Sanstar’s share price began at ₹109 on the NSE today, 14.73% more than the ₹95 issue price. Sanstar’s share price started on the BSE today at ₹106.40 per share, which is 12% more than the issue price.
Today marked a successful market debut for the Sanstar share price. Sanstar’s share price began at ₹109 on the NSE today, 14.73% more than the ₹95 issue price. Sanstar’s share price started on the BSE today at ₹106.40 per share, which is 12% more than the issue price.
Analysts predicted that the opening price of Sanstar shares will be between ₹125 and ₹130 per share.
Subscriptions for the Sanstar IPO opened on Friday, July 19, and closed on Tuesday, July 23. Sanstar IPO subscription status was 82.99 times on the last day of bidding.
On the last day of the Sanstar IPO auction, the response from qualified institutional buyers (QIBs) was overwhelmingly positive. On the third day, retail investors lost ground to non-institutional investors (NIIs). BSE data indicates that 82.99 times as many investors subscribed to the Sanstar IPO. QIBs made 145.68 bookings, while NIIs made 136.50 subscriptions. There were 24.23 times as many subscriptions for the retail investors sector.
Sanstar Limited is a manufacturer of innovative plant-based products and ingredient solutions for food, pet food, and other commercial applications.
Among the products provided by the company are liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native and modified maize starches, and by-products such germ, gluten, fiber, and fortified proteins.
Sanstar IPO details
Through its IPO, the company hopes to raise ₹510.15 crore. The IPO consists of an offer-for-sale (OFS) of 1.19 crore shares priced at ₹113.05 crore by the promoters and a new issue of 4.18 crore equity shares valued at ₹397.1 crore by the business.
Via the OFS, Rani Gouthamchand Chowdhary would sell 38 lakh equity shares, and Samiksha Shreyans Chowdhary and Richa Sambhav would each sell 33 lakh shares. The other selling stockholders among the promoters are Gouthamchand Sohanlal Chowdhary, Sambhav Gautam Chowdhary, and Shreyans Gautam Chowdhary; together, they are dumping five lakh shares.
The firm plans to use the net proceeds of the new offering for supporting the capital expenditure needed to extend the Dhule Facility, as well as for general corporate purposes and the repayment and/or prepayment of some or all of its borrowed monies.
Link Intime India Private Ltd is the registrar for the offer, while Pantomath Capital Advisors Private Ltd is the only business handling the book running lead.
Sanstar IPO GMP today
Grey market premium for Sanstar’s IPO is +25. According to investorgain.com, this shows that the price of Sanstar shares were selling at a premium of ₹25 on the black market.
Sanstar’s expected listing price was ₹120 per share, 26.32% more than the IPO price of ₹95, taking into account the upper end of the IPO pricing band and the current premium in the grey market.
A good listing is indicated by the growing IPO GMP of today, which is consistent with the activity of the grey market over the past 14 days. According to a research by investorgain.com, ₹0 is the lowest GMP and ₹44 is the most.
An indication of investors’ willingness to pay over the issue price is the “grey market premium.”
