– Sanstar Limited’s IPO has received a strong response from investors, with bids for 3,11,93,83,050 shares against 3,75,90,000 shares on offer
– Retail quota received a 24.23 times subscription, non-institutional investors category got a 136.49 times subscription, and qualified institutional buyers category received a 145.68 percent subscription
– Sanstar IPO allotment likely to be finalised on July 24, with listing on BSE and NSE scheduled for July 26
– Market observers are expecting a 31.58 percent listing gain from the public issue based on a Rs 30 grey market premium
– Analysts recommend subscribing to the IPO for long-term growth prospects, despite risks such as fluctuations in raw material prices and competition
– Proceeds from the IPO will be used for expansion, debt payment, and general corporate purposes
– Sanstar is a leading manufacturer of maize-based specialty products and ingredient solutions with a large and diversified customer base
– The company has seen significant revenue growth and profit after tax increase in recent years
– Pantomath Capital Advisors is the sole book-running lead manager for the IPO, with the equity shares set to be listed on BSE and NSE.