Sanstar Limited
Open MainLineCurrent GMP
₹25 (+26.32%)
Price Band
₹ 90 – 95
Lot Size
150
Issue Size
₹510.15 Cr
Minimum Investment
₹14250 (150 Shares)
Listing Date
26 July 2024
Subscription
82.99x
About the Company
Established in 1982, Sanstar Limited manufactures plant-based specialty products and ingredient solutions in India for food, animal nutrition, and other industrial applications. The company’s 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. According to Frost & Sullivan, the company holds the position of the fifth-largest manufacturer of maize-based specialty products and ingredient solutions in India, boasting an installed capacity of 363,000 tons per annum (1,100 tons per day).
The specialty products and ingredients solutions by the company add taste, texture, nutrients and increased functionality to (i) foods as ingredients, thickening agents, stabilizers, sweeteners, emulsifiers, and additives (in bakery products, confectionery, pastas, soups, ketchups, 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.
The company is a recognized Two Star Export house from the Director General of Foreign Trade, Government of India, while Sanstar Biopolymers Limited, the erstwhile Company that was merged with the Company in 2023 is a recognized Three Star Export House. The company has two manufacturing facilities in Maharashtra and Kutch covering a total area of 245 acres and exports its products to companies in 49 countries including Asia, Africa, the Middle East, America, Europe, and Oceania. The Domestic reach is equitable, with product distribution covering 22 states across India.
Promoters
- Gouthamchand Sohanlal Chowdhary
- Sambhav Gautam Chowdhary
- Shreyans Gautam Chowdhary
Promoters Holding
Holding Pre Issue
99.77%
Holding Post Issue
70.37%
Objects of the Issue
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding the capital expenditure for the expansion of the Dhule facility
- Repayment and/or prepayment, in part or in full, of certain borrowings availed by the company
- General corporate purposes
Address / Contact Info
Sanstar Limited
Sanstar House, near Parimal Under Bridge,
Opp. Suvidha Shopping Centre, Paldi,
Ahmedabad – 380 007
Phone: +91 79 26651819
Email: cs@sanstar.in
Website: https://www.sanstar.in
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Friday, 19 July 2024
IPO Close Date
Tuesday, 23 July 2024
Basis of Allotment
Wednesday, 24 July 2024
Initiation of Refunds
Thursday, 25 July 2024
Credit of Shares to Demat
Thursday, 25 July 2024
Listing Date
Friday, 26 July 2024 — NSE & BSE
Important Dates
Open Date
19 July 2024
Close Date
23 July 2024
Basis Of Allotment
24 July 2024
Listing Date
26 July 2024
Financial Performance (₹ in Crores)
| Particular | 31 Mar 24 | 31 Mar 23 | 31 Mar 22 |
|---|---|---|---|
| Assets | 527.57 | 368.35 | 207.45 |
| Revenue | 1081.68 | 1209.67 | 504.77 |
| Profit After Tax | 66.77 | 41.81 | 15.92 |
| Net Worth | 215.91 | 149.28 | 48.97 |
| Reserve & Surplus | 225.18 | 158.41 | 55.69 |
| Total Borrowings | 127.64 | 111.7 | 85.22 |
EPS Pre
4.75%
EPS Post
3.66%
P/E Pre
19.98
P/E (Post Issue)
25.93x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI Information |
|---|---|
| ROE % | 30.92 |
| ROCE % | 24.43 |
| Debt / Equity | 0.5 |
| RoNW % | 30.92 |
| PbW | 6.18 |
| Pat Margin % | 6.17 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Anchor Investors | 16110000 | 30 | 0 |
| Qualified Institutions | 10740000 | 20 | 0 |
| Non-Institutional | 8055000 | 15 | 0 |
| BNII | 5370000 | 10 | 2386 |
| SNII | 2685000 | 5 | 1193 |
| Retail Investors | 18795000 | 35 | 125300 |
| Total | 53700000 | 100 | 0 |
Subscription Status ( Sat, 24 Aug 24 08:09 AM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 10740000 | 1564582800 | 145.68x |
| Non-Institutional | 8055000 | 1099480050 | 136.5x |
| BNII | 5370000 | 802484550 | 149.44x |
| SNII | 2685000 | 296995500 | 110.61x |
| Retail Investors | 18795000 | 455433300 | 24.23x |
| Total | 37590000 | 3119496150 | 82.99x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 150 | 14,250.00 |
| Retail (Max) | 14 | 2,100 | 199,500.00 |
| S-HNI (Min) | 15 | 2,250 | 213,750.00 |
| S-HNI (Max) | 70 | 10,500 | 997,500.00 |
| B-HNI (Min) | 71 | 10,650 | 1,011,750.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Pantomath Capital Advisors Pvt Ltd
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Sanstar Limited is a Book-building IPO worth ₹510.15 crores. The price band is ₹90 to 95 per share. The IPO opens on Fri, Jul 19, 2024 and closes on Tue, Jul 23, 2024. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The Sanstar Limited opens on Fri, Jul 19, 2024 and closes on Tue, Jul 23, 2024
Sanstar Limited Price Band is ₹90 to 95.
Sanstar Limited lot size is 150, and the minimum amount required for application is ₹14250.
The minimum investment for Sanstar Limited is approximately ₹14250 based on the upper price band.
To apply for the Sanstar Limited, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Tue, Jul 23, 2024. After submission, funds are blocked until the basis of allotment of Sanstar Limited is finalised.
Sanstar Limited issue size is ₹510.15 crores.
Sanstar Limited allotment date is Sat, Jun 27, 2026.
The registrar for Sanstar Limited is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to Sanstar Limited through their official website or helpline.
The Sanstar Limited GMP (Grey Market Premium) is ₹25 as of Fri, Jul 26, 2024. Based on the upper price band of ₹95 per share, the estimated Sanstar Limited listing price is ₹120, indicating a potential listing gain of approximately 31% over the issue price.