Sanstar IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Aug 14, 2024Let’s have a detailed review of the company and analytics of the Sanstar IPO release date, IPO offer price, subscription, Sanstar Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 2 |
| Price Band | Rs 90 to Rs 95 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 150 Shares |
| Listing Date | July 26, 2024 |
| Offer for Sale | Rs 113.05 Cr. |
| Fresh Issue | Rs 397.10 Cr. |
| IPO Size | Rs 510.15 Cr. |
| Tick Size | 1 |
Sanstar IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Sanstar Share Price |
Sanstar IPO – Summary
They are one of the major manufacturers of plant-based speciality 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, amongst others.
The Promoter of this company is Mr GOUTHAMCHAND SOHANLAL CHOWDHARY, SAMBHAV GAUTAM CHOWDHARY AND SHREYANS GAUTAM CHOWDHARY. The lead manager of the issue is Pantomath Capital Advisors Private Limited, and the Registrar of this issue is Linkintime India Private Limited.
Sanstar IPO Date
The opening and closing dates of Sanstar IPO are July 19, 2024, and July 23, 2024, respectively.
Sanstar IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 19th Jul | 0.05x | 9.89x | 4.19x | 4.23x |
| 2nd Day – 22nd Jul | 1.29x | 32.91x | 12.29x | 13.56x |
| 3rd Day – 23rd Jul | 145.68x | 136.49x | 24.23x | 82.99x |
| Shares Offered or Net Issue | 10,740,000 | 8,055,000 | 18,795,000 | 53,700,000 |
The shares subscribed by the public will be updated here.
Sanstar IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Sanstar Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | July 24, 2024 |
| Refunds Initiation | July 25, 2024 |
| Credit of Shares to Demat Account | July 25, 2024 |
| Share Listing Date | July 26, 2024 |
Sanstar IPO Price Band
The face value of each share is Rs.2, but the price band of the IPO is Rs 90 to Rs 95
Sanstar IPO Equity Size
This Initial Public Issue of 53,700,000 Equity Shares of Rs.2 each for cash at a price of Rs 90 to Rs 95 per equity share aggregating to 510.15 Cr.
Sanstar IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 41,800,000 Equity Shares of Rs.2/ each.
Issue Size: 53,700,000 Equity Shares of Rs.2 each, aggregating to 510.15 Cr.
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Sanstar IPO – Live Performance
The listing date of this IPO is July 26, 2024. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Sanstar Share Price |
Sanstar IPO Grey Market Premium
The Sanstar Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Sanstar IPO – Company Overview
Their speciality products and ingredients solutions add taste, texture, nutrients and increased functionality to (i) foods as ingredients, thickening agents, stabilizers, sweeteners, emulsifiers and additives (in bakery products, confectionery, pasta, soups, ketchup, sauces, creams, deserts, amongst others), (ii) animal nutrition products as nutritional ingredients, and (iii) other industrial products as disintegrants, excipients, supplements, coating agents, binders, smoothing & flattering agents, finishing agents, among others.
Also, their two manufacturing facilities spread across a cumulative area of 10.68 million square feet (approximately 245 Acres) are located at Dhule in the state of Maharashtra and Kutch in the state of Gujarat. Their Dhule Facility is the latest, sustainability-focused, state-of-the-art, automated facility and has been designed by their in-house team of 24 engineers.
Their manufacturing facilities are strategically located in terms of both proximities to their raw material sources i.e. maize harvesting belts as well as seaports of Mundra, Kandla, Hazira and Nhava Sheva, for exports of their finished products.
Sanstar IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||
| 31-Mar-24 | Mar-23 | 31-Mar-22 | |
| Total Assets | 5,275.69 | 3,683.51 | 2,074.53 |
| *Total Revenue | 10,816.83 | 12,096.68 |
5,047.67
|
| Total Expense | 9,919.59 | 11,542.80 |
4,827.84
|
| Profit After Tax |
667.67
|
418.05
|
159.21
|
Earnings per Equity Share (in Million)
| 31-Mar-24 | Mar-23 | 31-Mar-22 | |
| Basic & Diluted | 4.75 | 2.98 | 1.08 |
Further, their PAT for the period ended on March 31, 2024, March 31, 2023, and March 31, 2022, were Rs. 667.67 Million, Rs. 418.05 Million and Rs. 159.21 Million respectively.
Sanstar IPO – Promoters
The Promoter of this company is:
- GOUTHAMCHAND SOHANLAL CHOWDHARY,
- SAMBHAV GAUTAM CHOWDHARY
- SHREYANS GAUTAM CHOWDHARY
List of Related Parties (Key Managerial Personnel)
- Gouthamchand Sohanlal Chowdhary, Chairman and Managing Director
- Sambhav Gautam Chowdhary, Joint Managing Director
- Shreyans Gautam Chowdhary, Joint Managing Director
- Sejal Ronak Agrawal, Independent Director
Sanstar IPO – Promoters Holding
- Pre-Issue Share Holding – 99.77%
- Post-Issue Share Holding – 70.37%
Sanstar IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 53,700,000 Equity Shares aggregating up to Rs.510.15 Cr. |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than 18,795,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 80,55,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 140,444,250 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Sanstar IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Funding the capital expenditure requirement for expansion of their Dhule Facility;
- Repayment and/or pre-payment, in part or full, of certain borrowings availed by their Company and;
- General Corporate Purposes.
Sanstar IPO – Business Strategy
- Expand their manufacturing capacities to capture additional market share
- Leverage their industry-leading capabilities by continuing to diversify their customer base
- Increase their global footprint and augment growth in current geographies
- Increase the revenue contribution from derivative products
Sanstar IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- One of the largest manufacturers of maize-based speciality products and ingredient solutions in India with a diverse product portfolio;
- Speciality products and ingredients solutions player catering to diverse industry segments and poised to benefit; from mega industrial trends;
- Their strategically located, sustainability-driven, state-of-the-art manufacturing facilities;
- Global presence in a market with high entry barriers;
- Strong financial growth along with robust performance metrics;
- Two Generations of Promoters with domain knowledge;
- Well positioned to leverage the large opportunities in the speciality products and ingredient solutions industry;
- Large, diversified customer base with long-lasting relationships
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-24 |
4.75
|
30.92%
|
15.37 |
| 31-Mar-23 |
2.98
|
28.00%
|
10.63 |
| Mar-22 |
1.08
|
32.51%
|
3.32 |
Sanstar IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| Sanstar Limited | 2 | [●] | 4.75 |
30.92%
|
10,816.83 |
| Listed Peers | |||||
| Gujarat Ambuja Exports Limited | 1 | 18.65 | 7.54 |
12.49%
|
50,714.20
|
| Gulshan Polyols Limited | 1 | 73.31 | 2.85 |
2.30%
|
13,901.82
|
Sanstar IPO Lead Managers
| Lead Managers |
| Pantomath Capital Advisors Private Limited Registered Office: Pantomath Nucleus House, Saki Vihar Road, Andheri East, Mumbai -400 072, Maharashtra, India. Telephone:18008898711Email: sanstar.ipo@pantomathgroup.com Investor Grievance Id: investors@pantomathgroup.com Website:www.pantomathgroup.com Contact Person: Ritu Agarwal/ Kaushal Patwa SEBI Registration No: INM0000112110 |
Sanstar IPO Registrar to offer
| Registrar to the Offer |
| Linkintime India Private Limited Registered Office:C-101, 247 Park, 1st Floor, L.B.S. Marg, Vikhroli West, Mumbai-400 083, Maharashtra, India. Telephone: +91 8108114949 Email and Investor Grievance Id: sanstar.ipo@linkintime.co.in Website: www.linkintime.com Contact Person: Shanti Gopalkrishnan SEBI Registration No: INR000004058 |
Sanstar IPO – Other Details
- Statutory Auditor – M/s S.C. Bapna & Associates, Chartered Accountants
- Legal Counsel to the Company – M/s. Crawford Bayley & Co.
- Bankers to the Company – Karur Vysya Bank Limited
Sanstar IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Sanstar Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Sanstar IPO Review FAQs
Check out various FAQs related to Sanstar IPO:
What is the Issue Size of Sanstar IPO?
The Company is making an initial public offer of 53,700,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Sanstar IPO?
The price band for this particular IPO ranges between Rs 90 to Rs 95. As far as the face value of the share is concerned, it is Rs. 2 per share.
What is the Sanstar IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on July 19, 2024, while the closing date is set at July 23, 2024.
What is the Sanstar IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on July 24, 2024, refund initiation is on July 25, 2024, credit of shares is on July 25, 2024, and share listing date is on July 26, 2024.
What is the Sanstar IPO Listing Date?
Shares of this company shall be listed in the exchanges on July 26, 2024. The date, when the listing would be done, is stagnant on July 26, 2024.
Who is the Registrar of Sanstar IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Linkintime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Sanstar IPO?
Here are the promoters of this IPO – GOUTHAMCHAND SOHANLAL CHOWDHARY, SAMBHAV GAUTAM CHOWDHARY AND SHREYANS GAUTAM CHOWDHARY. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Sanstar IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Sanstar IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Sanstar Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2024 in Million is 667.67, 2023 is 418.05, and 2022 is 159.21.
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