Sanstar Ltd. had a positive listing day but performed below the high expectations of the market participants. Overall, a positive debut, but did not reach the anticipated listing gains of 30-35% of some analysts.
Sanstar successfully launched its initial public offering (IPO) on 19 July’ 2024, raising funds for capacity expansion, working capital requirements, and general corporate purposes.
Sanstar IPO listing day performance:
Listing price:
- NSE: ₹109 (14.73% premium over issue price)
- BSE: ₹106.40 (12% premium over issue price)
Performance: Sanstar Shares witnessed strong buying interest after listing, indicating investor confidence. Some profit bookings occurred due to elevated valuations and broader market volatility but below the high expectations of the market participants.
About Sanstar IPO
Sanstar IPO was open on July 19, 2024 and ended on July 23, 2024.Sanstar IPO (Initial Public Offering) was a book-built issue of ₹510.15 crores, consisting of the Fresh Issue is 41,800,000 shares aggregating to ₹397.10 crores and offer for Sale is 11,900,000 shares aggregating to ₹113.05 crores
Sanstar IPO price band was at ₹90 to ₹95 per share. The minimum lot size for an applicant was 150 Shares. The minimum amount of required by individual retail investors is ₹14,250.
The Sanstar IPO was oversubscribed 82.99 times.
- Retail category: 24.23 times
- QIB (Qualified Institutional Buyers): 145.68 times
- NII (Non-Institutional Investors): 136.49 times
Additional Information:
Sanstar is a leading manufacturer of maize-based specialty products and ingredient solutions. The IPO aimed to raise funds for capacity expansion, working capital requirements, and general corporate purposes. The IPO received positive response from investors due to the company’s strong financials, market position, and growth prospects.