Sanstar Limited IPO Opens On July 19. Check IPO Details Issue Date Price

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Sanstar Limited IPO Opens On July 19. Check IPO Details Issue Date Price

July 18, 2024
Sanstar Limited IPO Opens On July 19. Check IPO Details Issue Date Price

Sanstar Limited is coming out with an initial public offer to raise Rs. 510.15 crores from the market.

Below are the details of the Sanstar Limited IPO:

  • Issue opens – July 19 (Friday)
  • Issue closes – July 23 (Tuesday)
  • Issue size – Rs. 510.15 crores
  • Price band – Rs. 90 to 95 per equity share
  • Bid lot – 150 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Sanstar Limited are one of the major manufacturers of plant based specialty products and ingredient solutions in India for food, animal nutrition and other industrial applications (Source: Company Commissioned Frost & Sullivan Report, dated May 18, 2024). 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. 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, 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.
  • They are the fifth largest manufacturer of maize based speciality products and ingredient solutions in India. They believe that their leading position in the industry, technical knowledge to bring specific functionality and nutrition to end products, more than five decades of presence, state of the art manufacturing facilities, diverse product portfolio and clientele in domestic and global markets, provide them with competitive advantage.
  • They are a recognized Two Star Export house from Director General of Foreign Trade, Government of India, while Sanstar Biopolymers Limited, the erstwhile Company which was merged with their Company pursuant to NCLT, Ahmedabad order dated November 23, 2023, is a recognized Three Star Export House. They exported their products to 49 countries across Asia, Africa, Middle East, Americas, Europe and Oceania, during Fiscal 2024, Additionally, their Company has footprints across India, with its products being sold in 22 states.
  • Their two manufacturing facilities spread across cumulative area of 10.68 million square feet (approximate 245 Acres) are located at Dhule in the state of Maharashtra and Kutch in the state of Gujarat. Their Dhule Unit has been duly certified in accordance with FSSAI, FSSC 22000:2018, Kosher, HALAL, International Standards for Quality Management Systems as per ISO 9001:2015 and SGS’s Certificate for India’s National Programme for Organic Production Standards, amongst others. Similarly, their Kutch unit is registered with United States Food and Drug Administration (USFDA) and also hold certifications like FSSAI, HACCP, HALAL, ISO 9001:2015.

Issue Size : Rs.510.15 Cr

Issue break-up :

QIB – 50 % of the offer – Rs. 255.08 Cr.
NIB – 15 % of the offer – Rs. 76.52 Cr.
RET – 35 % of the offer – Rs. 178.55 Cr.

Listing : BSE & NSE

Registrar : Link Intime India Private Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Tuesday, 23rd July 2024.

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