Sanastar IPO will open bidding for subscription on July 19 when investors can quote the stock. The company has kept the IPO price band in a range of Rs 90 to Rs 95 per equity share. The last day to apply for Sanstar IPO is July 23.
Issue Size
The company wants to collect Rs 510.15 crore from investors by offering them a combination of fresh issue as well as an offer for sale. The company will sell 41.8 million shares for a value of Rs 397.10 crore. While, the offer for sale is of 11.9 million shares raising Rs 113.05 crore for the promoters and other selling shareholders.
Allotment and Listing
The allotment of shares of Sanstar is expected to be finalised by July 24 with a listing on the BSE and NSE mainboard platform on July 26, as per the tentative schedule.
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About Sanstar
Sanstar is in the manufacturing of speciality plant-based products and ingredient solutions for food, pet food, and other industrial applications in India. The company’s product portfolio includes liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native maize starches, modified maize starches, and by-products such as germ, gluten, fibre and fortified proteins.
Minimum Investment Required
A retail applicant needs to apply for a minimum of one lot containing 150 shares, amounting to Rs 14,250. While the lot sizes are different for NIIs and QIBs. A small NII needs to bid for at least 15 lots of 2,250 shares taking their minimum investment value to Rs 2,13,750. A big NII be applying for 71 lots of 10,650 shares, taking the amount to Rs 10,11,750.
BRLM and Registrar
Pantomath Capital Advisors is the lead book-running manager of the Sanstar IPO, while Link Intime India has been chosen to work as the registrar for the issue.
