Sanstar IPO Subscription Status

Sanstar IPO GMP

Sanstar IPO Analysis

Sanstar IPO Allotment

Sanstar IPO subscription started on 19 July 2024 and will close on 23 July 2024. Sanstar plans to raise around INR 483.3 – 510.15 crores via the IPO. The price band is fixed at INR 90 – 95 per share. The Sanstar IPO market lot has 150 shares and the minimum application amount is INR 14,250. The retail quota is 35%, QIB is 50% and NII is 15%.

Check Sanstar IPO subscription status here. The subscription figures are taken from BSE and NSE and are updated at regular intervals. The public issue has QIB, NII, and Retail categories for the subscription. Here you can find Sanstar IPO subscription status segregated by days and investor categories.

Sanstar IPO Subscription Status – Live Updates

Category	QIB	NII	Retail	Total
Shares Offered	1,07,40,000	80,55,000	1,87,95,000	3,75,90,000
23 Jul 2024	145.68	136.47	24.19	82.96
22 Jul 2024	1.29	32.85	12.15	13.48
19 Jul 2024	0.05	9.89	4.19	4.23

1,61,10,000 shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.

Sanstar – Business Background

Sanstar is a manufacturer of plant-based specialty products and ingredient solutions for food, pet food, and other industrial applications. The company’s product portfolio includes liquid glucose, maltodextrin powder, dried glucose solids, dextrose monohydrate, native maize starches, and other items. 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).

The company has two large-volume, state-of-the-art manufacturing facilities located in Dhule, Maharashtra, and Kutch, Gujarat. 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.

Investor Categories in Sanstar IPO Subscription

The three most important categories of IPO investors defined by SEBI are part of the Sanstar IPO.

Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.

Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.

Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.

The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).

Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors. 

Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.

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