Sanstar Limited IPO day 1: GMP, review, subscription status, other details. Buy or not?

Sansar Limited IPO: The initial public offering (IPO) of Sansar Limited has opened today. The public issue will remain open till 23rd July 2024, i.e. Tuesday next week. The pet foods ingredient provider company has fixed Sanstar Limited's IPO price band at ₹90 to ₹95 per equity share. The book build issue is proposed for listing on BSE and NSE. Meanwhile, shares of the company are available in the grey market. According to stock market observers, shares of Sanstar Limited are available at a premium of ₹42 in the grey market today.

Sanstar Limited IPO subscription status

By 2:48 PM on day one of bidding, the book build issue had been booked 2.93 times, the retail portion of the public offer had been booked 3.25 times, and the NII segment had been subscribed 6.09 times.

Important Sanstar Limited IPO details

Here we list out important Sanstar Limited IPO details in 10 points:

1] Sanstar Limited IPO GMP: According to market observers, shares of the company are available at a premium of ₹42 in the grey market today.

2] Sanstar Limited IPO price: The company has declared the price band of the public issue at ₹90 to ₹95 per equity share.

3] Sanstar Limited IPO date: The book build issue opened today and will remain open until 23 July 2024.

4] Sanstar Limited IPO size: The company aims to raise ₹510.15 crore from its initial public offering (IPO), of which ₹113.05 crore is reserved for offer for sale (OFS).

5] Sanstar Limited IPO lot size: Bidders can apply in lots, and one lot of the mainboard IPO comprises 150 company shares.

6] Sanstar Limited IPO allotment date: Share allocation can be expected on Wednesday, July 24th, 2024.

7] Sanstar Limited IPO registrar: Link Intime India Private Limited has been appointed as the official registrar of the book build issue.

8] Sanstar Limited IPO listing: The book build issue is proposed for listing on BSE and NSE.

9] Sanstar Limited IPO listing date: In the wake of the 'T+3' listing rule, the SansLimited'sited IPO listing date will likely be Friday, July 26th, 2024 week.

Sunstar Limited IPO: Buy or not?

10] Sanstar Limited IPO review: Giving a 'buy' tag to the book build issue, Amit Goel, Co-Founder & Chief Global Strategist at Pace 360, said, "Sanstar Limited is engaged in manufacturing of speciality plant-based products and ingredient solutions for food, pet food and other industrial applications in India. It 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. The company exports its products to over 50 countries globally. It marked inconsistency in its top lines; the bottom line steadily grew for the reported period. The issue looks aggressively priced, based on the FY24 earnings."

SBI Securities has also given a 'subscribe' tag to the book build issue, saying, "The company is valued at the FY24 P/E multiple of 25.9x at post-issue market capital. Its Revenue/PAT has grown at a CAGR of 45%/105%, from ₹504 crore/ ₹16 cr in FY22 to ₹1,067 crore/ ₹67 cr in FY24. The company is raising funds through fresh issues to fund its capital expenditure towards expanding the Dhule facility, which will be commissioned by July '25. The additional capacity of 1000 TPD will further boost the topline during FY26. Global/Indian Maize Starch Market is expected to grow at a CAGR of 4.25%/5.12% from 84.5 mn MT/7.2 mn MT to 107.1 mn MT/9.6 mn MT between FY23 and FY29, which will give an edge for the company's growth. We recommend subscribing to the issue for a long-term investment horizon."

DR Choksey and Swastika Investmart, among other brokerages, have also given this public issue a 'subscribe' tag to Sanstar Limited IPO.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.