Last updated on July 27, 2024
Sanstar IPO Description – Sanstar is one of the major manufacturers of plant-based specialty products and ingredient solutions in India for food, animal nutrition, and other industrial applications. Its 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.
As per Frost & Sullivan, the company is the third largest manufacturer of maize-based specialty products and ingredient solutions in India with an installed capacity of 3,63,000 tons per annum (1,100 tons per day).
During the 12 months ending 31 March 2024, the company’s export revenue stood at INR 394.44 crore, representing 35.53% of total revenues. As of the same date, the company exported its products to 49 countries across Asia, Africa, the Middle East, the Americas, Europe, and Oceania. Additionally, the company has footprints across India, with its products sold in 21 states. As of 31 March 2024, Sanstar had 271 personnel including 60 permanent employees.
Promoters of Sanstar – Gouthamchand Sohanlal Chowdhary, Sambhav Gautam Chowdhary And Shreyans Gautam Chowdhary
Table of Contents
Sanstar IPO Details
| Sanstar IPO Dates | 19 – 23 July 2024 |
| Sanstar Issue Price | INR 90 – 95 per share |
| Fresh issue | 4,18,00,000 shares (INR 376.2 – 397.1 crore) |
| Offer For Sale | 1,19,00,000 shares (INR 107.1 – 113.05 crore) |
| Total IPO size | 5,37,00,000 shares (INR 483.3 – 510.15 crore) |
| Minimum bid (lot size) | 150 shares (INR 14,250) |
| Face Value | INR 2 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Sanstar Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 504.40 | 1,205.07 | 1,067.27 |
| Expenses | 482.78 | 1,154.28 | 991.96 |
| Net income | 15.92 | 41.81 | 66.77 |
| Margin (%) | 3.16 | 4.45 | 6.26 |
Sanstar Offer News
- Sanstar IPO Listing: Grey Market Indicates Positive Listing, Upto 34% Gains Likely
- Sanstar RHP
- Sanstar DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
Sanstar Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 1.08 | 2.98 | 4.75 | 3.66 |
| PE Ratio | – | – | 18.93 – 19.98 | 24.56 – 25.93 |
| FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | 32.51 | 28.00 | 30.92 |
| NAV | 3.32 | 10.63 | 15.37 |
| EBITDA (%) | 7.87 | 6.01 | 9.20 |
| ROCE (%) | 18.21 | 23.67 | 25.31 |
| Debt/Equity | 1.00 | 0.60 | 0.50 |
Sanstar IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 25 July 2024 | 33 | – | 1,300 |
| 24 July 2024 | 30 | – | 1,300 |
| 23 July 2024 | 30 | – | 1,300 |
| 22 July 2024 | 35 | – | 1,400 |
| 20 July 2024 | 35 | – | 1,400 |
| 19 July 2024 | 40 | – | 1,600 |
| 18 July 2024 | 40 | – | 1,600 |
| 17 July 2024 | 40 | – | 1,600 |
| 16 July 2024 | 45 | – | 1,800 |
| 15 July 2024 | 50 | – | 2,000 |
Sanstar IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Funding the capital expenditure requirement for expansion of Dhule Facility – INR 181.56 crore
- Repayment and/or pre-payment, in part or full, of certain borrowings availed by the company – INR 100 crore
- General corporate purposes
Sanstar – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Sanstar | 25.93 | 3.05 | 27.74 | 11.01 | 1,182.77 |
| Gujarat Ambuja Exports | 25.52 | 14.40 | 13.56 | 106.13 | 4,983.00 |
| Gulshan Polyols | 24.38 | 8.69 | 7.86 | 110.60 | 1,186.79 |
| Sukhjit Starch and Chemicals | 12.13 | 40.56 | 13.61 | 298.00 | 1,449.61 |
Sanstar IPO Dates & Listing Performance
| IPO Opening Date | 19 July 2024 |
| IPO Closing Date | 23 July 2024 |
| Finalization of Basis of Allotment | 24 July 2024 |
| Initiation of refunds | 25 July 2024 |
| Transfer of shares to demat accounts | 25 July 2024 |
| Sanstar IPO Listing Date | 26 July 2024 |
| Opening Price on NSE | INR 109 per share (up 14.74%) |
| Closing Price on NSE | INR 115.07 per share (up 21.13%) |
Sanstar IPO Reviews – Subscribe or Avoid?
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Sanstar Offer Lead Manager
PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED
Pantomath Nucleus House, Saki Vihar Road,
Andheri East, Mumbai – 400 072 Maharashtra, India
Phone: 18008898711
Email:Â [email protected]
Website: www.pantomathgroup.com
Sanstar Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 247 Park, 1st Floor, L.B.S. Marg, Vikhroli
West, Mumbai – 400 083, Maharashtra, India
Tel:Â +91 8108114949
E-mail:Â [email protected]
Website:Â www.linkintime.com
Sanstar Contact Details
SANSTAR LIMITED
Sanstar House, near Parimal Under Bridge,
Opposite Suvidha Shopping Centre, Paldi, Ahmedabad
380 007, Gujarat, India
Phone:Â +91 79 26651819
Email: [email protected]
Website: www.sanstar.in
Sanstar IPO FAQs
How many shares in Sanstar IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for Sanstar Public Offer?
The best way to apply for Sanstar public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Sanstar IPO GMP today?
Sanstar IPO GMP today is INR 33 per share.
What is Sanstar kostak rate today?
Sanstar kostak rate today is INR NA per application.
What is Sanstar Subject to Sauda rate today?
Sanstar Subject to Sauda rate today is INR 1,300 per application.
