Sanstar IPO subscriptions are scheduled to launch on Friday, July 19. Each equity share in the Sanstar IPO has a face value of Rs 2, and the price range for them is Rs 90 to Rs 95.
Tuesday, July 23, is the last day of the Rs 510 crore issue. After the minimum of 150 equity shares, investors may submit bids in multiples of 150 equity shares. On Thursday, July 18, the allocation to anchor investors for the Sanstar IPO is planned.
Offer Details
The IPO consists of an offer for sale (OFS) of 1.19 crore shares by selling shareholders and a new issue of 4.18 crore shares. At the upper end of the price range, the estimated IPO size is Rs 510.15 crore.
Debt repayment will total Rs 100 crore. The proceeds of the new issue, which will raise Rs 181.55 crore, will finance the capital expenditure required to expand the company's Dhule plant. The remaining portion will support general corporate goals.
Pantomath Capital Advisors is the sole book-running lead manager for the IPO.
Promotors background
The company's promoters are Gouthamchand Sohanlal Chowdhary, Sambhav Gautam Chowdhary, and Shreyans Gautam Chowdhary. 80,366,100 equity shares, or 57.22 per cent of the equity share capital that has been issued, subscribed for, and paid up, are jointly owned by the promoters of the company.
The company is among India's top manufacturers of plant-based specialty products and ingredient solutions for use in food, industrial, and animal nutrition applications. One of India's biggest manufacturers of corn-based specialty products and ingredient solutions, with an installed capacity of 3,63,000 tons per year (1,100 tons per day).
Comapany's Financials
According to its restated consolidated financial statements, Sanstar's revenue from operations grew at a compound annual growth rate (CAGR) of 45.46 per cent, from Rs 504.40 crore in fiscal 2022 to Rs 1,067.27 crore in fiscal 2024.
Their profit after tax increased from Rs 15.92 crore to Rs 66.77 crore between the fiscal years 2022 and 2024.
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