Sanstar IPO Price: ₹90 to ₹95 per share
IPO Date Range: 19 July 2024 - 23 July 2024
Founded in 1982, Sanstar Limited is a prominent manufacturer of speciality plant-based products and ingredient solutions in India. With a diverse product portfolio, the company caters to the food, pet food, and industrial sectors, offering ingredients that enhance taste, texture, and nutritional value.
Sanstar's extensive product line includes liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native maize starches, modified maize starches, and by-products such as germ, gluten, fibre, and fortified proteins. These products serve various functions in the food industry, such as ingredients, thickeners, stabilizers, sweeteners, emulsifiers, and additives in items like baked goods, confectionery, pasta, soups, ketchup, sauces, creams, and desserts. In the pet food industry, these products act as nutritional ingredients, while in other industrial applications, they are used as disintegrants, excipients, supplements, coating agents, binders, and smoothing agents.
Sanstar Limited operates two manufacturing facilities located in Dhule, Maharashtra, and Kutch, Gujarat, covering a combined area of 10.68 million square feet (approximately 245 acres). With an installed capacity of 3,63,000 tons per annum (1,100 tons per day), Sanstar is one of India's largest corn-based speciality products and ingredients manufacturers.
Sanstar exports its products to 49 countries across Asia, Africa, the Middle East, America, Europe, and Oceania and has a strong domestic presence, with its products available in 22 Indian states. As of March 31, 2024, the company employed 271 individuals across its plants and headquarters, including 60 permanent employees. The company's leadership position in the industry is supported by its technical expertise, state-of-the-art manufacturing facilities, and a broad domestic and international client base.
| IPO Date | July 19, 2024 to July 23, 2024 |
| Listing Date | Friday, 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 (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 |
Bidders have the opportunity to bid for a minimum of 150 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹14,250 |
| Retail (Max) | 14 | 2,100 | ₹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 |
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
| 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 |
Whether you're a seasoned investor or just starting out, Lakshmishree ensures you don't miss out on premier IPO opportunities. Dive into the future of investing with Lakshmishree.
Sanstar Limited experienced a 10.58% decline in revenue, while its profit after tax (PAT) surged by 59.71% from the financial year ending on March 31, 2023, to March 31, 2024.
| Period Ended | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 207.45 | 368.35 | 527.57 |
| Revenue | 504.77 | 1209.67 | 1081.68 |
| Profit After Tax | 15.92 | 41.81 | 66.77 |
| Net Worth | 48.97 | 149.28 | 215.91 |
| Reserves & Surplus | 55.69 | 158.41 | 225.18 |
| Total Borrowing | 85.22 | 111.70 | 127.64 |
| KPI | Values |
|---|---|
| Market Cap | Rs 1731.32 Cr |
| EPS | Rs 4.75 |
| P/E (x) | 19.98 |
| ROE | 30.92% |
| ROCE | 24.43% |
| Debt/ Equity | 0.5 |
| RoNW | 30.92% |
| P/BV | 6.18 |
| PAT Margin | 6.17% |
The net proceeds from the Fresh Issue, after deducting offer expenses allocated to the company, are intended to be used for the following purposes:
Prospectus: Official documents that provide detailed information about the IPO and the company. Sanstar Limited DRHP and Sanstar Limited RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Sanstar Limited" IPO is ₹90 to ₹95 per share.
The "Sanstar Limited" IPO is expected to be listed on Friday, 26 July 2024.
To apply for an IPO with Lakshmishree:
Go to www.lakshmishree.com/ipo
Select the desired IPO and fill in the required details.
Confirm your application and make the payment.
Once applied, you can track the status of your application on the platform or get in your registered Email ID.
Log in to your Lakshmishree account and navigate to the 'IPO' section. Here, you can view live updates on the subscription status of ongoing IPOs.
