About Sanstar:
They are one of the major manufacturers of plant-based specialty products and ingredient solutions in India for food, animal nutrition, and other industrial applications. Their product categories include starches, derivatives, and co-products, among others.
About the Industry in which Sanstar operates:
The Global maize-based speciality products and ingredients solutions industry is estimated to be valued at $ 45,195million in calendar year 2023 and is estimated to grow to $58,021million in calendar year 2029. Similarly, the Indian industry is estimated to be valued at $ 3,121million in calendar year2023 and is estimated to grow to $ 4,210million in calendar year 2029.
| Important Information and Timelines of the IPO of Sanstar: | |
|---|---|
| Open Date | 19 July 2024 |
| Close Date | 23 July 2024 |
| Total Issue Size – Number of Shares | 53700000 |
| Minimum Bid Price | 90 |
| Maximum Bid Price | 95 |
| Lot Size | 150 |
| Basis of Allotment | 24 July 2024 |
| Initiation of Refunds and Credit of Shares to Demat | 25 July 2024 |
| Listing Date | 26 July 2024 |
| Listing Exchange(s) | NSE and BSE |
Minimum and Maximum Lot Sizes for the IPO of Sanstar:
| Category | Lots | Shares | Amount (in ₹) |
|---|---|---|---|
| Retail – Minimum | 1 | 150 | 14250 |
| Retail – Maximum | 14 | 2100 | 199500 |
| sHNI – Minimum | 15 | 2250 | 213750 |
| sHNI – Maximum | 70 | 10500 | 997500 |
| bHNI – Minimum | 71 | 10650 | 1011750 |
Objective of the IPO of Sanstar:
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Funding the capital expenditure requirement for expansion of our Dhule Facility.
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Repayment and/or pre-payment, in part or full of certain borrowings availed by our Company.
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General corporate purposes.
Financials of Sanstar:
| Particulars | Fiscal 2024 | Fiscal 2023 | Fiscal 2022 |
|---|---|---|---|
| Equity Share Capital | 280.89 | 280.89 | 295.00 |
| Net Worth | 2,159.12 | 1,492.81 | 489.67 |
| Revenue from Operation | 10,672.71 | 12,050.67 | 5,044.02 |
| Total Income | 10,816.83 | 12,096.68 | 5,047.67 |
| Restated Profit for the Period/Year | 667.67 | 418.05 | 159.21 |
| Earnings per Share as per Face Value of ₹10/ | 23.77 | 14.88 | 5.40 |
| Earnings per Share as per Face Value of ₹2/ | 4.75 | 2.98 | 1.08 |
| Return on Net Worth for Equity Shareholders | 30.92 | 28.00 | 32.51 |
| Net Asset Value per Equity Share | 15.37 | 10.63 | 3.32 |
| Total Borrowings | 1,276.36 | 1,117.00 | 852.20 |
For more details on the IPO, refer to the DRHP here.
Did you know that you can now Pre-Apply for an IPO on Dhan? You can place your IPO Bid on Dhan and the order will be pushed to the Exchange as soon as the Bidding starts for Sanstar. You will receive a UPI mandate after 10:00 AM on 19 July 2024.
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How to apply for the IPO of Sanstar on Dhan?
You can apply for the IPO of Sanstar from either Dhan Mobile App or Web
On Dhan Mobile App you can find the IPO under the Money Section > IPO Tab
On Dhan Web you can find the IPO under Markets Tab > IPOs -
In case of successful allotment, when the IPO shares of Sanstar be visible on Dhan?
The CDSL will intimate you regarding the credit of shares into your Demat account by 25 July 2024. However, you will be able to see the shares of Sanstar on Dhan before the market starts on the listing date which is 26 July 2024.
Apply for IPO on Dhan app - Dhan: Stock Market Trading App on the App Store