Sanstar IPO (Sanstar Limited IPO)
Sanstar IPO open for bidding on 19th July 2024, and ends on 23rd July 2024.
Sanstar Limited, established in 1982, is a leading Indian manufacturer of plant-based specialty products and ingredient solutions. The company offers a diverse product range, including starches, derivatives, and co-products, catering to various industries such as food, animal nutrition, and other industrial applications.
Sanstar boasts a reputed clientele, including companies like AB Mauri, ITC, Capital Foods, Hindustan Unilever Ltd, and Godrej Agrovet. The company has a strong market presence in Maharashtra, Gujarat, and Andhra Pradesh, and is expanding into Telangana, Tamil Nadu, Madhya Pradesh, and Bihar. Additionally, Sanstar exports its products to around 49 countries, with Malaysia, Kenya, and Vietnam being top importers.
Looking ahead, Sanstar aims to expand its Dhule Facility to enhance production capacity and meet growing demand. The company plans to fund this expansion through a mix of internal accruals and external borrowings.
For more details refer to Sanstar IPO RHP and Sanstar IPO Pulse Score
Sanstar IPO Details
| IPO Date | 19th July 2024 to 23rd July 2024 |
| Listing Date | 26th July 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹90 to ₹95 per share |
| Lot Size | 150 Shares |
| 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 | Book Built Issue IPO |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor | 1,61,10,000(30%) |
| QIB | 1,07,40,000(20%) |
| NII | 80,55,000(15%) |
| bNII | 53,70,000(10%) |
| sNII | 26,85,000(5%) |
| Retail | 1,87,95,000(35%) |
| Total | 5,37,00,000(100%) |
Sanstar IPO Timeline
| IPO Open | 19th July 2024 |
| IPO Close | 23rd July 2024 |
| Basis Of Allotment | 24th July 2024 |
| Initiation of Refunds | 25th July 2024 |
| Credit of Shares to Demat | 25th July 2024 |
| Listing Date | 26th July 2024 |
Fundamentals
Data as of 31st March 2024
| Market Cap | ₹ 1,731.32 Cr | P/E Ratio- Pre IPO | 19.98 |
| RoNW | 30.92% | P/E Ratio- Post IPO | 25.93 |
| RoCE | 24.43% | P/B Ratio | 6.18 |
| Debt to Equity | 0.5 | PAT Margin% | 6.17% |
Sanstar IPO Objectives
The company proposes to utilize the Net Proceeds towards the funding of the following objects:
- Funding the capital expenditure requirement for expansion of the Dhule Facility;
- Repayment and/or pre-payment, in part or full, of certain borrowings availed by the Company and;
- General Corporate Purposes.
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