Sanstar is scheduled to hit the market on July 19, 2024 and close on July 23, 2024. Sanstar plans to raise around ₹510.15 Cr through an IPO with a sale of up to 53,700,000 equity shares of ₹2 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Founded in 1982, Sanstar Limited is a prominent manufacturer in India that specializes in producing plant-based products and ingredient solutions for various industries. Their extensive product range includes liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, maize starches, and various by-products like germ, gluten, fiber, and fortified proteins. These products find applications in food, pet food, and other industrial sectors as ingredients, thickeners, stabilizers, sweeteners, and more.
With manufacturing facilities spanning over 10.68 million square feet in Maharashtra and Gujarat, Sanstar Limited has a significant production capacity of 3,63,000 tons per annum. The company stands as the fifth largest manufacturer of corn-based specialty products in India, exporting to 49 countries across Asia, Africa, the Middle East, America, Europe, and Oceania. Additionally, Sanstar Limited has a strong presence in 22 states in India and employs around 271 individuals as of March 31, 2024.
Sanstar IPO Details
Sanstar IPO opens on July 19, 2024, and closes on July 23, 2024. The Listing date for Sanstar IPO is on July 26, 2024. The price band for IPO is ₹90 to ₹95 per share and lot size of 150 Shares.
| IPO Date | July 19, 2024 to July 23, 2024 |
| Listing Date | July 26, 2024 |
| Price | ₹90 to ₹95 per share |
| Lot Size | 150 Shares |
| Issue Size | ₹510.15 Cr |
| Face Value | ₹2 per share |
Sanstar IPO Tentative Timetable
Sanstar opening date is July 19, 2024 and close date is July 23, 2024. The IPO allotment date is July 24, 2024. Therefund initiation of IPO is on July 25, 2024. The credit of shares in demat account is on July 25, 2024. The listing date is on July 26, 2024.
| Event | Date |
|---|---|
| IPO Opening | July 19, 2024 |
| IPO Closing | July 23, 2024 |
| IPO Allotment Date | July 24, 2024 |
| Refund Initiation | July 25, 2024 |
| Shares Credit to Demat | July 25, 2024 |
| Lisiting Date | July 26, 2024 |
Sanstar IPO Lot Size
Lot Size of this IPO is 150 shares. A retail-individual investor can apply for up to 14 lots (2100 shares or ₹199,500).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 150 | ₹14,250 |
| Retail(Maximum) | 14 | 2100 | ₹199,500 |
| S-HNI (Minimum) | 15 | 2,250 | ₹213,750 |
| B-HNI (Minimum) | 71 | 10,650 | ₹1,011,750 |
Sanstar IPO Promoter Holding
| Pre Issue Share Holding | 99.77% |
| Post Issue Share Holding | 70.37% |
Sanstar IPO Review
Sanstar Ltd. (Sanstar) is a leading manufacturer of plant-based speciality products and ingredient solutions in India, catering to food, animal nutrition, and industrial applications. With a product portfolio that includes liquid glucose, maltodextrin powder, dextrose monohydrate, native and modified maize starches, and co-products like germs, gluten, fiber, and enriched protein, Sanstar plays a crucial role in adding taste, texture, and nutrients to various end products. The company's expertise and technical knowledge, combined with over five decades of presence and state-of-the-art manufacturing facilities, give it a competitive edge in the industry.
Sanstar exports its products to 49 countries across Asia, Africa, the Middle East, the Americas, Europe, and Oceania. It has a significant presence in the domestic market as well, selling its products in 22 states across India. The company has been recognized as a Two Star Export House by the Director General of Foreign Trade, Government of India, and has steadily expanded its capacity, with an installed capacity of 3,63,000 tons per annum. As of March 31, 2024, Sanstar employed 271 people and continues to grow its footprint both domestically and internationally. Financially, Sanstar has shown inconsistency in its top-line performance but steady growth in its bottom line. For the last three fiscals, the company posted a total income/net profit of Rs. 504.77 cr./Rs. 15.92 cr. (FY22), Rs. 1209.67 cr./Rs. 41.81 cr. (FY23), and Rs. 1081.68 cr./Rs. 66.77 cr. (FY24). The company is launching its maiden IPO to raise approximately Rs. 510.15 cr., with a combination of fresh equity shares and an offer for sale. The IPO price band is set at Rs. 90 – Rs. 95 per share. The funds will be used for capex on expansion, debt repayment, and general corporate purposes. Despite the strong financial performance, the IPO is aggressively priced, with a P/E of 25.96 based on FY24 earnings.
Sanstar's management is optimistic about future growth, supported by the company's solar and gas power projects, debt reduction, and ongoing expansion plans. These initiatives are expected to improve the company's export-to-domestic revenue ratio and enhance product quality. While the IPO is priced aggressively, well-informed investors may consider investing moderate funds for the long term, given the company's strong market position, growth potential, and rising demand for its products.
Sanstar IPO Subscription Status (Bidding Details)
Table not foundSanstar IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Sanstar IPO FAQs
What is Sanstar IPO?
Sanstar is issuing 53,700,000 equity shares with a face value of ₹2 each, totaling up to ₹510.15 Cr. The shares are being offered at a price of ₹90 to ₹95 each, with a minimum order quantity of 150 shares.
Link Intime India Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Sanstar IPO will open?
Sanstar will open on July 19, 2024 for QIB, NII, and Retail Investors.
When Sanstar IPO will end?
Sanstar will end on July 23, 2024.
What is Sanstar IPO Size?
Sanstar IPO size is ₹510.15 Cr.
What is Sanstar IPO Price Band?
Sanstar price band is ₹90 to ₹95 per share.
What is the Sanstar IPO Allotment Date?
Sanstar allotment date is July 24, 2024.
What is the Sanstar IPO Listing Date?
Sanstar listing date is July 26, 2024. The IPO is to be listed on BSE and NSE.
How to Sanstar IPO through Zerodha?
To apply for the IPO “Sanstar” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Sanstar IPO through Upstox?
To apply for the IPO “Sanstar” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Sanstar IPO Allotment Status?
For Sanstar IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Sanstar IPO GMP?
You can check out here: Sanstar IPO GMP