Sanstar IPO
#1. Quick Intro to Sanstar IPO
The initial public offering (IPO) of Sanstar will open for subscription on July 19 and close on July 23, comprising fresh issues of Rs.397.10 crore and an offer of sale of 113.05 crore. An investor can apply for the issue for a minimum of 150 shares and the listing will happen on July 26, 2024.
Sanstar Limited (1982) is one of the major manufacturers of plant-based speciality products and ingredient solutions in India for food, animal nutrition and other industrial applications, the products include liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native maize starches, modified maize starches and co-products like germs, gluten, fibre and enriched protein, amongst others. The 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.
Check out the IPO allotment status on IPO Deliver.
#2. IPO Object of Sanstar
The company intends to use the IPO Funds for the following purposes:
- Funding of capital expenditure requirements of the company for expansion of the Dhule facility
- Repayment of debts
- General corporate purposes and issue expenses.
#3. Sanstar Core Strengths
- One of the largest manufacturers of maize-based speciality
- Global presence
- Speciality products and ingredient solution
- Experienced promoters and management team
#4. Sanstar IPO Review & Rating
| Issue Size | Rs.510.15 crore |
| Issue Price | Rs.90-95 per share |
| Minimum Lot Size | 150 Shares |
| Total Profit (Latest) | Rs.66.77 lakhs |
| ROE (%) | 30.92 |
| RONW (%) | 24.43 |
| Listing on | NSE BSE |
| IPO Deliver Rating | Two |
#5. Sanstar IPO Dates, Price Band & Details
Sanstar IPO will open on July 19, 2024, and close on July 23, 2024. The IPO is to be listed on July 26, 2024.
| Type of issue | Book Built Issue IPO |
| Issue Size | Rs.510.15 crore |
| Price Brand | Rs.90-95 per share |
| Face Value | Rs. 02/- per share |
| IPO Open Date | July 19, 2024 |
| IPO Close Date | July 23, 2024 |
| IPO Allotment Date | July 24, 2024 |
| Refund Date | July 25, 2024 |
| Share Credit Date | July 25, 2024 |
| Listing Date | July 26, 2024 |
#6. Sanstar IPO Offer Details
Sanstar IPO’s total issue size is 53,700,000 shares, comprising the below-mentioned categories.
| Offer Category | Shares Offer | Amount (Crore) |
| Fresh Issue | 41,800,000 | 397.10 |
| Offer for Sale (OFS) | 11,900,000 | 113.05 |
#7. Sanstar Financials Overview (Lakhs)
The following table sets forth the summary of financial information of the company for the period March 31, 2024, March 31, 2023 and March 31, 2022.
| Category (Rs.) | March 2024 | March 2023 | March 2022 |
| Total Revenue | 10672.71 | 12050.67 | 5044.02 |
| Net Worth | 2159.12 | 1492.81 | 489.67 |
| Profit | 667.67 | 418.05 | 159.21 |
| Total Borrowings | 1276.26 | 1117 | 852.24 |
#8. Sanstar Quantitative Factors
The following table sets forth the summary of financial information of the company for the period March 31, 2024, March 31, 2023 and March 31, 2022.
| Category | March 2024 | March 2023 | March 2022 |
| EPS (Rs.) | 4.75 | 2.98 | 1.08 |
| RoNW (%) | 30.92 | 28.00 | 21.51 |
| NAV (Rs.) | 15.37 | 10.63 | 3.32 |
#9. Sanstar Comparison with Other Peer Companies (Top 2)
Listed companies in India are comparable in all aspects of the business.
| Company Names | Total Revenue
(Rs. in Lakhs) |
RoNW (%) | EPS |
| Gujarat Ambuja | 50714,.20 | 12.49 | 7.85 |
| Gulshan Polyols | 13901.82 | 9.94 | 2.85 |
#10. Sanstar Company Promoters
The company has three promoters as per the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP).
| Sr. No. | Name of Promoters |
| 01. | Gouthamchand Sohanlal Chowdhary |
| 02. | Sambhav Goutham Chowdhary |
| 03. | Shreyans Goutham Chowdhary |
#11. Sanstar Pre-offer and Post-Offer Promoters Shareholding
| Promoters Holding | Percentage (%) |
| Pre-issue | 99.77 |
| Post-issue | – |
#12. Sanstar IPO Reservation Details
Sanstar IPO total reservation shares are distributed between the below-mentioned categories.
| Category | Share Offered |
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the net offer |
#13. Sanstar IPO – Lot Size
An investor can apply for a minimum of 150 Shares in multiple thereof. Market lot sizes for the retail individual investors and non-institutional investor (NII)/ HNI investors are as follows:
| Application | Lot Size | No. of Shares | Amount (Rs.) |
| Retail (Min.) | 1 | 150 | 14,250 |
| Retail (Max.) | 14 | 2100 | 1,99,500 |
| HNI (Min.) | 15 | 2250 | 2,13,750 |
#14. Sanstar IPO – Prospectus Copy
An investor can download/view the Sanstar prospectus copy, which the company filed to exchange, details are as follows.
| Sanstar IPO Prospectus |
| Draft Red Herring Prospectus (DRHP) |
| Red Herring Prospectus (RHP) |
#15. Sanstar IPO Registrar
Link Intime India Private Limited
Website: www.linkintime.co.in
#16. Sanstar IPO Lead Managers
Pratham Capital Advisors Private Limited
Website; www.prathamgroup.com
#17. Sanstar IPO Application (How to Apply for an IPO)
There are three primary options for applying for a Sanstar IPO, details are as follows:
Option-1 Apply for IPO through Internet Banking
Step-1. Log into your bank account.
Step-2. In the invest Tab, you will see ASBA, click on it.
Step-3. Choose to apply for IPO and select the ongoing IPO “Sanstar Limited”
Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment.
Step-5. After the above steps, the respective amount will get blocked until the allotment date, and after that, it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through a Broker firm
Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)
Step-2. Click on the IPO tab and select the ongoing IPO “Sanstar Limited”
Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will be debited from your account or refunded if no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
Step-1. Visit the nearest branch of your bank.
Step-2. Fill out the ASBA form and submit it with KYC details.
Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will be debited from your bank account or refunded if no allotment is made to you.
#18. Sanstar Company Details
Sanstar Limited
Registered Office: Sanstar House, near Parimal Under Bridge, opposite Suvidha Shopping Centre, Paldi, Ahmedabad – 380 007, Gujarat, India.
Email: cs@sanstar.in
Website: www.sanstar.in
#19. Sanstar Subsidiary Companies (Top 2)
| Sr.No. | Name of Companies (Indian) |
| 01. | – |
| 02. | – |
#20. Sanstar Company Board (Top 2)
| Sr. No. | Name of Directors |
| 01. | Gouthamchand Sohanlal Chowdhary |
| 02. | Sambhav Goutham Chowdhary |
Sanstar IPO – Frequently Asked Questions (FAQs)
| #1. What is a Sanstar IPO?
Sanstar brings its IPO of Rs.510.15 crore, on July 19, 2024, with a price band of Rs.90-95 per share. |
| #2. What is the Sanstar IPO Open date?
Sanstar IPO’s opening date is July 19, 2024. |
| #3. What is the Sanstar IPO Close Date?
Sanstar IPO’s closing date is July 23, 2024. |
| #4. What is the Sanstar IPO Listing date?
Sanstar’s IPO listing date is July 26, 2024. |
| #5. What is the Sanstar IPO Minimum investment amount?
Sanstar IPO’s minimum investment amount is Rs.14,250. |
| #6. What is the Sanstar IPO offer issue Size?
Sanstar offers an issue size of Rs.510.15 crore. |
| #7. What is the Sanstar IPO Price Band?
Sanstar’s IPO price band is Rs.90-95 per share. |
| #8. Is Sanstar IPO mainboard IPO or SME IPO?
Sanstar IPO is a mainboard IPO. |
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