Sanstar Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 26,850,000 (50%) | — | ₹25,508 Cr |
| NII (HNI) | — | 8,055,000 (15%) | — | ₹7,652 Cr |
| Retail | — | 18,795,000 (35%) | — | ₹17,855 Cr |
| Σ Total | — | 53,700,000 (100%) | — | ₹510,150 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹14,250 |
| Retail (Max) | 13 | 1,950 | ₹185,250 |
| S-HNI (Min) | 14 | 2,100 | ₹199,500 |
| B-HNI (Min) | 67 | 10,050 | ₹954,750 |
Financial Statements Amount in Crore
| Metric | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Revenue | 1,082 | 1,210 | 505 |
| Profit After Tax | 67 | 42 | 16 |
| Net Worth | 216 | 149 | 49 |
| Total Assets | 528 | 368 | 207 |
| Reserves & Surplus | 225 | 158 | 56 |
| Total Borrowing | 128 | 112 | 85 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- Funding the capital expenditure requirement for the expansion of the Dhule Facility; –
- Repayment and/or pre-payment, in part or full, of certain borrowings availed by the Company, and; –
- General Corporate Purposes. –
Company Overview
Founded in 1982, Sanstar Limited manufactures specialty 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, fiber and fortified proteins.
These products are used in:
- Food products: as ingredients, thickeners, stabilizers, sweeteners, emulsifiers, and additives (including in baked goods, confectionery, pasta, soups, ketchup, sauces, creams and desserts);
- Pet food products: as nutritional ingredients; and
- Other industrial products: as disintegrants, excipients, supplements, coating agents, binders, smoothing and flattering agents, and refining agents.
The company has two manufacturing facilities covering a total area of 10.68 million square feet (approx 245 acres) at Dhule in the state of Maharashtra and Kutch in the state of Gujarat. With an installed capacity of 3,63,000 tons per annum (1,100 tons per day), the company is the fifth largest manufacturer of corn-based specialty products and ingredients in India.
The company exports its products to companies in 49 countries including Asia, Africa, the Middle East, America, Europe and Oceania. The company also has a pan-India presence where its products are sold in 22 states.
As of March 31, 2024, the company employed 271 people (including 60 permanent employees) at its plants in Kutch and Dhule and at its headquarters.