Sanstar IPO listing is scheduled for tomorrow, Friday, July 26, 2024. The IPO allotment was finalized on Wednesday, July 24, 2024. For those who have been allocated shares, the shares will be credited to their demat accounts today, Thursday, July 25. Additionally, the refund process for those who did not receive shares will also be completed today. Here’s what you need to know about the Sanstar IPO listing tomorrow.
Sanstar IPO Listing Tomorrow
On the final day of subscription, Tuesday, July 23, Sanstar IPO received 82.96 times the number of subscriptions, according to BSE data. The qualified institutional buyer (QIB) segment was oversubscribed 145.68 times, while the non-institutional investor quota saw 136.47 times subscriptions. The retail individual investor (RII) quota was oversubscribed 24.19 times. The IPO, which opened on Friday, July 19, had a price band set between INR 90 – 95 per share.
In the Sanstar IPO, 15% of the shares are allocated for non-institutional investors (NII), 35% are designated for retail investors, and 50% are reserved for qualified institutional buyers (QIB).
Sanstar IPO GMP
Investors are also considering the market opportunity and the unique premium of the Indian manufacturer specializing in plant-based products and ingredients company about to enter the market. Consequently, there is a significant grey market premium (GMP), offering a profit potential. Let’s examine what the GMP for Sanstar IPO has indicated in the last few days ahead of its listing.
Over the past ten days (15 – 25 Jul), the average grey market premium (GMP) for Sanstar IPO was INR 37.8 per share, with today’s GMP being at INR 33 per share, according to IPOCentral’s GMP tracker. Accordingly, the anticipated listing price for Sanstar IPO is pegged at INR 128 per share. This figure represents a potential profit of 34.74% from the IPO price of INR 95 per share, factoring in the upper limit of the IPO pricing range and the current premium observed in the grey market.
The term “Grey market premium” signifies the willingness of investors to pay a price higher than the initial offering price. While trading in this parallel market is not recognized by stock exchanges, the grey market has worked reasonably well to anticipate listing prices. Most recently, shares of Emcure Pharma and Stanley Lifestyles had strong starts on their stock market debuts, as indicated by the grey market.
Sanstar IPO Details
Sanstar IPO subscription commenced on July 19, 2024, and concluded on July 23, 2024. The IPO is to raise approximately INR 483.3 – 510.15 crores, comprising a fresh issue of INR 376.2 – 397.1 crore and an offer-for-sale (OFS) of 1,19,00,000 shares by the promoters and shareholders. The price band for the IPO is fixed at INR 90 – 95 per share. The market lot for Sanstar IPO is 150 shares, with a minimum application amount of INR 14,250.
Sanstar is a prominent Indian manufacturer specializing in plant-based products and ingredients used in food, animal nutrition, and industrial applications. The company ranks as the fifth largest manufacturer of maize-based specialty products in India, with an installed capacity of 363,000 tons per annum (1,100 tons per day). Sanstar operates two facilities located in Dhule and Kutch, covering a total area of 245 acres. It exports to 49 countries, showcasing a strong international presence.
Sanstar IPO Listing FAQs
What are Sanstar IPO dates?
Sanstar IPO subscription commenced on July 19, 2024, and concluded on July 23, 2024.
When is the Sanstar IPO listing expected?
Sanstar IPO listing date is Friday, July 26, 2024.
Can we buy an IPO on the listing date?
You can place a buy order at a desired price for the IPO shares on the listing day after 10 AM.
