Sanstar Limited IPO subscription starts on Friday, July 19 and ends on Tuesday, July 23, 2024. The IPO is a book-built issue of Rs. 510 crores. The issue is a combination of fresh issue of 4.18 crore equity shares and an offer for sale of up to 1.19 crore shares.
Sanstar Limited IPO price band sets at Rs. 90 to Rs. 95 per equity shares with a face value of Rs. 2 per equity shares. The minimum order quantity for the issue is 150 equity shares. The minimum amount of investment required for Retail is ₹14,250.
The allotment for the Sanstar Limited IPO is expected to be finalized on Thursday, July 25, 2024. The IPO will list on BSE Limited and NSE Limited with tempting date fixed as Friday, July 26, 2024.
The company has reserved 50% shares of the issue for QIB’s (Qualified Institutional Buyers), 15% for NII’s (Non-institutional Investors) and 35% for Retail.
Pantomath Capital Advisors Private Limited is book-running lead manager. Axis Bank Limited and HDFC Bank Limited are sponsor bank to the IPO. Link Intime India Private Limited is registrar to the issue.
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Financials –
| Particulars | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Net Worth | 2,159.12 | 1,492.81 | 489.67 |
| Revenue | 10,816.83 | 12,096.68 | 5047.67 |
| PAT | 667.67 | 418.05 | 159.21 |
| PAT Margin | 6.17% | 3.46% | 3.15% |
| Net Cash Flow | 285.97 | -60.17 | 297.14 |
| Total Borrowings | 1,276.36 | 1,117.00 | 852.24 |
Risk Factors –
- The Company had faced negative Net Cash Flow in the past financial year.
- There are pending litigations involving the Company. Any unfavourable order or decision in such proceedings may render affect our results of operations.
Objects of the Issue –
- To fund the capital expenditure requirement for expansion of our Dhule Facility;
- Repayment and/or pre-payment, in part or full, of certain borrowings availed by the company;
- General Corporate Purposes.
About Sanstar Limited
Founded in 1982, as ‘Continental Papers Limited’ and later changed into “Sanstar Limited” on March 2012. The Company is one of the major manufactures of plant based speciality products and ingredient solutions in India for food, animal nutrition and other industrial applications, with an installed capacity of 1,100 metric tons per day.
The Company is third largest manufacturer of maize based speciality products and ingredients solutions in India.
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