The share allotment of the Sanstar IPO is expected to be finalised today, Wednesday. Investors will start getting bank debit messages in the evening today. Once allotted, the Sanstar IPO allotment status can be checked on the BSE and NSE websites as well as on register Link Intime India’s portal.
The 510.15-crore initial public offering (IPO) of plant-based speciality products company Sanstar Limited, which was opened for subscription between July 19 and July 23, received an 82.98 times subscription, garnering bids for 3,11,93,83,050 shares as against 3,75,90,000 shares on offer.
The issue was opened for public subscription on July 19. The price band of the IPO has been fixed at Rs 90-Rs 95 apiece.
The Sanstar IPO listing will take place on both BSE and NSE on July 26.
Sanstar IPO: How To Check Allotment Status
Once the IPO allotment is finalised, the status can be checked by following these steps:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Sanstar Ltd’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime portal — https://www.linkintime.co.in/Initial_Offer/public-issues.html and check Sanstar IPO allotment status.
Sanstar IPO GMP Today
According to market observers, unlisted shares of Sanstar Ltd are trading Rs 36 higher in the grey market as compared with its issue price. The Rs 36 grey market premium or GMP means the grey market is expecting a 37.89 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Sanstar IPO: More Details
The Ahmedabad-based company’s proposed initial public offering (IPO) is a combination of fresh issue of 4.18 crore shares and an offer for sale (OFS) of 1.19 crore shares. At the upper end of the price band, the IPO size is pegged at Rs 510.15 crore.
Most analysts have grant a ‘Subscribe’ rating to the Sanstar IPO, given its growth prospects.
According to the latest data, the retail quota received a 24.23 times subscription, while the non-institutional investors category got a 136.49 times subscription. The qualified institutional buyers (QIB) category received a 145.68 per cent subscription.
Its retail and non-institutional investors’ quotas were fully subscribed within the first two hours of its bidding on Friday.
A day before the IPO, on July 18, Sanstar Ltd collected Rs 153 crore from anchor investors. According to a circular uploaded on the BSE website, the company has allocated 1.61 crore equity shares to 13 funds at Rs 95 apiece, aggregating the transaction size to Rs 153 crore.
Proceeds from the fresh issue to the tune of Rs 181.55 crore will be utilised to fund the capital expenditure requirement for the expansion of the company’s Dhule facility, Rs 100 crore for debt payment and a portion will also be used for general corporate purposes.
Sanstar is one of the major manufacturers of plant-based speciality products and ingredient solutions in India.
The company’s specialty products and ingredients add taste, texture, nutrients and increased functionality to foods as ingredients, thickening agents, stabilisers, and sweeteners, among others.
It has an installed capacity of 1,100 tonnes per day through its two manufacturing facilities at Dhule in Maharashtra and Kutch in Gujarat.
The company exports its products to 49 countries across Asia, Africa, the Middle East, the Americas, Europe, and Oceania and has established its presence across India, distributing its products to 22 states.
Sanstar’s revenue from operations has increased at a CAGR of 45.46 per cent to Rs 1,067.27 crore in FY24 from Rs 504.40 crore in FY22, and its profit after tax has grown to Rs 66.77 crore in FY24 from Rs 15.92 crore in FY22.
Investors can bid for a minimum of 150 equity shares and in multiples of 150 equity shares thereafter.
Pantomath Capital Advisors is the sole book-running lead manager for the IPO. The equity shares of the company are proposed to be listed on the BSE and the NSE.
Comments
0 comment