Sanstar's ₹510-crore IPO opens for subscription: All you need to know

Sanstar Ltd IPO opens for subscription with price band of ₹90-95 per share to raise ₹510 crore. Book running lead manager is Pantomath Capital Advisors.

Updated on: Jul 19, 2024, 10:29:38 IST

By HT News Desk | Edited by Mallika Soni

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The initial public offering (IPO) of Sanstar Ltd opened for subscription today. The issue will close on July 23 and the company has raised ₹153 crore from anchor investors. Ahead of the opening, the company's shares traded at a GMP of ₹38 in the unlisted market which means a premium of 40% over the issue price. Pantomath Capital Advisors is the book running lead manager to the issue. Link Intime India is the registrar to the offer.

Sanstar Ltd IPO: Pantomath Capital Advisors is the book running lead manager to the issue. Link Intime India is the registrar to the offer.

Sanstar IPO details

Sanstar IPO price band

The company has fixed a price band of ₹90-95 per share and investors can bid for 150 shares in one lot. In the IPO, about 50% in the IPO is reserved for qualified institutional buyers (QIB), 35% for retail investors and 15% for non-institutional investors.

Sanstar IPO objectives

Net proceeds from the IPO will be used by the company for expanding its Dhule facility, repaying debt and other general corporate purposes.

Sanstar IPO company details

Sanstar is a major manufacturer of plant-based specialty products and ingredient solutions in India for food, animal nutrition, and other industrial applications.

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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, among others.

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HT News Desk
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