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18 Apr, 2025
Sanstar Limited IPO
Sanstar is one of the major manufacturers of plant-based specialty products and ingredient solutions in India for food, animal nutrition and other industrial applications. Their products include liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native maize starches, modified maize starches and co-products like germs, gluten, fiber and enriched protein. They are India's third largest manufacturer of maize-based speciality products and ingredient solutions. Sanstar IPO is a book-built issue of Rs 510.15 crores.
The issue combines a fresh issue of 4.18 crore shares aggregating to Rs 397.10 crores and an offer for sale of 1.19 crore shares aggregating to Rs 113.05 crore. Sanstar IPO opens for subscription on July 19, 2024 and closes on July 23, 2024. Sanstar's IPO price band is set at â¹90 to â¹95 per share. The minimum lot size for an application is 150 Shares. 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.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Sanstar Limited IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Sanstar Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | July 19, 2024 to July 23, 2024 |
| Listing Date | [.] |
| 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 |
| Shareholding pre issue | 140,444,250 |
| Shareholding post issue | 182,244,250 |
Sanstar Limited IPO Timeline
| Detail | Description |
|---|---|
| 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 |
Sanstar Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹14,250 |
| Retail (Max) | 14 | 2100 | ₹199,500 |
| S-HNI (Min) | 15 | 2250 | ₹213,750 |
| S-HNI (Max) | 70 | 10500 | ₹997,500 |
| B-HNI (Min) | 71 | 10,650 | ₹1,011,750 |
Sanstar Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| - | - |
Company & Financials
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:
1. Food products: as ingredients, thickeners, stabilizers, sweeteners, emulsifiers and additives (including in baked goods, confectionery, pasta, soups, ketchup, sauces, creams and desserts)./li>
2. Pet food products: as nutritional ingredients.
3. Other industrial products: disintegrants, excipients, supplements, coating agents, binders, smoothing and flattering agents and refining agents.
The company has two manufacturing facilities covering a total area of 10.68 million square feet 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.
Competitive Strength:
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Sanstar Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 527.57 | 1,081.68 | 66.77 | 215.91 | 127.64 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 368.35 | 1,209.67 | 41.81 | 149.28 | 111.70 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 207.45 | 504.77 | 15.92 | 48.97 | 85.22 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| 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 |
Sanstar IPO Review
The company is one of the major manufacturers of specialty products and ingredient solutions in India for food, animal nutrition and other industrial applications having a good market share in global and domestic markets. For the reported periods, though it marked inconsistency in its top lines, the 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.
RHP:
DRHP:
Frequently asked Questions (FAQs )
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What is the Sanstar IPO?
Sanstar IPO is a main-board IPO. They are going to raise ₹510.15 Crores via IPO. The issue is priced at ₹90 to ₹95 per equity share. The IPO is to be listed on BSE & NSE.
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When will the Sanstar IPO open?
The IPO will open on July 19, 2024 for QIB, NII, and Retail Investors.
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What is Sanstar IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
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What is Sanstar IPO Size?
Sanstar IPO size is ₹510.15 crores.
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What is the Sanstar IPO Price Band?
Sanstar IPO Price Band is ₹90 to ₹95.
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What is Sanstar IPO Minimum and Maximum Lot Size?
The minimum bid is 150 Shares with ₹14,250 amount while the maximum bid is 14 shares with ₹199,500.
