares Offered | 18,795,000 (35.00%) | 125,300 |
| Total Shares Offered | 53,700,000 (100%) |
Sanstar IPO raises Rs 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 | 16,110,000 |
| 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 | Friday, July 19, 2024 |
| IPO Close Date | Tuesday, July 23, 2024 |
| Basis of Allotment | Wednesday, July 24, 2024 |
| Initiation of Refunds | Thursday, July 25, 2024 |
| Credit of Shares to Demat | Thursday, July 25, 2024 |
| Listing Date | Friday, July 26, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 23, 2024 |
Investors can bid for a minimum of 150 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹14,250 |
| Retail (Max) | 14 | 2100 | ₹199,500 |
| S-HNI (Min) | 15 | 2,250 | ₹213,750 |
| S-HNI (Max) | 70 | 10,500 | ₹997,500 |
| B-HNI (Min) | 71 | 10,650 | ₹1,011,750 |
| Lot Size Calculator | |||
Gouthamchand Sohanlal Chowdhary, Sambhav Gautam Chowdhary, and Shreyans Gautam Chowdhary are the company's promoters.
| Share Holding Pre Issue | 99.77% |
| Share Holding Post Issue | 70.37% |
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 |
| Revenue | 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 Rs 1731.32 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 30.92% |
| ROCE | 24.43% |
| Debt/Equity | 0.5 |
| RoNW | 30.92% |
| P/BV | 6.18 |
| PAT Margin (%) | 6.17 |
| 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...
The Sanstar IPO is subscribed 82.99 times on July 23, 2024 6:19:08 PM. 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) |
|---|---|
| QIB | 145.68 |
| NII | 136.49 |
| bNII (bids above ₹10L) | 149.44 |
| sNII (bids below ₹10L) | 110.61 |
| Retail | 24.23 |
| Total | 82.99 |
Total Application : 1,528,659 (12.20 times)
| Listing Date | July 26, 2024 |
| BSE Script Code | 544217 |
| NSE Symbol | SANSTAR |
| ISIN | INE08NE01025 |
| Final Issue Price | ₹95 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹95.00 |
| ₹106.40 |
| ₹106.40 |
| ₹127.68 |
| ₹115.09 |
| NSE |
|---|
| ₹95.00 |
| ₹109.00 |
| ₹107.10 |
| ₹128.79 |
| ₹115.07 |
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/
Link Intime India Private 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 53,700,000 equity shares of the face value of ₹2 aggregating up to ₹510.15 Crores. The issue is priced at ₹90 to ₹95 per share. The minimum order quantity is 150 Shares.
The IPO opens on July 19, 2024, and closes on July 23, 2024.
Link Intime India Private 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 Shares, and the minimum amount required is ₹14,250.
You can apply in Sanstar IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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